BTC, ETH and XRP Price Prediction for July 8

Denys Serhiichuk

Can Bitcoin (BTC), Ethereum (ETH) or XRP bounce back this week?

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The rates of the coins keep setting new local lows, according to CoinMarketCap.

Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin (BTC) has dropped by 2.71% over the last 24 hours.

Image by TradingView

On the daily chart, the rate of BTC remains rather more bearish than bullish. However, one should pay attention to the nearest resistance level of $56,500.

If the candle closes near it or above, bulls may locally seize the initiative, which can lead to a test of the $57,000 area.

Bitcoin is trading at $56,246 at press time.

ETH/USD

Ethereum (ETH) has followed the drop of BTC, going down by 2.58%.

Image by TradingView

From the technical point of view, the price of ETH is looking more bullish than BTC. If the daily bar closes far from the support of $2,817 and with no long wick, the upward move may continue to $3,100 soon.

Ethereum is trading at $2,984 at press time.

XRP/USD

XRP is not an exception to the rule, falling by 3.27%.

Image by TradingView

On the daily chart, the price of XRP remains bearish until it is below the $0.46 mark. Thus, the volume is low, which means bulls have not accumulated enough energy to seize the initiative.

XRP is trading at $0.4327 at press time.

About the author

Denys Serhiichuk

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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