Home Latest News Cryptocurrencies Price Prediction: Chainlink, Dogecoin & Shiba inu — Asian Wrap 26...

Cryptocurrencies Price Prediction: Chainlink, Dogecoin & Shiba inu — Asian Wrap 26 August – FXStreet

FXStreet Team FXStreet Team

Chainlink price has lost 25% of  its market value since rallying 67% this summer. LINK price consolidated under relatively sparse volume, hinting that bulls want a better deal. Invalidation of the bearish thesis is a closing candle above $9.65.
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Technical and on-chain analysis note significant influence of high market cap investors on the Dogecoin price. Last week, Dogecoin price rallied an impressive 25% in just a few hours. A contrarian forecast was issued proposing that the uptrend move was more of a sucker’s rally than the start of a new bull run.
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Shiba Inu Price surges 15% during the London session. The Volume Profile Indicator shows an influx of transactions pouring in on intra-hour time frames. A daily close above $0.00001700 would add more confidence that the uptrend spike is a genuine start of the next rally.
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Bitcoin price hit a floor after Jerome Powell’s speech at the Jackson Hole Economic Symposium. After the asset’s price declined nearly 6% over the past week, Wall Street analysts believe Bitcoin has hit its bottom. 
Bitcoin price shows that the recent sell-off was quickly undone as bulls came to the rescue. This development was well received by altcoins, including Ethereum and Ripple, which have also experienced quick recoveries.
XRP price reveals a massive bearish setup that could ruin its recovery rally, especially if bulls fail to invalidate it. Therefore, investors need to exercise caution as this outlook is in line with the macro bearish structure of the crypto market.
MATIC price is in a range tightening mode after a steep correction last week. This development will likely revert to the mean before establishing a directional bias. 
Bitcoin price shows a tight consolidation on a lower time frame – an ascending parallel channel – that repeats the motif of three larger channels that have developed on higher time frames since the start of 2022. 
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