Shiba

Bitcoin

Shiba Inu

Chainlink

Trillion

Crypto Price Prediction: For nearly two weeks, the <a href="https://coingape.com/crypto-prices-today-bitcoin-nears-drop-below-51k-eth-pepe-rebound-as-fil-rallies/">cryptocurrency</a> market cap has been teasing the $2 Trillion threshold, triggering a sideways sentiment among market participants. This lateral movement aligns with the Bitcoin price consolidation between $52885 and $50680 horizontal level to create a range pattern. 
Currently, the traders are struggling to decide if the consolidation is a distribution for a correction or a pre-rally consolidation to regain strength. 
However, the crypto financial services platform Matrixport released a new <a rel="nofollow" href="https://docsend.com/view/3xag7us3udaanuj7?utm_source=BenchmarkEmail&amp;utm_campaign=MoT_VIP_CN_23_Feb_2024&amp;utm_medium=email">report</a> bolstering a bullish outlook for BTC with a potential target of $63,000 in March 2024. The optimism is rooted in several significant events on the horizon. Among these, Bitcoin spot ETF approval stands out as a pivotal moment, alongside the eagerly anticipated Bitcoin halving. Additionally, there’s a buzz around potential interest rate cuts following the Federal Reserve’s FOMC meeting, and the influence of the upcoming U.S. presidential election. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Matrixport released a new report stating that BTC’s goal of reaching $63,000 in March 2024 is achievable. Catalysts include: the approval of a Bitcoin spot ETF, the Bitcoin halving, expectations of an interest rate cut after the Fed’s FOMC meeting, and the U.S. presidential… 
 — Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1760896262076051618?ref_src=twsrc%5Etfw">February 23, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Bitcoin (BTC), Chainlink (LINK), and Shiba Inu (SHIB) offer a new entry opportunity to market recovery resumes. 
Also Read: <a href="https://coingape.com/reddits-ipo-documents-unveil-investment-in-bitcoin-ethereum/">Reddit’s IPO Filing Reveals Investments in Bitcoin and Ethereum</a> 
<h2 id="b-will-bitcoin-price-will-retest-50000-b">Will Bitcoin Price Will Retest $50000?</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/x/xlIBxyff.png" alt="BINANCE:LINKUSDT Chart " width="1946" height="937">
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 Bitcoin Price| Tradingview
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The leading cryptocurrency <a href="https://coingape.com/european-regulators-labels-bitcoin-costly-inconvenient-despite-etf-approval/">Bitcoin</a> is trading at $51228 and has been resonating within $52885 and $50680 levels. The coin price rebounded from both levels twice with a projection of short body candles reflecting an indecisive sentiment in the market. 
Thus, a breakout beyond this range will be an early signal of the <a href="https://coingape.com/bitcoin-miner-riot-texas-blockchain-files-lawsuit-against-us-doe-eia-omb/">BTC</a> trajectory for the near term. A bullish breakout from $52885 resistance will signal the continuation of a bullish recovery to $59810. 
However, data from IntoTheBlock reveals that 1.38 million addresses purchased 1.33 million Bitcoins at an average price of $2,984, totaling an investment of $3.9 billion. These investors are currently facing losses and might trigger selling pressure upon reaching a break-even point.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Data from <a href="https://twitter.com/intotheblock?ref_src=twsrc%5Etfw">@intotheblock</a> shows that 1.38 addresses bought 1.33M <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($3.9B) at an average price of $2,984. 
 They are currently at a loss and may generate selling pressure when their positions reach breakeven. 
 4 whales sold 34,134 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($100.8M) near the $3,000 price. 
 0x7102… <a href="https://t.co/QUHnSikIyo">pic.twitter.com/QUHnSikIyo</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1760873712772075713?ref_src=twsrc%5Etfw">February 23, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Additionally, Lookonchain spotted that four Ethereum whales sold 34,134 ETH, worth about $100.8 million, near the $3,000 level. This highlights strategic moves within the volatile crypto market, underscoring the cautious approaches of large-scale investors. 
