Cryptocurrencies Price Prediction: Bitcoin, Dogecoin and Ethereum – European Wrap 11 May – FXStreet
Bitcoin price seems to have cauterized the bleed wound after dipping below significant support levels. This brief pause in the big crypto’s downtrend has caused Ethereum, Ripple and other altcoins to rebound violently to the upside. However, things could take a quick and unfavorable turn as the LUNA-UST fiasco is still ongoing. TerraLabs’ LUNA price has crashed a whopping 93% as the UST peg becomes unstable.3
Dogecoin price is grappling with the lower trend line of a bullish pattern. This development comes after a wildly bullish narrative over the last few weeks. Therefore, investors need to pay attention to Bitcoin’s directional bias.
Ethereum (ETH) price is still set to rebound roughly 22% and erase the incurred losses from the past few trading days. But price action this morning during the ASIA PAC and European session is consolidating, with lower highs, and higher lows as bears and bulls are squeezed towards each other. Expect to see a pop higher with a bullish breakout either straight away after the consolidation or after a small drop and bounce off $2,278.42 with the double technical bottom in place.
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Solana has gained over 42% in market value in the past 24 hours after experiencing a brutal crash to $37. The sudden spike in interest helped SOL regain the psychological $50 level as support.
Crypto.com price has been on a steep corrective move for more than five months. This correction sped up after the FOMC meeting on May 4 and took a nosedive on May 5.
XRP price has recouped losses from the pullback on May 11 as the payment giant prepares for its SEC v. Ripple court date on May 13, 2022. XRP proponents have retrieved and shared William Hinman’s emails that the SEC sought to protect.
Shiba Inu (SHIB) price is recovering a bit after it incurred massive losses and instead looked like a wounded deer that has its life hanging by a thread.
Bitcoin price shows interesting setups from multiple time frames that hint at a confluence. This convergence occurs for the short-term bullish outlook as well as the macro bearish scenario for BTC.
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May 15, 2022 at 05:30AM