Cryptocurrencies Price Prediction: Bitcoin, Shiba & MATIC – American Wrap 10 May
MATIC price oversold for the first time in 11 months, making ready for short-term recovery
MATIC price continued its downtrend this week after losing the $1 mark, bringing the cryptocurrency to a four-month low. However, an important signal noted over the last 24 hours suggests that the altcoin may not be too far away from beginning a recovery.
Bitcoin price eyes the $29,000 target as US Consumer Price Index (CPI) came in at 4.9%, below market participant’s expectations of 5%. The largest asset by market capitalization rallied in response to the data release by the US Bureau of Labor Statistics (BLS).
Shiba Inu (SHIB) price has been handed over to the law of physics as the chart is starting to show proof of gravity even in altcoins. SHIB bulls are nowhere to be seen as only a handful venture to build a stake in Shiba Inu at the present. With the descending trend channel firmly aligned and acting as a scarecrow in the face of any would-be bulls, a return to $0.00001000 is almost impossible, while the downside points to $0.0000750 or another 15% lower.
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FXStreet Team
FXStreet
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