Crypto

Will the cryptocurrency market be able to remain bullish in the early days of August? | Cryptocurrency

Most of the coins faced a correction period on the last day of the week.

Bitcoin/US dollar

Despite a slight drop, the Bitcoin (BTC) price has risen by 5.19% over the past 7 days.

BTCUSD

BTC/USD Chart by TradingView

On the weekly chart, Bitcoin (BTC) looks bullish as the price remains above the $23,000 mark. If traders can take the initiative, we can expect a continuation of the rise to the $25,000 level in the first few days of next month.

This scenario is relevant until mid-August. Bitcoin is trading at $23,710 at press time.

Ether/US dollar

Ethereum (ETH) has risen even more than Bitcoin (BTC) as the price rose by almost 8%.

Ethereum

ETH/USD Chart by TradingView

Ethereum (ETH) continued to rise after a false breakout of the mirror level at $1,476. In this case, the most likely scenario is a test of the $1900-$2000 zone in the coming days. Ethereum is trading at $1,711 at press time.

XRP/USD

XRP shows the same growth as Ethereum (ETH), up to 8%.

XRP

XRP/USD Chart by TradingView

XRP is trading near the resistance level at $0.3893 on the weekly chart. If the candlestick closes above this mark, there is a strong possibility of a sharp rise towards the $0.40 area soon.

XRP is trading at $0.3895 at press time.

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