Can the cryptocurrency market remain bullish in early August?

Most coins underwent a corrective period on the last day of the week.


Despite the slight decline, the Bitcoin (BTC) rate has risen by 5.19% over the past 7 days.


TradingView BTC / USD chart

On the weekly chart, Bitcoin (BTC) looks bullish as the rate remains above the $ 23,000 mark. If traders can take the lead, we can expect a continued rise in the $ 25,000 area in the first few days of next month.

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


Ethereum (ETH) also earned more than Bitcoin (BTC) as the rate increased by nearly 8%.


TradingView ETH / USD chart

Ethereum (ETH) continued to rise after the false breakout of the mirror level at $ 1,476. In this case, the most likely scenario is a test of the $ 1,900- $ 2,000 zone in the next few days. Ethereum is trading at $ 1,711 at press time.


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


TradingView XRP / USD chart

XRP is trading close to its resistance level at $ 0.3893 on the weekly chart. If the candle closes above this mark, there is a strong possibility of seeing a strong rally towards the $ 0.40 area soon.

XRP is trading at $ 0.3895 at press time.

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