{"id":135737,"date":"2021-08-16T13:50:59","date_gmt":"2021-08-16T13:50:59","guid":{"rendered":"https:\/\/precoinnews.com\/?p=135737"},"modified":"2021-08-16T13:50:59","modified_gmt":"2021-08-16T13:50:59","slug":"bitcoin-ether-major-altcoins-weekly-market-update-august-16-2021","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-ether-major-altcoins-weekly-market-update-august-16-2021\/","title":{"rendered":"Bitcoin, Ether, Major Altcoins &#8211; Weekly Market Update August 16, 2021"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/btcmanager.com\/wp-content\/uploads\/2021\/08\/BTCUSD_2021-08-16_14-09-12-1120x484.png\"><\/p>\n<h2><span><\/span><strong>ETH\/USD<\/strong><span><\/span><\/h2>\n<p>The Ethereum Project token ETH dropped down to $3,010 on Sunday, August 8. The coin experienced its first price pullback since August 3 as the rally started to lose momentum. The leading altcoin and major decentralized application protocol added the stunning 17.7 percent to its valuation on a weekly basis and was already trading above its highest ever monthly candle close.<\/p>\n<p>On Monday, the ether formed the exact same candle, but in the opposite direction, which helped it erase all the losses from the previous session and stabilize around $3,164.<\/p>\n<p>The mentioned level was slowly becoming a major horizontal resistance and on Tuesday bulls failed to break above it for the second time in three days. It is worth noting that the ETH\/USDT pair was extremely volatile, moving up and down the $3,232 &#8211; $3,042 range during intraday.<\/p>\n<p>The third day of the workweek started with a solid upward movement in the morning that pushed the price up to $3,272. The trading volumes and momentum, however, were not strong enough to support a breakout and the coin quickly retraced down to $3,158 in the evening.<\/p>\n<p>On Thursday, August 12, the ETH token fell to $3,040 or 3.4 percent, but just like Bitcoin was able to find support near the weekly open mark.<\/p>\n<p>Bulls could not be intimidated in any way by the short correction and ETH jumped to $3,320 on the next day \u2013 a 9.1 percent increase in just one day.<\/p>\n<p>The first day of the weekend came with a short red candle to $3,263, which was followed by a similar candle, but in the opposite direction on Sunday.<\/p>\n<p>The ether is trading at $3,290 as of the time of writing.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/btcmanager.com\/wp-content\/uploads\/2021\/08\/ETHUSDT_2021-08-16_14-10-02-1120x484.png\"><\/p>\n<h2><span><\/span><strong>Leading Majors<\/strong><span><\/span><\/h2>\n<ul>\n<li><em>Cardano (ADA)<\/em><\/li>\n<\/ul>\n<p>The Cardano developers agreed to set the smart contract launch date to September,12 (the so-called Alonzo smart contract hard fork main net launch) \u2013 an announcement that pushed the price of ADA on track for a new all-time high.<\/p>\n<p>The coin registered six consecutive days in green and by August, 14 already reached $2.25. The coin added 52 percent for the last seven days and moved up to #3 on CoinGecko\u2019s Top 100 list.<\/p>\n<p>We can probably expect a short consolidation in the form of a pullback before the bulls attempt to break the $2.3 mark \u2013 Cardano\u2019s highest ever weekly candle close. If it follows the steps of Ethereum, the growth will continue into September.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/btcmanager.com\/wp-content\/uploads\/2021\/08\/ADAUSDT_2021-08-16_14-10-46-1120x484.png\"><\/p>\n<h2><span><\/span><strong>Altcoin of the Week<\/strong><span><\/span><\/h2>\n<p>Our Altcoin of the week is IoTeX (IOTX). This little-known blockchain-based Internet of Things platform stormed into the Top 100 list thanks to the stunning 273 percent growth registered on a seven-day basis.<\/p>\n<p>The IOTX token is having its best month since its 2019 launch and is now trading approximately 643 percent higher compared to its June 2021 low.<\/p>\n<p>The company reported a 600% growth in wallets and network activity for July and outlined series of product updates, partnerships, and listings in their latest report.<\/p>\n<p>The IOTX\/USDT pair peaked at $0.15, a new all-time high, on June 12 and is currently trading at $0.094 on Binance with a market cap of $920 million.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/btcmanager.com\/wp-content\/uploads\/2021\/08\/IOTXUSDT_2021-08-16_14-11-19-1120x484.png\"><\/p>\n<h3><span><\/span>Related posts:<span><\/span><\/h3>\n<p>Source: <a href=\"https:\/\/btcmanager.com\/bitcoin-ether-major-altcoins-weekly-market-update-august-16-2021\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH\/USD The Ethereum Project token ETH dropped<\/p>\n","protected":false},"author":3,"featured_media":135736,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin, Ether, Major Altcoins - Weekly Market Update August 16, 2021 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/bitcoin-ether-major-altcoins-weekly-market-update-august-16-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin, Ether, Major Altcoins - Weekly Market Update August 16, 2021 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"ETH\/USD The Ethereum Project token ETH dropped\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/bitcoin-ether-major-altcoins-weekly-market-update-august-16-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-16T13:50:59+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/08\/Bitcoin-Ether-Major-Altcoins-Weekly-Market-Update-August-16-2021.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-ether-major-altcoins-weekly-market-update-august-16-2021\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-ether-major-altcoins-weekly-market-update-august-16-2021\/\",\"name\":\"Bitcoin, Ether, Major Altcoins - Weekly Market Update August 16, 2021 - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-08-16T13:50:59+00:00\",\"dateModified\":\"2021-08-16T13:50:59+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-ether-major-altcoins-weekly-market-update-august-16-2021\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/bitcoin-ether-major-altcoins-weekly-market-update-august-16-2021\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-ether-major-altcoins-weekly-market-update-august-16-2021\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Bitcoin, Ether, Major Altcoins &#8211; 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