Predictions for the prices of ETH, BTC, and Cardano on January 13, 2023
In 2021, cryptocurrency was still very popular. Goldman Sachs has begun to accept digital currencies such as Bitcoin.In April 2021, Coinbase became the first major cryptocurrency company to go public. In October, the first bitcoin-related U.S. exchange-traded fund came out.
The most well-known cryptocurrency, Bitcoin, had a good year. Since the beginning of 2021, the value of digital currency has gone up by almost 70%, pushing the total market value of all cryptocurrencies above $2 trillion.
Related: BTC Price Forecast: Today’s Bitcoin Price, January 11, 2023
If the past is any indication of how cryptocurrencies will change in the future, investors may be in for a wild ride. Among the interesting cryptocurrency predictions for 2023 are:
How much will Ethereum cost?
At the moment, the price of Ethereum is bidding at a barrier of $1,375, which is also a barrier and has caused two large corrections in the past.
So, investors might look for a rejection followed by a change in the market structure that favours bearishness as a sign that they should short ETH. But the current resistance level could be broken, so traders should make their stop-loss orders as big as possible.
If ETH can break through the resistance at $1.375 and make a higher high, the bullish case for the price of Ethereum will start to hold true. In this case, the smart contract token might go back to the psychological level of $1,500.
How much will bitcoin cost?
The price of bitcoin has shown what is called a “bearish divergence,” which is a sign to sell. This is a technical pattern that happens when the asset makes higher highs but the momentum indicator, in this case the Relative Strength Index (RIS), makes lower highs.
This lack of confirmation shows that, even though prices are going up, momentum is weakening, the price of bitcoin is not based on anything fundamental, and it may soon start to fall.
Along with this sell signal, investors should also be aware of what was said in the previous article about how Bitcoin moves in cycles and forms local tops.
This could be a sign that the price of the most popular cryptocurrency is about to go down again. This is especially true when you consider that the price of Bitcoin has been going down for a while. As a last line of defence against a sell-off, investors should keep an eye on the $15,443 level.
If, at the end of four hours, the price of bitcoin is over $17,800, the pessimistic forecast will be wrong. In this case, BTC might try to test the psychological barrier of $19,000 again.
Cardano Price Prediction
Cardano’s price has gone up recently after dropping to less than $0.30 and hitting a low of $0.24 at the start of the year. It is now trading with a market capitalization of $9.3 billion, a 24-hour trading volume of close to $200 million, and a price of $0.2645 after a retracement.
If the rally continues and ADA goes above $0.30, Cardano could pass Dogecoin and become the eighth largest cryptocurrency by market capitalization.
When an inverted H&S pattern appears, it is a bullish sign that the trend will shift upward.A break above the neckline resistance makes the pattern more likely to be true. The H&S has already confirmed that the price of Cardano will rise by 11.7% to $0.29.
Related: BTC Price Forecast: Today’s Bitcoin Price, January 10, 2023
Since Cardano’s price hit a weekly high of $0.27, it has gone down steadily. Bullish traders are waiting for the 100-day EMA to bounce back from the area around $0.26.
Traders should try to get out of long positions in Cardano at the 200-day exponential moving average (in purple) and $0.29. Investors who want to be more careful might wait until ADA is worth at least $0.30 and, ideally, $0.33.