Bitcoin recorded one of its best trading days in nearly two months, galvanizing market sentiment and capital deployments.
According to CoinMarketCap, six cryptocurrencies posted double-digit price gains as Bitcoin (BTC) zoomed past $66,000 in the last 24 hours and grew over 6% on May 15.
At press time, data showed that Fantom (FTM), Sei (SEI), Immutable (IMX), Core (CORE), THORChain (RUNE), and Sui (SUI) each boasted increases of more than 10% in token price.
$ETH Can Cardano Hit $9.98? While this $9.86 price might appear unfeasible to most, some market analysts have recently presented price targets around the region. Analyst Ali Martinez predicted on May 3 that Cardano has the potential to spike to a $9.9 price, citing historical patterns from the previous bull run.
Moreover, this Wednesday, The Crypto Basic presented a list of several market watchers that have projected Cardano to reach a price around the $10 threshold at multiple timeframes, including the crypto YouTube channel Altcoin Daily and notable crypto chartist Lucid.
Meanwhile, others expect a lower price for Cardano, but the projections remain bullish. For instance, analyst Jake Gagain predicted in March that ADA would reach $7.5 next year. Chris O’Connor, founder of Cardano Ghost, asserted that ADA could hit $6.66 to $7.77 depending on its trajectory during this current cycle.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
The crypto market leader, Bitcoin price, continues hovering close to the $62,500 mark, resulting in top memecoins such as Dogecoin, Shiba Inu, and PEPE recording a notable correction in their respective portfolios since the start of this week.
On the other hand, the network congestion on the Solana Network has turned out to be a major issue for its blockchain, resulting in the Solana-based memecoins having the highest impact with the BOME price recording a correction of approximately 10% within the past day.
Moreover, the Book Of Meme price has faced repeated rejection at its resistance level of $0.0123, indicating a strong liquidation for this memecoin at that point.
The Cross EMA 50/200-day records a strong bearish price sentiment in the 1D time frame with the EMA 50-day displaying a bearish convergence, highlighting a negative outlook for this memecoin this week.
The technical indicator, RSI, shows a significant decline in the chart, highlighting an increase in the selling-over-buying pressure in the crypto space. Furthermore, the average shows a bearish curve, indicating a negative price action for the BOME price in the coming time. Will BOME Price Go Up? If the market experiences a bullish reversal, the BOME price will retest its resistance level of $0.011060 this week. Moreover, if the bulls hold the price at that point, the memecoin will prepare to test its upper resistance level of $0.0123 during the upcoming week.
Negatively, if the bears continue to overpower the bulls, the price will trade under a bearish influence and test its support level of $0.0099. Furthermore, if the market sentiment continues to be bearish, this memecoin will plunge toward its lower support level of $0.0086 this month.$SOL $BOME