Cryptocurrencies Price Prediction: Dogecoin, Algorand & Bitcoin – American Wrap 09 March
Bitcoin price climbs above $42,000 as $183 trillion in shorts liquidated
Bitcoin price posted double-digit gains recovering from the crypto market bloodshed, climbing ahead of $42,000. Several short positions in the asset were liquidated as Bitcoin recovered from the massive drop. Analysts believe there could be a small retracement before the next leg up for Bitcoin.
$BTC broke out of this descending broadening wedge like i talked about yesterday and is currently at my 1st target just underneath the 0.618 fib resistance. A small retrace could be expected here before the next leg up.#BTC #BTCusdt #Bitcoin #cryptofam https://t.co/CgP6BtG9kl pic.twitter.com/WJy6QkcMhj
— Crypto Koolaid (@Koolaid_crypto) March 9, 2022
Dogecoin price to enter buy zone before DOGE returns to $0.23
Dogecoin price has several warning signs on its weekly chart that price action has extended a little too far south too fast. The candlesticks and corresponding oscillators indicate an imminent reversal – likely a broader bullish trend change but, if not, at the very least, a strong pullback.
Algorand price looks oversold and set to rally by 30%
Algorand price, like most altcoins, has suffered from an extended downtrend that has been exacerbated by general risk-off sentiment due to geopolitical saber-rattling by Russia's invasion of Ukraine. However, technicals indicated that a major rally would occur despite uncertainties.
Author
FXStreet Team
FXStreet
