Cryptocurrencies Price Prediction: Ethereum, SafeMoon & Bitcoin – American Wrap 20 July

FXStreet Team FXStreet

Three reasons why Ethereum could rally to $2,000

Ethereum price touched the rally’s 61.8% retracement level and the June 26 low today before catching a soft bounce. The test of the formidable support aligned around $1,700 combined with an emerging overbought condition on a lower timeframe does project a bounce for ETH that may extend to $2,000 or more.

SafeMoon Price Forecast: SAFEMOON has no shelter, bound for a 30% drop

SafeMoon price has been coiling in a descending triangle formation since the May crash, with no high probability opportunities or upside momentum, reflecting a complete evacuation of investor interest. As descending triangles reflect a bearish bias among speculators, the outlook is tilted to the downside for the short-term.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets bleed as bulls prepare for final comeback

Bitcoin price has been on a steady downtrend since June 15, with an intermediate pump that peaked on June 29. As the descent progresses, BTC approaches a crucial support level that could be swept before kick-starting an upswing. Ethereum and Ripple have both followed the big crypto’s lead, but XRP price seems to have already triggered its upswing.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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