Correction

On August 1, Binance Coin (BNB) rose to a high of $347 but failed to sustain the uptrend. Bulls were overwhelmed as the altcoin fell back to $320. At the current $320 support, bears and bulls engaged in a price tussle for 48 hours before the upward correction kicked in.

The Bitcoin (BTC) price appears to be under renewed selling pressure as the upside correction faces rejection at the $40,000 level. On July 4, the BTC price broke down to $37,500 and resumed its upward correction.

Following a successful rally to $40,000, Bitcoin's (BTC) price has been consolidating below the recent high.

Bitcoin Cash (BCH) saw its second round of downtrend as it fell to a low of $384 and resumed its upward correction. Price corrected upwards to $416 at the time of writing, but selling pressure is likely to continue.

On July 20, Litecoin (LTC) fell and approached the previous low at $105.78, which was reached when the LTC price fell to $105.78 on June 22. Nonetheless, the bulls bought the dips at this low as the cryptocurrency resumed the correction to the upside.

Following the rejection on June 25, Dogecoin (DOGE) has continued to fall as the altcoin approaches the previous low at $0.15.

Uniswap (UNI) has fallen over the past week and is nearing the previous low above $15. The reason for the decline is that the bulls have been unable to maintain the upward correction above the recent high of $22.50.

Ripple's (XRP) downside move appears to have subsided as price consolidates above $0.59 support. Bears have retested $0.59 support on three occasions, while bulls have bought the dips. Crypto upside has been restricted below $0.62 resistance.

Today, Litecoin (LTC) fell to $131 after being rejected at the high of $139. The crypto fell as the price broke below the moving averages. Selling pressure is likely to accelerate below the moving averages.