Cryptocurrencies Price Prediction: Polkadot, Ripple & Shiba Inu — Asian Wrap 14 Feb – FXStreet

FXStreet Team FXStreet Team

Polkadot price has been hammered south since last Thursday. DOT has lost up to 21% in just five days, returning it precipitously close to three-month and 2022 lows. Hidden bullish divergence is the only condition that could prevent a massive sell-off.

XRP price recently broke the bear market trendline on its $0.02/3-box reversal Point and Figure chart. That break occurred when XRP tagged the $0.92 price level, but it promptly sold off from there. Downside risks exist but are likely limited.

Shiba Inu price action has outperformed a good chunk of the altcoin market. SHIBA has performed admirably despite experiencing intense selling pressure leading up to and after the poor US CPI data last Thursday. Most importantly, it has held onto the daily Tenkan-Sen as its primary support level.

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Cardano price has been on a downswing for the past month and has revisited a crucial support level twice in this range. A breakdown of this barrier could lead to a steep correction to levels last seen a year ago. Cardano price set up a higher high at $1.64.
XRP price could be headed lower as sentiment fails to shift bullish, putting Ripple at risk of a 10% fall toward $0.70. The prevailing chart pattern suggests that the cross-border remittance token could continue to consolidate. 
Bitcoin price dropped below a critical Ichimoku level on Thursday and extended the drop throughout Friday and Saturday. However, this pullback is probably due to a return to equilibrium within the Ichimoku Kinko Hyo system.
MATIC price has been on a downtrend since December 27, 2021, and has shown no signs of a reversal so far. The recent uptrend, albeit promising for a while, failed to set up a higher high.
Bitcoin price is at an inflection point of its recent uptrend and is likely to reverse and establish a directional bias. If BTC sets a higher low, there is a good chance the rally will continue; else, investors can expect a steep correction.
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