Cryptocurrencies Price Prediction: Bitcoin, Polkadot and Shiba Inu – European Wrap 22 April

FXStreet Team FXStreet

Bitcoin Weekly Forecast: Early longers trapped, a move to $46,200 likely

Bitcoin price reveals an opportunity to buy as it stoops to crucial support levels. This downswing looks to be a ploy from market makers to purge the sell-side liquidity before triggering an uptrend.

Failed attempts at bull rally could crash Polkadot price to this level

Polkadot price is at a junction where a failure to breach through significant hurdles will result in a corrective phase. On the other hand, a swift recovery above these levels could set a base for impressive gains.

Why Shiba Inu price is set for a 15% value increase

Shiba Inu (SHIB) price slipped in late trading hours on Thursday after earnings shook the markets. Instead of seeing a continuation to the downside, bulls have already pared back most of the incurred losses and are back on track to test the sloping side of a wedge pattern. Add to that the fact that there is a catalyst event this weekend with the French elections, where Macron is set to win according to the polls, and price action is set to pop in favour of bulls.

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FXStreet Team

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Mixed signals leave XRP and XLM at crossroads

Ripple and Stellar are trading at critical technical levels on Thursday. XRP has stabilized above the psychological $1.00 support, while XLM is testing support at $0.173. Traders should be cautious as mixed derivatives metrics keep the outlook uncertain for both altcoins. Derivatives data shows mixed sentiment among traders. CoinGlass’ long-to-short ratio for XRP reads 1.02 on Thursday.

Robinhood revenue climbs 32% to record $1.3B in Q2, crypto earnings decline 38%

Robinhood hit record revenue for the second quarter of the year, with total net revenue rising 32% year-over-year to $1.31 billion, according to its earnings report on Wednesday. The exchange witnessed strong growth across equities, options and event contracts.

Bitcoin trails US Dollar as Fed holds rate steady

The Federal Reserve kept its benchmark interest rate unchanged at 3.50% to 3.75% at its July meeting on Wednesday, in line with market expectations. Minutes from the meeting showed that economic activity has been expanding at a solid pace despite elevated uncertainty. The central bank also noted that job gains have "kept pace with the workforce."

Ethereum: Can Fed decision unsettle the calmness in ETH?

Ethereum climbed above $1,900 on Wednesday following the Federal Open Market Committee's (FOMC) decision to leave interest rates unchanged at 3.50-3.75%. The decision follows a quiet derivatives and spot market for the top altcoin, with traders waiting for the decision before making a move, according to CryptoQuant analysts.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.