Cryptocurrencies Price Prediction: Cardano, Dogecoin & Shiba Inu — Asian Wrap 12 Oct

FXStreet Team FXStreet

Cardano must close above $2.60 before testing new all-time highs

Cardano price action suggests that some near-term selling pressure is likely to come in unless buyers step in and provide support. It is effortless to find a bias for leaning bearish as well as bullish at present. Currently, the conviction of the buyers is being tested – and they don't have much time to respond before a breakdown occurs.

Dogecoin bulls envy Shiba Inu's rally as $0.275 resistance holds strong

Dogecoin price may have triggered some fears of a resumption of some intense selling pressure after closing nearly -8% lower on Sunday. Those fears were easily justified given that the Sunday close was below the last primary support levels on the daily Ichimoku chart.

Dogecoin killer Shiba Inu breaks out, targets $0.000045

Shiba Inu price action has been a textbook model of technical analysis theory – the more extended consolidation, the more impactful any breakout. However, evidence of another leg higher exists and continues to develop. The market can remain irrational longer than you can remain solvent.

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FXStreet Team

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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