Cryptocurrencies Price Prediction: Axie Infinity, Decentraland & Binance Coin — Asian Wrap 11 Feb

FXStreet Team FXStreet

Axie Infinity price consolidates ahead of breakout to $80

Axie Infinity price faced intense selling pressure during the release of U.S. CPI data. The data was higher than expected, and fears of the Fed introducing higher rates returned, but those concerns were already known. As a result, the initial selling pressure across all risk-on markets resulted in a massive ‘buy-the-dip’ opportunity for AXS longs.

Decentraland price must hold key support to avoid correction to $2.70

Decnetraland price action has tested the bottom of the Ichimoku Cloud (Senkou Span A) at $3.15 for the past five trading days as support. $3.15 has thus far held, but the frequency of the tests has caused some concerns for bulls. Substantial downside risks if bulls cannot keep MANA above crucial support zones.

BNB price stumbles after Binance invests $200 million in Forbes

The world’s largest exchange’s latest investment in media and publishing giant Forbes had a negative impact on Binance Coin price. Forbes would use the $200 million investment to merge with a SPAC. Binance announced its $200 million strategic investment in Forbes.

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FXStreet Team

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XRP, ADA, and SOL are vulnerable to deeper losses

The top altcoins, including Ripple, Cardano and Solana, are trading in the red as the broader cryptocurrency market faces downside pressure. The bearish pressure aligns with Citadel Securities' anticipation of a surprise Fed rate hike, which could reduce liquidity in high-risk assets, including crypto assets.

XRP and XLM extend correction as bearish pressure builds

Ripple and Stellar remain under pressure on Tuesday after losing over 4% and over 5%, respectively, the previous day. In addition, weakening momentum indicators and deteriorating derivatives metrics suggest sellers remain in control, raising the risk of further downside for both altcoins. Derivatives data shows a slight bearish tilt.

Bitcoin risks losing $63,000 – FET, SHIB lead losses

Bitcoin edges lower on Tuesday, extending its losses of over 2% from the previous day. The broader crypto market suffered nearly $600 million in liquidations over the last 24 hours amid renewed sell-off pressure. Artificial Superintelligence Alliance and Shiba Inu have emerged as the worst-performing crypto assets in the same time period.

Pump.fun surges following rising revenue and social push

PUMP, the native crypto of token launchpad Pump.fun, saw double-digit gains on Monday, rising to nearly $0.00220, its highest level in about 11 weeks, before easing. The recent gains have stretched its 14- and 30-day performance above 38% and 50%, respectively.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.