Cryptocurrencies Price Prediction: Dogecoin, Bitcoin & Crypto – European Wrap 6 May

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Major meme coins Dogecoin, Shiba Inu slide as Turbo surges 250% in a month

Cryptocurrency prices are broadly stagnating on Tuesday, ahead of the Federal Reserve (Fed) meeting on the decision on interest rates on Wednesday. Leading meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) face sticky overhead pressure, making recovery elusive, while downside risks emerge. However, Turbo, a relatively smaller meme token, outperformed major assets, increasing over 12% on the day to trade at $0.006 at the time of writing.

Bitcoin Price Forecast: BTC bulls show signs of exhaustion as holders realize profits, and dormant wallets are moving

Bitcoin (BTC) price is hovering around $94,000 at the time of writing on Tuesday after failing to close above the key resistance level of $97,700 last week. On-chain data shows that BTC holders are realizing profits. Additionally, BTC’s dormant wallets are moving, and if tokens are sent to exchanges, the selling pressure could increase.

Crypto hovering at altitude

The cryptocurrency market is losing about 1%, charting a downward trend after soaring in the second half of April and plateauing at the very end of the month. With a market capitalisation of $2.94 trillion, the cryptocurrency market is just over 1% below the levels of a week ago. Among the top coins over the past seven days, anonymous Monero and zCash remain in the lead, remaining in positive territory after surging due to a hacker theft last week, which reminds us of the advantages of this type of coin.

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FXStreet Team

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Top 3 Price Prediction: BTC consolidates gains, ETH defends support, XRP nears breakout trigger

Bitcoin, Ethereum and Ripple begin the week on a constructive note as the top three cryptocurrencies attempt to extend rebounds after recovering nearly 4%, 2% and 2.6%, respectively. BTC steadies around $65,600, ETH continues to hold firmly above the key $1,700 support, while XRP nears the upper boundary of the falling channel pattern.

Ethereum Price Forecast: ETH struggles below $1,700 amid subdued on-chain users and capital outflows

Ethereum rises, albeit gradually, toward $1,700. The smart contract token reflects a marginal increase in buyers seeking to re-engage at lower price levels, following the massive drawdown from mid-May, which was largely driven by geopolitical tensions in the Middle East and macroeconomic uncertainty.

XRP clings to support as derivatives interest cools

Ripple hangs on to $1.14 support, extending its rebound from its early-week support at $1.10 and June’s low of $1.05. Maintaining this short-term support level is vital for the remittance token to preserve its bullish momentum, with a decisive breakout above $1.20 likely to signal further upside potential.

Crypto Today: Bitcoin, Ethereum, XRP recovery slows amid incessant capital outflows

The cryptocurrency remains in a broader corrective bias on Friday, despite majors such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) holding slightly higher than early-week support levels. Bitcoin hovers around $63,500 amid a capped upside. Ethereum eyes a breakout past $1,700, while XRP hovers above $1.40.

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.