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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XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.

Cardano struggles to extend gains as retail interest wanes despite Midnight's NIGHT token launch

Cardano ticks higher after a bearish weekend, struggling to extend an upcycle within a descending wedge pattern. On-chain data shows an increase in trading volume and user activity after the Midnight side chain token launch.

Crypto Today: Bitcoin, Ethereum recover as XRP remains supported by ETF inflows

Bitcoin is trending up toward the pivotal $90,000 level at the time of writing on Monday, which marks four consecutive days of gains. Altcoins, including Ethereum and Ripple, are also rebounding above key short-term support levels.

Bitcoin nears $90,000 as recovery hopes clash with institutional outflows

Bitcoin is approaching the $90,000 resistance level at the time of writing on Monday, raising hopes of a short-term recovery. However, the bullish recovery is being challenged by weakening institutional demand, as evidenced by outflows from Spot ETFs.

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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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