Cryptocurrencies Price Prediction: Bitcoin, Shiba Inu and Algorand – European Wrap 4 May

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Official start to recovery rally

Bitcoin price has kick-started its attempt to move higher, picking up Ethereum and Ripple along with it. Investors can expect BTC to revisit Monday’s high and reevaluate directional bias from there.

Bitcoin price begins its journey higher. Bitcoin price bounces off the lower trend line of the ascending parallel channel, which is formed after drawing trendlines above and below three sets of higher highs and higher lows. Investors can expect BTC to slice through the 100-day Simple Moving Average (SMA) at $41,009, which is the first major hurdle.

RYOSHI rewards to launch in mid-May after 23.9 billion Shiba Inu burned

Shiba Inu developers have announced the reward schedule for the meme coin. The first round of rewards will be distributed on May 17, 2022. 

Shiba Inu’s burn portal was launched recently to promote the reduction in the token’s circulating supply. 

BurntSHIB can be exchanged for RYOSHI, the native token of Ryoshi’s Vision. RYOSHI is an ERC20 token on the Ethereum blockchain; holders of burntSHIB are entitled to 0.49% of all transactions that involve RYOSHI tokens.  

Can Algorand price bounce, triggering a 25% rally

Algorand price is at a significant point in its recovery after the recent downswing, and it could be preparing for a new leg-up. A bounce off the midpoint of the decline will be key and decide the directional bias for ALGO.

Algorand price crashed 25% between April 28 and April 30 and set a range low at $0.537. This move was followed by a 38% ascent that set the range high at $0.742. As ALGO kick-starts its pullback, there is a good chance for ALGO to retest the 50% retracement level at $0.639.