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Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Shiba Inu – European Wrap 6 January

Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Shiba Inu – European Wrap 6 January
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Weekly Forecast: A crypto beginner’s guide to Nonfarm Payrolls and its effects on BTC

Bitcoin (BTC) price and the general crypto markets have been highly correlated with the stock markets since the COVID-19 crash in March 2020. Since then, macroeconomic news have been affecting Bitcoin, Ethereum and other altcoins, and the Nonfarm Payrolls (NFP) monthly release is one such significant event, with the December version to be published on January 6 at 13:30 GMT. 

Ethereum Price Prediction: Trading Nonfarm Payrolls, will ETH bulls triumph?

Ethereum (ETH) price is traversing a bearish pattern and is close to invalidating it. However, due to the current market conditions combined with the release of Nonfarm Payrolls (NFP) on Friday at 13.30 GMT, there is a possibility that ETH could correct and retest a stable support level before establishing its direction. 

ETH/USDT 1-day chart

Shiba Inu developers share Shibarium update, the layer-2 solution will scale a $4.9 billion market

Shiba Inu ecosystem’s developers have warned the community against other projects that lay claim to the layer-2 scaling solution Shibarium. Developers assured the SHIB army that the scaling protocol will use Bone (BONE) from the Shiba Inu ecosystem and will scale the dog-themed cryptocurrency, no other projects included. 

Shiba Inc whale transaction count

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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BNB Price Forecast: Derivatives back bullish upside continuation

BNB Price Forecast: Derivatives back bullish upside continuation

BNB, formerly known as Binance Coin, edges lower, trading around $790 on Monday after posting three consecutive weekly gains. Rising Open Interest and positive funding rates suggest that bullish positioning is strengthening in the derivatives market.

Solana Price Forecast: SOL rally remains capped as ETF inflows ease

Solana Price Forecast: SOL rally remains capped as ETF inflows ease

Solana price edges lower on Monday, hovering around $120 after four consecutive days of trading in the green. The institutional support for SOL eased last week, with total inflows of less than $2.50 million, from over $188 million in the previous week. The technical outlook for SOL remains mildly bullish, forming a triangle pattern on the four-hour chart.

Dogecoin Price Forecast: ETF inflows and technicals fuel recovery

Dogecoin Price Forecast: ETF inflows and technicals fuel recovery

Dogecoin extends its gains, trading above $0.096 after finding support around the key support zone last week. Continued inflows into spot DOGE ETFs, alongside strengthening derivatives metrics, indicate improving market sentiment. Meanwhile, the constructive technical outlook suggests the meme coin could extend its gains if the key level holds.

Cardano Price Forecast: ADA rally strengthens bullish breakout setup

Cardano Price Forecast: ADA rally strengthens bullish breakout setup

Cardano (ADA) price extends a steady recovery on Monday, trading above $0.2600 after a 6% rise the previous day. The altcoin sees strong retail demand, with ADA futures Open Interest up 15% in 24 hours and the funding rate remaining positive. Cardano must confirm the breakout of a key resistance level near $0.2632, which could further extend the rally toward $0.3000.
Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin (BTC) extends its gains, trading near $86,000 at the time of writing on Friday after closing September 6.33% up, reversing its seasonal weakness. Historical data suggest October could be a strong month for BTC, especially after a positive September.