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Cryptocurrencies Price Prediction: Solana, Bitcoin & Pyth Network — Asian Wrap 29 August

Cryptocurrencies Price Prediction: Solana, Bitcoin & Pyth Network — Asian Wrap 29 August
FXStreet TeamFXStreet TeamFXStreet

Solana surges on record derivatives interest, $400M treasury, and USDC boost

Solana (SOL) upholds the recovery run above the $200 psychological level on Friday as record-high open interest sparks bullish sentiment. Even the institutional interest in high-performance blockchain continues to increase, underpinned by Sharp's $400 million Solana treasury and the $750 million USDC minted by Circle. 

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP steadies after recent sell-off 

Bitcoin price found rejection from a previously broken trendline on Saturday and declined by more than 5% until Monday, closing below its 100-day Exponential Moving Average (EMA) at $110,883. However, BTC recovered slightly on Tuesday and found support around this level for the next two days. At the time of writing on Friday, it trades around $111,400. If the 100-day EMA at $110,883 continues to hold as support, BTC could extend the recovery toward its next daily resistance at $116,000.

Crypto Gainers: Pyth Network rallies with live US GDP data on-chain, Pump.fun, and POL follow

Pyth Network, the on-chain price layer, grabs the broader cryptocurrency market’s attention as the US GDP data goes live on-chain. Howard Lutnick, the US Secretary of Commerce, announced the shift to blockchain for transparency, showcasing strong economic confidence with a 3.3% rise in US GDP. 

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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XRP slides amid a fragile crypto market structure

XRP slides amid a fragile crypto market structure

Ripple (XRP) falls for the second straight day, trading at $1.37 on Thursday. The broader cryptocurrency market remains fragile as investors weigh the impact of geopolitical tensions in the Middle East, which triggered persistent increases in Crude Oil prices while restricting shipping through the Straight of Hormuz and the Red Sea.
Bitcoin Price Forecast: BTC pressured amid ETF outflows, fresh US-Iran risks

Bitcoin Price Forecast: BTC pressured amid ETF outflows, fresh US-Iran risks

Bitcoin (BTC) remains under pressure, trading below $78,200 at the time of writing on Thursday after declining nearly 3% so far this week. Weakening institutional demand, along with escalating geopolitical tensions between the US and Iran near the Strait of Hormuz, continues to dampen risk appetite and weigh on the Crypto King. Institutional demand for Bitcoin shows early signs of caution.
Top Altcoins Price Forecast: Ripple, Solana, and Cardano risk deeper losses

Top Altcoins Price Forecast: Ripple, Solana, and Cardano risk deeper losses

Ripple (XRP), Solana (SOL), and Cardano (ADA) struggle to extend last month's advance, pointing to moderating buying pressure. The technical outlook for XRP, SOL, and ADA suggests a mild near-term bearish bias as momentum weakens. Ripple trades around $1.3800 at press time on Thursday, extending losses after a bearish close the previous day.
Crypto Today: Bitcoin, Ethereum and XRP lose bullish momentum as structural support holds

Crypto Today: Bitcoin, Ethereum and XRP lose bullish momentum as structural support holds

Cryptocurrency prices are moderating on Thursday, with Bitcoin (BTC) dropping to test the near-term $78,000 support. Altcoins, including Ethereum (ETH) and Ripple (XRP), are echoing Bitcoin’s cautious sentiment, with ETH retracing to approximately $2,470 and XRP to $1.38.
Bitcoin: Gearing up for a sharp move

Bitcoin: Gearing up for a sharp move

Bitcoin (BTC) is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC Exchange Traded Funds (ETFs) on track to record a third straight week of inflows.