Cryptocurrencies Price Prediction: Bitcoin, Litecoin & Aave – European Wrap 12 December
Bitcoin Weekly Forecast: 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. BTC price action approaches a key descending trendline that could determine its next directional move. Meanwhile, institutional flows into Spot Bitcoin Exchange-Traded Funds (ETFs) showed mild inflows, and Strategy Inc. added more BTC to its treasury reserve.
Litecoin Price Forecast: LTC struggles to extend gains, bullish bets at risk
Litecoin (LTC) price steadies above $80 at press time on Friday, following a reversal from the $87 resistance level on Wednesday. Derivatives data suggests a bullish positional buildup while the LTC futures Open Interest declines, flashing a long squeeze risk. Litecoin’s struggle to exceed $87 could result in a pullback below $80 within a broader descending wedge pattern.
Aave Price Forecast: AAVE primed for breakout as bullish signals strengthen
Aave (AAVE) price is trading above $204 at the time of writing on Friday and approaching the upper boundary of its descending parallel channel; a breakout from this structure would favor the bulls. Moreover, on-chain and derivatives data also support bullish sentiment, while the pattern’s technical target suggests a rally above $296.
Author
FXStreet Team
FXStreet
