Bitcoin
BTC$43 085.96

-1.06%

Ethereum
ETH$2 995.89

-2.88%

Cardano
ADA$2.19

-2.78%

Tether
USDT$1.000508

-0.01%

Binance Coin
BNB$341.32

-2.13%

XRP
XRP$0.937804

-0.90%

Bitcoin and Ethereum hit resistance with $42.5K flip needed for BTC longs


09 Aug 2021   #Bitcoin

Bitcoin (BTC) and Ether (ETH) are due for a “huge” move, but short-term signals suggest a correction, an analyst warned on Friday. Data from Cointelegraph Markets Pro and TradingView showed both BTC/USD and ETH/USD acting near critical range resistance as the week drew to a close. A late surge the day before punctuated an overall downtrend after swift upside throughout the previous week, but Friday reinforced the idea that longer-term resistance would remain in place. In his latest video update, Cointelegraph contributor Michaël van de Poppe highlighted an area above $42,500 as necessary to reclaim in order to seek long BTC positions.

“I refuse to become bullish on Bitcoin at this stage unless we are able to flip this level for support,” he said. “If we have a breakout like this in which we rally towards $45,000 and flip this zone, then, of course, I’m going to look for longs, but right now, in this structure, I’m not interested at all.” A similar story held true for ETH/USD, also at resistance, with little evidence that the buzz around the London hard fork would spark a definitive change in the longer-term paradigm. Others were slightly more optimistic, with fellow trader and analyst Rekt Capital arguing that Bitcoin was doing “everything right” in order to ditch its previous price range in place since May.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 78.8% 36 $43 085.96 -1.06% -0.99% $811 219 237 866 $31 154 347 636
2 Ethereum (ETH) ETH Ethereum predictions 73.2% 51 $2 995.89 -2.88% -0.73% $352 615 203 825 $19 398 346 385
3 Cardano (ADA) ADA Cardano predictions 63.2% 75 $2.19 -2.78% 4.85% $70 222 973 640 $3 116 899 060
4 Tether (USDT) USDT Tether predictions 92.8% 1 $1.000508 -0.01% 0.06% $68 577 822 872 $71 068 899 614
5 Binance Coin (BNB) BNB Binance Coin predictions 65.2% 65 $341.32 -2.13% -7.03% $57 388 122 424 $1 555 748 368
6 XRP (XRP) XRP XRP predictions 72.8% 49 $0.937804 -0.90% 1.05% $43 811 978 119 $3 027 320 393
7 Solana (SOL) SOL Solana predictions 67.6% 66 $140.97 2.76% 1.92% $41 927 787 826 $2 899 305 540
8 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $1.000382 0.02% 0.01% $31 131 613 966 $3 198 579 010
9 Polkadot (DOT) DOT Polkadot predictions 68.8% 69 $28.28 -3.69% -2.07% $27 931 334 671 $1 725 163 950
10 Dogecoin (DOGE) DOGE Dogecoin predictions 66.8% 70 $0.203144 -1.88% -4.12% $26 705 464 939 $865 252 649
11 Terra (LUNA) LUNA Terra predictions 68% 60 $38.33 7.47% 37.20% $15 331 923 428 $1 698 547 134
12 Avalanche (AVAX) AVAX Avalanche predictions 60.4% 84 $68.09 0.67% 14.92% $14 998 801 484 $1 254 781 240
13 UniSwap (UNI) UNI UniSwap predictions 67.6% 70 $22.95 -6.14% 7.70% $14 034 322 529 $1 164 508 712
14 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $1.000300 0.02% 0.02% $13 519 244 531 $5 111 421 269
15 Chainlink (LINK) LINK Chainlink predictions 64.8% 70 $23.60 -5.17% -1.55% $10 736 258 209 $1 106 679 987

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