Cryptocurrencies Price Prediction: Ethereum, Cardano & Binance Coin – American Wrap 19 October

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Ethereum Price Prediction: Network activity signals red days ahead

Ethereum price displays concerning on-chain metrics that investors should be aware of. According to Santiment’s 30-Day Active Addresses Indicator, more than 750,000 addresses have become active in October. Statistically, whenever the indicator begins ramping higher, a sharp correction in price occurs shortly after.

Cardano price action making a new year low is a clear and present danger

Cardano price action is the canary in the coal mine, with an overall drop of over 5% this week after hopes of a turnaround quickly faded. The early recovery was led by strong earnings out of the US from, mainly, banks but the release of UK inflation this morning, which pointed to another record high, undid early gains. With political unrest not easing in the UK, the economy looks to be on the brink of collapse as every move is only making things worse and Truss is on the ropes after just a few weeks as PM.

Why another freefall in Binance Coin price will not come as a surprise

Binance Coin price may have eased off the selling pressure after bouncing off support at $260, but investors seem skeptical that this will translate into an uptrend. Its technical outlook appears shaky, forecasting another correction to $226.

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FXStreet Team

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Mixed signals leave XRP and XLM at crossroads

Ripple and Stellar are trading at critical technical levels on Thursday. XRP has stabilized above the psychological $1.00 support, while XLM is testing support at $0.173. Traders should be cautious as mixed derivatives metrics keep the outlook uncertain for both altcoins. Derivatives data shows mixed sentiment among traders. CoinGlass’ long-to-short ratio for XRP reads 1.02 on Thursday.

Robinhood revenue climbs 32% to record $1.3B in Q2, crypto earnings decline 38%

Robinhood hit record revenue for the second quarter of the year, with total net revenue rising 32% year-over-year to $1.31 billion, according to its earnings report on Wednesday. The exchange witnessed strong growth across equities, options and event contracts.

Bitcoin trails US Dollar as Fed holds rate steady

The Federal Reserve kept its benchmark interest rate unchanged at 3.50% to 3.75% at its July meeting on Wednesday, in line with market expectations. Minutes from the meeting showed that economic activity has been expanding at a solid pace despite elevated uncertainty. The central bank also noted that job gains have "kept pace with the workforce."

Ethereum: Can Fed decision unsettle the calmness in ETH?

Ethereum climbed above $1,900 on Wednesday following the Federal Open Market Committee's (FOMC) decision to leave interest rates unchanged at 3.50-3.75%. The decision follows a quiet derivatives and spot market for the top altcoin, with traders waiting for the decision before making a move, according to CryptoQuant analysts.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.