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Cryptocurrencies Price Prediction: Decentraland, Cardano & Solana — Asian Wrap 27 Jan

Cryptocurrencies Price Prediction: Decentraland, Cardano & Solana — Asian Wrap 27 Jan
FXStreet TeamFXStreet TeamFXStreet

Decentraland price targets $2.50 to terminate downtrend

Decentraland price at an inflection point. MANA completed a 50% logarithmic retracement, fulfilling conditions for a new floor to target new highs. $2.50 is the critical resistance zone to break above to initiate a new bull run. Decentraland bulls have been thirsty to repeat the rally it experienced in October 2021.

Cardano bulls maintain support, ADA readies for return to $1.25

Cardano price is struggling performance-wise when compared to its peers. As a result, Bitcoin, Ethereum, and a good chunk of the altcoin market have moved into positions that precede a bullish reversal. Cardano, however, has yet to display that kind of price action – but it may very soon.

Solana price heads to $110 after being extremely oversold

Solana price, like the majority of the cryptocurrency market, has experienced significant loss. SOL is down 69% from the all-time high, but a sizeable retracement of that loss is coming up. Strong support was found near the $90 value area. 

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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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Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.