Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Akropolis – American Wrap 5 August

FXStreet Team FXStreet

Bitcoin Price Analysis: BTC/USD resumes the recovery, $12,000 back in focus

Bitcoin extended the recovery and hit the intraday high of $11,617, At the time of writing, BTC/USD is changing hands at $11,570 with over 3.5% gains since the start of the day. The local support is now created by the upper line of the 1-hour Bollinger Band at $11,500. If the upside momentum is sustained, BTC/USD may increase to $12,000. This psychological barrier may slow down the bullish trend and trigger the correction towards the above-said BB. If it is broken, the sell-off may be extended to $11,350, reinforced by 1-hour SMA100.

Ethereum Technical Analysis: ETH/USD experiences two quick $400 fakeouts, bulls still in control

Ethereum is currently trading at $396.61 after two rejections from $400. Fortunately for the bulls, neither rejection got any significant bearish continuation which means they are still in full control.

Akropolis Technical Analysis: AKRO/USD explodes 60% towards $0.036

Akropolis has been riding the daily 12-EMA for basically a month. AKRO is trading inside a healthy and sturdy daily uptrend and has exploded in the last 24 hours cracking $0.03 after a massive 60% price surge.

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XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.

Cardano struggles to extend gains as retail interest wanes despite Midnight's NIGHT token launch

Cardano ticks higher after a bearish weekend, struggling to extend an upcycle within a descending wedge pattern. On-chain data shows an increase in trading volume and user activity after the Midnight side chain token launch.

Crypto Today: Bitcoin, Ethereum recover as XRP remains supported by ETF inflows

Bitcoin is trending up toward the pivotal $90,000 level at the time of writing on Monday, which marks four consecutive days of gains. Altcoins, including Ethereum and Ripple, are also rebounding above key short-term support levels.

Bitcoin nears $90,000 as recovery hopes clash with institutional outflows

Bitcoin is approaching the $90,000 resistance level at the time of writing on Monday, raising hopes of a short-term recovery. However, the bullish recovery is being challenged by weakening institutional demand, as evidenced by outflows from Spot ETFs.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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