The leading cryptocurrency rose to $68,144 but has not yet reached the $68,500 resistance. If it succeeds, it could liquidate a significant amount of short positions, allowing bulls to take revenge. On the other hand, closing above $67,500 will foster optimism for the end of the month and August.
Cardano (ADA) Prediction
August is approaching, and cryptocurrency investors did not have a good July. We will see the Fed’s July interest rate decision at the end of the month. Despite fluctuating data, signals suggest the Central Bank will make its first cut in September without further delay.
FUD has weakened; although investor fear and panic have amplified sales, sentiment is turning positive. So, what is the situation with ADA Coin? On July 25, it fell below the moving averages, but with BTC’s recovery, ADA Coin also turned upward. If the rise continues, $0.46 and $0.52 levels could be tested by the end of the month.
If BTC is in the middle of another fake rise, there is concern that ADA Coin’s price could drop to $0.35. For now, the focus is on daily, weekly, and monthly closings for BTC. Speculators might pump fear close to the Fed meeting, as we have seen before many meetings.
Avalanche (AVAX)
SOL Coin surged ahead, but AVAX couldn’t achieve this due to double-digit annual inflation. After the July 25 drop, AVAX is targeting the $29 resistance again. If we see closings above $29, new attempts at $34 and $37 are possible. At the time of writing, the price is not far from the resistance level.
In a bearish scenario, the $24 and $21.8 levels are followed by the $18.5 scenario.
Shiba Coin Commentary
In 2021, Shiba Coin was like a storm, but now there are many alternatives. New alternatives like PEPE Coin and especially meme coins on the Solana network, which have turned into gambling, are attracting volume during rises. Still, Shiba Coin has built a strong community and could perform well in bull markets.
If the price, stuck between $0.000015 and $0.00002, breaks upwards, larger peaks will be targeted after $0.000026. Downwards, the $0.000013 target is current.
