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BTC, ADA, and DOT Price Analysis for July 2

Price Predictions
Fri, 07/02/2021 - 11:28
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Denys Serhiichuk
Are there any altcoins that can grow when Bitcoin (BTC) goes down?
BTC, ADA, and DOT Price Analysis for July 2
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The fall of the cryptocurrency market has continued today as all top 10 coins remain in the red list.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, the bears pushed through the lower border of the side channel ($34,000) and the price rolled back to the level of $33,000. During the day, the selling pressure eased and the pair moved sideways, and at the end of the day the price marked the daily low at $32,700.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Buyers tried to bring the price back into the channel last night, but its lower border turned the price down. In the near future, the pair might test the level of $32,500.

Related
BTC, ETH, and XRP Price Analysis for July 1

At the moment trading volumes are below average, so one believes that the weak support at $32,000 may keep the price consolidated. However, if the sales volumes start to grow, the pair can continue to decline to the $30,595 level.

Bitcoin is trading at $32,940 at press time.

ADA/USD

Cardano (ADA) has also followed the decline of the first crypto going down by 1.36%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) might continue its fall as there was no reaction after a false breakout. Thus, the trading volume is going down which means that nobody wants to buy back the altcoin at the moment. In this case, the test of the liquidity level at $1.21 is possible soon.

ADA is trading at $1.2957 at press time.

DOT/USD

Polakdot (DOT) is the biggest loser from the list, declining by 3.63% since yesterday.

DOT/USD chart byTradingView
DOT/USD chart byTradingView

Polakdot (DOT) is following the Cardano's price action as it is about to test the support at $13.59 for the second time which means that there are high chances to break it. If that happens, the next level where bulls may seize the initiative is the vital level of $10.

DOT is trading at $14.77 at press time.

 
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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.