Bitcoin and altcoins, which had a calm last week, entered the last corner of July with a decline. In this article, we will examine the technical view of Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH) cryptocurrencies.
Bitcoin (BTC)
Bitcoin, which jumped from 25 thousand dollars to 30 thousand in mid-June, has been showing a horizontal trend for a while. However, the leading cryptocurrency has been hovering a lot at the bottom of the channel in recent days. While some of the investors see this as a buying opportunity, the other side is worried.
Bitcoin / Dollar chart.Bitcoin, which has been trading in the range of $ 31,275-$ 29,700 for a full month, is currently at $ 29,779. According to the bottom/top analysis of the 4-hour chart, BTC price is showing a bearish trend with lower lows and highs.
BTC has lost 0.99% since the start of the day.
Ethereum (ETH)
Ethereum, the largest altcoin by market capitalization after BTC, also started the day negative. The increase in Bitcoin dominance is having a negative impact on the ETH coin.
Ethereum / Dollar chart.ETH, the smart contract platform’s altcoin, fell after failing to break the $1,913 resistance last week. As of now, Ethereum is finding buyers with a tag of $ 1,870. The bottom/top data reveals that the downtrend may continue if ETH does not exceed the mentioned level.
ETH fell 0.97% in the first hours of the week.
Ripple (XRP)
Ripple, which took off after the decision of Judge Torres in the SEC case, started to decline slowly, although it kept its profits for a while.
Ripple / Dollar chart.XRP could sell up to $0.56 if it loses the $0.72 intermediate support it formed last week. The cryptocurrency currently finds buyers around $0.725.
XRP fell 1.84% in the first hours of the week.
Last Week’s Top Rising Altcoins!
The cryptocurrency market had a quiet second week of July. While the price of Bitcoin, Ethereum and Ripple remained calm, some altcoins came to the fore. According to CoinGecko data, the highest rising altcoins of the previous week are as follows:
- XDC Network (XDC): 50%
- Kaspa (KAS): 17.97%
- Chainlink (LINK): 15.92%
- Casper (CSPR): 9.95%
- Maker (MKR): 9.95%
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