Cryptocurrencies Price Prediction: Algorand, Loopring & Polkadot — Asian Wrap 07 Apr

FXStreet Team FXStreet

Algorand price could run up 17% with this trade setup

Algorand price could surprise the bears aiming for the March lows. Traders should keep their eyes on Algorand for a potential continuation of the uptrend. Algorand price is currently trading at $0.79. Last week's bullish thesis gave a $1.06 target for the ALGO price with an invalidation at $0.7610.

Loopring price could bounce and rally to $1.20

Loopring price could have a countertrend rally of up to 30%. The LRC price action at these levels could provide significant buy signals. Loopring price has fallen more than 20% since last week's thesis. Analysts at FXStreet gave a clear warning not to participate in any bullish trades unless $1.27 was breached.

Institutional demand for DOT, AVAX and ATOM is on the rise, painting a bullish outlook

Grayscale Investments has rebalanced its portfolio to include Polkadot, Avalanche and Atom, among other digital assets in its $480 million Digital Large Cap Fund. Proponents believe the asset manager's move indicates rising institutional demand for DOT, AVAX and ATOM.

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FXStreet Team

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