Cryptocurrencies Price Prediction: Litecoin, Cardano & Bitcoin – European Wrap 7 April
|Litecoin price could drop 10% as LTC fails to conquer critical resistance level
Litecoin (LTC) price sees bulls making it very easy to short LTC these past couple of weeks. Since March, it has been a near guarantee that if bears shorted near $100, a big fade would occur with considerable gains for them.
On the other side, LTC bulls are each time dropping the ball in Litecoin price as soon as $100 gets mentioned by analysts, as profit-taking becomes too overpowering for the remaining position to withstand.
Cardano’s DeFi ecosystem ambition might be its biggest roadblock to success
Cardano (ADA) is one of the biggest blockchains in the crypto space, but its valuation more or less has been said to come from its hype rather than its development. Over the last few months, its growth has slowed down despite having a significantly faster network than many of its competitors.
The cause of this arrested development may well be, paradoxically, due to the loftiness of its own ambitions.
Bitcoin Weekly Forecast: BTC leaves investors guessing its next move
Bitcoin price action has remained boring since March 20 and shows no directional bias whatsoever. While the larger bullish outlook is intact, a minor retracement might ensue in the coming weeks.
However, the Nonfarm Payrolls (NFP) event is scheduled to take place today and could be the trigger required to kick-start a directional move for BTC.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.