Cryptocurrencies Price Prediction: Polkadot, SafeMoon & Algorand — Asian Wrap 25 Feb

FXStreet Team FXStreet

Polkadot price structure unchanged as DOT awaits breakout to $40

Polkadot price action is mostly unchanged; the same reversal column still exists from November 3, 2021. Bulls have been awaiting an entry for months, but the wait continues. Point and Figure charting filters out the noise and prevents a lot of the anxiety associated with Japanese candlestick charts.

SafeMoon continues to slide south, recovery dependent on Bitcoin’s performance

SafeMoon price has made new 2022 lows and pushed below the critical $0.0010 value area into $0.0009. In addition, it continues to trade below all primary Ichimoku levels, indicating further selling pressure ahead. SafeMoon’s performance is tied to Bitcoin’s performance.

Algorand collapses with the broader crypto market, ALGO hits new one-year lows

Algorand price action is facing the same pressure dominating the entire cryptocurrency market. The results of Russia’s invasion into Ukraine have confirmed what most analysts and pundits expected, but risk-on markets globally continue to feel the pinch – and ALGO is no exception.

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XRP consolidates as inflows and volume climb

Ripple (XRP) retains a slightly bullish outlook on Wednesday despite logging a minor correction from the supply range near $1.15. The remittance token is down 0.5% on the day, reflecting a broader cryptocurrency market drawdown, primarily driven by persistent geopolitical tensions between the United States (US) and Iran in the Middle East.

Bitcoin Price Prediction: BTC recovery holds as ETF inflows persist

Bitcoin (BTC) trades slightly lower around $66,000 on Wednesday as tensions in the Middle East escalate further. Still, the Crypto King is up over 2.5% so far this week.

South Korea crypto volumes shrink as retail investors shift to stocks

South Korea’s major crypto exchanges have seen their trading activity fall sharply over the past year as the country’s stock market surged, suggesting retail speculative interest may be shifting toward equities, Cointelegraph analysis shows.

Crypto Today: Bitcoin, Ethereum, XRP recovery slows amid ETF inflows, US-Iran persistent strikes

Bitcoin (BTC) trades elevated above $66,000 immediate support on Wednesday, following a minor correction from its weekly high of $66,956. The broader crypto market appears to lag on the backdrop of the macro-driven rally, with Ethereum (ETH) hovering above $1,900 and Ripple (XRP) holding support at $1.13.

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.