Cryptocurrencies Price Prediction: Ethereum, Shiba Inu & Bitcoin – American Wrap 09 August

FXStreet Team FXStreet

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC exudes confidence as ETH and XRP test newly discovered support

Bitcoin price shrugs off resistance, while ETH and XRP are retesting the breakouts. The overall impulsiveness of the rally has not diminished as the three cryptocurrencies are overcoming widespread doubt and concerns.

Shiba Inu price free to pursue 50% rally after SHIB beats pivotal resistance

Shiba Inu price paralyzation from July 22 to August 6 generated a lot of doubt and relative uncertainty. Still, SHIB broke the silence with a 23.30% gain on August 7, claiming the 50-day SMA for the first time since July 7. The development is more than a technical event and has positioned the cryptocurrency for a potentially better outcome if it can reconcile the resistance formed by the upper line of the descending parallel channel.

Ethereum network activity struggles to keep up with bullish bias

Ethereum’s London hard fork revives a bullish bias among retail traders, the altcoin’s price struggles to keep up with the trend. On-chain analysts raise concerns as ETH price hovers around $3000 despite market-wide euphoria. Josh Cincinnati, developer advocate BlockCypher states that ETH supply is now tied to gas demand; therefore, EIP 1559’s implementation does not imply that ETH is now a deflationary asset.

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Dogecoin Price Forecast: Smart money flees DOGE, exposing a 12% downside risk

Dogecoin price hovers around $0.0850 at press time on Monday, keeping steady after a 5% rebound the previous day from the February 6 low at $0.08000. On-chain data show that large-wallet investors with 100 million to 1 billion DOGE have reduced their holdings to a five-month low, providing the downside pressure.

Cardano Price Forecast: ADA downtrend persists as bearish setup caps whale-backed rebound

Cardano remains under pressure, trading below $0.170 on Monday after a massive correction in the previous week. The bearish price action is supported by the uncertainty surrounding Charles Hoskinson’s remarks last week, which weighed heavily on market sentiment.

Crypto Overview: Zcash, Bittensor, and Ethereum stall after a mild rebound

The broader cryptocurrency market shows a stalled rebound after Friday's crash linked to the US Jobs data release. Bitcoin hovers above $63,000 at press time on Monday, while Zcash, Bittensor, and Ethereum emerge as top performers over the last 24 hours.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC under pressure, ETH breaks support, XRP weakens targets $1

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure at the start of this week after losing more than 14%, 15%, and 13%, respectively, in the previous week. BTC struggles below $63,000, ETH loses key support zones, while XRP’s momentum indicators continue to favor further downside.

Bitcoin: After the bloodbath, everyone looks at $60,000

Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.

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