The crypto town continues to be ridden by the bears while costing investors time and patience. The lengthening cycles have been making way for prolonged corrections. The market cap of the crypto street is currently hovering around $2,700,827,489,183 with gains of 1.3%.
The volumes for 24-hours is at $154,098,554,636. The dominance of the star crypto is currently at 39.5%, while that of Ethereum is at 18.8%. Crypto analyst enlightens the price movements of Ethereum and Cardano, while enthusiasts seek price projections of bluechip coins.
Will Altcoins Breakthrough The Barriers?
Traders have been looking out for price projections of bluechip coins like Ethereum and Cardano, prior to the start of December. Meanwhile, analyst pens the price movements of ETH and ADA on the market charts. According to sources, The amount of supply last active 3m-6m (1dMA) just reached an ATL of -3,569,830.830 ETH. The last ATL was just 2-days ago.
While the number of addresses holding 0.1+ coins just reached an ATH of 6,230,923. Other data also favors the Ethereum network’s prospects. Cardano makers will be introducing three keychains to empower the security and privacy of the protocol. Which is in addition to the oncoming events, which CoinPedia had earlier reported.
ETH at press time is trading at $4,278.64 with gains of 2.3%. While the market cap is at about $508,170,047,338. The trade volumes for around the clock are at $21,718,512,546. The analyst mentions that the crucial point for the altcoin is at $4,500. While the asset is forming higher highs and higher lows on the chart. That could be a possible hint towards an uptrend.
He expects the coin to test towards the support area around $4,000. With the Bitcoin pair also testing similar lower levels. The digital coin has been moving sideways, from a zoomed-in perspective.
ADA at press time is trading at $1.66 with negative gains of 6.7%. The market cap is currently floating at $53,310,725,104. While the trading volumes for 24-hours is at $2,144,445,371. The analyst mentions that the digital asset has been heavily moving southwards.
ADA has been forming lower-highs and lower-lows on the charts. The asset is inching closer towards the support around $1.50. However, more corrections could follow along its projection towards $1.50.
I’m still expecting $ADA to drop a bit more before we’re going for a new run.
Technically, with most of the crypto at this point.
(put aside the strength on Metaverse etc.) pic.twitter.com/9OSTzLTTJm
— Michaël van de Poppe (@CryptoMichNL) November 24, 2021
Collectively, altcoins could embark on a northward trek towards the poised altseason which is expected to be massive. Which is anticipated to arrive by Q1 of 2022. Hopefully, the aforementioned coins initiate retracements to higher levels.