Cardano (ADA) Price Analysis
Cardano has been trading under bearish influence for over 25 months, triggering a strong rebound early in the fourth quarter of 2023. Prolonged tightening may be the main reason, as the bull market used its accumulated strength to push prices above the ideal. 180%. Currently, ADA price appears to be at a critical stage where a bullish bounce could lay the foundation for a new uptrend.
In the long term, the price of Cardano appears to be orbiting within a parabolic curve. In previous rallies, the cryptocurrency underwent a parabolic recovery and hit a high above $3 in August 2021. It has maintained a bearish trend since then. However, the recent rebound has been sufficiently strong, proving its recovery power. Therefore, it is believed that the price will maintain a healthy upward trend along the curve to form a new ATH towards the end of the third quarter of 2024 or the first few weeks of the fourth quarter.
Ripple (XRP) Price Analysis
Market participants appear to have lost interest in the cryptocurrency as the price of XRP fluctuates significantly due to huge changes in trading volume. This surprisingly kept the level within a narrow range, preventing the bears from taking over the rally. Now that the bulls are trying hard to regain control of the rally, a bullish rally could push the price out of its decisive pattern.
The weekly chart of XRP price shows that the bulls maintained greater dominance despite temporary bearish pressure. After trading within a symmetrical triangle for over 30 months, the price is consolidating firmly above the upper resistance line of the triangle and the 0.23 FIB level. Volatility is expected to remain within current levels, with further breakouts expected. Therefore, the XRP price may continue to consolidate in the coming months, after which a breakout could take the price not only above $1 but also close to previous highs.