{"id":21509,"date":"2022-08-02T10:00:04","date_gmt":"2022-08-02T04:30:04","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=21509"},"modified":"2022-09-19T18:57:35","modified_gmt":"2022-09-19T13:27:35","slug":"market-update-august-2-2022","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/crypto\/market-update-august-2-2022\/","title":{"rendered":"Crypto Market update: 2 August 2022"},"content":{"rendered":"

August began on a weak note for cryptos as Bitcoin (BTC) and Ether (ETH) failed to break above their key resistance levels. The broader crypto market fell by over 4.2% in the last 24 hours.<\/p>\n

Lack of cues from the crypto market, weak economic indicators from the US, and recession fears kept investors on their toes.<\/p>\n

The Crypto Fear & Greed Index, a measure of market sentiment and volatility, also went down by two points in yesterday\u2019s session.<\/p>\n

In the absence of any specific crypto-related triggers, the crypto market is expected to follow the price action of NASDAQ.<\/p>\n

Outlook for BTC, ETH<\/h3>\n

In yesterday\u2019s session, Bitcoin failed to break above the psychologically important $24K level, which would have cleared the path towards the $30K level.<\/p>\n

On the 4-hour chart, BTC is experiencing strong support at the $22,890 level, but is also witnessing strong selling pressure. A break below its immediate support level could lead the BTC price to drop to $22,180 and $20,740, the next two key support levels.<\/p>\n

\"\"
source: tradingview.com<\/figcaption><\/figure>\n

Likewise, ETH is experiencing intense selling pressure and has dropped over 6% in the last 24 hours. On the 4-hour chart, it has broken below the key support level at $1,620. There is soft support at the $1,570 level, but if ETH fails to bounce back, it could drop down to the $1,500 level.<\/p>\n

\"\"
source: tradingview.com<\/figcaption><\/figure>\n

Chiliz, Numeraire gain amid the gloom<\/h3>\n

Despite the difficult market, there were some bright spots. Top-3 gainers in the last 24 hours were Chiliz (CHZ), which gained 18.6%, <\/span>Numeraire (<\/span>NMR), which registered a 12% increase, and <\/span>Theta Network (<\/span>THETA), which added 6.6%.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

August began on a weak note for cryptos as Bitcoin (BTC) and Ether (ETH) failed to break above their key resistance levels. The broader crypto market fell by over 4.2% in the last 24 hours. Lack of cues from the crypto market, weak economic indicators from the US, and recession fears kept investors on their […]<\/p>\n","protected":false},"author":67,"featured_media":21515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[460,6552],"tags":[6467,6602,6536],"class_list":["post-21509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-market-update","tag-crypto","tag-market-update","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-07-22T13:28:55+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Praniket Nayka\",\"description\":\"\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/praniket\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4b22173b861c31fe922bbaf46c336561?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"Beginner","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/21509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=21509"}],"version-history":[{"count":7,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/21509\/revisions"}],"predecessor-version":[{"id":21604,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/21509\/revisions\/21604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/21515"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=21509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=21509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=21509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}