Cryptocurrencies Price Prediction: Tezos, Ripple and Dogecoin – European Wrap 9 August – FXStreet

Cryptocurrencies Price Prediction: Tezos, Ripple and Dogecoin – European Wrap 9 August – FXStreet


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Tezos (XTZ) price action is printing a staggering performance in just a slim two months with 62% gains after bouncing off $1.19 and nearing $2. Momentum and the daily price chart still point to more upside potential, but traders must bear in mind that the window of opportunity is starting to close as seasonality is set to kick in, with September known as the worst performing month for cryptocurrencies over a five-year track record. Additionally, several Fed members have come out these past few days and over the weekend and said that investors should not focus on early rate cuts at the beginning of 2023, as the Fed will keep hiking until inflation is near 2%, with no forward guidance and rate hikes projections heavily dependent on economic data.
 
XTZ/USD Daily chart
XRP price is grappling with a significant resistance barrier after months of trying to flip it. The most recent failure could result in a steep correction, especially if Bitcoin price crashes. While the structure for cryptocurrencies remains indecisive, Congressman Brad Sherman said in a recent interview that the US Securities and Exchange Commission (SEC) will prevail in its investigation into Ripple.
Dogecoin price shows that the bulls are back in town and have already triggered a journey to the upside. While this outlook was expected in our previous publications, this article will also take a look into the macro outlook for DOGE.
DOGE/USDT 1-day chart
 
 
 
 

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Ethereum price has formed three bullish daily candles, affirming its micro position before the Merge occurs. The second-largest cryptocurrency toppled from highs marginally above $2,000 around mid-August. Declines were unstoppable until Ether price slowed at $1,427. Although a full recovery remained elusive, ETH is now almost brushing shoulders with $1,700 while bulls push for gains beyond $2,000.
Bitcoin price has been in a consolidation range for the last nine days and shows no signs of breaking lower or higher. However, the general outlook for BTC is that it needs to collect liquidity before attempting a recovery rally. 
Vitalik Buterin created several Twitter polls to discover different public opinions on his character. Buterin inquired, “which non-Ethereum cryptocurrency do I respect the most?” Intriguingly, the list contained Bitcoin, Binance Coin and Solana but excluded Cardano.
DOT popped higher after bulls limited losses to near zero on Monday. Polkadot enjoys some tailwinds from markets applauding support packages in Europe. Expect to see another little pop higher, but a double cap is nearby and will probably trigger an early fade.
Bitcoin price shows an ongoing consolidation as it hovers at the same level for the past six days with no signs of directional bias. A breakout from this tightening range could result in a bearish move that eyes a sweep of the sell-stop liquidity below recent lows.
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September 6, 2022 at 04:01PM

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