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Cryptocurrencies Price Prediction: Bitcoin, Cardano & Ethereum – Asian Wrap 27 Jan

Cryptocurrencies Price Prediction: Bitcoin, Cardano & Ethereum – Asian Wrap 27 Jan
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Price Analysis: BTC bulls to have a bumpy road below $36,450

BTC/USD drops to $32,250, down 1.0% intraday, amid the initial trading on Wednesday. In doing so, the crypto major respects Tuesday’s U-turn from 200-bar SMA amid struggling MACD signals and normal RSI conditions. As a result, the quote’s further weakness can’t be ruled out.

Cardano prepares to launch new stablecoin while ADA price is on the brink of a 30% move

IOHK or Input Output Hong Kong, the company behind the development of Cardano (ADA), is collaborating with the Ergo Foundation and  EMURGO to launch the first-ever stablecoin asset on the Ergo blockchain. The new cryptoasset will, in the beginning, only execute on the Ergo blockchain. 

Ethereum Price Analysis: ETH bulls are gearing up for fresh record to above $1,477

ETH/USD buyers battle the weekly resistance line, currently around $1,357, amid the initial trading on Wednesday. Even so, a two-week-old rising channel and strong RSI, not to forget the receding strength of the bearish MACD, suggest further upside of the quote.

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Ripple ticks higher as selling pressure eases amid whale net outflows

Ripple ticks higher as selling pressure eases amid whale net outflows

Ripple edges higher near $1.30 on Wednesday, building on a broader crypto market recovery wave. The uptick comes amid the US midterm elections, in which the Democratic Party has clinched victory in the Senate and is on track to gain control of Congress.

Crypto Today: Bitcoin, Ethereum, XRP extend advance as US Dollar slides on Democrats' US midterm victory

Crypto Today: Bitcoin, Ethereum, XRP extend advance as US Dollar slides on Democrats' US midterm victory

Bitcoin trades above $78,000 on Wednesday as risk-on sentiment improves in the broader cryptocurrency market. Ethereum mirrors BTC’s recovery outlook, hovering above $2,300. Ripple similarly exchanges hands above $1.28, marking two consecutive days of gains.

Pi Network Price Forecast: Bullish breakout hopes fade as PI approaches record lows

Pi Network Price Forecast: Bullish breakout hopes fade as PI approaches record lows

Pi Network (PI) is trading in the red on Wednesday, hovering around $0.0755, with a downside risk toward the $0.0704 record low. The retail activity in the derivatives market declines as PI futures Open Interest plunges to nearly $7.50 million.

US midterm elections set up a potential volatility shock for BTC

US midterm elections set up a potential volatility shock for BTC

Bitcoin holds above the key 200-day EMA but remains capped by the 100-day EMA, with a breakout in either direction likely to determine its next directional bias. Analysts remain bullish on BTC but expect a significant price swing in either direction, favoring volatility-based strategies over directional bets.

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.