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Cryptocurrencies Price Prediction: Bitcoin Cash, Ripple & Cosmos – Asian Wrap 12 Oct

Cryptocurrencies Price Prediction: Bitcoin Cash, Ripple & Cosmos – Asian Wrap 12 Oct
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Cash Price Forecast: BCH breakout hits pause, bulls aim for $260

The cryptocurrency market squeeze finally reached its elastic limit over the weekend. Trading yielded for most of the digital assets led by the flagship cryptocurrency, Bitcoin. Bitcoin Cash (BCH) built an uptrend on the support established at $220. The price action extended marginally above $240 before the breakout stalled. BCH/USD is trading at $239 at the time of writing, following a minor retreat.

BCH/USD price chart

Ripple Technical Analysis: XRP bears rear ugly heads, upside bias losing momentum?

A rising wedge breakdown confirmed on the hourly chart early Sunday, suggests more room to the downside. The price has managed to hold onto the 50-hourly moving average (HMA) at 0.2544 following a breach of the 0.2564 pattern support. The next support line awaits at the 100-HMA at 0.2512.

Cosmos Technical Analysis: ATOM/USD’s daily chart looks constructive, $8 back in sight

Cosmos (ATOM/USD) hovers near six-week highs of $5.86, consolidating the five-day winning streak on Sunday.

Despite a pause in the rally over the last hour, the bullish momentum remains intact amid a symmetrical triangle pattern confirmed on the daily chart on Saturday.

A decisive break above the horizontal 50-daily moving average (DMA) seen earlier on the day, bolstered the bullish sentiment around Cosmos.

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Ripple is trading under pressure at the time of writing on Thursday, after bulls failed to break the short-term resistance at $2.22. The reversal may extend toward Monday’s low of $1.98, especially if risk-off sentiment persists in the broader cryptocurrency market.

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Bitcoin: BTC steadies as data suggests local bottom

Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.