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