Cryptocurrencies Price Prediction: Bitcoin, Bitcoin Cash & Litecoin – European Wrap 4 May


Bitcoin Price Prediction: BTC/USD nosedives towards $8,500 – Confluence Detector

Bitcoin price failed to make a comeback into the $9,000’s range over the weekend. The stability followed an incredible bullish action on Thursday last week that saw the price high new April highs at $9,466. The bullish action was, however, met by increased selling activity and coupled with the high volatility in the market, pulled Bitcoin into a reversal action, the extent of testing new support at $8,400. A minor recovery ensued but Bitcoin stalled under $9,000.

fxsoriginal

Bitcoin Cash Price Analysis: BCH/USD freefalls to $235

Bitcoin Cash extended the bearish action on Monday below the $240 support. A low was formed at $235, marking the end of the intraday bearish action. BCH/USD has corrected upwards to trade at $241. However, it is still far from the intraday high achieved at $252. With entire cryptocurrency market clouded by a bearish wave, BCH could retest the short support but no rapid price movements are expected in the near term especially with the volatility shrinking.


BCH/USD price chart

Litecoin Price Analysis: LTC/USD may retreat to $45.00 before the recovery resumes

Litecoin topped at $50.96 on April 30 and slipped back below $50.00 as the upside momentum faded away during the weekend. At the time of writing, LTC/USD is changing hands at $45.83, down over 5% in the recent 24 hours. Litecoin now takes seventh place in the global cryptocurrency market rating with the market capitalization $3 billion and an average daily trading volume of $4.4 billion.

 

Litecoin

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Biden's win of the US presidential election could have different effects on Bitcoin and DeFi

The presidential elections in the United States are just around the corner. While it is still hard to tell for sure who will secure the place in an Oval Cabinet, the most recent poll results show that Joe Biden, the Democratic presidential nominee, is leading the race. 

More Cryptocurrencies News

XTZ aiming for a 10% price jump if key support is defended

The past week for Tezos hasn’t been great, the digital asset lost around $300 million in market capitalization as Bitcoin continues gaining dominance over the market.

More Tezos News

TRX ready for a major price explosion according to indicators

Tron has been trading inside a tight range from $0.028 to $0.0239 for the past three weeks without a clear direction. Several indicators show that TRX is on the verge of a massive breakout, but in which direction?

More Tron News

Bitcoin leads the pack aiming for new yearly highs

The cryptocurrency market is slugging in recovery, accept for Bitcoin. Intense pressure continues to build on critical levels for major cryptocurrencies. 

More Bitcoin News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin: BTC ready to escape from the range; bulls have $12,000 in mind

Bitcoin has been gaining ground amid positive fundamental developments. The flagship cryptocurrency is ready to break free from its current range and proceed with the recovery towards $12,000. 

Read the weekly forecast

BTC

ETH

XRP