Ethereum, Cardano analysis: July 12, 2021

The Ethereum price remains above $ 2400, with the expectation of rising to $ 2100.
Cardano is on the verge of a break, based on the compression of Bollinger Bands.

Crypto assets across the board seemed to be on the right track on Monday. Despite trading in the red last week, the weekend session was successful and steady. Bitcoin was reportedly trading at $ 34,500, up 3.4% on the day. Ethereum breaks the $ 2200 mark in the near term, while Cardano is trading almost 4% at $ 1.37.

Ethereum managed to keep the price at $ 2000 and sabotaged its forecast of a drop towards $ 1800. As mentioned earlier, the weekend session was boring, but the Bulls fully controlled the price on Monday during the Asian session.

At the time of writing, Ethereum was trading at $ 2160 and remains committed to the main support of the 100 Simple Moving Average (SMA). A break above the merger resistance of 200 SMA and 50 SMA of $ 2,200 would confirm the expected recovery of up to $ 2,400.

In the four-hour chart, it is necessary to indicate bullish signals from the Moving Average Convergence deviation indicator (MACD). The likelihood of a backlash increased when the 12-day EMA passed the 26-day EMA. Crossing the MACD line in a positive area will add confidence to the bullish outlook.

ETH / USD four-hour chart

ETH / USD price chart from Tradingview
Cardano’s price rose above $ 1.3 last week, prompting calls for losses below $ 1 to be cancelled. Later, the Bulls moved in, pushing the price above $ 0.35. The huge burden of sellers, however, continues to limit the $ 1.4 profit.

Still, the live compression of the Bollinger band suggests Cardano is nearing a significant break. The area between the upper and lower decks is a relatively limited area for trade. Therefore, a four-hour closing above or below this area will determine the breakout direction.

Ada / USD four-hour chart

ADA / USD price chart for Trade Review
October four-hour MACD adds weight t

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