Analyzing recent price movements and growth potential for leading cryptocurrencies like Bitcoin, Cardano （ADA）, Avalanche （AVAX）, and Shiba Inu （SHIB）.
Points
- Bitcoin approaches $68,144 resistance, potential to surpass $68,500.
- Cardano （ADA） showing positive sentiment, with potential targets of $0.46 and $0.52.
- Avalanche （AVAX） targeting resistance levels of $29, $34, and $37.
- Shiba Inu （SHIB） poised for larger peaks if price breaks upwards.
The leading cryptocurrency, Bitcoin, recently rose to $68,144 but has not yet reached the $68,500 resistance level. If it succeeds, this could liquidate a significant number of short positions, allowing bulls to take control. Closing above $67,500 will foster optimism for the end of the month and August.
Cardano （ADA） has been showing positive sentiment despite the general market fear and uncertainty. FUD （Fear, Uncertainty, Doubt） has weakened, and sentiment is turning positive. ADA fell below its moving averages on July 25, but with Bitcoin’s recovery, ADA has also turned upward. If the rise continues, the $0.46 and $0.52 levels could be tested by the end of the month.
Avalanche （AVAX）, while facing challenges due to double-digit annual inflation, has been targeting the $29 resistance level again after a recent drop. If AVAX manages to close above $29, new attempts at $34 and $37 are possible. At the time of writing, AVAX’s price is not far from the resistance level, indicating potential for upward movement.
Shiba Inu （SHIB） has been trading between $0.000015 and $0.00002. If the price breaks upwards, larger peaks will be targeted after $0.000026. On the downside, the $0.000013 target is current.
解説
- Resistance Level: A price level at which an asset faces selling pressure, preventing it from rising further.
- FUD （Fear, Uncertainty, Doubt）: Negative sentiment in the market that can cause price declines and panic selling.
- Annual Inflation: The rate at which the price of a cryptocurrency increases over a year, often impacting its purchasing power and investor sentiment.
The current analysis suggests that leading cryptocurrencies are showing potential for growth despite recent market fluctuations. Investors should monitor key resistance levels and market sentiment to make informed decisions. With positive momentum building, the crypto market could see significant gains in the coming weeks.