Ethereum

Cardano

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<p>The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/ethereum-and-cardano-experience-corrections-in-high-impact-market/">Crypto Market on Edge: Ethereum Falls, Cardano Soars</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The altcoin market has been on edge over the past two days, as investors eagerly await significant updates from the U.S. Federal Reserve. With the Fed’s decisions having a major impact on the crypto market, the stakes are high for altcoins like Ethereum and Cardano. </p> 
<p>Will Ethereum’s price continue to fall, or will it rebound in anticipation of the Fed’s announcements? And will Cardano’s summit provide the catalyst for a much-needed rally? Read on to find out.</p> 
<h2 class="wp-block-heading" id="ethereum-s-price-crash">Ethereum’s Price Crash</h2> 
<p>Ethereum (ETH) saw a 4 percent drop during the early New York trading session on Friday, moving from $1,872 to around $1,788. While Ethereum’s daily 200 Moving Average (MA) remains strong, the price seems set for a mid-term correction due to a developing downward divergence on the Relative Strength Index (RSI) and a potential double-top pattern.</p> 
<p><img decoding="async" src="https://lh7-us.googleusercontent.com/dAMpC6UjDUBGucdM49QWEyaDheiVcSMQyelKxbFLiesC-TDZOAFpVSMuK55HXU0NknROfH-iVE9n1A4V1JkO0GaBDNaipBOy40ezsjgWgWBBKmBrpdCQtm_uCfB90pcoRM-HB8Gexb224r8HMl0355Y" width="624" height="603"></p> 
<p>Moreover, Ethereum’s daily average trading volume has dropped by over 50 percent in the past two days, falling from about $20 billion to approximately $8 billion at the time of this report.</p> 
<h2 class="wp-block-heading" id="strong-cardano-summit-excitement-strong-at-a-high"><strong>Cardano Summit Excitement</strong> At A High!</h2> 
<p>The Cardano (ADA) community is thrilled as the CardanoSummit2023 takes place at the Grand Hyatt Dubai Conference &amp; Exhibition Centre in Dubai. Despite the enthusiasm surrounding the conference, ADA’s price has surged by roughly 12 percent over the past three days, reaching approximately $0.31 on Friday. However, ADA enthusiasts are preparing for a weekend filled with uncertainty, similar to Ethereum’s situation, as indicated by technical indicators.</p> 
<p>ADA’s price has been supported by a strong bear market rebound and the emergence of a four-hour golden cross between the 50 and 200 Moving Averages. Nonetheless, both the daily and four-hour Relative Strength Indexes (RSI) are showing signs of a mid-term bearish divergence. Therefore, ADA’s price could retrace to the support range between 27 cents and 28 cents before potentially resuming the eagerly anticipated end-of-year crypto rally.</p>

Crypto Market on Edge: Ethereum Falls, Cardano Soars

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