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5th March, Daily Price Watch: Market Shows Signs Of Recovery

At the time of writing the price of Bitcoin is hovering around the $48k mark and showing some good signs of momentum. This is a slight recovery from yesterday where the price dipped to $46k. Breaking $50k again would be another good sign that Bitcoin is showing some real signs of resistance and is about to make another breakthrough.

Ethereum Finally To Break Through Resistance?

It has been a weird time for Ethereum as nothing could seemingly stop its momentum when it touched $2000 just a few weeks ago. However, a decline of 30% had seen the coin dip all the way down to $1400.

Since then the price action hasn’t been too exciting for holders but at the moment it currently sits at $1500 and if Bitcoin takes off it’s hard to imagine that Ethereum will not follow suit. Don’t be surprised to see ETH at $2k again by the end of this month.

Cardano Showing Strong Signs After Sell-Off

Yesterday there were some short-term concerns regarding Cardano and its price. The price last Friday peaked at $1.46 and almost inevitably declined throughout the week. Due to the performance of the rest of the market, Cardano reached $1.01 yesterday which signifies quite a drop but at the time of writing has recovered to $1.15. Let’s hope that the coin now can build some solid resistance as it did at the 90 cents mark and build some momentum for another huge run.

Miota and Terra (luna) On Fire

The gains of Miota have been very impressive today seeing a 7% rise with the coin now sitting at $1.35. This represents a 20X since the lows in March. Terra (Luna) is a little-known Altcoin with a market cap of just 3 billion. The performance of the market has not affected its own performance though as the coin is up 7% for the day and 31% up for the week.

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