A brief technical and on-chain analysis on a few cryptos. Here, FXStreet’s analysts evaluate where some of the hottest cryptos on the market could go next. Please, subscribe to our YouTube channel, follow us on Twitter @FXScrypto and join our Telegram channel.
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FXStreet Team
FXStreet
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Zcash (ZEC) price extends gains, trading above $440 on Wednesday after rallying nearly 30% so far this week. ZEC’s rising open interest, elevated bullish bets, and a shift to positive funding rates all point to stronger demand.
Dogecoin (DOGE) holds steady by press time on Wednesday after a nearly 4% rise on Tuesday. Derivatives data indicate a surge in bullish bets and retail interest as the broader cryptocurrency market recovers on hopes that the US Federal Reserve (Fed) will reduce interest rates by 25 basis points.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are showing renewed strength at the time of writing on Wednesday as bullish momentum returns to the broader crypto market.
Dogwifhat (WIF), Pudgy Penguins (PENGU), and Artificial Superintelligence Alliance (FET) are leading the bullish charge over the last 24 hours.
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Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.