Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Tron – American Wrap Aug 17
|BTC/USD above $12,000 after an initial rejection
The $12,000 level has been a tough resistance point similar to what happened months ago with $10K. In fact, it has been worse due to significant liquidations happening above the resistance level creating massive wicks to the upside and downside in mere minutes. This latest attempt to crack $12,000 has a lot of trading volume but investors are not confident just yet. We would need to see Bitcoin trading above $12,000 for a few hours and then see continuation to really confirm the breakout.
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Ethereum Technical Analysis: ETH/USD comfortably trading above $400 waiting for the next leg up
Ethereum is in a healthy and sturdy bull run. The rally is robust because bulls have been able to establish clear levels of support on the way up. Ideally, a good rally should have periods of consolidation and sideways trading before going up more.
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Tron Technical Analysis: TRX/USD follows the market with another 7% breakout above $0.03
Tron is currently trading at $$0.0306 with a lot of bullish momentum behind it. Bears are struggling to find anything after an entire week of gains for Tron. The increase in trading volume has been significant but many indicators are now heavily overextended.
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