Ethereum, Litecoin & Bitcoin – American Wrap 06 September

Litecoin Price Prediction: The Bullish vs Bearish Scenario

Litecoin price hovers within a descending parallel channel. The 200-week moving average is currently 65% above the current market value. Key levels have been identified for both a bearish and bullish scenario. 

Ethereum Price Prediction: With a 6% move, ETH price eyes $2,000 before the Merge

Ethereum price has formed three bullish daily candles, affirming its micro position before the Merge occurs. The second-largest cryptocurrency toppled from highs marginally above $2,000 around mid-August. Declines were unstoppable until Ether price slowed at $1,427. Although a full recovery remained elusive, ETH is now almost brushing shoulders with $1,700 while bulls push for gains beyond $2,000.

Bitcoin price could revisit $22,000 if this mean reversion play pans out

Bitcoin price has been in a consolidation range for the last nine days and shows no signs of breaking lower or higher. However, the general outlook for BTC is that it needs to collect liquidity before attempting a recovery rally.