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BTC, ETH and XRP Price Analysis for July 7

Thu, 07/07/2022 - 15:40
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Denys Serhiichuk
Can Bitcoin (BTC) and XRP follow the sharp rise of Ethereum (ETH)?
BTC, ETH and XRP Price Analysis for July 7
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 cryptocurrency market has continued its growth as most of the top 10 coins are in the green zone. Binance Coin (BNB) is the only exception from the rule, going down by 0.38%.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has grown the least from the list today as the growth has made up 1.56%.

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

Bitcoin (BTC) has kept the growth after yesterday's bullish candle on the daily chart. At the moment, the price is on the way to the $21,000 mark against the low buying volume.

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BTC, ETH, XRP, BNB, ADA, SOL, and AVAX Price Analysis for July 5

If bulls can hold the initiative and nothing crucial changes, there are chances to see the further upward move to the next resistance level at $21,800. Such a scenario is relevant until mid-July.

Bitcoin is trading at $20,879 at press time.

ETH/USD

Ethereum (ETH) is the biggest gainer today, rocketing by 4.79% over the last 24 hours.

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

Ethereum (ETH) has also broken its vital mark of $1,200. However, the trading volume is low, which means that the main altcoin may not have accumulated enough energy for a continued rise. Thus, the price is not far away from the resistance level at $1,281. In this case, one can expect the bears' reaction around the mentiond level.

Ethereum is trading at $1,220 at press time.

XRP/USD

XRP has followed the rise of BTC and ETH, going up by 2.41% since yesterday.

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

On the daily chart, XRP is slightly approaching the level at $0.3355. If the false breakout does not happen and the daily candle closes with no wicks, there is a possibility to see the sharp growth to the $0.35 zone soon.

XRP is trading at $0.3341 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.

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