•Cryptocurrency prices rose late Wednesday, with BNB, Cardano and Polygon looking to break key resistance areas.
•US stocks closed higher on positive progress from lawmakers, while Bitcoin bounced above $27,400 again.
•Altcoins such as XRP, Dogecoin and Litecoin were also seeing gains.
The cryptocurrency market remains largely flat after a slow week for the broader market amid investor cautiousness on US debt-ceiling sentiment. On Wednesday, US stocks closed higher as reports emerged of positive progress from lawmakers, with the Dow ending over 400 points up and the S&P 500 and Nasdaq both notching +1.2%. In crypto, Bitcoin (BTC) was changing hands just above $27,000, Ethereum (ETH) was at $1,824, and XRP (XRP), one of the best performers today among the top 10 cryptocurrencies, traded near 45 cents. Binance Coin (BNB), Cardano (ADA) and Polygon (MATIC) were among altcoins to see a slight uptick as well.
Binance Coin Price Prediction
BNB is trading at $314 around 1% in the green at the time of writing after bulls turned up to defend the $310 area. However, the 20-day EMA ($317) and 50-day EMA (319) are offering a major resistance zone that suggests further weakness ahead for BNB/USD pair. If bears succeed in pushing below strong support at $300 then it could extend its decline to $270. On the other hand if it bounces off support then BNB could target highs in the range of 330 – 350$.
Cardano Price Prediction
Cardano is currently trading above 0.37 USD but buyers need to break past 0.40 USD in order to target recent uptrend peak of 0.46 USD else price could decline towards 0.30 USD if bears regain control .
Polygon Price Prediction
Polygon is currently trading near 2 USD but bulls need to break past 2.20 USD in order to attract more buyers into volatile markets else price could drop towards 1 USD if bears gain control .
The bullish momentum continues across all major cryptocurrencies as investors look for potential profits following positive news coming out from US stock markets today . All three cryptos discussed : Binance , Cardano & Polygon have seen some upward momentum with each having their own targets they must reach before further gains can be expected .