The crypto market is on the rise again. The reasons are the recent ATH of Bitcoin and the approval of the CLARITY and GENIUS bills by the U.S. House of Representatives.
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Lido DAO (LDO) $LDO
The price of LDO has increased by 22% in the last 24 hours, reaching $1.13, after BitGo announced support for ETH staking via the Lido protocol. B***o became the first American custodian to support ETH staking through Lido. This strengthens confidence in the altcoin and its prospects.
It is expected that the announcement will support further LDO growth over the weekend.
The price may overcome the resistance level of $1.18. Strong support is indicated by the Parabolic SAR indicator points below the price candles. It may support the altcoin's growth to $1.34, which would be a 4-month high.
If LDO cannot overcome the resistance at $1.18, it risks facing selling pressure. In this case, the token may drop to $1.07, and losing this support could send it to $0.99. This would cancel the bullish forecast and indicate a possible decline.
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Ethereum Classic (ETC) $ETC
The altcoin is currently facing resistance at the level of $24.52. Breaking this barrier is necessary to maintain upward momentum and reach new price levels. However, the coin needs strong investor support.
Ethereum has reached a 6-month high, and Ethereum Classic (ETC) may benefit from this rally. The growth of ETH could push ETC beyond the resistance of $24.52, opening the way to $27.21.
However, the Relative Strength Index (RSI) is above the 70 mark, indicating that ETC is overbought. This may signal a possible price reversal.
If the market cools down, ETC could fall to $20.81, nullifying recent gains and invalidating the bullish forecast.
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Analysis of the altcoin Cardano (ADA) $ADA
At the time of writing, the price of Cardano reached $0.87. The altcoin benefited from the overall market optimism and the rise of Bitcoin. This momentum supported the growth of ADA.
If investors maintain confidence, the upward trend may continue. Cardano (ADA) approached the important level of $1.00. However, it must first overcome the resistance at $0.93. The 50-day EMA indicates an upward trend, signaling a possible golden cross that could further support ADA's growth in the coming days.
However, the token may face a correction if the market turns bearish. If Cardano drops below the support level of $0.85, it risks falling to $0.80 or $0.74. This would invalidate the current bullish scenario, indicating a possible reversal.
