Cryptocurrencies Price Prediction: Bitcoin, Fartcoin & Ethereum — Asian Wrap 13 August
|Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC and XRP stabilize, ETH nears all-time high
Bitcoin price faced resistance around its key psychological level barrier at $120,000 on Monday and declined slightly. However, it reattempted to close above this resistance the next day but failed again. At the time of writing on Wednesday, it hovers below around $119,500. If BTC closes above the $120,000 psychological level on a daily basis, it could extend the rally toward its record high of $123,218. If a successful close above this level occurs, BTC would enter price discovery mode with bulls targeting the psychological level of $125,000.
Crypto Gainers: Fartcoin, Chainlink, Solana surge as Scott Bessent urges 50bps rate cut
Fartcoin edges higher by 1% at press time on Tuesday, extending the 19% jump from the previous day. The Solana-based meme coin reclaims the $1.000 psychological level and the 61.8% Fibonacci level at $1.005, which is drawn from the $2.740 high on January 19 to the $0.198 low on March 10. To reinforce an uptrend, FARTCOIN should surpass the $1.085 level to outgrow the bearish engulfing candle formed on Monday. This could extend the rally to the 78.6% Fibonacci level at $1.562.
Ethereum saw $152.72 million in futures liquidations over the past 24 hours, per Coinglass data. The total amount of long and short liquidations is $37.38 million and $115.35 million, respectively. ETH is testing the $4,500 resistance after rising more than 20% over the past week to break out of the consolidation phase of a bullish pennant. The top altcoin could stretch its rally to set a new all-time high above $5,000 if it completes the pennant's target, obtained by measuring the height of the pole and projecting it upward from a breakout point.
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