Cryptocurrencies Price Prediction: Ethereum, PEPE & FTX – American Wrap 21 November

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Ethereum Price Forecast: ETH open interest surge to all-time high after recent price rally

Ethereum (ETH) is trading near $3,350, experiencing an 10% increase on Thursday. This price surge is attributed to strong bullish sentiment among derivatives traders, driving its open interest above $20 billion for the first time. Additionally, the average blob space per block has exceeded its limit level of 3, indicating that ETH's supply may become deflationary once more.

PEPE Price Forecast: Bulls trigger 16% rally after $175M supply squeeze

Pepe emerged as the best-performing mega cap memecoin on Thursday, breaking past the vital $0.000020 resistance. Technical indicators and current market supply dynamics suggest more upside ahead.

FTX Co-Founder Gary Wang escapes prison sentence in $8 billion fraud case

Gary Wang, co-founder of the cryptocurrency exchange FTX, was sentenced to time served and three years of supervised release on Wednesday for his involvement in a $8 billion fraud scheme. Wang is now the last former FTX employee sentenced related to the exchange's collapse, as reported by CNBC.

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Ripple extends losses as derivatives interest cools

Ripple (XRP) extends its bearish roll near $1.12 support on Friday, reflecting intense headwinds in the broader crypto market largely attributable to macroeconomic pressure.

Crypto Today: Bitcoin, Ethereum, XRP weaken further as capital outflows persist

Macroeconomic headwinds continue to weigh heavily on the cryptocurrency market on Friday, prompting major assets like Bitcoin (BTC) to pare earlier gains and extend losses after June’s brief relief rally.

Bitcoin Weekly Forecast: Recovery hopes fade after the Fed spoils the party

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

Sui risks a deeper bearish leg despite on-chain resilience

Sui is down 2% on Friday, extending its decline toward the recent support leg formed at $0.6618. The Total Value Locked in the Sui ecosystem has stabilized around 600 million SUI tokens, reflecting resilient user demand.

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.