Tezos, Cardano and Avalanche – European Wrap 11 August

Tezos (XTZ) price is bouncing on the euphoria of Wednesday when US CPI dropped below estimates and came out lower-than-expected, which for once means good news. It suggests that households will see their living costs stabilising a bit after a steep decline lasting six months. Although this number is very supportive and has seen XTZ price rally 8% thus far, one Dovish Fed member said that the Bank is not done with raising rates at all and still needs to keep hiking them at an excruciating pace, which could spell trouble ahead for cryptocurrency traders if they do not watch out.

Cardano developers anticipate massive network changes as a result of the upcoming Vasil hard fork. Analysts at Messari have adopted a bullish outlook on Cardano as a result of hard fork upgrade as well as its expanding ecosystem. 


ADA-USDT price chart

AVAX price embarked on an impressive rally on August 2 and reached its forecasted destination on August 8. Interestingly, this target is a massive resistance level that is likely to test bulls’ grit. Investors need to be patient and take into consideration the reaction of Avalanche bulls to this hurdle when making their next move.

AVAX/USDT 1-day chart





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