Cryptocurrencies Price Prediction: Polkadot, SafeMoon & Algorand — Asian Wrap 25 Feb
|Polkadot price structure unchanged as DOT awaits breakout to $40
Polkadot price action is mostly unchanged; the same reversal column still exists from November 3, 2021. Bulls have been awaiting an entry for months, but the wait continues. Point and Figure charting filters out the noise and prevents a lot of the anxiety associated with Japanese candlestick charts.
SafeMoon continues to slide south, recovery dependent on Bitcoin’s performance
SafeMoon price has made new 2022 lows and pushed below the critical $0.0010 value area into $0.0009. In addition, it continues to trade below all primary Ichimoku levels, indicating further selling pressure ahead. SafeMoon’s performance is tied to Bitcoin’s performance.
Algorand collapses with the broader crypto market, ALGO hits new one-year lows
Algorand price action is facing the same pressure dominating the entire cryptocurrency market. The results of Russia’s invasion into Ukraine have confirmed what most analysts and pundits expected, but risk-on markets globally continue to feel the pinch – and ALGO is no exception.
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