Cryptocurrencies Price Analysis: Ethereum, Cardano, ICON, VeChain, NEM

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • The overall market chart indicates that the bears have again taken control of the crypto market. 
  • BTC has again fallen below the crucial level of $8k which makes it more vulnerable to significant downfall in upcoming days.
  • Ether was showing the potential to sustain above the safe level of $200 but is facing an overall loss of 3.05 % which forced the price to plunge below the mark. 
  • The overall market capitalization is $222,387,368,846 and volume traded of $133,351,505,808. The dominance of BTC is, however, taking gradual momentum and reached 64.3%.

Screenshot (66)
Source: Coin360 

Ethereum(ETH) Price Analysis 

eth

Ethereum has reached its major support level of $195 due to the overall major downfall in the market. The current price is at 196.86 with an overall loss of -2.90%. The market capitalization is $21,668,428,427 and volume traded of $16,699,333,208.

Ethereum broke the support level of $200 and went to the price level of $199 but somehow managed to climb to the safe zone for now. But looking at the current conditions, it will be a challenging task for ether to again gain a safe spot from now on. 

Cardano (ADA) Price Analysis 

ada

Cardano is also on the negative momentum in today’s market. It is facing an overall loss of -3.78%. The current price is $0.040 with the market cap of $1,054,719,602 and the 24H volume traded of $95,195,992. If the altcoin goes down below the major support level of $0.040, it is expected that bears will sustain for Cardano.

However, if it manages to surpass the level of $0.045, it can be treated as a positive sign to start another bullish momentum from here. But any drop below $0.038 will result in major pricing correction for the altcoin.

ICON (ICX) Price Analysis

icxICON is also facing downtrend due to the overall bearish movement in the market. The altcoin is now at the support level of $0.30. The current price is $0.304250 with a market cap of $160,427,722 and a volume traded of $20,412,798.

The ICX/BTC pair is also facing negative momentum in the market with a loss of -2.62 bringing the level to 0.00003887 BTC. Any further downfall below this crucial support level will be making bears more impactful in the market.

VeChain (VET) Price Analysis 

vet

Vechain is also facing a significant downtrend in today’s market. It is facing an overall loss of -3.80% bringing the current price to the support level of $0.0045. The market capitalization is $254,021,695 and volume traded of $99,207,424. The VET/BTC is also facing a loss of -1.50% bringing the level to 0.00000059 BTC.

VET is also strongly supported by the price level of $0.0040. Any break below the support level will be an indication of a major upcoming downfall for the cryptoasset.

NEM(XEM) Price Analysis 

nem

NEM is on bearish momentum after breaking a $0.050 mark. Currently, it is down by -3.78% and the current price is $0.04581. The altcoin is currently on its support level of $0.045 and $0.040 respectively and further downtrend from here can result in major price pullback.

The market capitalization is of $408,549,992 and the 24H volume traded is of $27,464,884. However, if NEM bulls came into play, the resistance for this altcoin will be at $0.0050. If it goes down below $0.040, the support level will be at $0.039 and $0.037 respectively.

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