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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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Kraken’s parent plans regulated US perpetual futures on Hyperliquid

Kraken’s parent plans regulated US perpetual futures on Hyperliquid

Hyperliquid has named Payward, the parent company of crypto exchange Kraken, as its intended first Commodity Futures Trading Commission-regulated deployer on HIP-3 markets. In an X post on Monday, Hyperliquid stated that Payward plans to use its infrastructure to deploy perpetual futures markets for US customers. The proposed arrangement remains subject to regulatory approval.

Pi Network Price Forecast: PI stalls as weak crypto sentiment caps recovery

Pi Network Price Forecast: PI stalls as weak crypto sentiment caps recovery

Pi Network holds steady above $0.0760 stalling after a roughly 2% rebound the previous day. The broader market's weak sentiment and reduced trading volume weigh on the PI token. The technical outlook is bearish, with price capped below a long-term resistance trendline and weak momentum.

Ripple and Stellar outlook: XRP and XLM remain under pressure as bearish momentum persists

Ripple and Stellar outlook: XRP and XLM remain under pressure as bearish momentum persists

Ripple and Stellar continue to remain under pressure, trading below $1.30 and $0.169 respectively, after a mild recovery the previous day. Both XRP and XLM remain below their key Exponential Moving Averages, indicating bearish price action. Moreover, mixed derivatives metrics and cautious on-chain data are capping sustained recovery in XRP and XLM.

Ripple secures OCC approval for National Trust Bank

Ripple secures OCC approval for National Trust Bank

Brad Garlinghouse, CEO of Ripple, announced in an X post on Monday that the Office of the Comptroller of the Currency (OCC) has granted final approval to charter Ripple National Trust Bank (RNTB). The federally supervised national bank demonstrates Ripple's progress toward building digital asset infrastructure within a regulated financial system.
Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.