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Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Akropolis – American Wrap 5 August

Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Akropolis – American Wrap 5 August
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Price Analysis: BTC/USD resumes the recovery, $12,000 back in focus

Bitcoin extended the recovery and hit the intraday high of  $11,617, At the time of writing, BTC/USD is changing hands at $11,570 with over 3.5% gains since the start of the day. The local support is now created by the upper line of the 1-hour Bollinger Band at $11,500. If the upside momentum is sustained, BTC/USD may increase to $12,000. This psychological barrier may slow down the bullish trend and trigger the correction towards the above-said BB. If it is broken, the sell-off may be extended to $11,350, reinforced by 1-hour SMA100. 

Ethereum Technical Analysis: ETH/USD experiences two quick $400 fakeouts, bulls still in control

Ethereum is currently trading at $396.61 after two rejections from $400. Fortunately for the bulls, neither rejection got any significant bearish continuation which means they are still in full control. 

Akropolis Technical Analysis: AKRO/USD explodes 60% towards $0.036

Akropolis has been riding the daily 12-EMA for basically a month. AKRO is trading inside a healthy and sturdy daily uptrend and has exploded in the last 24 hours cracking $0.03 after a massive 60% price surge.

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