Thus, a breakdown below the $50680 will trigger a correction to $49000. 
Also Read: <a href="https://coingape.com/valkyrie-expands-with-launch-of-bitcoin-futures-etf-btfx/">Valkyrie Expands with Launch of Bitcoin Futures ETF BTFX</a> 
<h2 id="b-chainlink-price-downtrend-to-hit-17-soon-buy-this-dip-b">Chainlink Price Downtrend to Hit $17 Soon, Buy This Dip?</h2> 
<img decoding="async" src="https://s3.tradingview.com/snapshots/x/xlIBxyff.png" alt="BINANCE:LINKUSDT Chart Image by sahilmahadik07">The current consolidation in the crypto market took a significant toll on the <a href="https://coingape.com/price/chainlink/">Chainlink price</a> as the asset has been falling for five consecutive days. Within a week, altcoin plunged 11.6% to currently trade at $17.9. 
However, the falling price backed by decreasing volume reflects the weakening momentum in sellers and a potential for temporary pullback. The supply pressure may have plunged the coin price by 3.5% to potential support at $17. 
An analysis of the higher time frame chart shows this reversal is a minor retest to the neckline of the cup and handle pattern. If the <a href="https://coingape.com/markets/chainlink-price-prediction-as-bullish-pattern-leap-to-23/">LINK</a> price shows sustainability above this flipped support, the buyers may chase a potential target of $29.85.&nbsp; 
Also Read: <a href="https://coingape.com/bitcoin-halving-btc-price-demand-supply/">Bitcoin Halving to Push BTC Price At $273K, Demand-Supply Ratio At 13x</a> 
<h2 id="b-will-shiba-inu-price-rebound-from-0-000009-b">Will Shiba Inu Price Rebound From $0.000009?</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/r/RocJ667s.png" alt="BINANCE:SHIBUSDT Chart Image by sahilmahadik07" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Shiba Inu Price| Tradingview
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</figure> 
Following a recent downswing from $0.00001 psychologically, the popular memecoin <a href="https://coingape.com/shiba-inu-burn-rate-soars-4205-amid-sheboshi-hype-shib-price-to-rally/">SHIB</a> plunged 4% within a week to reach $0.00000954. If the supply pressure persists, the price may tumble another 3% to hit combined support of $0.00000922 and support trendline. 
This ascending trendline active for the past 4 months has offered buyers dynamic support during a major market correction. Thus, a potential rebound from this trendline offers another dip opportunity for buyers to recuperate strength. 
Moreover, the layer 2 solution Shibarium has witnessed a remarkable surge of $3.8 Billion in daily transactions reflecting the increasing adoption and utilization of the network. 
<figure id="attachment_182191" aria-describedby="caption-attachment-182191" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-182191" src="https://coingape.com/wp-content/uploads/2024/02/image_2024-02-23_18-15-08.png" alt="Shibarium| Daily transactions" width="1479" height="412" srcset="https://coingape.com/wp-content/uploads/2024/02/image_2024-02-23_18-15-08.png 1479w, https://coingape.com/wp-content/uploads/2024/02/image_2024-02-23_18-15-08-300x84.png 300w, https://coingape.com/wp-content/uploads/2024/02/image_2024-02-23_18-15-08-1224x341.png 1224w, https://coingape.com/wp-content/uploads/2024/02/image_2024-02-23_18-15-08-768x214.png 768w, https://coingape.com/wp-content/uploads/2024/02/image_2024-02-23_18-15-08-150x42.png 150w" sizes="(max-width: 1479px) 100vw, 1479px">
 <figcaption id="caption-attachment-182191" class="wp-caption-text">
 Shibarium| Daily transactions
 </figcaption>
</figure> 
Thus, a reversal from a $0.00000922 may surge the <a href="https://coingape.com/price/shiba-inu/">Shiba Inu price</a> by 14% to hit $0.0000105. 
The post <a href="https://coingape.com/markets/top-3-crypto-price-prediction-featuring-btc-link-shib/">Top 3 Crypto Price Prediction Featuring BTC, LINK, SHIB</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Top 3 Crypto Price Prediction Featuring BTC, LINK, SHIB

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