|

Cryptocurrencies Price Prediction: Bitcoin, Lido DAO & Cronos – American Wrap 10 March

Lido DAO Price Forecast: Can LDO bulls sidestep a 25% crash?

Lido Dado (LDO) price action is pushing higher after losing ground during Friday's ASIA-PAC and European trading sessions. Bulls could maintain support at the monthly S1 support level after the sharp decline in the past ten days. With the Relative Strength Index (RSI) now rebounding out of the oversold area, a profitable close could be in the making for this Friday while dark clouds are still present that could bring about a 25% rampaging decline next week.
LDO/USD  4H-chart    
The United States Nonfarm Payrolls (NFP) data showed the US economy added 311,000 jobs in February, surpassing forecasts of a 205,000 gain. The month of February was expected to note a relatively lesser increase in the jobs report as compared to January. The enormous increase of 504,000 (revised from 517,000) in January was beyond expectations, but it also noted that the economy was in good shape. 
BTC/USD 1-day chart
Cronos (CRO) sees traders becoming a nervous wreck this week as  the pace at which negative news is hitting crypto traders is almost incomprehensible. As if the Silvergate Capital collapse was not enough, another commercial bank in the US is on the brink of default as markets are going into risk-off mode with the US equities again firmly in the red these past few days. The number of dark clouds and tail risks at hand is unbearable for bulls to stay in their long positions, which means that CRO will tank at least another 13% toward $0.0550.
CRO/USD  4H-chart    

Author

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.

More from FXStreet Team
Share:

Editor's Picks

XRP holds bearish bias despite spot ETF inflows
Ripple (XRP) retains a bearish near-term tone on Friday, falling toward the psychological support at $1.00. This follows renewed inflation concerns in the United States (US) after the Federal Reserve (Fed) left interest rates unchanged, as two members of the committee dissented in favor of a 25 basis point hike.
Crypto Today: Bitcoin, Ethereum, XRP edge lower despite renewed ETF inflows
The cryptocurrency market broadly corrects on Friday, as investors assess macro uncertainty and geopolitical tensions, which continue to escalate in the Middle East. Bitcoin (BTC) is trading below $64,000, down from the weekly high of $65,745. Altcoins such as Ethereum (ETH) and Ripple (XRP) are trading under increasing selling pressure below $1,900 and $1.10, respectively.
US sanctions Iran-linked Bitcoin insurance scheme for Strait of Hormuz ships
The U.S. Treasury has sanctioned two Iranian firms behind a maritime insurance operation that accepted Bitcoin, saying the scheme forced commercial vessels to buy coverage to pass through the Strait of Hormuz and funnelled the proceeds to the Islamic Revolutionary Guard Corps.
Bitcoin Weekly Forecast: Bulls hold the line
Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.
Bitcoin: Bulls hold the line
Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.