Cryptocurrencies Price Prediction: Algorand, Ethereum & Decentraland — Asian Wrap 13 Dec

FXStreet Team FXStreet

Algorand price in tug of war as indecision mounts, but 35% move imminent

Algorand price is locked within a consolidation pattern as ALGO fails to show signs of directional intentions. The altcoin confuses forecasts as the token registers lower highs and higher lows. A decisive break above or below the prevailing chart pattern could signal a 35% move.

Ethereum price looks to retest sub-$3900 after Saturday’s dead cat bounce

Ethereum, the no.2 most dominant cryptocurrency, is trading on a slippery slope this Sunday, reversing a part of Saturday’s impressive rebound from one-week lows of $3835. In doing so, ETH price is shedding about 1% on the day, trading around mid-$4000.

Decentraland Price Prediction: MANA ready to rally toward the round level of $5

Decentraland price has been consolidating after its massive run toward its all-time high at $5.89 on November 25. MANA appears to be ready to escape its recent downtrend as it nears a critical hurdle. Slicing above the crucial line of resistance could unleash 36% gains for the token.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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