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Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Cardano – European Wrap 12 August

Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Cardano – European Wrap 12 August
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Weekly Forecast: Can BTC ruin the Merge for ETH?

Bitcoin price is undergoing a massive rejection at a crucial hurdle for the second time, suggesting the possibility of a reversal. A further look into a lower time frame reveals that this bearish outlook could be possible under certain conditions.

BTC/USDT 1-day chart

How high could Ethereum price go with Triple Halving

Ethereum Merge is going live sooner than the community expected. Core developers of the Ethereum Foundation announced a tentative Merge date as September 15. Ethereum’s successful transition to proof-of-stake is expected to lead to a drop in ETH supply of – according to some estimates – between 80-90% as a result of a mass burn following Merge, in effect causing what amounts to a ‘triple halving’. This is expected to push the ETH price substantially higher.

 
ETH-USD 1-week price chart

Cardano price to retrace as bulls fail to tame the bears

Cardano price has attempted and failed to overcome a crucial resistance level thrice over the last month. This failed attempt is likely to see a potential downswing if ADA bulls fail to keep up. 

ADA/USDT 6-hour 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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Bitcoin Weekly Forecast: BTC retreats as macro headwinds grow

Bitcoin Weekly Forecast: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.
XRP falls toward key support as macro uncertainty, weak momentum cap recovery

XRP falls toward key support as macro uncertainty, weak momentum cap recovery

Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.
Crypto Today: Bitcoin, Ethereum, XRP stabilize at lower levels amid ETF outflows and macroeconomic risks

Crypto Today: Bitcoin, Ethereum, XRP stabilize at lower levels amid ETF outflows and macroeconomic risks

The broader cryptocurrency market is rising on Friday, with Bitcoin (BTC) trading above $77,000 after testing lower support near $76,500. Ethereum (ETH) shows signs of stability, hovering above the support provided at $2,400 despite capped upside at $2,500. Meanwhile, Ripple (XRP) holds above $1.33 after three straight days of declines, reflecting growing headwinds due to macroeconomic uncertainty.
Bitcoin pulls back as another golden cross fails to deliver

Bitcoin pulls back as another golden cross fails to deliver

Earlier this week, Bitcoin formed a golden cross, a technical signal that occurs when the price’s 50-day moving average rises above the 200-day moving average and is conventionally viewed as a precursor to a bullish rally. Historically, however, that’s often not been the case.
Bitcoin: BTC retreats as macro headwinds grow

Bitcoin: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.