TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Cryptocurrencies price prediction: Bitcoin, Ripple & Ethereum- 6 August

Cryptocurrencies price prediction: Bitcoin, Ripple & Ethereum- 6 August
FXStreet TeamFXStreet TeamFXStreet

Bitcoin market update: BTC/USD double-bottom pattern propels price past $12,200

Bitcoin skyrocketed to new monthly highs during the European session on Tuesday. Piercing $12,000 is strikingly impressive for an asset that plunged to lows close to $9,000 last month. The reliable support above $9,000 continues to give Bitcoin price strong legs to sit on.

In July the $9,000 support area tested twice. A formed double-bottom pattern gave the bullish momentum a mega boost first above $10,000 and later $11,000. The tight grip by the bulls saw Bitcoin price step above $11,500, which later saw the price action above the critical $12,000 level. Glancing higher, Bitcoin squeezed through $12,000 for the first time in August.


Bitcoin

Ripple price analysis: XRP/USD back inside the range after a volatile session

Ripple's XRP crashed from the intraday high of $0.3246 to as low as $0.3144 in a matter of minutes amid a massive wave of bearish sentiments that flooded the cryptocurrency market. RP/USD is changing hands at $0.3174 at the time of writing, monthly unchanged on a day-on-day basis.

Ripple's technical picture

On the intraday charts, XRP/USD is locked in a tight range limited by $0.3200 on the upside and $0.3100 on the downside. An unsuccessful attempt to clear the upper boundary of the channel, created an additional bearish impulse for the coin. 

Ripple

Ethereum price analysis: ETH/USD squeezes through $230 the second time in 2 days

Ethereum is said to be breaking away from the altcoins to become an independent cryptocurrency like Bitcoin. However, at the moment the second largest crypto is still reacting to Bitcoin price actions. For instance, as Bitcoin pierced $12,000 today, Ethereum price zoomed above $230 resistance.

The hourly chart places Ethereum at above the moving averages where the 50 Simple Moving Average offers support at $227.78 while the 100 SMA at $224.50 (slightly below the trendline support). In the event of a reversal from the current market value at $233.94, other key support areas traders can lookout for range from $220, $210 and the major support at $200.

Ethereum

Author

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.

More from FXStreet Team
Share:

Editor's Picks

Ethereum Price Forecast: Whales absorb retail distribution as bear market nears late stage​

Ethereum Price Forecast: Whales absorb retail distribution as bear market nears late stage​

Ethereum (ETH) large holders have been accumulating the supply of retail investors in 2026. In a report released late Wednesday, CryptoQuant analysts highlighted that the supply of the 1K-10K ETH cohort has fallen from 15.6 million ETH in January to roughly 12.9 million ETH.
Hyperliquid reports strong Q2 growth despite revenue decline

Hyperliquid reports strong Q2 growth despite revenue decline

Hyperliquid Research Collective (HRC) reported on Thursday broad growth across Hyperliquid's key operating metrics in Q2 despite a decline in revenue, as adoption of its HIP-3 ecosystem and HYPE token continued to accelerate. The firm noted that holder revenue declined 4.7% QoQ to $142.88 million, while protocol revenue fell 6.6% to $169.37 million, according to a Thursday report.
Dogecoin Price Forecast: DOGE sell-off seems unstoppable despite renewed retail interest

Dogecoin Price Forecast: DOGE sell-off seems unstoppable despite renewed retail interest

Dogecoin (DOGE) is trading under dominant selling pressure on Thursday, hovering below $0.0700, a recent support-turned-resistance level. The meme coin has shed 3% of its value in the first week of August, against a backdrop of heavier selling pressure in previous months since May highs around $0.1186.
XRP nears key support despite multi-signature upgrade proposal

XRP nears key support despite multi-signature upgrade proposal

Ripple (XRP) remains pressured, trading below $1.05 at the time of writing on Thursday. The token has declined for the fourth consecutive day this week, reflecting lethargic sentiment in the broader cryptocurrency market despite the possibility of easing geopolitical tensions in the Middle East.
Bitcoin: Bulls hold the line

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.