Cryptocurrencies Price Prediction: Chainlink, Bitcoin & Solana — Asian Wrap 24 October

FXStreet Team FXStreet

Chainlink Price Forecast: Chainlink reserve expansion counters retail selling

Chainlink (LINK) stalls above $17 at press time on Friday after a 2% recovery on Thursday, driven by the buyback of 63,481 LINK tokens. Technically, Chainlink stands at a crossroads, while muted retail interest tilts it bearish.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP recover as bearish momentum fades

Bitcoin price faced rejection from the 50-day Exponential Moving Average (EMA) at $113,329 on Tuesday and declined by 2.81% the next day. However, BTC price retested the 61.8% Fibonacci retracement level (drawn from the April low of $74,508 to the record high of $126,199) at $106,453 and recovered 2.33% on Thursday. At the time of writing on Friday, BTC is trading above $110,400, nearing the previously broken ascending trendline. If BTC breaks and closes above the trendline, it could extend the rally toward the 50-day EMA at $113,329. A successful move above this level could extend the gains toward the 78.6% Fibonacci retracement level at $115,137.

Solana Price Forecast: SOL gains 6% as Solmate outlines plans for its treasury

Solana (SOL) is up 6% on Thursday following a similar spark in the stock of treasury company Solmate after it outlined plans to streamline its company operations.

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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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