Crypto analysts are recalibrating after a wild week for altcoins followed by yet another drop below $10k for Bitcoin.
An analyst known in the industry as The Crypto Dog tells his 162,000 followers he’s bullish on Ethereum.
“ETH carrying strong, markets looking very bullish.”
He’s also mocking the much-repeated meme that BTC “will never dip below the $10,000 mark again.”
At time of publishing, Bitcoin has once again climbed above that key psychological barrier, down 1.36% at $10,040, according to COIN360.
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After a brief hot streak, the altcoin market is now mostly in the red.
Ethereum is up 4.05% at $220.70, XRP is down 4.46% at $0.3022, and Litecoin is down 2.39% at $76.98.
FXStreet analyst Tanya Abrosimova says Bitcoin remains at risk of further losses in the short term unless it can climb back above $10,250.
“Meanwhile, we will need to see a sustainable move above this handle for the upside to gain traction with the next focus on $10,250 (the middle line of a Bollinger Band on a daily chart)…
On the downside, a move below $9,750 ( the lower line of one-day Bollinger Band) will trigger more sell-off and push the price towards intraday lows of $9,600. This support is followed by $9,300, which is the lowest level from August 30.”
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Here’s a look at the latest forecasts from across the cryptoverse.
Bitcoin
FXStreet – BTC/USD recovers from intraday low, but bearish sentiments are still strong
CoinDesk – Bitcoin price dips to $9.6K as bear cross looms
Ethereum
Crypto Daily – Next line of technical resistance expected around $222.55
XRP
FXStreet – XRP retreating from $0.32 but approaching supports
Litecoin
FX Empire – LTC likely to consolidate before reaching $100 mark towards the end of the year
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