Cryptocurrencies price prediction: Bitcoin, Monero & Ethereum - 2 August


Bitcoin market update: BTC/USD bulls defiantly push towards $11,000

The cryptocurrency market stays in the green as week’s trading grinds to a halt. After opening the week amid negative volatility, Bitcoin buyers focused on higher levels. The phenomenon recovery gave Bitcoin a kick above the 50 Simple Moving Average (SMA) 1-hour chart and later the 100 SMA 1-hour.

Overcoming the hurdle at $9,800 allowed Bitcoin to set eyes on $10,000 and higher levels. The price action progressed above $10,200 before tackling $10,500 resistance. At the moment, $10,600 remains unconquered.

Bitcoin

Monero price analysis: XMR/USD bulls fight to hold onto the intraday gains

Monero is in the green amid a sea of red. The cryptocurrency market is making a correction after formidable gains on Friday during the Asian hours. Like Bitcoin which soared above $10,500, Monero made a shallow rise from the opening price at $82.36 to a high at $84.33. Monero is among the few digital currencies that are holding on to the intraday gains.

At the time of writing, Monero is teetering at $83.52 following a 1.3% rise on the day. Glancing north, the immediate resistance is at the 50% Fibonacci retracement level taken between the last swing high at $98.35 to a swing low of $72.01. Correction above the 50 Simple Moving Average (SMA) will pave the way for gains towards $100.

Monero

Ethereum price analysis: ETH/USD end week surge settles above $220

Ethereum embarked on an impeccable journey of breaking barriers on Friday. Following the extreme selling extravaganza last week, ETH/USD found support at $197. This gave way for a rebound above $200 and later retraced past the 61.8% Fibonacci retracement level taken between the last swing high of $225.84 to a swing low of $197.63.

After reclaiming the support at $220, Ethereum bulls gave the price a push to the intraday highs around $222.85. At press time, ETH/USD is struggling to hold above the critical $220. The prevailing trend is gradually turning bearish especially with the Relative Strength Index (RSI) having hit the overbought region. Retreat from the levels above 70 will encourage the bears to increase their grip.

Ethereum

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Editors’ Picks

BTC/USD: Sellers continue to lurk above $11,800, $12K still on cards?

Bitcoin consolidates the rebound on Sunday before the next leg higher. A test of $12K mark remains inevitable amid a potential symmetrical triangle. Upside remains more compelling, in light of a bunch of healthy support levels.

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LINK/USD consolidates the 52% surge to record highs of $13.66

Massive short-squeeze sent ChainLink skyrocketing on Saturday. The explosion higher lifted LINK/USD to the sixth most dominant crypto asset. Bulls take a breather after the extensive rally, what’ next?

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ETC/USD storms towards $7.20 after symmetrical triangle breakout

The pullback in Ethereum Classic (ETC/USD) from $6.8844 appears to have gathered steam this Sunday, as the coin sees a rapid rise to the intraday highs above $7.15. The coin charts symmetrical triangle breakout on hourly sticks.

More Ethereum Classic News

Top 3 Price Prediction BTC, ETH, XRP: Crypto bears dominate, Ripple breaches $0.29

Ethereum is the main laggard among the top three cryptocurrencies on Sunday. Ripple breaches $0.2900 after rejection just below $0.30. Bitcoin continues to keep its range below the critical barrier at $11,817,

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast

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