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BTG, BAT, Zcash Altcoins Price Prediction — Showing Multidirectional Dynamics Against Bitcoin

Bitcoin is going down again, however not all coins are following its trend. Is there any common price dynamics between BTG, BAT, and ZEC?

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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

July 23 has started with one more cryptocurrency market dump. Most of the top coins are going down in correlation to US Dollar. 

The biggest day loser is Binance Coin whose rate has dropped by more than 5% over the last day. In this regard, the total market capitalization has lost $10 Bln and now constitutes $267 Bln. 

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Cryptocurrency market cap 07/24/19
Cryptocurrency market cap by CoinMarketCap

However, some cryptocurrency are looking positive against BTC. 

BTG/BTC

Bitcoin Gold has shown the biggest price decline out of the top 50 coins. Its rate has decreased by around 10% over the last day. 

BTG/BTC 1-hour chart
BTG/BTC chart by TradingView

On the 1H chart, BTG is facing a downtrend, and the coin has lost 10% of its price once the Head and Shoulders pattern is formed. Although today’s price decline is considered a dump, Bitcoin Gold is not likely to recover fast. 

The RSI indicator is going up, suggesting that sellers have not left the market yet. In this case, the price will locate in the yellow corridor until the first days of August.

The price of BTG is trading at 0.002448 BTC at the time of writing.

BAT/BTC

Basic Attention Token is showing much more positive price trend than Bitcoin Gold, as its rate has almost not changed since yesterday.

BAT/BTC 1-hour chart
BAT/BTC chart by TradingView

On the hourly chart, BAT is trying to get out from bears’ dominance and reach the nearest resistance at 0.000025 BTC. The technical patterns also indicate the possible bounceback. 

Mainly, the lines of MACD have changed from bearish to bullish. Respectively, the level of 2500 satoshi might be achieved until August 1. 

The price of BAT is trading at 0.00002330 BTC at the time of writing.

ZEC/BTC

Zcash is the only coin from our list which is located in the green zone. Its rate has gone up by 1.7% over the last 24 hours.

ZEC/BTC 1-hour chart
ZEC/BTC chart by TradingView

From the technical point of view, the price is not going to recover due to the rising RSI indicator. Moreover, the trading volume keeps decreasing, suggesting the upcoming decline to the support at 0.0068 BTC. 

The price of ZEC is trading at 0.007166 BTC at the time of writing.

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com