🚀 Crypto Bulls Charge: Bitcoin Eyes New Highs as Ethereum & Fartcoin Ride the Wave – Asia Market Wrap Aug 15
Crypto markets flex bullish momentum as Asia’s trading session kicks off. Bitcoin claws toward resistance levels, while Ethereum and the meme-fueled Fartcoin show surprising resilience. Here’s the breakdown.
Bitcoin: The OG crypto tests key psychological barriers—traders hold their breath for a breakout or a classic ‘buy the rumor, sell the news’ reversal. Meanwhile, institutional whales keep stacking sats like there’s no tomorrow (or maybe they just know something we don’t).
Ethereum: Smart contract giant shrugs off gas fee gripes, with DeFi degens still front-running each other into congestion. ETH 2.0 promises remain the blockchain equivalent of ‘my check’s in the mail.’
Fartcoin: The token that smells like a joke but trades like a blue chip—because nothing says ‘sound investment’ like a crypto named after flatulence. Yet here we are, watching it pump while ‘serious’ altcoins flatline.
Closing thought: In a market where fundamentals often lose to memes, maybe the real utility was the hopium we inhaled along the way. Bonus jab: Wall Street still can’t decide if crypto’s a scam or the greatest missed opportunity since not buying Amazon in 1997—so they’ll probably regulate both into oblivion.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC steadies after record high, ETH and XRP eye rebound
Bitcoin (BTC), ethereum (ETH), and Ripple (XRP) stabilized around their key support levels on Friday after dipping 4%, 4.26%, and 5.96%, respectively, the previous day. This price pullback in the top 3 cryptocurrencies came in after the US Producer Price Index (PPI) data was released by the Bureau of Labor Statistics (BLS) on Thursday. The PPI figures significantly exceeded economists’ expectations, suggesting that inflation is gradually escalating in the US, which has caused a risk-off sentiment in the market.
Crypto Market Down: FARTCOIN, VIRTUAL, TIA post double-digit losses amid $1B liquidation
Fartcoin edges higher by 2% at press time on Friday after a 12.36% loss on the previous day. The Solana-based meme coin holds above the 200-day Exponential Moving Average (EMA) at $0.9656, struggling to crawl above the 61.8% Fibonacci level at $1.0055, which is drawn from the $2.7400 peak on January 19 to the $0.1986 on March 10. A decisive close above this could reignite recovery in the Fartcoin, potentially testing the 50-day EMA at $1.1266. The declining average line risks a death cross with the 100-day EMA, which WOULD signal a short-term trend more bearish than the longer-term trend.
Ethereum Price Forecast: Surge in validator exits and strong PPI inflation reading sparks correction
Ethereum (ETH) dropped by 5% on Thursday following an increase in the amount of coins exiting validator duties and a hot July Producer Price Index (PPI) reading in the US. Ethereum validator exit queue spiked to over 727,000 ETH worth over $3.2 billion on Thursday with a waiting time of about twelve days, less than 24 hours after the top altcoin approached its all-time high, according to data from Beaconcha.in.
