The cryptocurrency market digest (BTC, ETH, ADA). Overview for 25.03.2022

March 25, 2022

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The BTC is slowly going north but the good news is that there are more buyers than sellers. If the market succeeds in keeping the current uptrend for the next couple of days, there is a chance the asset might successfully test $45,000. In this case, the upside target will move to $46,000 and one may talk of a trend reversal in favour of bulls.

In the last 10 days, the BTC rate leaped up 15.7%; the crypto market capitalisation is currently estimated at $1.96 trillion.

Bitcoin chart online

ETH: nowhere but up

The rate of the major altcoin, the ETH, has broken $3,000 to the upside, just as expected. At the moment, the ETH is trading at $3,124 and looking much more confident than the BTC. The closest resistance is at $3,130 and if the price breaks it without corrections, there is a chance that the entire crypto market may follow the ETH. It doesn’t happen very often – as a rule, the BTC leads the way.

The next upside target for the asset might be at $3,250.

Ethereum chart online

NFT: everybody needs one

Non-fungible tokens become more popular with every passing day. For example, Madonna has recently bought an NFT with a bored ape from the “Bored Ape Yacht Club” collection for $556K (180 ETHs). In fact, the NFT leaped up 400% over the last seven months.

Cardano: opportunities for growth

The ADA cost rose after Coinbase added the opportunity of cryptocurrency staking. It is believed that the annual yield of the ADA staking is about 3.75%. The Proof-of-Stake model operates as long as the cryptocurrency remains on the user’s account. It means that in about three weeks, a user can generate a passive income to their account.

The ADA rate is moving within the mid-term uptrend with the target at $1.26.

Cardano chart online

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.