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Cryptocurrencies Price Prediction: Solana, Algorand & Bitcoin – American Wrap 16 March

Cryptocurrencies Price Prediction: Solana, Algorand & Bitcoin – American Wrap 16 March
FXStreet TeamFXStreet TeamFXStreet

Bitcoin price responds to the Fed by rallying, a close at $41,250 essential for further upside

Bitcoin price action has thrown bulls and bears into a tailspin ever since the Fed announced its recent interest rate increase. However, at the time of publication, bulls are in control and look to initiate an extremely bullish entry signal that could set BTC on the path to new all-time highs. 

Solana price at risk of collapse

A brief technical and on-chain analysis on Solana price. Here, FXStreet's analysts evaluate where SOL could be heading next. Please, subscribe to our YouTube channel, follow us on Twitter @FXScrypto and join our Telegram channel.

Algorand Price Forecast: ALGO prepares for 25% rally towards $87

Algorand price has been one of the more bearish cryptocurrencies this week as the price has printed the lowest low all month at $66. Despite the bearish grip, the 12-hour chart says the current downtrend could be coming to an abrupt end.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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Bitcoin hits lowest weekly close since August as short-term holders slip into losses

Bitcoin hits lowest weekly close since August as short-term holders slip into losses

Bitcoin fell below $75,000 on Tuesday, after recording its lowest weekly close since August as selling pressure pushed recent buyers into losses. Short-term holders are approaching their break-even levels, while realized losses have increased relative to profits, according to Monday’s Glassnode Market Pulse.

NEAR Protocol Price Forecast: NEAR risks further decline as bearish signals mount

NEAR Protocol Price Forecast: NEAR risks further decline as bearish signals mount

NEAR Protocol shows resilience above $3.50 on Tuesday, following the previous day’s rebound from the $3.40 support level. Muted institutional investor interest and a steady decline in retail demand, along with a negative Coinbase premium and outflows from NEAR futures, weigh on the AI token.

Ripple and Stellar outlook: XRP and XLM extend losses as bears hold strong

Ripple and Stellar outlook: XRP and XLM extend losses as bears hold strong

Ripple and Stellar remain under pressure, trading below $1.093 and around $0.146 respectively on Tuesday as bears maintain control of momentum. In addition, weakening on-chain and derivatives metrics suggest that both XRP and XLM are at risk of a deeper correction in the coming days. CryptoQuant’s summary data shows a bearish outlook for both altcoins.

Ripple and Stellar outlook: XRP and XLM extend losses as bears hold strong

Ripple and Stellar outlook: XRP and XLM extend losses as bears hold strong

Ripple (XRP) and Stellar (XLM) remain under pressure, trading below $1.093 and around $0.146 respectively on Tuesday as bears maintain control of momentum. In addition, weakening on-chain and derivatives metrics suggest that both XRP and XLM are at risk of a deeper correction in the coming days. CryptoQuant’s summary data shows a bearish outlook for both altcoins.
Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin (BTC) remains under pressure, down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. Persistent outflows from US-listed BTC spot Exchange Traded Funds (ETFs), a sharp sell-off in US technology stocks, and rising market liquidations are weighing on sentiment and limiting Crypto King’s recovery attempts.