Crypto markets are on the verge of closing the historically bearish annual trade in 2022. As the markets turned to hopium, it was seen that the markets cleared after the huge bull run that enthusiastically raised the prices. However, after the undesirable characters are off the market, it now seems like the time has come for a significant upswing. cryptocoin.comWe have compiled the Bitcoin, Ethereum, SHIB and DOT forecasts for 2023 for you.
Bitcoin (BTC)
Bitcoin prices continue to trade just above the support levels it has held for over a month. The price has been testing critical 200-day MA levels for the past few days. Unfortunately, it is always met with a harsh rejection. Meanwhile, bearish volume continues to dominate, which is feared as BTC price retests 2022 lows.
BTC price has drastically reduced volatility as the bulls remain offshore. The bearish triangle is expanding to signal the continuation of the bearish triangle. In the next 24-48 hours, BTC price is believed to test the upper resistance at the 200-day MA levels, which also coincides with the resistance of the descending triangle. It is said that a successful attempt could push the price above $17,000 and eventually reach $18,000. There is also talk that the rejection could create a new bearish wave for a drop below $14,000.
Ethereum (ETH)
Ethereum price follows stellar crypto. However, it is trading within a decisive symmetrical pennant. The price has not yet come close to the edge of consolidation, which could consume the next few weeks. Therefore, as the markets continue to move towards the bottom of the current bear market, the price may trend narrowly at tight levels until then.
It is assumed that ETH price will consolidate below $1200 for a while and then rise after testing the lower support of the triangle. However, after reversing from the lows, the price could rise and break above the levels to reach the critical $1400. However, after reaching these levels, ETH price may face a minor rejection that could hinder progress but continue the uptrend in the future.
Shiba Inu (SHIB)
According to the latest Shiba Inu news, the bearish trend continues. However, not much is expected from the market. It is thought that it may take some time for the sector to get rid of this trend. Many analysts think that a major crypto winter is yet to come in the near future. He says that for some investors, good days are just around the corner.
A new target is expected if the SHIB price ends its 2022 trade on a bullish note and continues its legacy. It is said that the price may exceed the target of $0.0000259 as startups like DAO, Shiba Inu game and NFTs gain more momentum. At the same time, usual buying and selling pressures are thought to push the price up to $0.0000185. Finally, bearish divergences are said to leave the price at $0.0000112.
Polkadot (DOT)
DOT tokens are the native cryptocurrency of the Polkadot blockchain. The management system is where all DOT token holders have voting rights. Bids are made by the DOT owners or by the board. Several post-launch upgrades to Polkadot are under development, including the release of XCM, Polkadot’s consensus communication standard, upgrades to XCMP (chain-to-chain message passing protocol), governance improvements, and the launch of parathreads.
If Polkadot welcomes adoption and utility alongside its increased rise with parachains, the network would witness an increase in emotional beliefs and volumes. This could push the dot altcoin asset to close trading at $7,6845 for the year. On the other hand, bears dominance is thought to push the minimum price to $5,2321. However, the average point price constrained by a linear projection, the base is said to be $6.4583.
