Cryptocurrencies Price Prediction: Bitcoin, Bonk & Tron — Asian Wrap 06 August
|Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, XRP slip as resistance levels hold firm
Bitcoin (BTC) trades in red below $114,000 at the time of writing on Wednesday, following a rejection from its key resistance level earlier this week. Ethereum (ETH) and Ripple (XRP) followed BTC’s footsteps and faced rejection from their critical resistance zones, raising the risk of further declines in the short term. If the 50-day EMA at $113,058 fails to hold as support, BTC closes below the previous all-time high of $111,980 on a daily basis. Then, it could extend the decline to retest its key psychological support at $110,000.
Crypto Market Down: Bonk, Sonic, and Fartcoin lead the losses as downside risk escalates
Bonk edges lower by 2% at press time on Wednesday, extending the 8% drop from the previous day. The meme coin, losing steam, falls below the 50% retracement level at $0.00002350, drawn from $0.00006230 on November 20 to $0.00000886 on April 7. A decisive close below this support level could extend the decline to the 200-day Exponential Moving Average (EMA) at $0.00002134.
TRON Price Forecast: TRX shows strength amid $1.4 billion selloff
TRON (TRX) saw a surge in realized profits on Tuesday after investors booked gains of over $1.4 billion. Despite the strong profit realization, the altcoin held steady as it seeks to flip the $0.33 resistance. TRX saw the largest profit-taking among large-cap cryptocurrencies on Tuesday, with investors booking profits of over $1.4 billion, according to Glassnode data. This marks its second-highest profit event in 2025.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.