The post Bitcoin, Ethereum, and Cardano Earn ‘Buy’ Ratings: Here’s Why appeared on BitcoinEthereumNews.com.

Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA) have demonstrated bullish setups on technical charts, supporting optimism for further price gains. Ethereum’s cup-and-handle pattern signals a potential 72% rally, targeting $6,172 if it breaks resistance around $4,000. Weiss Crypto Ratings has given a “Buy” rating for Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA). This comes as these cryptocurrencies outshone the market in recent times and hold excellent technical indicators. The growing accumulation of these major cryptocurrencies, as reflected in exchange outflows, is a testament to investor confidence. Bitcoin, Ethereum, and Cardano are all showing technical setups that support a bullish outlook. Bitcoin Price Continues Momentum Above $100,000 Bitcoin price has remained stable above the $100,000 mark, with a recent 1.26% increase to $104,395.03 on Sunday, January 19. BTC now boasts a market capitalization of $2.06 trillion and dominates 57.7% of the total market, reflecting robust bullish sentiment, per the previous blog post.  Source: TradingView Technical indicators point to the upward trend continuing. The Moving Average Convergence Divergence indicator shows a rising green histogram, which may suggest further upward movement. In addition, the convergence of its averages strengthens the argument for price growth. According to the latest statistics, more than 20,000 BTC, valued at over $2 billion, have been withdrawn from exchanges in only four days. This trend could mean increased accumulation by investors. In case the price continues above $100,000, Bitcoin is likely to approach $108,000 soon. A reversal might send the price below $98,000. Ethereum Price On Cusp Of A Breakout As Supply Shrinks Ethereum has also witnessed a notable outflow of assets from exchanges. The past month has seen about 540,000 ETH worth $1.84 billion leave exchanges. These withdrawals could indicate increased accumulation or staking preparation. Historically, Ethereum price tends to do well in the first quarter of odd-numbered…

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Filed under: News - @ January 20, 2025 11:21 am