Price analysis 8/17: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

2022.08.18 07:02

Price analysis 8/17: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

Bitcoin’s (BTC) bounce fizzled out near $24,500 on Aug. 17, indicating that the recovery still faces stiff resistance from the bears. On-chain monitoring resource Material Indicators said the ask liquidity on the Fire Charts was similar to prior local tops.

Another reason for caution among crypto investors was that the recovery in the in the near term. Jurrien Timmer, director of global macro at asset manager Fidelity Investments, said that 88% of stocks in the S&P 500 were trading above their 50-day moving average, which was “stunning.”

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