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Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Axie Infinity — Asian Wrap 16 Sep

Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Axie Infinity — Asian Wrap 16 Sep
FXStreet TeamFXStreet TeamFXStreet

Ethereum bears to pounce on ETH bulls, -15% drop in crosshairs

Ethereum price jumped +4.57% yesterday and is presently up nearly +3% today. The new weekly highs come as Ethereum hits some significant resistance levels in the Ichimoku system. Failure to cross and hold above these Ichimoku levels will likely create a -15% drop towards the $2,900 value area. 

Bitcoin bulls get overconfident, but BTC faces strong resistance

Since Monday, Bitcoin price has made some impressive moves, driving higher from the Monday lows of $43,444 to the current weekly high at $46,134. Bulls have pushed Bitcoin price higher with little resistance or retracement. However, strong resistance levels could trigger an end to the current bullish momentum.

Axie Infinity hints at 16% upswing despite AXS sideways price action

Axie Infinity (AXS) price action is range trading, with a 18% bandwidth. A surplus bullish element with the 55-day Simple Moving Average (SMA) coming into play below the current price is helping buyers gain traction and wash out sellers on the upper end of the range. Once through there, it is a quick spurt towards $85.22.

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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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Zcash Price Forecast: ZEC declines as US inflation surprise offsets fresh ETF inflows

Zcash Price Forecast: ZEC declines as US inflation surprise offsets fresh ETF inflows

Zcash is trading in the red, extending its previous day’s roughly 6% losses as the broader cryptocurrency market falls on rising US inflation. The US Consumer Price Index print came in higher than expected, at an annual increase of 3.7% versus the expected 3.6%, raising concerns about inflation and rate hikes.

Ripple and Stellar outlook: XRP and XLM extend losses as US inflation data weighs in

Ripple and Stellar outlook: XRP and XLM extend losses as US inflation data weighs in

Ripple and Stellar extend their losses on Thursday as bearish momentum builds, having corrected over 7% and 11% so far this week. XRP and XLM both slip below key support zones, indicating weakening technical structure.

Bitcoin falls on hot CPI: Why $80,000 support matters

Bitcoin falls on hot CPI: Why $80,000 support matters

Bitcoin's most critical level to watch is near $80,000 as September's hot inflation reading pressures the crypto market, according to Glassnode. The top crypto declined within minutes of the September CPI release, which showed a 3.7% annual increase in headline inflation, above forecasts of 3.6%. Core inflation, which excludes food and energy prices, came in at 2.6%.

Ethereum Price Forecast: ETH falls below $2,500 as hot CPI raises Fed hike odds

Ethereum Price Forecast: ETH falls below $2,500 as hot CPI raises Fed hike odds

Ethereum (ETH) extended its decline below $2,500 on Wednesday after a hotter-than-expected US inflation print renewed selling across the crypto market. At the time of writing, the top altcoin trades near $2,430, down 3.1% in the past 24 hours. The US Consumer Price Index (CPI) for September rose 0.6% monthly, in line with market forecasts and up from a 0.4% increase in August.
Bitcoin: Uptober or Rektober?

Bitcoin: Uptober or Rektober?

Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.