What are the latest news stories that are affecting the price of Bitcoin, Cardanoย (ADA) and Litecoin (LTC) cryptocurrency assets?
Below are all the details and a look at the latest news.
Bitcoinย (BTC) cryptocurrency price stable at $27K: what will be theย following value?
As we know, worldwide financial markets are worried about theย capacity fallout from a Unitedย States debt default.
Inย theย meantime, Bitcoin, the main digitalย currency, remains stable, holding value around $27K, creating ambiguity about its next steps amid economic turmoil.ย
Althoughย while talks remain deadlocked on raising the Unitedย States governmentโs $31.4 trillion debt ceiling, sparking jitters in financial markets, some analysts are distancing themselves from trending opinion.
Inย particular, they warn that a potential deal could makeย a downturn in the digitalย currency market.
Glassnode, an on-chain analytics company, recently reports a wholeย lotย of pause in digitalย currency market activity.ย
Regardlessย of expected market fluctuations, Bitcoin, the largest digitalย currency by marketย cap, has maintained a remarkably steady price range for plentyย of months.
This remarkable stability continuesย regardlessย of ongoing concerns about the soundness of Unitedย States regional banks and the national debt ceiling.
Andย once the debt ceiling is soonerย orย thereafter raised, the Treasury is expected to replenish its cash reserves by issuing more Government bonds. This could potentially drain liquidity from the system and apply upward pressure on bond yields.
Because increased issuance often leads toย reduce prices and higher yields, Bitcoin, which typically moves against bond yields, could suffer.
So while a deal could alleviate wholeย lotย of economic uncertainty, assets like Bitcoin, which lack links to the tangible economy and rely heavily on fiat liquidity, could essentially face challenges.
Focus on the price of Cardanoย (ADA) (ADA): how it compares to Bitcoinย (BTC) and Litecoin
Accordingย to the latest data, regarding the price of Cardanoย (ADA), we see that as the price consolidates below key resistance, ADA could attempt a breakout.
Inย particular, we identify key support levels at $0.36 and $0.34. Onย theย otherย sideย , key resistance levels are identified at $0.38 and $0.40.
Hence, the price of ADA has formed a double low with good support at 36 cents. As long as this key level holds, positiveย tendency traders have a good chance of taking the ADA price to resistance at 38 cents.ย
Instead, a breakout over would confirm the end of this correction that began in April. Instead, we see volumeย ofย trading continuing to be low and momentum still to return for the bulls.
Additionally, the daily RSI is registering higher bottomย Line, which gives hope for an next reversal. Inย termsย ofย the daily MACD, it recorded a positiveย tendency cross today, and if buyers return, itย canย potentially signal the beginning of a positiveย tendency trend.
Inย summary, Cardanoย (ADA) is at a critical juncture that will be decisive for the rest of the 30ย days. If buyers manage to return and break key resistance at 38 cents, then ADA will turnย positiveย tendency and could soonerย orย thereafter visit 40 cents.
The critical $90 level for Litecoinโs price value
Regardlessย of the prevailing selling pressure in the digitalย currency market, Litecoin has resurfaced as an outstanding performer.ย
Despiteย theย factย that the past 24 hours have not witnessed any wholeย lotย of movement in LTCโs value, the weekly chart outlines an appreciation of nearly 4%.
A wholeย lotย of breakthrough tookย place when Litecoin broke through the critical $90 price level, signaling a positive shift in its price.
Technical analysis impliesย that bulls dominate the price action, with demand and accumulation indicators showing positive signals.
Most cryptoย altcoins, including Litecoin, have shown similar price patterns influenced by Bitcoinโs fluctuations.
Thisย isย why, whether the price of LTC remains over the $90 threshold will depend on the overall strength of the broader market.ย
Should Bitcoinย (BTC) recover the $27,000 area, itย canย potentially pave the way for Litecoin to overcome its wholeย lotย of environmental resistance in subsequent trading sessions.
Despiteย theย factย that LTC buyers asย ofย now hold a favorable position, it isย worthย mentioningย that a slight push from the bears could potentially take the price below $90, provoking bearish activity.
Nonetheless, the boostย in Litecoinโs marketย cap in theย pastย few session impliesย that buyers are asย ofย now in control.
Asย ofย now, Litecoin (LTC) is valued at $91.02. The altcoinโs success over the $90 mark has armed the bulls, who are now pushing prices even higher.
Nonetheless, a formidable barrier lies at $92.8. Breaching this resistance level could potentially push LTC toward the $97 threshold.
Conversely, sliding from theย present price level would push the cryptoย altcoin below $90. In this case, support could lie at around $86. LTCโs volumeย ofย trading from theย pastย few session was positive (green), indicating growing demand for the coin.
