• Crypto prices rose late Wednesday, with Bitcoin bouncing above $27,400 and stocks jumping as all major US indices ended the day higher.
• BNB, Cardano (ADA) and Polygon (MATIC) were among altcoins to see slight upticks during this period.
• Price predictions for BNB, ADA and MATIC include possible rises in price to $330-$350 for BNB; $0.40 for ADA; and possible decline to $0.30 for MATIC.
Crypto Market Overview
The cryptocurrency market remains largely flat today after a slow week for the broader market amid investor cautiousness on US debt-ceiling sentiment. On Wednesday, US stocks closed higher as reports emerged of positive progress from lawmakers, with the Dow ending over 400 points up and the S&P 500 and Nasdaq both notching +1.2%. In crypto, 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, while XRP, Litecoin and Dogecoin have also climbed.
Price Prediction: BNB
BNB is trading at $314 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 the averages suggesting further weakness, bears are likely to try to pull the price below strong support at $300 if successful could extend decline to $270. Alternatively if there is fresh demand lifting BNB could rise up towards EMAs allowing buyers target hurdles in range of $330 –$350 range.
Price Prediction: Cardano
Cardano was trading above 037 at time of writing up 3% in past 24 hours breaking above key horizontal line however bulls need more momentum pushing it past 040 mark targeting recent uptrend peak of 046 alternatively if bear retaking control ADA/USD pair could decline back down 30 mark .
Price Prediction: Polygon
Polygon is currently trading around 009 level with its current challenge being overcoming resistance around 013 area if successful MATIC/USD pair could drive towards previous high around 017 . If bears taking control again then price could drop towards 006 level providing good entry point for buyers looking bargain hunt .
Conclusion
Crypto prices rose late Wednesday with Bitcoin recovering back above 27K level along with stocks closing higher on reports of positive progress from lawmakers . Altcoins such as BNB , Cardano & Polygon saw some gains but still face strong resistance areas needing buyers push them through levels before extending their rallies .
