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Cryptocurrencies Price Prediction: Cardano, Ethereum Classic & Chainlink – American Wrap 07 September

Cryptocurrencies Price Prediction: Cardano, Ethereum Classic & Chainlink – American Wrap 07 September
FXStreet TeamFXStreet TeamFXStreet

Cardano bears initiate takeover as ADA price plummets

As Cardano plunges, founder Charles Hoskinson warns traders of massive FUD leading up to September 12. Cryptocurrency analyst Jason Pizzino predicts that ADA is likely to rally 290% following a five-week cycle theory. Cardano’s upcoming mainnet upgrade is set to make gas fees predictable and relatively cheaper than rival Ethereum. 

Ethereum Classic prices loses support, targeting $60

Ethereum Classic has been in an uptrend since September 1. An ascending trend line is looking for a squeeze to the upside against $78.07. A pop above $80 could push Ethereum Classic price toward $100 within weeks.

Chainlink price dives to $25 as investors panic sell

Chainlink has hit a curb with two levels that seem to be too hard to get through. Sellers look to seize control of Chainlink's price action. Two short-term levels can provide support before opening a downside potential of 20%.

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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.

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Bitcoin Weekly Forecast: Binance security breach and hawkish Fed push BTC lower

Bitcoin Weekly Forecast: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.
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Ripple (XRP) trades around $1.25 on Friday, rising from a short-term support level established at $1.20. This minor upward correction follows a sharp sell-off, triggered amid reports of a hack attack on the Binance exchange that impacted approximately $6.3 billion. The attack drove the broader crypto market on edge, as Binance suspended both deposits and withdrawals to contain the situation.
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Crypto traders betting on higher prices had about $1.29 billion in positions forcibly closed over the past 24 hours, as the selloff following Binance’s security breach pushed bitcoin, ether and smaller tokens lower. Total liquidations reached $1.53 billion by Friday morning in Asia, according to CoinGlass. Long positions, bets that prices would rise, accounted for 83.8% of the total.
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Crypto Today: Bitcoin, Ethereum, XRP sell-off cools after Binance security breach

Cryptocurrency prices are on edge on Friday, with Bitcoin (BTC) delicately holding onto a short-term $78,000 support, Ethereum (ETH) edging lower near $2,200 and Ripple (XRP) attempting a recovery above support established at $1.20. The cooldown follows Binance, the largest crypto exchange, after it reported a hack that impacted about $6.3 billion.
Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.