• Crypto prices rose late Wednesday, with BNB, Cardano and Polygon all looking to break key resistance areas.
• Stocks jumped as the major US indices ended the day higher while Bitcoin bounced above $27,400. Other coins such as XRP, Dogecoin and Litecoin also saw gains in this market.
• BNB, ADA and MATIC were among altcoins to see a slight uptick; however, investors remain cautious about US debt-ceiling sentiment.
Crypto Prices Rise Late Wednesday
Crypto prices rose late Wednesday, with Binance Coin (BNB), Cardano (ADA) and Polygon (MATIC) all looking to break key resistance areas. Stocks also jumped as the major US indices closed higher for the day, while Bitcoin (BTC) bounced above $27,400 again. Other coins such as XRP (XRP), Dogecoin and Litecoin also saw gains in this market.
US Debt-Ceiling Sentiment
Despite these positive developments in crypto markets, investors remain cautious about US debt-ceiling sentiment after reports of positive progress from lawmakers emerged on Wednesday. The Dow ended over 400 points up and the S&P 500 and Nasdaq both notched +1.2%, while BTC was trading just above $27,000 at press time and ETH was at $1,824.
Short Term Price Predictions
Here is a short term price prediction for BNB, ADA and MATIC:
– BNB is trading at $314 with bulls turning up to defend the $310 area; however 20-day EMA ($317) and 50-day EMA ($319) are offering a major resistance zone. If bears succeed in pushing the price below support at $300 then BNB/USD pair could extend its decline to $270; conversely if there’s fresh demand then buyers could target hurdles between $330-$350 range.
– Cardano is currently trading above $0.37 but bulls need to break past the key horizontal line of $0.40 in order to target recent uptrend peak of $0.46; conversely if bears retake control then ADA/USD pair could decline to around $0.30 level instead of rising further up towards its peak value of around 0$.46
– Polygon is currently trading near its all time high levels of around 0$.95 but it could face resistance there before extending gains further up towards 1$ mark or more depending on how traders react within that particular region near 95 cents support area or resistance area respectively after breaking out from previous highs near 0$.80 . On downside if it fails than it could retreat back down towards 0$.77 or lower depending on how strong bearish momentum becomes during that time frame period..
Long Term Outlook
In terms of long-term outlooks for these cryptocurrencies we will have to wait until more news surrounding their respective projects become available which may influence their respective prices positively or negatively depending on what type of news are released by those particular projects be it good or bad news respectively..
Overall crypto prices remain largely flat today despite some positive movements seen yesterday across US stocks markets which were driven by reports surrounding possible progress between lawmakers regarding borrowing limit issues etc,. As far as crypto markets are concerned majority of them remain unchanged today after a slow week overall except certain altcoins like XRP , DOGE ,LTC which saw some decent percentage gains yesterday compared to others..