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Cryptocurrencies Price Prediction: Ethereum, Dogecoin & Bitcoin – American Wrap 17 November

Cryptocurrencies Price Prediction: Ethereum, Dogecoin & Bitcoin – American Wrap 17 November
FXStreet TeamFXStreet TeamFXStreet

Ethereum price crash halted, but the point of max pain is yet to come

Ethereum (ETH) price saw its uptrend grind to a halt on Tuesday as ETH price shed 10% of its value. During the rout, many bulls got stopped out of their long positions, and this saw an acceleration of buy-side demand declining. Now bulls are not picking up ETH coins at $4,060, which opens the door for bears to push the price even further towards $3,687 or $3,391 in the near term.

Dogecoin price remains at risk of crashing to $0.18

Dogecoin price on a knife’s edge, significant drop forecasted if buyers dry up. Bullish fundamental data regarding the Dogecoin-funded DOGE-1 satellite fails to entice buying. The threshold to keep Dogecoin from falling becomes increasingly difficult to overcome. Dogecoin price has, like the majority of the cryptocurrency market, faced strong selling over the past few days. But unlike most altcoins, Dogecoin is positioned against an imminent price collapse.

Bitcoin investors shake with fear as Mt. Gox prepares to dump 141,000 BTC

Analysts believe that Mt. Gox's comeback combined with the recent Bitcoin spot ETF rejection has triggered a drop in BTC price. The Bitcoin tokens that Mt.Gox exchange is expected to return to investors and traders were acquired between $100 to $1000. This could trigger a cascading sell-off in Bitcoin. 

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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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