Cardano, VeChain & Bitcoin – American Wrap 07 May

Cardano price breakout from trading range delivers largest daily gain since March. Polygon (MATIC) precedent suggests the ADA rally is just beginning. ADA/BTC pair is on the verge of an explosive rally. Cardano price successfully released from a bullish cup-with-handle pattern on May 5, kickstarting a rally through the longstanding trading range highs while setting new all-time highs in the process. Historical precedent suggests that ADA has further to rally moving forward.

Top 3 Prediction Bitcoin, Ethereum, Ripple: BTC perplexes, as ETH consolidates and XRP activates trading rule

Bitcoin price needs a catalyst to shake the magnet effect of the 50-day simple moving average (SMA). Ethereum price meets resistance at long-term Fibonacci extension. XRP price breakout from bullish base falters, temporarily forcing traders to be defensive. Bitcoin price breakout from an inverse head-and-shoulders pattern stalls, preserving the recent tendency to underperform lesser-known altcoins. Ethereum price meets the first significant technical challenge since $2,040. Ripple price remains aligned with new rally highs moving forward.

VeChain Price Prediction: VET upswing thwarted again as sell signals multiply

VeChain price has failed its third attempt to breach the $0.228-$0.245 supply zone. A decisive close above $0.245 will signal the start of a new bull rally. The development of MRI’s sell signal worsens VET outlook as sellers eye a 12% decline. VeChain price shows an ambiguous outlook as it has set up a textbook uptrend with a series of higher highs and higher lows, but technical indicators hint at a downtrend.