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BTC, ADA and BNB Price Analysis for August 7

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Sun, 7/08/2022 - 13:25
BTC, ADA and BNB Price Analysis for August 7
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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On the last day of the week, bulls keep controlling the situation on the market.

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Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by almost 3% over the last 7 days.

BTC/USD chart by TradingView

On the weekly chart, Bitcoin (BTC) has bounced off the mirror level at $22,400, confirming buyers' power. If the candle fixes above the $23,000 mark, there is a high chance to see a further rise to the nearest resistance level at $24,280 next week.

Bitcoin is trading at $23,090 at press time.

BNB/USD

Binance Coin (BNB) has gained the most value on the list today, rocketing by 8.39%.

​BNB/USD chart by TradingView

Binance Coin (BNB) has continued the rise after the breakout of the vital $300 mark. At the moment, one needs to pay close attention to the $336 level. If bulls can fix the price above that point, there is a high possibility of a further rise to the $400 zone.

BNB is trading at $316.8 at press time.

ADA/USD

Cardano (ADA) could not show the same performance as BNB, falling by 2% over the last week.

ADA/USD chart by Trading View

Despite the rise, Cardano (ADA) might need more time to get energy for a continued rise. if buyers can hold the rate above the $0.50 mark and the volume rises, one can expect a test of the resistance level at $0.5472 soon.

ADA is trading at $0.5167 at press time.

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