Cryptocurrencies Price Prediction: Avax, Tezos & Axie Infinity — Asian Wrap 28 Oct

FXStreet Team FXStreet

AVAX dips below primary support, buyers worried as Avalanche could melt down to $48

AVAX price dropped as much as 17% during the Wednesday trade session. Extreme selling pressure early in the US AM trading session pushed many cryptocurrencies into massive double-digit percentage losses. However, AVAX has recovered over half of that loss but remains below a collection of essential support zones.

Tezos must hold its final support level at $5.50 or XTZ faces a capitulation move lower

Tezos price is currently trading more the 34% below the new all-time high it set on October 4th. However, despite the significant percentage drop, Tezos remains up over 200% for 2021. Therefore, support must hold if Tezos bulls want to make new all-time highs.

Axie Infinity faces free fall from sellers, AXS positioned for a deeper crash to $100

Axie Infinity price experienced a sharp drop in line with the rest of the cryptocurrency market. Buyers have stepped in to support Axie Infinity near the bottom of a high volume node, but a daily close below the Tenkan-Sen and Kijun-Sen could trigger some significant selling.

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XRP extends recovery as on-chain activity grows

Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).

Ethereum Price Forecast: ETH continues July uptrend with 20% rise after triggering buy signal

Ethereum (ETH) has gained 3% on Tuesday, extending its July gains above 20% after key on-chain indicators highlighted a resumption of buying activity. The strong performance so far in July comes a few days after ETH triggered the Market Value to Realized Value (MVRV) Buy signal. ETH has been up by roughly 22% since the signal.

Chainlink becomes top 20 best performer, 3 reasons behind the move

Chainlink (LINK) has become the best-performing asset in the top 20 this week, leading every other major cryptocurrency. The cryptocurrency jumped 10.18% to $8.71, its highest level since early June. Three major factors explain the double-digit rise over the past week.

Crypto Today: Bitcoin, Ethereum, XRP extend rebound amid returning institutional capital inflows

Cryptocurrency prices extend a broad recovery, led by Bitcoin (BTC), trading above $66,000 at the time of writing on Tuesday. Ethereum (ETH) remains bullish above $1,940, after logging four straight days of gains. Meanwhile, Ripple (XRP) hovers around $1.13, building on the reclaimed $1.10 critical level.

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.