VeChain has been trading inside an uptrend on the 12-hour chart, but a key indicator just presented a sell signal, increasing its selling pressure. The digital asset will likely see a pullback before a potential new leg up.
Cardano price must hold critical support level to avoid 15% drop
Cardano has been trading sideways for the past 48 hours above a key support level on the 4-hour chart. The digital asset must stay above $1.18 and crack $1.20 for a significant breakout, otherwise ADA will fall steeply.
US stimulus checks boost Bitcoin
The US officials have recently unveiled a $1.9 trillion aid package. As a result, the part of this sum will go to individuals in $1400 checks per person. The interesting fact that most Americans tend to invest the money they’ve got from the government. The survey of Mizuho Securities claimed that two out of five stimulus check recipients plan to invest at least some part of this money into Bitcoin and stocks. That means around 10% of total direct payments, equal to $40B, will flow to cryptocurrencies and stocks. Moreover, Mizuho mentioned that nearly 60% will go to Bitcoin: “this represents 2-3% of Bitcoin’s current $1.1T market cap”. Therefore, the BTC will rise and other cryptocurrencies should follow it as well. Let’s analyze BTC/USD and ETH/USD – the most popular cryptocurrencies.
