Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Litecoin – American Wrap 3 June

FXStreet Team FXStreet

Bitcoin Price Analysis: BTC/USD attempts to regain ground, $10,000 still out of reach – Confluence Detector

BTC/USD attempted a recovery above $9,600 only to slide back to $9,550 by press time. The first digital coin has been moving in a tight range after wild gyrations during the first two days of the week. BTC/USD has lost over 5% in the recent 24 hours; however, it is mostly unchanged since the start of the day. Bitcoin’s market value is registered at $176 billion, while its market share decreased to 65%.

Ethereum Price Analysis: ETH/USD remains on its way to $260 – Confluence Detector

Ethereum has recovered from the massive drop on June 2 and it’s trading at $239 at the time of writing. What are the most important levels for ETH/USD now?

The Technical Confluences Indicator is showing a significant amount of resistance at $239.65, the convergence of the 15-min SMA10, and SMA5.

Litecoin Price Analysis: LTC/USD needs to take out the 50.00 resistance zone

Litecoin has been performing well on Wednesday after the crypto capitulation on Tuesday. On the daily chart below there is a huge confluence level at the 50.00 level.

At the aforementioned level, there is a psychological resistance, historical support, the Fibonacci 38.2% retracement and the 200 Simple Moving Average (SMA). The candle yesterday (Tuesday) looks like it rejected the zone as the highest price point of the day was 49.90.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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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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