Cryptocurrencies Price Prediction: Cosmos, Lido & Bitcoin– American Wrap 3 February
Cosmos Price Prediction: ATOM Rallies 10% this week and shows plans for more
Cosmos price (ATOM) is witnessing a bullish surge this week, breaking out of its recent consolidation and moving upwards by 10%. Technical indicators accompanying the rally show bulls are confidently poised. If market conditions persist, the Cosmos token could rally an additional 10% in the coming days.
Lido Dao (LDO) traders received a very cold shower after the US jobs report on Friday. Although already on Thursday, LDO received a firm rejection after spiking higher, bears seem to be taking over the steering wheel as the Relative Strength Index points to more downside. The risk is that a Federal Reserve (Fed) rate cut for later this year gets priced out, which would mean bad news for risk assets like cryptocurrencies, with a drop towards $1.7 in the projections for LDO.
Assessing the possibility of Bitcoin price crash to $20,000 after US NFP rises to 517,000
The United States unemployment rate for January came in at 3.4% which is lower than forecast of 3.6%. The Nonfarm Payrolls (NFP) data shows that 517,000 jobs were added in January, which is much higher than the expected 185,000. The last important component in the jobs sector is the average hourly earnings year-over-year which landed at 4.4% as opposed to the expected 4.9%.
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FXStreet Team
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