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.
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.
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.
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FXStreet Team
FXStreet
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