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Cardano, Iota, & Tezos Price Analysis: Crypto Bulls Run Begins As Altcoins Begin To Catchup With BTC Rally

3y ago
bullish:

10

bearish:

0

Key highlights:

  • ADA saw a strong 17.44% price surge today as the coin hit the $0.151 level.
  • IOTA managed to surge by 17.3% also as it hit the $0.345 level.
  • XTZ saw a smaller 13.14% price rise to hit the $2.50 mark.

The Bitcoin rampage continues as it proceeds to edge its way back toward the $19,000 level. The number 1 ranked cryptocurrency has managed to surge by a total of around 50% over the past month alone as its market cap explodes to the $343.5 billion level.

However, Bitcoin has started to cool off ever so slightly, which has allowed altcoins to benefit from the rising prices. Today, we will cover Cardano, IOTA, and Tezos - all of which have seen substantial gains over the past week of trading.

Let us look at the named coins and provide some strong support and resistance areas moving forward.

Cardano Price Analysis

What has been going on?

ADA saw a strong 17.44% price increase over the past 24 hours as the cryptocurrency surged into the $0.157 level - provided by a 1.272 Fib Extension. This 17.44% price increase put Cardano at a fresh 2020 high and a high that has not been seen since July 2018. The cryptocurrency saw a whopping 48% price explosion over the last week alone.

The cryptocurrency had started the week at the $0.102 level, trading at the 100-days EMA. From there, it started to push higher as it became relatively parabolic by quickly breaking the highs for August and September in quick succession. 

Today, it broke the July 2020 high to reach the aforementioned resistance at $0.157.

ADA price short term prediction: Bullish

Cardano can be considered as bullish with the latest parabolic price increase. The coin would need to drop beneath $0.12 to turn neutral and break further beneath the support at the 200-days EMA at around $0.095 to be in danger of turning bearish.

If the sellers push lower, the first level of support lies at $0.15. Beneath this, support is found at $0.14 (.236 Fib), $0.13 (.382 Fib), $0.122 (.5 Fib), and $0.114 (.618 Fib).

Where is the resistance toward the upside?

On the other side, if the buyers break $0.157, the first level of higher resistance lies at $0.164 (bearish .886 Fib). Above this, resistance lies at $0.17, $0.181, and $0.189. This is followed by resistance at $0.2 and $0.202 (bearish .5 Fib Retracement).

Tezos Price Analysis

What has been going on?

Tezos saw a respectable 13.14% price rise today, which allowed the cryptocurrency to break the resistance at the 200-day EMA and hit the $2.50 level. The cryptocurrency has seen a 21% price rise this week after the coin rebounded from the $2.00 level.

Initially, the cryptocurrency found resistance at the $2.17 level, but this was penetrated on Saturday when the coin surged higher. Yesterday, it found the resistance at the 200-days EMA, which was further bolstered by a bearish .236 Fib Retracement at $2.42.

Today, the 13.14% price hike allowed it to break the 200-days EMA and spike as high as $2.60. It has since dropped to trade at $2.48.

XTZ price short term prediction: Bullish

The spike higher above $2.50 today allowed the coin to break the October highs, which has turned the market bullish. It will be important to wait for the daily candle close above the $2.50 level to confirm this. The coin would need to break beneath $2.20 to turn neutral and further beneath $1.80 to be in danger of turning bearish.

If the sellers push lower, support is found at $2.42 (200-days EMA0, $2.30 (100-days EMA), $2.25 (.382 Fib), and $2.17 (.5 Fib). Added support lies at $2.00 and $1.80.

Where is the resistance toward the upside?

On the other side, if the buyers break the $2.48 resistance, higher resistance is expected at $2.60, $2.81 (bearish .382 Fib), $2.88 (1.414 Fib Extension), and $3.00.

Beyond $3.00, additional resistance is found at $3.12 (bearish .5 Fib), $4.20, and $3.44 (bearish .618 Fib).

IOTA Price Analysis

What has been going on?

IOTA saw a powerful 17.31% price surge today, which saw the coin rising as high as $0.39. It has since dropped slightly to trade at $0.355, but IOTA has now managed to increase by a total of 36% over the past week, putting it at 3-month highs.

The cryptocurrency was trading beneath the 200-day EMA at $0.25 at the start of the week as it started to move higher. On Saturday, the cryptocurrency managed to break the October highs at $0.295 as it surged toward the $0.33 level.

Today, the 17.3% price increase saw IOTA breaking above $0.35 to hit $0.39.

IOTA price short term prediction: Bullish

IOTA can also be considered as bullish right now. The coin would need to fall and drop beneath $0.295 to turn neutral again, and it would have to break beneath the $0.23 support level to be in danger of turning bearish.

IF the sellers push lower, the first level of support lies at $0.344 (.236 Fib). Beneath this, support lies at $0.32 (.382 Fib), $0.30 (.5 Fib), and $0.28 (.618 Fib).

Where is the resistance toward the upside?

On the other side, the first level of resistance is expected at $0.38. Above this, resistance lies at $0.4, $0.42, and $0.432 (1.272 Fib extension). This is followed by resistance at $0.444, $0.456 (1.414 Fib extension), $0.463 (bearish .786 Fib Retracement), and $0.491 (1.618 Fib Extension).

Beyond $0.5, resistance lies at $0.515 (bearish .886 Fib Retracement).

3y ago
bullish:

10

bearish:

0

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