The presidential campaign in the United States is having an impact upon the cryptocurrency sphere, not just politics and the media.
The ongoing chaos of which candidate actually won the election has caused quite a few people to put their money into Bitcoin. Whenever things go awry in the real world, people look to safe havens to safeguard their investments. BTC price has definitely benefited from this mindset this week. How will some of the altcoins fare? Today we offer some price predictions for DOT, FET, ENJ, and REN, as well as Bitcoin.
BTC/USD – Price Prediction
Amidst fear of the election results, BTC has once again proven itself to be a safe investment option. This has led to a huge spike in BTC price.
As discussed previously, BTC cleared the resistance of $13,800, and we could see a rally towards $19,000. If we see a retrace, the $13,800 area would be a good place to open longs. Breaking $13,800 could push BTC price towards $13,000 and $11,900.
DOT – Price Prediction
Polkadot, which allows chains to interact with each other while remaining independent to run their own governance models, is a very strong coin to hold fundamentally. It has bounced from the support of $3.98 and is currently at a resistance of $4.56. If this resistance can be flipped to support, we could see a DOT price move towards $5.08 and $5.47. Failure to hold support of $3.98 could pull the price down towards $3.60.
ENJ – Price Prediction
Enjin has bounced perfectly from the support at $0.119. If we can break resistance 1 at $0.138, we could see a quick ENJ price move towards resistance 2 at $0.16 and a potential move towards resistance 3 at $0.18
REN/BTC – Price Prediction
REN has approached a double bottom pattern with BTC. It has bounced off the price of 160 satoshis. With decreasing BTC dominance, we could see REN price move towards 249 and 299 satoshis.
FET/BTC – Price Prediction
Fetch.ai appears to have bottomed out on the BTC pair. We could see a potential move towards 299 and 340 satoshis. Failure to hold the current support could drop FET price towards 179 satoshis.
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.