Cardano, SafeMoon & Bitcoin – American Wrap 04 June

Bitcoin price flashes bull trap as bearish pennant attempts to resolve to the upside with limited commitment and emotion. Ethereum price falls short of the double bottom trigger after closing May with a long-legged doji pattern. XRP price fails to maintain the psychologically important $1.00 and now projects notable downside for the international settlements token.

Cardano Price Prediction: ADA bleeds 12% but shows signs of recovery

Cardano price broke below a rising wedge pattern and crashed 12%.ADA looks at a reversal to the $1.833 supply barrier, but a dip towards $1.488 to $1.566 demand zone is likely. A breakdown of $1.488 will invalidate the bullish reversal thesis. Cardano price followed the broader cryptocurrency market as it tumbled after Elon Musk’s tweet on Friday. However, ADA seems to have found a support barrier and shows signs of reversal.

SafeMoon Price Analysis: SAFEMOON drifts lower as enthusiasm vanishes

SafeMoon price evolution since May 25 has tested the patience of bullish investors. The rookie digital asset has not commanded sustainable buying pressure, instead staying locked in a descending channel offering brief swing trading opportunities. Until SafeMoon price can free itself from the channel and reignite SAFEMOON enthusiasm, investors should be content with minor double-digit returns.