Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Avalanche — Asian Wrap 16 January

FXStreet Team FXStreet

Ethereum short traders could profit on one condition ahead of ETH Shanghai upgrade

Ethereum, the second-largest cryptocurrency by market capitalization, yielded 21% gains over the past week. Experts argue that bulls are close to exhaustion, and traders with short positions could profit ahead of the Shanghai upgrade.

El Salvador congress approves digital securities law to raise funds for Bitcoin City

El Salvador, a country located in Central America is working on raising funds for the development of a Bitcoin City. The country passed a law allowing Bitcoin bond issuance, underpinning the sale of the first ever sovereign Bitcoin bond.

AVAX price rally comes to a grinding halt despite Amazon partnership and addition of USP stablecoin

AVAX was chosen by Amazon Web Services (AWS) to develop blockchain solutions for enterprises and governments. AVAX is now an AWS partner and fully supports the smart contract’s infrastructure and dApp ecosystem. AVAX, the smart contract network, witnessed two bullish catalysts over the past week

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FXStreet Team

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Aave Price Forecast: AAVE surges as capital flows return to DeFi

Aave (AAVE) extends its rally, trading above $81 on Thursday after closing above its key resistance and surging more than 10% the previous day. The bullish move is supported by improving on-chain metrics, with USDT deposits flowing back into the protocol and strengthening its lending ecosystem.

Crypto Market Overview: Bitcoin tests $60,000 as whales sell off – Aave and Jupiter show resilience

The broader cryptocurrency market remains under intense selling pressure, with Bitcoin back at $60,000 for the third time this year. On-chain data shows selling pressure from large-wallet investors, commonly referred to as whales, while total liquidations hit nearly $1 billion in 24 hours.

XRP Price Forecast: Ripple and SBI Group partner to launch RLUSD in Japan

Ripple remains under pressure, trading at $1.06 after losing nearly 5% so far this week. Ripple and SBI Group partnered to launch RLUSD stablecoin in Japan following approval from the Japan Financial Services Agency on Thursday, but the move failed to lift sentiment.

Ethereum Price Forecast: ETH could see a 30% decline if history repeats

Ethereum (ETH) has fallen toward the $1,600 level, down over 3% on Wednesday as risk-off signs persist across key onchain metrics. The ETH Realized Price Lower Band, which has historically marked bear market bottoms for the top altcoin, suggests ETH has room for further downside before staging a proper upward move.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.