It was a sea of green in the coded currency industry as Bitcoin rose and most altcoins rose. The price of Cardano (ADA) increased by 60 %, while CRONOS (CRO), Ripple (XRP), and IOTA (IOTA) increased by more than 20 % on Monday morning. This increase raised the maximum market for all metal currencies by more than 10 % to $ 3.10 trillion. Here is the reason for this high altcoins and what can be expected.
Cardano prices analysis
The price of Cardano increased by more than 60 % after Donald Trump hinted that it would be part of the strategic coding reserves. This means that the US government may spend millions of billions of dollars in obtaining coins.
Cardano’s price increased due to his strong techniques. Fallen wedge pattern formed, the popular reversal sign. This style is formed when the original is a series of low levels and the highest low levels, with a rapprochement of trend lines.
Cardano is about to be close when he bounced. It is possible that it will continue to rise, as the bulls target a 2024 height at $ 1.328.
XRP price expectations
XRP price is a strong return in the American session as well as Trump said it would be part of the strategic reserves. Its height occurred after the bottom of the distinctive symbol reached $ 1.9607, as it has struggled to move below since November last year. This price was the neck line for the head and the shoulders, which is a famous reflection sign.
The XRP price has nullified the H&G style by moving over the shoulder section at $ 2.80. It has also moved higher than the 50 -day moving average and the level of retreat in Fibonacci by 23.6 %.
Therefore, the next Ripple price will be to see $ 3.40, which is the highest swing in January. The step is higher than this level to other gains, and perhaps to $ 5.
Cronus prices analysis
The price of Cronus increased in the night session, reaching an increase of $ 0.10, up from the lowest level a year to the date of $ 0.0683. This gathering happened a few days later CRONOS has made a partnership with Crypto.com to launch the discount card transfer.
The CRO price has increased primarily for technical reasons since it reached $ 0.0705, its lowest level in November last year. It formed a dual -bottom giant style that was the neckline at $ 0.233.
However, the CRO price has found a 50 -day moving average resistance and 78.6 % decline point. As such, there is a risk that the increase in prices is part of the dead cat, as the original has a temporary recovery and then resumes the declining direction.
IOTA price expectations
The price of its peak at $ 0.6335 in December, then decreased to a decrease of $ 0.1826 this month. Double bottom style formed at $ 0.1825. The double bottom is one of the most bullish styles on the market.
IOTA coin and then re -test the upper side of the concession channel. This channel is part of the cup style and processing that has been formed in the past few days. It also resembles the pattern of falling sorry.
Therefore, the distinctive symbol of the IOTA symbol is likely to have a strong upward outbreak, with the initial resistance level to view at $ 0.4185, by 70 % of the current level.
Read more: Cronus Prices Analysis: Here is the reason that CRO can increase by 40 %
Upper encrypted prices: Cardano, XRP, IOTA, CRONOS first appeared on Invezz
