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BTC, BNB and ADA Price Analysis for July 3

Sun, 07/03/2022 - 18:30
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Denys Serhiichuk
Do bulls have any chances to seize the initiative against bears' pressure?
BTC, BNB and ADA Price Analysis for July 3
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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Bears seized the initiative on the last day of the week, turning all of the top 10 coins back to the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by 11.21% over the last seven days.

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

On the weekly chart, Bitcoin (BTC) is about to close below the previous low at $19,616. Thus, the selling volume remains high, confirming bears' power.

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

If nothing changes by the end of the day and the price stays below the $19,000 mark, there are chances to see a test of the nearest support level at $17,592 next week.

Bitcoin is trading at $18.981 at press time.

BNB/USD

Binance Coin (BNB) has fallen the least today as the drop has made up 0.49%.

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

Binance Coin (BNB) is looking better than Bitcoin (BTC) on the weekly time frame as the price has not updated the recently formed support level at $205. From another point of view, the native exchange coin has not accumulated enough energy for a rise, which means that sideways trading between $210 and $240 is the more likely scenario for the upcoming days.

BNB is trading at $214.7 at press time.

ADA/USD

Cardano (ADA) is the biggest loser today, as the price has gone down by 12.85% for the week.

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

Cardano (ADA) is following the fall of Bitcoin (BTC) as it is on the way to the support level at $0.3974. From the technical point of view, the altcoin has accumulated enough strength for a continued fall, so one can expect a drop below $0.40 soon.

ADA is trading at $0.4444 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.