Crypto Market Summary: Aug 16 – 22
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Last Week Recap
Expectedly, BTC and ETH went into profit taking range after their blistering rallies. Cardana, ADA, shines among the pack with a strong performance. ALICE hit a high of $15 before going into a higher-low consolidation range.
XRP rallied strongly last week to hit a high of $1.35. For traders who took the leap of faith and bought into XRP below $1, a huge congrats.
For this coming week:
- As the SEC vs Ripple lawsuit nears the deadline for fact discovery on Aug 31st, we may expect a stronger news momentum coming this week. Any settlement would create a strong uplift for XRP.
- For the blockchain NFT game – MyNeighborAlice (MNA) – their pre-alpha release is targeted around end of August as mentioned by their team in the last AMA. If this pre-alpha release is impressive, we can expect a huge interest in ALICE token.
- This current rally is missing the highly-leverage component which helped fuel the last rally. This indicates that this rally maybe healthier as investors and traders have more capacity to hodl in the event of another huge crash.
- Watch out for TFUEL.
- We continue to like ALICE, SOL, ADA, ETH.
Crypto is high risk. Trade with what you can afford to lose.
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