Price Predictions of Major Cryptocurrencies.
The post Price Predictions of Major Cryptocurrencies. appeared on BitcoinEthereumNews.com. Key points: Bitcoin remains stuck in a narrow range, suggesting a breakout could be around the corner. The FOMC minutes and Federal Reserve interest rate decision could set the tone for crypto’s next steps. Bitcoin (BTC) continues to trade near the $120,000 resistance, indicating that the bulls have kept up the pressure. Although Bitcoin is on a strong wicket, the up move may face seasonal headwinds. According to Axel Adler Jr., BTC has recorded an average return of just 2.56% in August in the past 13 years. However, near-term uncertainty or August’s historical weakness has not stopped Strategy from buying more BTC. The firm said on Tuesday that it had acquired 21,021 BTC at an average price of $117,256, boosting its total holding to 628,791 BTC. Crypto market data daily view. Source: Coin360 As BTC consolidates, Ether (ETH) and BNB (BNB) have been gaining ground. Glassnode said in a post on X that ETH’s perpetual futures volume dominance has surpassed BTC, marking the “largest volume skew” on record. The “shift confirms a meaningful rotation of speculative interest toward the altcoin sector,” the analytics platform added. Could BTC break out of its range? Will select altcoins continue their bull run? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price prediction BTC continues to trade inside a tight range between $115,000 and $120,000. The longer the price stays inside a narrow range, the larger the eventual breakout from it. BTC/USDT daily chart. Source: Cointelegraph/TradingView The upsloping 20-day simple moving average ($118,313) and the relative strength index (RSI) in the positive territory indicate that the path of least resistance is to the upside. If buyers drive the price above $120,000, the BTC/USDT pair could pick up momentum and surge to a new all-time high above $123,218. The pair…
The post Price Predictions of Major Cryptocurrencies. appeared on BitcoinEthereumNews.com.
Key points: Bitcoin remains stuck in a narrow range, suggesting a breakout could be around the corner. The FOMC minutes and Federal Reserve interest rate decision could set the tone for crypto’s next steps. Bitcoin (BTC) continues to trade near the $120,000 resistance, indicating that the bulls have kept up the pressure. Although Bitcoin is on a strong wicket, the up move may face seasonal headwinds. According to Axel Adler Jr., BTC has recorded an average return of just 2.56% in August in the past 13 years. However, near-term uncertainty or August’s historical weakness has not stopped Strategy from buying more BTC. The firm said on Tuesday that it had acquired 21,021 BTC at an average price of $117,256, boosting its total holding to 628,791 BTC. Crypto market data daily view. Source: Coin360 As BTC consolidates, Ether (ETH) and BNB (BNB) have been gaining ground. Glassnode said in a post on X that ETH’s perpetual futures volume dominance has surpassed BTC, marking the “largest volume skew” on record. The “shift confirms a meaningful rotation of speculative interest toward the altcoin sector,” the analytics platform added. Could BTC break out of its range? Will select altcoins continue their bull run? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price prediction BTC continues to trade inside a tight range between $115,000 and $120,000. The longer the price stays inside a narrow range, the larger the eventual breakout from it. BTC/USDT daily chart. Source: Cointelegraph/TradingView The upsloping 20-day simple moving average ($118,313) and the relative strength index (RSI) in the positive territory indicate that the path of least resistance is to the upside. If buyers drive the price above $120,000, the BTC/USDT pair could pick up momentum and surge to a new all-time high above $123,218. The pair…
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