Price analysis 8/17: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX
Cointelegraph
Published Aug 17, 2022 02:42PM ET
Updated Aug 17, 2022 04:40PM ET
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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Written By: Cointelegraph
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