Cryptocurrencies Price Prediction: Cardano, Shiba Inu & Bitcoin – American Wrap 21 February – FXStreet

FXStreet Team FXStreet Team

Cardano price action has recently achieved (and developing) some historical behaviors not seen in any of the top ten market cap cryptocurrencies – or nearly the entire altcoin space. Nevertheless, a slow bleed off of value continues, with little sign of it abating until the very end of February 2022

Bitcoin (BTC) price was on the back foot over the weekend as, together with other cryptocurrencies, it was the only asset tradable on headlines and news coming out of Ukraine and Russia. As the headlines were not favourable, BTC shed some market value and slipped below $40,000. But following the announcement in the early hours of today, of a new summit between Putin and Biden, markets jumped, as it showed there is still room to talk and a diplomatic solution. Now BTC looks ready to book around 10% gains in the coming trading day.. 

Shiba Inu price faced the same selling pressure experienced by the broader cryptocurrency market this past weekend. Sellers have been in clear control of this market since February 17 and tested the final Ichimoku support level at the bottom of the Cloud (Senkou Span A) but failed to push SHIBA below it.

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A brief technical and on-chain analysis on Bitcoin price. Here, FXStreet's analysts evaluate where BTC could be heading next. 
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Cosmos breaks below the important green ascending trend line that references the uptrend. ATOM has been paring losses at the time of writing and could see the scale tipping towards profits for today.
Bitcoin price slips below the 50-day SMA as it eyes a retest of the $36,398 to $38,895 demand zone. Despite the crash, long-term investors are bullish as the supply of BTC on exchanges hits a three-year low. A breakdown of the $34,752 support level will invalidate the bullish thesis.
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