Cryptocurrencies Price Prediction: Polkadot, AVAX & Chainlink – American Wrap 03 May

FXStreet Team FXStreet

Chainlink price volatility drops, bringing transactions to 2020 lows, whales resort to dumping

Chainlink price, after days of sideways movement, failed to initiate a recovery, reinforcing the bearish outlook of its large wallet holders. Most of the investors are going back to being inactive, which in turn is having a drastic impact on the on-chain transactions.

AVAX price on trajectory to snowball 15% lower as pivotal level comes into view

Avalanche (AVAX) price is sliding again on Wednesday as big brother Bitcoin loses ground this time. The sell-off in Bitcoin weighs on all its siblings, cousins and nephews in the crypto and altcoin space. Avalanche price is nearing a very important supportive area at $16, which is the last barrier between now and a 15% decline that would have AVAX valued sub-$15.

Polkadot is treading water and is about to sink another 10%

Polkadot (DOT) price is a bit of an outlier this Wednesday, while several other crypto and altcoins are showing a small turnaround with a bullish undertone. DOT is not showing any of that after bears breached the dams and flooded the area around $5.75. Price action quickly sank lower and is heading toward $5.30 with no real support to be found along the way.

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FXStreet Team

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Top 3 Price Prediction: BTC consolidates gains, ETH defends support, XRP nears breakout trigger

Bitcoin, Ethereum and Ripple begin the week on a constructive note as the top three cryptocurrencies attempt to extend rebounds after recovering nearly 4%, 2% and 2.6%, respectively. BTC steadies around $65,600, ETH continues to hold firmly above the key $1,700 support, while XRP nears the upper boundary of the falling channel pattern.

Ethereum Price Forecast: ETH struggles below $1,700 amid subdued on-chain users and capital outflows

Ethereum rises, albeit gradually, toward $1,700. The smart contract token reflects a marginal increase in buyers seeking to re-engage at lower price levels, following the massive drawdown from mid-May, which was largely driven by geopolitical tensions in the Middle East and macroeconomic uncertainty.

XRP clings to support as derivatives interest cools

Ripple hangs on to $1.14 support, extending its rebound from its early-week support at $1.10 and June’s low of $1.05. Maintaining this short-term support level is vital for the remittance token to preserve its bullish momentum, with a decisive breakout above $1.20 likely to signal further upside potential.

Crypto Today: Bitcoin, Ethereum, XRP recovery slows amid incessant capital outflows

The cryptocurrency remains in a broader corrective bias on Friday, despite majors such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) holding slightly higher than early-week support levels. Bitcoin hovers around $63,500 amid a capped upside. Ethereum eyes a breakout past $1,700, while XRP hovers above $1.40.

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.