|

Cryptocurrencies Price Prediction: Cardano, Axie Infinity & Cronos — European Wrap 17 March

Will Cardano network activity by ADA whales fuel a price rally in the Ethereum-killer?

Cardano hit an important milestone in its developmental journey going full peer-to-peer with node 1.35.6. Developers called all Staking Pool Operators (SPOs) to get on the testnet and test the speed and efficiency of the Ethereum-killer blockchain network. 

Chart

Here is why AXS price is looking at a 15% climb to $9.40

Axie Infinity price (AXS) is trading with a bullish bias on the lower timeframe, moving upwards along a bullish trendline. The gaming token followed the precedent set by the broader market, with Bitcoin (BTC) and Ethereum (ETH) taking the lead. It posted a red bar on the chart on March 15 as extreme volatility in the crypto sector spread amid the ongoing financial crisis in the United States. AXS also reacted to Tuesday’s Consumer Price Index (CPI) release. Currently, the altcoin is on course to record further gains for investors as anxiety about these recent events continues to ease.

Chart

Cronos price is the altcoin to watch this week for a breakout trade that could bear a 90% gain by summer

Cronos (CRO) price is holding all the cards here this Friday as it goes against several of its brothers and sisters in the altcoin space. Price action is up over 6% for the week, and with the rally in Bitcoin price this Friday, another tailwind moves in favor of CRO. Should CRO be able to break the 55-day Simple Moving Average (SMA) to the upside, just one more element stands in between bulls and a 90% gain by the summer of this year.

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

Ripple and Stellar outlook: Rebound from key technical supports as derivatives turn mildly bullish

Ripple and Stellar rebound slightly on Tuesday, trading above $1.359 and $0.191, respectively, following a correction the previous day. Both XRP and XLM now test key support levels, with improving derivatives metrics supporting their recovery. Derivatives data shows improving conditions for Ripple and Stellar.

Dogecoin Price Forecast: DOGE tests $0.0800 support level amid ETF outflows

Dogecoin price ticks higher at press time, showing signs of a rebound from the $0.0800 low earlier in the day and the previous day’s 5% decline. DOGE-focused Exchange Traded Funds are facing selling pressure, with nearly $400,000 in outflows on Monday, weighing on the meme coin. Dogecoin risks a decline of over 15% to the $0.0683 support level if prices break below $0.0800.

Ripple-backed Evernorth goes live on Nasdaq with 473 million XRP treasury
Ripple-backed digital asset treasury firm Evernorth began trading on the Nasdaq on Monday under the ticker XRPN, giving traditional stock market investors exposure to XRP. The listing follows the completion of Evernorth’s business combination with Armada Acquisition Corp. II on Friday.
Bitcoin shows bottoming signs despite recent macro pressures
Bitcoin (BTC) remained range-bound above $82,000 on Monday as upcoming US economic data and onchain indicators weigh on market sentiment. Crypto trading firm QCP Group stated in its Monday report that Bitcoin has maintained a firmer footing a year after the market’s largest single-day liquidation event.
Bitcoin: Uptober or Rektober?
Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.