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Cryptocurrencies Price Prediction: ChainLink, Axie Infinity & Polkadot — Asian Wrap 11 Jan

Cryptocurrencies Price Prediction: ChainLink, Axie Infinity & Polkadot — Asian Wrap 11 Jan
FXStreet TeamFXStreet TeamFXStreet

Chainlink outperforms while broader markets route, LINK targets a return to $35

Chainlink price action continues to outshine all other major cryptocurrencies. With Bitcoin, Ethereum, and other major market cap cryptocurrencies suffering intraday losses over 5 to 6%, Chainlink has been the single outlier with bullish momentum.

Axie Infinity could drop a further 36% if AXS fails to hold $70

Axie Infinity price continues to drift lower as profit-taking continues within the metaverse and gaming token space. Additionally, broader cryptocurrency market fears, uncertainties, and doubts weigh in on near-term price action. Upside potential remains but is likely limited.

Polkadot Price Prediction: DOT can hit $125 if it can close above this price level

Polkadot price has been in the unfortunate position of being stuck inside the Ichimoku Cloud. The Cloud represents indecision, volatility, misery, whipsaws, and pain. It is the place where trading accounts blow up. However, a successful move out and above the Cloud would generate extremely bullish trading conditions.

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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.

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Cardano Price Forecast: Weak momentum puts ADA recovery at risk

Cardano Price Forecast: Weak momentum puts ADA recovery at risk

Cardano is trading below $0.222 on Thursday after failing to sustain gains above the 50-day Exponential Moving Average near $0.228 the previous day. Weakening derivatives metrics and fading bullish momentum continue to weigh on sentiment, while a break below the 100-day EMA could push ADA lower. Derivatives data shows a cautious outlook for Cardano.

Ripple and Stellar outlook: XRP and XLM recovery stalls below EMAs

Ripple and Stellar outlook: XRP and XLM recovery stalls below EMAs

Ripple and Stellar remain under pressure on Thursday as both struggle to sustain their recent recovery attempts. XRP trades below $1.36, while XLM slips beneath $0.183, as mixed derivatives metrics, weakening momentum indicators and heating market conditions suggest cautious market sentiment. Derivatives data shows weakening conditions for Ripple and Stellar.

Zcash Price Forecast: ZEC reclaims $1,300 as ETF inflow hits 30-day high

Zcash Price Forecast: ZEC reclaims $1,300 as ETF inflow hits 30-day high

Zcash price hovers above $1,300 on Thursday, sustaining its 15% gains so far this week with three straight days of recovery. Institutional and retail appeal is returning, with over $15 million in inflows recorded on Wednesday and ZEC futures Open Interest rising to a 30-day high of $2.89 billion. The technical outlook for ZEC indicates an upside bias as recovery gains traction.

Bitcoin derivatives improve, but $87,000 sell wall looms

Bitcoin derivatives improve, but $87,000 sell wall looms

Bitcoin (BTC) showed signs of recovery on Wednesday as derivatives positioning improved, but sell risk grew between $86,500 and $87,500, where sell orders and leveraged liquidation clusters could limit further gains.
Bitcoin: Macroeconomic headwinds, cooling demand cap BTC gains

Bitcoin: Macroeconomic headwinds, cooling demand cap BTC gains

Bitcoin (BTC) extends losses this week, trading below $82,500 as of Friday as selling pressure continues. Weakening institutional demand supports this pullback as BTC spot Exchange-Traded Funds (ETFs) are on track to record a two-week withdrawal streak, reaching $146.19 million in net outflows through Thursday.