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BTC, ETH and XRP Price Analysis for July 17

Price Predictions
Sat, 07/17/2021 - 14:53
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Denys Serhiichuk
Can Bitcoin (BTC) fall slower than the other altcoins?
BTC, ETH and XRP Price Analysis for July 17
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 weekend has begun with ongoing bearish pressure as the majority of the coins remain red.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has confirmed the bearish trend, falling by 6.63% over the past week.

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

On the daily chart, Bitcoin (BTC) could not fix above the level of $32,190, which means that the ongoing decline is the more likely scenario at the moment.

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BTC, ETH, XRP, ADA and BNB Price Analysis for July 16

The last support before a potential sharp drop is the zone around $30,000. If bears break it, the price decrease may continue to $24,000.

Bitcoin is trading at $31,396 at press time.

ETH/USD

Ethereum (ETH) is looking worse than Bitcoin (BTC) as its price has gone down by 1.26% since yesterday.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Ethereum (ETH) is trading within the falling channel with no growing signals. The $1,730 level is the last one before the more profound decline to around $1,500. Thus, the selling trading volume is low, which means that there are few buyers who want to buy at the current rate.

Ethereum is trading at $1,867 at press time.

XRP/USD

XRP is the biggest loser from the list, going down by almost 3%.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

XRP made a false breakout of the $0.70 mark, which means that sellers keep dominating the market. Buyers are showing no efforts to restore the price to at least $0.60. In this case, the decrease may continue to the nearest support at $0.505 where bulls may seize the initiative.

XRP is trading at $0.5794 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.