Price Analysis of BTC, ETH, XRP, BCH, and DOGE for July 10
The majority of the coins in the cryptocurrency market experienced a slight correction at the start of the week, according to CoinMarketCap. Bitcoin (BTC) saw a decline of 0.22% over the last 24 hours. However, on the daily chart, the price of Bitcoin is showing signs of accumulating energy, although it is still far from resistance levels. If buyers can push the price of Bitcoin back to the $31,000 zone, it may see a breakout and move towards the $32,000 zone. As of now, Bitcoin is trading at $30,270.
Ethereum (ETH), on the other hand, experienced a gain of 0.08% despite Bitcoin’s decline. Technically, Ethereum is on track to reach the resistance level at $1,877, and if it continues to rise towards that mark, it may experience a price surge to the $1,900 area. Currently, Ethereum is trading at $1,868.
XRP saw a gain of 0.50% since yesterday, performing better than both Ethereum and Bitcoin. However, XRP’s rate has not accumulated enough strength for significant growth, as indicated by the falling volume. If the bar closes near the $0.48 mark, there is a possibility of a rise and a test of the $0.50 zone. At present, XRP is trading at $0.4710.
Bitcoin Cash (BCH) saw the most significant gain today, with an increase of over 3%. However, the daily chart suggests that BCH is not ready for a sharp rise as it lacks sufficient energy. To see a significant increase, the rate would need to return to the $300 zone and fix above it, potentially leading to a resistance breakout and a move towards the $340 area. Bitcoin Cash is currently trading at $275.
Dogecoin (DOGE) experienced a decline of 1.36%. The volatility on the daily chart is decreasing, indicating that DOGE may require more time to trade sideways. Therefore, a consolidation around the $0.065 mark is the more likely scenario in the coming days. DOGE is currently trading at $0.06467.