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BTC, BNB, ADA and MATIC Price Analysis for July 1

Fri, 07/01/2022 - 16:19
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Denys Serhiichuk
How great are the chances to see a bullish market in July?
BTC, BNB, ADA and MATIC Price Analysis for July 1
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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July has started with the bounceback of the cryptocurrency market, as all of the top 10 coins are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has begun the new month with a slight rise, increasing by 1.63%.

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

Despite the slight growth, Bitcoin (BTC) remains trading below the vital $20,000 mark. Thus, the selling volume is high, so there are still chances to see a further drop. If bulls can return the rate above the $20,000 zone, BTC might enter a short-term bull run.

Bitcoin is trading at $19,431 at press time.

BNB/USD

Binance Coin (BNB) has gained more than BTC, growing by 2%.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Even though yesterday's candle closed bullish, the native exchange coin could not show a significant rise today. The fall has continued after a false breakout of the $220 mark. In this case, sellers may have accumulated enough power for a further drop. Respectively, BNB might again test $220 soon.

BNB is trading at $214.7 at press time.

ADA/USD

Cardano (ADA) has grown the least today, as the upward move has accounted for only 0.60%.

ADA/USD chart by Trading View
ADA/USD chart by Trading View

Cardano (ADA) remains weak as it is approaching the $0.44 mark again. If the daily candle closes near it or below, bulls might not be able to stop the test of the support level at $0.3974. In addition, ADA is looking worse than most other coins on the market.

ADA is trading at $0.4451 at press time.

MATIC/USD

MATIC is the biggest gainer, rising by more than 3% since yesterday.

MATIC/USD chart by TradingView
MATIC/USD chart by TradingView

Despite the rise, MATIC could not return to $0.50 but made a false breakout. If bulls cannot hold the initiative by the end of the day, the altcoin might test yesterday's low at $0.4180 by the end of the week.

MATIC is trading at $0.4525 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.