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Cryptocurrencies Price Prediction: Bitcoin, Ethereum Classic and Ethereum – European Wrap 3 August

Cryptocurrencies Price Prediction: Bitcoin, Ethereum Classic and Ethereum – European Wrap 3 August
FXStreet TeamFXStreet TeamFXStreet

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: One more leg up is on the horizon for crypto markets but..

Bitcoin price has shown resilience to sellers as buyers stepped in after retesting a historically strong support level. This development has caused Ethereum, Ripple and other altcoins to trigger a premature rally. 

BTC/USD 4-hour chart

What continues to drive the Ethereum Classic price rally?

Ethereum Classic price appears to be going against the grain of widespread market sentiment that it is primed for a significant correction by rising 6.5% in the last 24 hours. The bullish trend began on June 18 but took a breather on July 29. As reported last week, miners moving from Ethereum to Ethereum Classic ahead of the former’s transition from the proof-of-work (PoW) to a proof-of-stake (PoS) consensus, aka ‘the merge’ were the primary drivers of the rally.

Ethereum Classic price

Ethereum Price Prediction: An honest rally or long squeeze in the making?

Ethereum price shows signs of a premature rally, but if bulls are serious about this move, it could result in a breakout from a significant resistance level and a massive rally.

ETH/USD  4-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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