Cryptocurrencies Price Prediction: Bitcoin, Dogecoin and Shiba Inu – European Wrap 13 June – FXStreet

Wealthlandnews June 16, 2022
Updated 2022/06/16 at 2:48 PM

FXStreet Team FXStreet Team

Bitcoin price has crashed quite a bit over the weekend, taking Ethereum, Ripple and other altcoins with it. The cause of this brutal market downswing seems to be two-fold – fears around the solvency of the Celsius Network and the CPI announcement.

BTC/USD 1-day chart
Dogecoin price shows that the crash is likely to continue until a stable support level is reached. Investors need to be cautious for the next few days, at least until sellers and the bearish momentum dissipate.
Shiba Inu (SHIB) price is under pressure as the token racks up its seventh day of losses – assuming SHIB price does not close above $0.00000859 this evening. To make matters worse, a daily close below a key technical line could bring even more downside risk by increasing the power of bear’s hold over price action. Expect this Monday to be crucial for SHIB price action for the rest of the week, with both a 30% drop and a 20% pop potentially on the cards.

SHIB/USD daily chart

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Dogecoin price is hovering above the $0.048 support level after a 72% crash in the last 70 days. The MRI indicator flashes a buy signal on the weekly time frame, suggesting the possibility of a bottom.
A brief technical and on-chain analysis on TRON price. Here, FXStreet’s analysts evaluate where TRX could be heading next.
Solana price has been on a rollercoaster ride, mostly sliding lower for the better part of 2022 and the last quarter of 2021. With the bearish market conditions pausing, the chances of a minor relief rally seem likely.
Ripple price has not seen a 50% retracement from any decline following last week’s trade setup, suggesting an extended impulse wave is underway. A retest of $0.29 could be the catalyst to send XRP price to $0.25.
BTC is at a point in its journey through the bear market where investors are split into camps that are expecting a relief rally, a continuation of the crash and a full-blown bull rally. Interestingly, none of the aforementioned theses is wrong per se.
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