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Cryptocurrencies Price Prediction: Aptos, Cryptos & Cardano– American Wrap 7 February

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: When all signs point north

The Crypto market continues to show bullish signals. Still, a trade-per-trade stance is being implemented as markets are highly elevated since January's 40% rally.
tm/btc/2/7/22

Aptos (APT) price is pushing on the red descending trend line to trigger a breakout trade with a rally toward $20.36. The move is an outlier as the downtrend since the beginning of February has not finished one day in the green. The risk of a dead cat bounce is massive as US Fed Chair Jerome Powell is due to speak, and near the US closing bell US president Biden is set to give his annual State of the Union address.

APT/USD daily chart
Cardano (ADA) traders need to face reality as markets are pivoting back toward a sticky inflation story, which contradicts the Goldilocks story that was the driving force in January. Confirmation came overnight with the Australian Central Bank (RBA) offering up a surprise hike of 25 basis points and guiding markets that more hikes are coming. Traders should brace for a possible halt or even hike of global inflation as the main driver in the decline of inflation, energy prices, is starting to stabilize.
ADA/USD daily chart

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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 Top 3 Price Prediction: BTC consolidates gains, ETH defends support, XRP nears breakout trigger

Bitcoin, Ethereum and Ripple begin the week on a constructive note as the top three cryptocurrencies attempt to extend rebounds after recovering nearly 4%, 2% and 2.6%, respectively. BTC steadies around $65,600, ETH continues to hold firmly above the key $1,700 support, while XRP nears the upper boundary of the falling channel pattern.

Ethereum Price Forecast: ETH struggles below $1,700 amid subdued on-chain users and capital outflows

Ethereum rises, albeit gradually, toward $1,700. The smart contract token reflects a marginal increase in buyers seeking to re-engage at lower price levels, following the massive drawdown from mid-May, which was largely driven by geopolitical tensions in the Middle East and macroeconomic uncertainty.

XRP clings to support as derivatives interest cools

Ripple hangs on to $1.14 support, extending its rebound from its early-week support at $1.10 and June’s low of $1.05. Maintaining this short-term support level is vital for the remittance token to preserve its bullish momentum, with a decisive breakout above $1.20 likely to signal further upside potential.

Crypto Today: Bitcoin, Ethereum, XRP recovery slows amid incessant capital outflows
The cryptocurrency remains in a broader corrective bias on Friday, despite majors such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) holding slightly higher than early-week support levels. Bitcoin hovers around $63,500 amid a capped upside. Ethereum eyes a breakout past $1,700, while XRP hovers above $1.40.
Experts agree: Bitcoin nears bottom, but weak demand raises doubts
Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.