Cryptocurrencies Price Prediction: Polkadot, Terra & Shiba Inu — Asian Wrap 03 October

FXStreet Team FXStreet

Polkadot price at risk of printing new lows for 2022

Polkadot (DOT) price action has been on the cusp of breaking the chains of the bear market as, at one point this week, bulls tried to make a run for $6.92. Instead, they were cut short in their tracks by a very simple technical cap. Expect to see some possible gains being eked out this evening for the week, but risk looms for next week.

Terra price action struggles as a cap hang over its performance

Terra (LUNA) price action has slightly recovered after the second negative print on its weekly performance in a row. The Barr looks to be set at $0.000306 as a cap to the upside for now and is currently handing bulls a strong rejection.

Shiba Inu price is broken as it does not represent current market turmoil

Shiba Inu (SHIB) price action has been flirting with both sides of the trading spectrum and has not moved that much between bears and bulls. It has taken until the weekend to see a sense of direction finally, and taking these elements into account against the current volatile week in financial markets points to an issue.

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FXStreet Team

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Ripple extends losses as derivatives interest cools

Ripple (XRP) extends its bearish roll near $1.12 support on Friday, reflecting intense headwinds in the broader crypto market largely attributable to macroeconomic pressure.

Crypto Today: Bitcoin, Ethereum, XRP weaken further as capital outflows persist

Macroeconomic headwinds continue to weigh heavily on the cryptocurrency market on Friday, prompting major assets like Bitcoin (BTC) to pare earlier gains and extend losses after June’s brief relief rally.

Bitcoin Weekly Forecast: Recovery hopes fade after the Fed spoils the party

Bitcoin is set to end the week in the red, trading near the 200-Week Simple Moving Average at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds point to a sixth consecutive week of outflows.

Sui risks a deeper bearish leg despite on-chain resilience

Sui is down 2% on Friday, extending its decline toward the recent support leg formed at $0.6618. The Total Value Locked in the Sui ecosystem has stabilized around 600 million SUI tokens, reflecting resilient user demand.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.