Cryptocurrencies Price Prediction: Dogecoin, Bitcoin & Zcash — Asian Wrap 12 November

FXStreet Team FXStreet

Dogecoin Price Forecast: DOGE extends losses as long-term holders offload

Dogecoin (DOGE) approaches the $0.17000 round figure on Wednesday, after a 5% loss on the previous day. In the third consecutive week of losses, DOGE risks further correction as on-chain data suggests old supply reentering circulation, indicating profit-taking by investors. Derivatives data indicate a steady decline in DOGE futures as risk-off sentiment persists among traders.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP face pullbacks after key resistance rejections

Bitcoin price rose slightly and retested the key resistance at $106,453 —the 38.2% Fibonacci retracement — on Monday and declined 2.78% the next day. At the time of writing on Wednesday, BTC hovers at around $103,000. If BTC continues its correction, it could extend the decline toward the key support at $100,353.

Zcash, Filecoin, and Uniswap lead losses as Bitcoin drops to $103,000

Zcash trades below $450 at press time on Wednesday, crossing below the 100-period Exponential Moving Average (EMA) on the 4-hour chart. The privacy coin extends the breakout double top pattern formed near $682 high from Monday, with a neckline close to the $500 psychological level. Zcash’s declining trend targets the 200-period EMA at $372 as immediate support, risking the $400 round figure.

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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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