Cryptocurrencies Price Prediction: Ripple, Cardano & Bitcoin – American Wrap 23 February – FXStreet

FXStreet Team FXStreet Team
FXStreet

Bitcoin price fell below the Ichimoku Cloud over the weekend and extended its losses to sub $40,000 for the first time since early February. However, Tuesday’s price action recovered nearly all of Monday’s losses. Buyers have extended the rally from yesterday, but near-term resistance threatens to terminate that bullish momentum.

The overall crypto market capitalization dropped significantly, from $2 trillion to $1.7 trillion amidst rising geopolitical tension. Cardano holders have maintained their wallet balance above $10.12 billion ADA despite the price drop, fueling a bullish outlook. 
$ADA: Every bounce is still getting sold off, waiting for a final leg down before a reversal. Would consider buying this at .50. pic.twitter.com/yfdwQpMy0l
XRP price collapsed below three crucial Ichimoku support levels on Monday: the Tenkan-Sen, Kijun-Sen, and top of the Ichimoku Cloud (Senkou Span B). The most significant of these drops was the move below the most substantial level of the Ichimoku system, Senkou Span B. Bulls kept XRP price above Senkou Span A despite the intense selling pressure and are now positioned to test those former Ichimoku support zones as resistance.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Russia recently announced that it would launch military action in Ukraine. Several media reports have noted that explosions were heard in Kyiv, the capital of Ukraine. Bitcoin price has dropped below $35,000, in tandem with the stock markets in the United States.
Dogecoin price is currently hovering on a critical support level, a breakdown of which could lead to a steep correction, but a bounce could trigger a new uptrend. Therefore, investors need to be cautious.
Shiba Inu price is preparing for a significant uptick following the formation of a bullish chart pattern. However, SHIB must slice above multiple obstacles ahead in order to validate the optimistic technical pattern. Shiba Inu price is forming an ascending triangle pattern on the daily chart.
Ethereum price is stuck between two massive barriers that are squeezing the altcoin into consolidation. The recent retest of the support area suggests that ETH is due for a quick run-up. Ethereum price slid lower due to the recent crash and tagged the $2,160 to $2,567 demand zone.
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.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

source