The cryptocurrency market has broken its months of consolidation, with Cardano (ADA) and Ethereum (ETH) experiencing bullish price movements. Experts have weighed in on ADA’s potential to reach $0.50 and ETH to reclaim $2,000. Meanwhile, Bitcoin Spark has been voted as the dark horse for the next crypto rally.
Cardano Price Prediction: Technical Analysis Support Rise To $0.50
Uptober ended as a great month for Cardano, rallying from a low of $0.24 to hit $0.30. However, the Cardano coin failed to hold the $0.30 resistance, dropping back to $0.298. Despite this, market analysts are convinced that the ADA price will reach $0.500.
They have highlighted ADA’s bullish divergence as a possible cause for an uptrend. The Relative Strength Index (RSI) of ADA suggests that an even stronger uptrend could happen. In addition, the TVL of the Cardano network has continued growing.
If the bullish momentum is maintained, ADA could break above the $0.300 resistance soon. The Cardano price prediction, if this happens, suggests that ADA could rally to $0.300 in the coming weeks. However, $0.300 remains the level to watch for ADA bulls.
Can Ethereum Gather Momentum To Breach the $2,000 Resistance?
The price performance of Ethereum was similar to ADA’s in the recent rally. However, the Ethereum price managed to hold the $1,800 resistance despite the recent pullback. With the Ether still sustaining bullish momentum, investors are asking, how high can Ethereum go?
Analysts have pointed to the US Federal Reserve interest rate decision as a major short-term influencer of the Ethereum price chart. If interest rates are unchanged, like 98.2% of traders (CME Fed Watch Tool) expect, then the Ethereum forecast suggests a continuation of the recent uptrend.
In this bullish scenario, Ethereum price predictions suggest a rally to $2,000. ETH only briefly traded above $2,000 in April and July. A convincing break above this level could mark the beginning of a bull run for Ethereum.
Bitcoin Spark Picked As the Dark Horse for the Next Bull Market
While analysts have predicted significant gains for Cardano and Ethereum, they are not close to the potential of Bitcoin Spark. Firstly, Bitcoin Spark (BTCS) is a fork of Bitcoin. As such, BTCS has been predicted to benefit from the approval of a spot Bitcoin ETF and the 2024 halving of the network.
Unlike other forks, Bitcoin Spark has been highly rated because of its unique offering. While it retains the codes of Bitcoin for maximum security and privacy, it has included great features that are lacking in the original network.
The most talked about is smart contract functionality. While this is lacking in Bitcoin, developers will be able to build and deploy dApps and DAOs on the Bitcoin Spark network. In addition, the network will operate on a new hybrid consensus model, Proof-of-Process.
These features have made Bitcoin Spark one of the best crypto to buy now. As it is in the early ICO stages, investors have been given a second chance to join Bitcoin early. BTCS now trades at $3.50 in stage 9 of its ICO. Analysts have predicted that BTCS would set an ATH of %50 in the upcoming rally.
Find out more about the Bitcoin Spark ICO below:
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