Cryptocurrencies Price Prediction: Terra, Ethereum Classic & Siba Inu — Asian Wrap 07 November

FXStreet Team FXStreet

Terra’s LUNA price back on the drawing board after snapping out of a 13% bullish breakout

LUNA price seeks support at a confluence level created by the 50-day EMA and the 100-day EMA. Terra’s LUNA price is in grave danger of dropping to retest $2.30. Bulls could resume the 13% double-bottom breakout to $2.88 if LUNA reclaims the neckline support at $2.55.

Ethereum Classic Price Prediction: Time to lock in the gains as ETC price retreats

Ethereum Classic price is turning red on Sunday after completing a breakout move to $27.00 as analyzed by FXStreet earlier this week. This rebound respected the confines of a rising parallel channel, but profit booking seems to be curtailing the extension of ETC’s bullish leg above $30.00.

Shiba Inu Price Prediction: Profit taking could drag SHIB price 15% down

Shiba Inu price appears to be consolidating between a horizontal support and resistance. Its recent breakout elevated the second-largest meme coin to highs marginally above $0.00001500. However, SHIB price retreated as investors booked profits.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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