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Cryptocurrencies Price Prediction: Bitcoin, VeChain and Polkadot – European Wrap 7 May

Cryptocurrencies Price Prediction: Bitcoin, VeChain and Polkadot – European Wrap 7 May
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Weekly Forecast: BTC adoption accelerates as coiling prices hint at explosive rally

Bitcoin price faces a stiff resistance wall that has prevented weak bullish momentum from passing through. As a result, a short-lived retracement has caused a majority of the market to follow suit despite BTC’s raging adoption and interest from institutions over the past week.

BTC/USD 1-day chart

VeChain Price Prediction: VET upswing thwarted again as sell signals multiply

VeChain price shows an ambiguous outlook as it has set up a textbook uptrend with a series of higher highs and higher lows, but technical indicators hint at a downtrend.

VET/USDT 6-hour chart

Polkadot Price Prediction: DOT hints at minor retracement before resuming its rally

Polkadot price shows a slowdown in its bullish momentum that has resulted in sellers taking over. Now, a minor retracement could push DOT into a significant support barrier.

DOT/USDT 6-hour chart

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Crypto Today: Bitcoin, Ethereum, XRP trade under pressure amid mixed technical signals 

Crypto Today: Bitcoin, Ethereum, XRP trade under pressure amid mixed technical signals 

Bitcoin is trading above $90,000 at the time of writing on Tuesday amid sticky risk-off sentiment in the broader crypto market. Altcoins, including Ethereum and Ripple, are paring losses, holding above key support levels.

Bitcoin steadies above $90,000 as Fed rate-cut optimism lifts market sentiment

Bitcoin steadies above $90,000 as Fed rate-cut optimism lifts market sentiment

Bitcoin price holds above $90,000 on Tuesday after finding support around this key level. Firm expectations that the Fed will cut interest rates on Wednesday boosts investors' appetite for riskier assets such as BTC.

Pepe stalls as on-chain, derivatives data flash bullish signals

Pepe stalls as on-chain, derivatives data flash bullish signals

Pepe (PEPE) trades in the red on Tuesday after failing to secure a daily close above the $0.00000500 psychological level on Monday. The technical outlook remains mixed as the meme coin consolidates. 

Chainlink Price Forecast: LINK holds firm as reserves hit 16-month low

Chainlink Price Forecast: LINK holds firm as reserves hit 16-month low

Chainlink price steadies near $13.70 on Tuesday, finding support around the key level. On-chain data signals bullish sentiment, as LINK exchange reserves fall to their lowest level since August 2024.

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Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.