Cryptocurrencies Price Prediction: Tezos, Cardano and Avalanche – European Wrap 11 August
|Is Tezos price action set to flip 180 degrees north?
Tezos (XTZ) price is bouncing on the euphoria of Wednesday when US CPI dropped below estimates and came out lower-than-expected, which for once means good news. It suggests that households will see their living costs stabilising a bit after a steep decline lasting six months. Although this number is very supportive and has seen XTZ price rally 8% thus far, one Dovish Fed member said that the Bank is not done with raising rates at all and still needs to keep hiking them at an excruciating pace, which could spell trouble ahead for cryptocurrency traders if they do not watch out.
Why Cardano price is primed for a massive rally according to this analyst
Cardano developers anticipate massive network changes as a result of the upcoming Vasil hard fork. Analysts at Messari have adopted a bullish outlook on Cardano as a result of hard fork upgrade as well as its expanding ecosystem.
Here’s how you can squeeze more gains from the next AVAX price move
AVAX price embarked on an impressive rally on August 2 and reached its forecasted destination on August 8. Interestingly, this target is a massive resistance level that is likely to test bulls’ grit. Investors need to be patient and take into consideration the reaction of Avalanche bulls to this hurdle when making their next move.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.