Cryptocurrencies Price Prediction: Bitcoin, Solana and Cardano – European Wrap 19 August
Bitcoin Weekly Forecast: BTC distribution cycle reaches its first target, here's what to expect next
Bitcoin price has kick-started a period of controlled selling and is currently approaching short-term support levels. A minor relief rally might occur – before the next leg down to inefficiencies and liquidity. Investors need to be cautious since the current down move has broken significant levels that could trigger a massive sell-off in the future.
Solana price prediction: SOL price cracks under pressure
Solana (SOL) price action is getting hammered in the ASIA PAC session as support breaks down as a result of inflated tail risks leading to traders reassessing their positions. The Fed’s Jackson Hole Symposium is in the limelight focusing traders on it's so-far hawkish game plan which is a negative environment for cryptocurrencies to rally in, and some geopolitical tensions are flaring up again as Putin and Xi are set to attend the G20 meeting together, with a possible side-meeting expected between the two to discuss Ukraine and Indonesia which could see investors pull their money out crypto into cash. Global cryptocurrencies are taking a step back due to these risks, and this could see SOL price tanking another 28% over the weekend towards the low of 2022.
Cardano price could shed more weight, but panicking investors can exit their positions here
Cardano price has seen three consecutive down candlesticks denoting an aggressive seller-dominated regime. This massive sell-off seems to originate from the influential lead crypto Bitcoin and is affecting many altcoins.
Author
FXStreet Team
FXStreet
