Cryptocurrencies Price Prediction: Polkadot, Ethereum & SafeMoon — Asian Wrap 13 May
|Here's why Polkadot price likely to fall to $6.90
Polkadot price could continue the steep decline, and a short opportunity could present itself, but the technicals need more time to establish a clear entry. Polkadot price, like most cryptocurrencies in the space, is under considerable bearish pressure. Today, the bears are moments away from printing a bearish engulfing candlestick on the 3-day chart.
Ethereum Price Head and Shoulders pattern forecasts a drop to $1400
ETH price is setting up a classic trading pattern, an opportunity to go short could present itself in the days to come. Ethereum price is currently trading at $1935 as the bears have pushed into the lowest price territory for 2022. Ethereum price sell-off is primarily correlated with the overall sentiment in the crypto market regarding security vs. asset arguments
SafeMoon price bucks the trend with double-digit gains
SafeMoon price action has been a textbook example of volatility and whipsaws. During the Thursday trade session, SafeMoon was up nearly 130%. However, almost all of those gains were promptly sold. Despite the selling, SafeMoon is still 30% higher for the day.
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.