Defi volatility and emerging trends

  • According to the Bitcoin Volatility Index, the price of bitcoin remains submerged in terms of commercial interest.
  • Ethereum continues to show strength in the market, but for how long?
  • The ripple price is showing contrarian bullish signals.

The cryptocurrency market shows a shift in the tides. Market dominance could be ceded to Ethereum and Ripple in the coming weeks.

Bitcoin price shows turbulence

The price of bitcoin has stopped all bullish production. The peer-to-peer digital currency has experienced erratic behavior since breaking through the $ 21,000 barrier towards the end of July. Traders may continue to set aside their accounts in the coming days as technical data suggests a wedge pattern is likely to be underway.

Turbulent behavior in Bitcoin’s price could signal disinterest among both bulls and short-term bulls. An On-Chain analysis indicator called the Bitcoin Volatility Index (BVIN) confuses the unpredictability that continues to plague. The BVIN shows declining volatility in net and cumulative volume, shown by a steadily decreasing 50-day exponential moving average (EMA). Therefore, a marginal approach can be justified for weeks until a substantial signal arises.

tm / btc / hglass / 8/2/22

tm.btc.8.4.22

BTC / USDT / 2 hour chart

In the following video, our analysts dive deep into Bitcoin’s price action, analyzing key levels of interest in the market. -FXStreet team

Ethereum’s price is set to outperform

Ethereum’s price continues to show strength in the market. Despite the negative sentiment lingers in the ecosystem around which to merge the solution that the community should adopt. The hold above $ 1,500 should continue to be bullish in the near term.

The first detection of a weakening trend will be a failure support close to the $ 1,350 level, which leaves 15% leeway from Ethereum’s current price of $ 1,594. Updates will be released later in the week as the digital asset shows the potential to outperform its Bitcoin counterpart.

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tm / eth / 8/4/22

ETH / USDT 3-hour chart

In the following video, our analysts dive deep into Ethereum’s price action, analyzing key levels of interest in the market. -FXStreet team

The price of Xrp shows the strength

Ripple’s XRP price auctions at $ 0.358 as the bulls continue to show optimism. XRP’s price is currently holding ground above a critical trend line that can be seen as a quiet storm in the making. The bulls appear to be pointing to macro targets at $ 0.48 and $ 0.50. A breach of these levels could induce a target bullish rally to $ 1.20 in the future, which is a 180% rise from Ripple’s current price.

The invalidation of the uptrend depends on the holding of the bulls at $ 0.325. If the bears break out of this critical line in the sand, a collapse to new all-time lows for 2022 could occur. Bearish targets range from $ 0.20 to $ 0.24 for a drop of up to 45% from the current one. Ripple price.

tm / xrp / 8/4/22 / top3

XRP / USDT 3-hour chart

In the following video, our analysts dive deep into Ripple’s price action, analyzing key levels of interest in the market. -FXStreet team

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