Ethereum, Bitcoin, and Cronos Price Forecast for August 14th
Ethereum (ETH) experienced a 1.7% decline on Wednesday amid reports of low Consumer Price Index (CPI) inflation figures and increasing ETH ETF inflows, suggesting a potential rally on the horizon. Despite these positive indicators, a crucial trendline analysis hints at a possible consolidation phase before a new upward trajectory.
In a separate development, Cronos (CRO) saw a 4% surge in price to $0.093 following the announcement of a partnership between Crypto.com and the UEFA Champions League. This price increase pushed CRO above a descending trendline, indicating a bullish trend in the near future.
Meanwhile, Bitcoin’s (BTC) price exhibited a slight rise during Asian trading hours, nearing the critical resistance level of $62,000. Data from Coinglass revealed a second consecutive day of minor inflows into US-listed Bitcoin Spot ETFs. However, BTC struggled to surpass a key resistance point, with on-chain data pointing to heightened activity in dormant wallets, signaling a potential shift towards a bearish sentiment.
It is important to note that all investment decisions related to cryptocurrencies should be made after thorough research and consideration of the associated risks. The views expressed in this article are not a guarantee of future performance and do not constitute investment advice. The cryptocurrency market remains volatile, and investors should exercise caution and conduct their own due diligence before engaging in any transactions.
