Cryptocurrencies Price Prediction: Monero, Polygon & Sui — Asian Wrap 07 August

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Monero Price Forecast: Privacy coin hits two-month low

Monero (XMR) price trades in the red around $284 at the time of writing on Thursday, extending its losses by 6% so far this week to hit a fresh two-month low. Bearish sentiment is growing, as reflected in rising short positions and increased activity in the futures market. The technical analysis suggests that a sustained close below the $277.96 support level could pave the way for a deeper pullback toward the $241.95 mark.

Crypto Market Gainers: POL, DEXE, CAKE surge as Ethereum reclaims $3,700

Polygon (POL, previously known as MATIC), DeXe (DEXE), and PancakeSwap (CAKE) emerge as front-runners in the cryptocurrency market, driven by Ethereum (ETH) reclaiming the $3,700 mark, as they are or were primarily Ethereum-based projects. The technical outlook holds an optimistic lens as the altcoins gradually regain bullish momentum to face critical resistance levels. POL edges higher by over 2% at press time on Thursday, extending the uptrend for the fifth consecutive day.

Sui Price Forecast: SUI derivatives and on-chain data hint at a bearish shift

Sui (SUI) price is showing signs of weakness, trading below $3.5 at the time of writing on Thursday after closing below its ascending trendline. Bearish cues from on-chain and derivatives data, such as negative Spot Taker CVD and a rise in short positions to a one-month high, add weight to the downside outlook. The technical analysis suggests a weakness in momentum, suggesting a short-term correction for SUI.

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XRP Price Forecast: XRP trades sideways as Ripple targets 10 million agentic AI transactions

Ripple (XRP) is losing momentum on Thursday, albeit gradually, trading above $1.13. The remittance token tagged a weekly high of $1.16 on Tuesday, with gains mainly attributed to developments on the United States (US) Clarity Act and recent signs that inflation is easing in the world’s largest economy.

Crypto Today: Bitcoin, Ethereum, XRP trim gains despite resilient ETF inflows

Cryptocurrency prices are trending lower on Thursday, pressured by renewed inflation concerns stemming from ongoing tensions between the United States (US) and Iran and persistently elevated Oil prices. Bitcoin (BTC) is approaching short-term support at $65,000, with upside resistance remaining firm at $67,000.

Worldcoin Price Forecast: WLD steadies as multiple bullish signals line up

Woldcoin (WLD) price trades around $0.3838 at press time on Thursday, extending a consolidative tone capped beneath the 50-day Exponential Moving Average (EMA) at $0.4141. WLD token emissions are scheduled to drop by 43% from Friday, reducing supply pressure. Retail activity in WLD derivatives remains firm, with a 40% rise in trading volume and elevated funding rates.

Dogecoin Price Forecast: DOGE nears yearly low as risk appetite fades

Dogecoin (DOGE) extends its decline on Thursday, approaching its yearly low at $0.069 as bearish sentiment continues to weigh on the meme coin. Escalating US-Iran conflict and fresh Houthi threats have dampened risk appetite, weighing on speculative assets such as DOGE. Weakening derivatives metrics and a deteriorating technical outlook suggest a deeper correction if DOGE slips below $0.069.

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.