BTC, ETH and XRP Price Analysis for August 6

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The week­end has start­ed with a neu­tral mood on the cryp­tocur­ren­cy mar­ket as some coins keep ris­ing, while oth­ers have entered the cor­rec­tion zone.

Top coins by CoinMarketCap

BTC/USD

Bit­coin (BTC) stays in the green area, going up by 0.70% over the last 24 hours.

BTC/USD chart by TradingView

On the dai­ly time frame, Bit­coin (BTC) is trad­ing around the $23,000 zone after the false break­out of the sup­port lev­el at $22,401. If bulls can hold the $23,000 mark, there is a chance to see a test of the local resis­tance at $24,280 next week.

Bit­coin is trad­ing at $23,214 at press time.

ETH/USD

Ethereum (ETH) has gained the most val­ue today, ris­ing by almost 2%.

ETH/USD chart by TradingView

From the tech­ni­cal point of view, Ethereum (ETH) is look­ing more bull­ish than Bit­coin (BTC), as the rate of the main alt­coin is approach­ing the resis­tance lev­el at $1,785. Thus, the price is locat­ed above the impor­tant mark of $1,700, con­firm­ing buy­ers’ pres­sure. If noth­ing changes, the break­out may hap­pen with­in the next days.

Ethereum is trad­ing at $1,712 at press time.

XRP/USD

XRP is not an excep­tion to the rule, going up by 0.38%.

XRP/USD chart by TradingView

Despite the rise, XRP has not accu­mu­lat­ed enough pow­er for fur­ther growth. A midterm bull run might only start when the price gets close to the cru­cial mark of $0.40. The low vol­ume also con­firms the cur­rent side­ways trading.

XRP is trad­ing at $0.3740 at press time.

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