Overview
• US stocks closed higher as reports emerged of positive progress from lawmakers.
• Bitcoin (BTC) was changing hands just above $27,000, Ethereum (ETH) was at $1,824, and XRP (XRP), one of the best performers today among the top 10 cryptocurrencies, traded near 45 cents.
• Binance Coin (BNB), Cardano (ADA) and Polygon (MATIC) were among altcoins to see a slight uptick.
Crypto Prices on the Rise
Cryptocurrency prices rose late Wednesday with stocks jumping as all major US indices ended the day higher while Bitcoin bounced above $27,400 again. Other coins to see gains included XRP, Dogecoin and Litecoin. The cryptocurrency market remains largely flat today after a slow week for the broader market amid investor caution over US debt-ceiling sentiment.
Binance Coin Price Prediction
Binance Coin is trading at $314, about 1% in the green at the time of writing after bulls turned up to defend the $310 area. However, the 20-day EMA ($317) and 50-day EMA ($319) are offering a major resistance zone. With averages suggesting further weakness, bears are likely to try to pull price below strong support at $300. If they succeed, BNB/USD pair could extend decline to $270. On other hand, if price bounces off support and BNB sees fresh demand then buyers could target hurdles in range of $330 – 350.
Cardano Price Prediction
Cardano is above $0.37 at time of writing and is up 3% in past 24 hours with breaking key horizontal line. To pull price higher buyers need to break past 040 in order to target recent uptrend peak of 046$. If bears succeed in retaking control then ADA/USD pair could decline to 030$.
Polygon Price Prediction
Polygon is currently trading around its current support level of 020$. Bulls will be looking for fresh buying opportunity around this current level with potential upside targets being 23$ followed by 25$. Bears will be looking for any signs of rejection or bearish momentum that might lead it down towards 17$ before finding another support region around 15$.