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BTC, ETH, XRP, ADA and BNB Price Analysis for August 3

Wed, 08/03/2022 - 15:50
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Denys Serhiichuk
How long can today's growth last?
BTC, ETH, XRP, ADA and BNB Price Analysis for August 3
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The cryptocurrency market has started to rise after a few days of correction, turning most of the coins back into the green zone.

Top coins by CoinMarketCap


The rate of Bitcoin (BTC) has risen by 1.35% over the last day.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) has bounced off the $23,000 mark once again, which means that bulls are not ready to give up so easily. At the moment, the price is stuck in a narrow range against a declining volume. However, if buyers can come back to the $24,000 zone, the rise may continue to $25,000 until the end of the month.

Bitcoin is trading at $23,285 at press time.


Ethereum (ETH) is gaining more than Bitcoin (BTC), going up by 1.66%.

ETH/USD chart by TradingView

From the technical point of view, Ethereum (ETH) is trading similar to BTC as bulls can hold the $1,600 mark. Despite today's rise, the leading altcoin might not have accumulated enough power for a further mid-term rise.

Ethereum (ETH) Price Analysis for August 2

In this case, sideways trading in the range of $1,600-$1,700 is the more likely scenario for the next days.

Ethereum is trading at $1,657 at press time.


XRP is an exception to the rule, with a price change of -0.19%.

XRP/USD chart by TradingView

XRP is neither bullish nor bearish as the altcoin has not gathered enough strength yet. A further rise is possible only if the price fixes above the important mark of $0.40. The low volume also confirms the weakness of buyers and sellers.

XRP is trading at $0.3720 at press time.


Binance Coin (BNB) is the biggest gainer from the list today, rocketing by 4.21%.

BNB/USD chart by TradingView

Binance coin (BNB) is again on the way to testing the $300 mark after a false breakout of $280. If buyers can hold the initiative until the end of the day, there are high chances to see a rise to the $320 zone shortly.

Binance Coin is trading at $294.9 at press time.


Cardano (ADA) could not show such a rise as BNB, going up by only 1.88%.

ADA/USD chart by Trading View

Despite such a slight rise, Cardano (ADA) was able to break the $0.50 mark and is currently trading above it. If the daily candle closes above that mark, the upward move may continue to the nearest resistance level at $0.5457.

ADA is trading at $0.5085 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