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BTC, XRP and ADA Price Analysis for July 9

Price Predictions
Fri, 07/09/2021 - 13:58
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Denys Serhiichuk
Can Bitcoin (BTC) keep rising faster than XRP and Cardano (ADA)?
BTC, XRP and ADA Price Analysis for July 9
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 last working day of the week is neither bullish nor bearish for the cryptocurrency market as some coins are in the green zone, while others remain in the red.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, bears intensified the onslaught, and the price of Bitcoin (BTC) rolled back to the support of $32,500. During the day, sellers tried to pierce this weak support several times. The daily minimum was set around $32,100, but the decline has not yet been continued.

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

The support at $32,500 stopped the fall and the pair is consolidating in a narrow sideways range.

Related
BTC, ETH, and LTC Price Analysis for July 8

If buyers are unable to seize the initiative today and form a false bullish impulse in the resistance area around $36,000, then by the end of the week the pair may roll back to the $30,595 level.

Bitcoin is trading at $33,400 at press time.

XRP/USD

Yesterday, the XRP price continued to decline and, at the end of the day, it reached the support of $0.60. The bears pierced this support tonight, marking a minimum at the point of $0.592 but, in the morning, the price bounced to the area of the $0.620 mark.

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

During the day, buyers may try to continue the recovery. But if the volumes are low, then they may not be able to return to the average price area. There is a high probability of a continuation of the rollback and the renewal of the July low in the area of $0.56-$0.55.

XRP is trading at $0.6282 at press time.

ADA/USD

Cardano (ADA) is the least gainer from the list as its rate has risen by only 0.51% since yesterday.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Even though Cardano (ADA) has shown the least growth, it has successfully bounced off the support at $1.27, having confirmed the bulls' pressure. If the trading volume increases, there is a good chance of seeing a test of the resistance at $1.47 soon.

ADA is trading at $1.35 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.