Cryptocurrencies Price Prediction: Bitcoin, DYDX & Algorand – European Wrap 18 January

FXStreet Team FXStreet

Bitcoin halving event draws close, BTC trades below $43,000 amidst altcoin season

Bitcoin (BTC) market participants look indecisive as BTC trades sideways below $43,000 on Thursday. Bitcoin price has declined nearly 8% in the past week after the sport Exchange Traded Fund failed to support prices, giving way to a so-called "altcoin season." The BTC halving event, which is considered a catalyst for Bitcoin price, is 110 days away.

DYDX Price Forecast: dYdX holders likely to witness 20% gains

DYDX price shows signs of rallying higher after the recent move that flipped a key hurdle into a support floor. This uptick in buying pressure is likely to attract more sidelined buyers, propelling DYDX higher.

DYDX price crashed 35% between November 15 and 21, 2023, and created a range extending from $4.37 to $2.84. Lack of momentum, however, led to a breakout below the range low. The recent uptick in buying pressure has pushed it back above the $2.84 floor back into the range.

Algorand releases technical roadmap for 2024 but fails to catalyze recovery for Algorand price

This year is expected to be huge for the crypto market, considering the spot Bitcoin ETF approval, potential spot Ethereum ETFs, and the Bitcoin halving. But beyond the major tokens, other L1s, such as Algorand, are also set to witness crucial upgrades coming their way.

Algorand Foundation took to X, formerly Twitter, to announce the technical roadmap for 2024, which is comprised of five major upgrades. These upgrades will be deployed throughout the year, with the first two set to go live before Q2 and the other three between Q2 and Q4.

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XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.

Cardano struggles to extend gains as retail interest wanes despite Midnight's NIGHT token launch

Cardano ticks higher after a bearish weekend, struggling to extend an upcycle within a descending wedge pattern. On-chain data shows an increase in trading volume and user activity after the Midnight side chain token launch.

Crypto Today: Bitcoin, Ethereum recover as XRP remains supported by ETF inflows

Bitcoin is trending up toward the pivotal $90,000 level at the time of writing on Monday, which marks four consecutive days of gains. Altcoins, including Ethereum and Ripple, are also rebounding above key short-term support levels.

Bitcoin nears $90,000 as recovery hopes clash with institutional outflows

Bitcoin is approaching the $90,000 resistance level at the time of writing on Monday, raising hopes of a short-term recovery. However, the bullish recovery is being challenged by weakening institutional demand, as evidenced by outflows from Spot ETFs.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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