Cryptocurrencies Price Prediction: Polygon, VeChain and Bitcoin – European Wrap 17 August

FXStreet Team FXStreet

MATIC Price Prediction: Polygon needs to correct before shooting 70% higher

Although Polygon (MATIC) made a new high yesterday for this summer, it does not tell a compelling story for the days to come. Price got rejected at $1.57 and is forming a double top with the high on June 17. Buyers got tempted to take some profit around this level, causing a short-term correction and making other buyers take the money and run. For now, the low of August 15 is holding as near-term support at $1.36, but it is just a matter of time before sellers take over.

VeChain Price Prediction: VET might retrace 18% before establishing new uptrend

VeChain price is hovering just below a crucial resistance level after its recent run-up. Due to the lethargic nature of the cryptocurrency market, VET might retrace before heading on a new uptrend.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets weigh new leg-up or deep correction

Bitcoin price is hovering above a crucial demand barrier, which could propel it higher, but investors need to watch for a spike in selling pressure that pierces the said support zone, leading to a break below it.

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FXStreet Team

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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.