U.S. markets are currently observing a holiday break, affecting the cryptocurrency sector, which faces a decrease in trading activities until the markets reopen. This slowdown could lead to a decline in trading volumes, which had already started showing effects earlier in the week. The ongoing flow of impactful news could induce volatility similar to recent oscillations.
How Will AVAX and ETH Perform?
Short-term traders may find the upcoming volatility beneficial, with potential market shifts expected as EU meetings unfold this weekend. Discussions around trade agreements are now underway, counterbalanced by robust U.S. job data, alleviating recession concerns. Speculation about a July interest rate cut has waned, but a September cut remains possible, pending further updates on trade tariffs.
In this climate, cryptocurrencies seem poised for positive momentum with decreased uncertainty, attracting increased market interest. Optimism is further bolstered by the House of Representatives’ approval of Trump’s tax legislation, nurturing hopes for forthcoming favorable cryptocurrency regulation in August.
AVAX prices experienced an upsurge, crossing the $18.5 threshold. Should positive outcomes emerge from the EU meetings, prices could push towards the $23.8 target. Investors eyeing a holiday market rally might increase demand if prices maintain closures above $19.45. Conversely, price dips could test levels down to $17 and potentially $15.6.
What Is the Outlook for BNB and XRP?
Buying and selling BNB around the $600-$660 bracket has been a favored technique, with current testing of local lows setting sights on resistance levels again. As the holiday continues, $693 and $730 targets might emerge. Market sentiment will evolve around price movements above $670.
XRP Coin finds itself in a strong position; the withdrawal of an appeal has coincided with Ripple‘s banking license application, fostering ecosystem growth. These positive signals might lead to price closures over $2.33.
XRP targets sit at $2.6, with sustained support here potentially allowing a swift recovery toward the $2.87-$2.98 band. However, declines could see targets of $2.2, $2.07, and eventually $1.98.
Key takeaways include:
- Cryptocurrency trading volumes may dip due to the U.S. holiday.
- AVAX anticipates price gains with positive EU meeting outcomes.
- BNB and XRP exhibit promising bullish potential.
- The market remains watchful of U.S. economic signals and regulatory updates.
With multiple market factors at play, cryptocurrency enthusiasts and traders will be keenly watching for indicators that could swing the market as the holiday concludes and trading resumes. This period of relative calm could quickly pivot to heightened activity, bringing both opportunities and risks.
