Cryptocurrencies Price Prediction: Cardano, Bitcoin & SUI – American Wrap 10 January

Cardano price rebounded 4% on Friday, reclaiming the $0.95 territory as BTC reached the $95,000 mark. On-chain data shows ADA market demand remains elevated despite the recent price volatility. 

In this technical article we’re going to take a look at the Elliott Wave charts charts of Bitcoin BTCUSD published in members area of the website. As our members know, we generally favor the long side in BTCUSD, and it has recently offered good trading opportunities. However, BTCUSD is currently correcting the cycle from the August low and is not ready for buying at this stage. Recently, we observed a recovery against the 108364 high, which unfolded as an Irregular Flat pattern. Once this flat correction was completed, the crypto declined as anticipated.

Sui (SUI) price recovers most of its weekly losses and trades around $5.06 at the time of writing on Friday. On-chain metrics hint at a rally ahead as SUI’s long-to-short ratio reaches the highest level in over a month, and open interest is also rising. The technical outlook suggests a rally continuation, projecting a new all-time high (ATH) of $6.35.