Cryptocurrencies Price Prediction: Stellar, Polygon & Doge Coin — Asian Wrap 23 June
|XLM Price Forecast: Stellar nightmare may not be over
XLM price declined over 20% yesterday, providing a wicked reminder of the risks inherent in cryptocurrency investing, notably when towering support is quickly eliminated like the May 23 low. However, Stellar bulls have stepped into the market today, lifting the cryptocurrency off the early lows and potentially forming a doji candlestick pattern on the daily chart. It may be a bullish development, but XLM price still has a lot to prove before the nightmare is officially over.
MATIC Price Prediction: Polygon risk is still heavily tilted to the downside
MATIC price breakout from a symmetrical triangle on June 15 suggested a continuation of the relative strength versus the cryptocurrency market. However, the bullish price action quickly faded, rewarding Polygon investors with a 43% decline over the last seven trading days.
Dogecoin price humbled by 50% nose-dive, but DOGE may set a bear trap
Dogecoin price finally broke free of a complex, rounding consolidation on June 18, providing the catalyst for DOGE to fall 50% over five days at today’s low. The ongoing, successful rebound from the 200-day SMA is a constructive development, but it struggles to reclaim the May 19 low of $0.195 on an intra-day basis. Unless the meme token can close above the May low, investors should remain on the sidelines.
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