Cardano, SafeMoon & Bitcoin – American Wrap 02 August

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Bitcoin price logs ten consecutive up days, yielding a 41.76% return and closing last week up 12.52%. Ethereum price closed last week up 16.53% and finished July with a gain of 11.29% after being down 24% at the July 20 low. XRP price stalls at formidable resistance after triggering a double bottom pattern. 

SafeMoon Price Prediction: SAFEMOON drops 27%, but any rebound should be sold

SafeMoon price shaped a descending triangle pattern since the May collapse, with the May 19 low of $0.00000261 serving as the horizontal support for the triangle. Finally, on July 28, SAFEMOON logged a daily close below the May 19 low, triggering the bearish pattern. Despite the oversold condition on the daily RSI, the outlook for the altcoin is still bearish as the previous price contraction will lead to further price expansion.

Cardano Price Prediction: ADA bulls attempt retest of $1.50

Cardano price is currently hovering around a crucial support level, but a minor pullback before a new leg up seems likely. Therefore, investors can expect ADA to correct critical demand barriers.



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