Key Takeaway:
- Bitcoin performance was bearish, causing a $70 billion market cap loss.
- Top cryptocurrencies to watch this week: ETH, SOL, FIRE.
- ETH saw a 7.76% drop despite ETF launch.
- SOL found support at $184 and maintained stability.
- FIRE exhibited stable performance with a modest growth rate.
ETH drops 7.76% despite ETF launch
Despite a mild price increase on July 23 with the launch of spot Ethereum ETFs, ETH closed the week with a 7.76% decline. The Ichimoku Cloud indicates a bearish sentiment for ETH’s future, depending on its ability to reclaim certain levels.
SOL finds support at $184
SOL had a stable upward movement, with the price staying above a key support level near $184. The Advance Decline Ratio showing a bullish trend suggests potential for a new bullish run if SOL breaks resistance at $186.
FIRE maintains stability
FIRE showed stability with a 0.93% growth rate and price nearing $1.0512. The RSI indicates approaching oversold territory, potentially signaling a rebound. Monitoring resistance and support levels will be crucial for FIRE’s direction in the upcoming week.
