Cryptocurrencies Price Prediction: Sonic, Bitcoin & Ripple – American Wrap 17 July

FXStreet Team FXStreet

Sonic Price Forecast: Sonic Labs to launch AI platform Spark as S breaks out

Sonic (S) price exhibits a robust bullish structure, trading at $0.37 on Thursday, as altcoins in the broader cryptocurrency market flash early bull run signals. Although Sonic has pulled back slightly from $0.39, its highest level in the past month, it remains resilient. The bullish setup holds as the Layer-1 protocol token stays above two key levels: a recently broken trendline resistance and the demand zone at around $0.36.

Bitcoin (BTC/USD) Elliott Wave: Bullish sequences calling the rally

As our members know, we’ve been long in Bitcoin. The crypto has made a solid rally toward new all-time highs, gaining more than 20% since our entry on the June 22nd. In this technical article, we are going to present short term Elliott Wave forecast of BTCUSD. The crypto shows impulsive bullish structure in the cycle from the 105,141 low, calling for a further strength. In the following text, we will explain the analysis in more detail and present the potential target levels.

Ripple Price Forecast: XRP moves toward new highs as Ripple eyes Middle East's tokenized real estate market

Ripple's (XRP) uptrend paces toward new all-time highs, but is trading at around $3.24 on Thursday, following a remarkable recovery from a support level tested at $2.80 on Tuesday. XRP’s short-term technical structure backs the rally, which closed in on the record high but stalled at $3.29.

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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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