Bitcoin, Cardano & Compound - American Wrap: 9/29/2020

Bitcoin ‘Difficulty Ribbon’ Chart Hasn’t Been This Bullish Since March

Bitcoin difficulty ribbon compression has broken out of a bear trend it has been in since the March coronavirus crash.

Bitcoin (BTC) simply needs history to repeat itself to see significant price rises, according to two indicators now flipping bullish.

Cardano Price Prediction: ADA Could Be Poised For A Potentially Deadly Selloff

On the daily chart, the 100-MA and the 50-MA had a death cross on September 23. This pattern indicates the potential for a major selloff even though ADA is rebounding. The 50-MA at $0.108 will act as a resistance level in the upcoming days.

Compound Price Analysis: COMP Bulls Are Looking For A Comeback, Metrics Suggest

Compound is one of the most successful DeFi projects to enter the cryptocurrency market. After its listing on exchanges in June 2020, the price of COMP quickly jumped from a low of $66 to a high of $326. The digital asset got close to $1 billion in market capitalization and was almost immediately listed on the most popular exchanges, including Binance and Coinbase. 

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