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Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Ripple – Asian Wrap 24 Aug

Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Ripple – Asian Wrap 24 Aug
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Price Analysis: BTC/USD consolidation takes precedence ahead of breakout to $12k

Bitcoin price plunged farther down during the weekend session, testing support at $11,400.  The breakdown was reinforced after short term support at $11,800 failed to hold. In addition, $11,600 did little to halt the losses. Fortunately, a descending channel support came in to rescue the bulls from a would have been devastating slump to $11,000.

Ethereum Price Prediction: ETH/USD on the breakout threshold to $420, these are the levels to watch

Ethereum revisited support at $380 on Saturday following an extended breakdown under $400. The rest of the weekend trading remained mundane with attempts to break above $400 falling short again and again. Ether has already climbed to highs above $390 at the time of writing and trading at $393. The cryptoasset’s immediate upside is limited by a descending trendline resistance.

Ripple Price Analysis: Double top spotted on XRP/USD daily chart

Ripple (XRP/USD) gained more than 2% on Saturday but failed to extend its rebound on Sunday. As of writing, XRP/USD was down 2% on the day at $0.2803 and was losing a little more than 8% since the beginning of the week. On the daily chart, a double top formation has become apparent.

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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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XRP and XLM outlook: Mild recovery attempts emerge amid mixed market signals

XRP and XLM outlook: Mild recovery attempts emerge amid mixed market signals

Ripple and Stellar show mild signs of recovery on Thursday after extending losses earlier this week. XRP is holding above the $1.10 level as bearish momentum begins to fade, while XLM has bounced modestly from a key support zone.

Crypto Overview: Bitcoin consolidates above $60,000  – CRV, WLFI, XMR lead gains

Crypto Overview: Bitcoin consolidates above $60,000  – CRV, WLFI, XMR lead gains

The broader cryptocurrency market maintains risk-off sentiment as Bitcoin lingers above $62,000. The mild recovery in BTC fails to lift the Fear and Greed Index, which at 15 continues to signal extreme fear among investors. Still certain altcoins, Curve DAO, World Liberty Financial, and Monero, have emerged as top performers over the last 24 hours.

Bitcoin faces further downside risk amid growing short-term holder losses, weak ETF demand

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Bitcoin's recent decline toward the $60,000 level has pushed the market further into bearish territory, with new investors suffering huge unrealized losses, according to a Glassnode report on Wednesday. The firm noted that Bitcoin's earlier May rally now appears increasingly as a "bear bounce".

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Bitcoin: After the bloodbath, everyone looks at $60,000

Bitcoin: After the bloodbath, everyone looks at $60,000

Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.