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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Bitcoin ready for bullish continuation as crypto bull cycle pauses

The cryptocurrency market has taken a hiatus after a gruesome week of overbearing declines. Bitcoin failed to break the resistance at $52,000 but headed south, resting the support at $45,000.

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XLM on the brink of a 45% collapse, shows technicals

Stellar price already had a significant 50% sell-off from its top of $0.60 but the bears could be eying up even more. There is a lot of downside potential for XLM as several indicators show it could be poised for another leg up.

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LTC whales go into a buying spree, eying up $260

Litecoin price remains bounded inside an ascending parallel channel on the 12-hour chart after a significant sell-off from $247 down to $157. It seems that LTC whales have taken advantage of the recent dip to buy even more.

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DEXTF Protocol launches incentivization program on SushiSwap offering 376% APY

DeFi users will be able to generate massive returns as the SushiSwap Onsen protocol is about to offer a new incentivization program developed by DEXTF Protocol. 

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Bitcoin Weekly Forecast: BTC journey to $100,000 might be easier than expected

This past week has been extremely beneficial for Bitcoin which jumped by 30% since Monday 8. Several positive announcements, especially Tesla purchasing $1.5 billion worth of the digital asset propelled the flagship cryptocurrency to new highs.

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