Cryptocurrencies Price Prediction: Monero, Bitcoin & Dash — Asian Wrap 14 January
|Privacy tokens Monero and Dash surge as XMR hits all-time high
Monero (XMR) continued its bullish run on Tuesday as it surged to a new all-time high of $692. The token is up nearly 10% over the past 24 hours, stretching its weekly gains above 50%. Monero has now climbed into the top 20 cryptocurrencies category, ranking at #15, with a market capitalization of $12.2 billion at publication time. Following the privacy token's surge over the past week, crypto analytics platform Santiment warned that the rising FOMO surrounding Monero could be risky. The platform noted that XMR's social dominance peaked on Sunday, while development activity has declined.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – Bulls take charge, eye $100K BTC, $3,500 ETH and $2.35 XRP
Bitcoin price found support around a previously broken upper consolidation zone at $90,000 on January 8 and recovered slightly through Monday. On Tuesday, BTC rose more than 4% and closed above the 61.8% Fibonacci retracement level (from the April low of $74,508 to October's all-time high of $126,199) at $94,253. As of Wednesday, BTC is trading around $95,300. If BTC continues its rally, it could extend the surge toward the key psychological $100,000 level.
Top Crypto Gainers: Dash, Story, Optimism – Altcoins rally as Bitcoin clears $95,000
Dash trades above $50 at press time on Wednesday, holding Tuesday’s nearly 50% gains. The privacy coin struggles to surpass $60, facing opposition from the R2 Pivot Point at $61. If DASH clears this level, it could aim for the R3 Pivot Point at $70. The technical indicators on the daily chart suggest heightened buying pressure, as the Relative Strength Index (RSI) is at 67, hovering near the overbought boundary, and the Moving Average Convergence Divergence (MACD) is surging, with steadily rising histogram bars.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.