Thanks to a collaboration with Tradingview, today we are going to review three interesting price analyzes that some of their traders carried out regarding XRP, Cardano (ADA) and of course also Bitcoin (BTC).
XRP price analysis
In this first XRP price analysis, the Tradingview trader explained why the Investors are still interested in buying XRP even if the company has some major issues with the SEC. However, according to the trader, XRP is still cheap.
“There are many ways to move the settlement forward, but it's hard for me to see it being so ruinous that Ripple has to shut down. The fact that it is so obviously a step up for payments means that investors can support Ripple to go ahead, pay a fine, and get it going. Either way, XRP seems cheap to me. He hasn't shared much of the recent cryptocurrency rally across the board. "
Cardano (ADA): solid bullish trading channel
About Cardano (ADA), its price seems not to be correlated with the value of BTCQuite the contrary, as the Tradingview analyst explains:
“One point of ADA that is important to understand is that, unlike most ALTCOIN projects, ADA tends to have a more negative correlation with Bitcoin. That is, when BTC goes down or stagnates, ADA tends to do well. "
Furthermore, the trader continues his analysis by giving his own prediction on the ADA price:
“It is important to look at the strength of BTC, as that can give us a short-term indicator of how much more room for preparation ADA can have before settling down and consolidating. In the long term, I strongly believe that the ADA will be over $ 10 by the end of this bull market cycle. "
Bitcoin: Elon's FUD or Technical Confirmation?
As far as Bitcoin is concerned, another Tradingview analyst explains that the price is falling not because of Elon Musk's decision not to accept more BTC, but because of a head and shoulders pattern that started on May 11.
“Remember, this is an $ 800 billion market cap asset that I think not a single person can change the majority bias for a higher period of time. In fact, we have seen the sign of a potential drop since May 11, when there was a confirmation of a lower high structure as the validation of the Head and Shoulder pattern on the daily time frame. Confirmation of lower height and right shoulder is also a sign of loss of momentum. Personally, I am a technical maximalist and I do not believe in fundamentals because it is a totally manipulative action that is converted to the content of the media to drive traffic for its own benefit. The higher time frame bias may not change and if you look at it from a technical perspective, it is legitimate and reliable. "