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Cryptocurrencies Price Prediction: Celsius, Crypto & Altcoins – European Wrap 17 July

Cryptocurrencies Price Prediction: Celsius, Crypto & Altcoins – European Wrap 17 July
FXStreet TeamFXStreet TeamFXStreet

Celsius liquidates nearly $25 million in crypto after SEC charges lender and former CEO for fraud

Bankrupt crypto lender Celsius Network started liquidating some of its assets on Monday after receiving authorization from the bankruptcy court as the US Securities and Exchange Commission (SEC) has charged the entity and its former CEO Alex Mashinsky for violation of federal securities laws.

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Crypto market is making an intraday pullback within uptrend

The Crypto market is making a corrective intraday pullback after we spotted an intraday five-wave impulse into first wave 1. We have seen some intraday jump last week, but it immediately turned down, so on the intraday basis it can be still trading in an a-b-c flat correction within wave 2, where subwave »c« can retest 1.11T support before a bullish continuation towards the April highs for wave 3 of a five-wave bullish cycle.

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Altcoins take the lead in cryptocurrency momentum

The Crypto market cap rose 3.6% for the week to $1.21 trillion, according to CoinMarketCap. The Cryptocurrency Fear and Greed Index lost 2 points for the week to 54 (neutral). Bitcoin’s price has been virtually unchanged, and Ethereum gained 4%. Growth was driven by XPR (+60%), Solana (+32%) and several other altcoins backed by Ripple's case against the SEC. 

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