The crypto market is showing signs of a comeback. In this new year of 2023, it is important to understand the potential of each cryptocurrency. Saying that a specific cryptocurrency is going “to the moon” is never enough. In this crypto prediction article, we analyze Bitcoin, Ethereum and MATIC in the coming month of February 2023.
Bitcoin Price Prediction: BTC above 25K?
Bitcoin prices managed to break the resistance price of $21,200. Since then, prices continued on a steady uptrend. In figure 1 below, we can see how prices are attempting to break the second resistance of $23,400. If this is done successfully soon, BTC should continue higher and reach the area between $26,000 and $28,000 by the end of February 2023.
Fig.1 BTC/USD 4-hours chart – GoCharting
Ethereum Price Prediction: ETH to 2K?
In a previous article, we spoke about how Ethereum formed a descending triangle pattern. We also predicted that ETH would rebound at the lower bound and then attempt to break the upper triangle. This is exactly what happened, as Ethereum prices hover above $1,600. If the crypto market continues higher, ETH should reach the price area between $1,750 and $2,000 as a stretch.
Fig,2 ETH/USD 4-hours chart – GoCharting
MATIC Price Prediction: Lower retracement in sight
MATIC prices broke the resistance price of $1 and continued higher. In a previous crypto prediction article, we analyzed MATIC prices from a technical perspective and laid out potential targets. MATIC should definitely reach $2 if the crypto market continues higher in the month of February 2023. However, we expect MATIC prices to adjust lower after such a price increase. This would slow down MATIC’s uptrend, reaching towards the end of February anywhere between $1.3 and $1.5.
Fig.3 MATIC/USD 1-day chart – GoCharting
Introducing the CryptoTicker Podcast
Every Wednesday, you can tune in to the Podcast on Spotify , Apple other YouTube. The episodes are perfectly tailored for a duration of 20-30 minutes to quickly and effectively familiarize you with new topics in a fun setting on the go.
Subscribe & never miss an episode
Spotify–Amazon –Apple – YouTube
You might also like