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BTC, DOGE and SHIB Price Analysis for July 4

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Mon, 4/07/2022 - 15:41
BTC, DOGE and SHIB Price Analysis for July 4
Cover image via www.tradingview.com

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The first week of July has begun with the rise of the cryptocurrency market as all of the top 10 coins are in the green zone.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has increased by 2.76% over the last 24 hours.

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

Bitcoin (BTC) has continued its local growth after the false breakout of the $19,000 mark. However, the buying trading volume is low, which means that it might not be easy for bulls to keep the rise going.

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BTC, SOL and AVAX Price Analysis for July 2

Thus, the price has not crossed $20,000, which is crucial for a mid-term bull run. All in all, the more likely scenario is sideways trading around $20,000 for the next few days.

Bitcoin is trading at $19,558 at press time.

DOGE/USD

DOGE is the biggest gainer today, going up by 3.52%.

DOGE/USD chart by TradingView
DOGE/USD chart by TradingView

Despite the growth, DOGE has not returned above the $0.07 mark yet, which means it is to early to think about a fast recovery. In addition, the volatility has declined, confirming the fact that the altcoin has not accumulated enough for a growth or decline. Respectively, one should not expect any sharp moves from DOGE in the near future.

DOGE is trading at $0.06737 at press time.

SHIB/USD

SHIB has followed the rise of DOGE, growing by 3.16% since yesterday.

SHIB/USD chart by TradingView
SHIB/USD chart by TradingView

SHIB is trading similar to DOGE as the meme coin is accumulating power after a bounceback. If the price can fix above $0.00001 and return to $0.00001050 shortly, bulls have the chance to seize the initiative and start the mid-term rise.

SHIB is trading at $0.00001016 at press time.

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