Cryptocurrencies Price Prediction: Ethereum, Dogecoin & Bitcoin – American Wrap 20 January

Facebook and Instagram join the NFT mania

NFTs exploded in popularity in 2021, driving Meta to offer users the feature to create, display and sell digital collectibles and art on its social media platforms. Meta is developing the feature to enable the multi-billion userbase to delve into NFTs. 

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos hit market bottom, but downtrend not completely broken

Bitcoin price action has been on the back foot for most of the week, together with most cryptocurrencies. Investors are worried about the FED tightening monetary policy going forward and geopolitical tensions that could risk escalating into a full-scale war, such as between the US and Russia, with Europe caught in the middle. Bitcoin this morning looks ready to start building a floor, with $44,088 in sight as a near-term profit target. For Ethereum, a similar and more clear story is unfolding where $3,018 holds as a floor, with the monthly S1 support pivot and more upside set towards the intersection between the 200-day Simple Moving Average (SMA) and the red descending trend line. For Ripple, the headwinds are weighing more on XRP price action which is making a break below the short-term ascending trend line. Bears are being pushed back against that same trend line this morning, in a bear trap targeting $0.88 to the upside.

Dogecoin price eyes 30% gains as DOGE bulls put an end to retracement

Dogecoin price has seen three major uptrends face blockade around the same hurdle. The most recent rally failed to breach this barrier, leading to a steep correction. The said retracement seems to have found a stable support floor, indicating a reversal.