Cryptocurrencies Price Prediction: Chainlink, Axie Infinity & Cardano — Asian Wrap 14 Jan

FXStreet Team FXStreet

Chainlink must return above this price level or LINK will fall back to $20

Chainlink price is facing difficulties moving above a significant resistance zone on the weekly chart. Failure to close above this resistance on the weekly chart could trigger a strong resumption of falling prices. Chainlink price behavior and the overall trend for the remainder of January will likely be decided this Friday.

Axie Infinity struggles to maintain bullish momentum, AXS may return to $65

Axie Infinity price stalls against the daily Tenkan-Sen, generating a new lower swing high and setting up AXS for another push south. Axie Infinity price had a nice 22% bounce from the Monday lows, but sellers came in at the Tenkan-Sen and thus prevented AXS from moving above the Tenkan-Sen.

Charles Hoskinson comments on Cardano progress, says ADA set standard for Proof-of-stake

Charles Hoskinson believes that Cardano has made progress despite challenges associated with proof-of-stake blockchains. The altcoin’s progress has increased its relevance and demand across the crypto ecosystem. Cardano is now traded on over 100 exchanges.

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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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