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Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Bitcoin Cash – Asian Wrap 06 Aug

Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Bitcoin Cash – Asian Wrap 06 Aug
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Price Forecast: BTC/USD withdraws from the $11,800 level

BTC/USD faced bearish correction following a heavily bullish Wednesday. The price has dropped a bit from $11,755.34 to $11,750.65. As per the daily confluence detector, there is one strong resistance and support level at $12,225 and $10,900, respectively.

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Ethereum Price Prediction: ETH/USD spirals under $400

Ethereum has spent most of the time this week trying to bring down the resistance at $400. There have been instances where the crypto has made it above this seller congestion zone, however, buyers never managed to sustain gains above $415.

BItcoin Cash community experiences turmoil, BCH/USD consolidated below $300

BCH/USD took control of the market, tracking down the price form $293.91 to $291.70. It looks like the price is currently consolidating below the $300-level. The MACD shows that the market momentum is going to reverse from bullish to bearish. 

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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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Ripple tumbles as sell-side pressure intensifies

Ripple tumbles as sell-side pressure intensifies

Ripple edges lower and trades at $1.45 on Wednesday, as headwinds intensify across the crypto market. Major crypto assets remain in bearish hands, with Bitcoin falling below $84,000 and Ethereum below $2,800.

Crypto Today: Bitcoin, Ethereum and XRP fall liquidating $550M

Crypto Today: Bitcoin, Ethereum and XRP fall liquidating $550M

Bitcoin’s correction follows a recent rejection due to supply around $87,200. Altcoins are generally in a correction trend, as Ethereum edges lower toward the next key support at $2,600 and Ripple extends its down leg near the $1.45 demand area.

Polygon extends decline as shutdown rumors fuel panic selling

Polygon extends decline as shutdown rumors fuel panic selling

Polygon is down nearly 5% on Wednesday, amid selling pressure linked to rumors of a network shutdown sparked by a social media post. Derivatives data shows a sell-side dominance as Open Interest declines 13% over the last 24 hours while funding rates flip negative.

Pi Network Price Forecast: Steady decline risks a lower leg below $0.080

Pi Network Price Forecast: Steady decline risks a lower leg below $0.080

Pi Network (PI) continues to extend a bearish phase over the last seven days, risking a breakout below the $0.0800 round figure. The social chatter surrounding the PI token is on the rise, likely driven by investors’ fear.

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin (BTC) extends its gains, trading near $86,000 at the time of writing on Friday after closing September 6.33% up, reversing its seasonal weakness. Historical data suggest October could be a strong month for BTC, especially after a positive September.