Crypto Price Analysis August 2: NEXO, CRO, AR, GRT, COMP

Key Insights:

• Cronos acted as the best performing altcoin today with an 11% rise.
• Arweave countered this bullishness with a 9.55% drop in the same duration.
• Bitcoin and Ethereum could be seen trading at $23k and $1.6k.

While most of the altcoins decided not to move at all, there were many still who countered the crypto market’s bullishness with their bearishness and vice versa, resulting in an unchanged market cap.

Naturally, the king coin and the altcoin king did not move either and ended up trading at $23k and $1.6k, respectively.

Nexo (NEXO)

NEXO rose by 4.66% in the last 24 hours, but prices remained consolidated just as they had been since July 21.

The Awesome Oscillator is still displaying a green bar which is a good sign for the recovery of June’s 50.8% crash.

Cronos (CRO)

The Crypto.com exchange’s native token ended performing exceptionally, rising by 11.15% in the span of 24 hours.

CRO continued its rally with the recent rise adding to the 43.65% rise noted over the month as the Bollinger Bands exhibited positive signals as well.

Arweave (AR)

The altcoin was among the ones to fall today, dropping by almost 10% from yesterday’s opening price.

The uptrend visible by the Parabolic SAR has also been helpful to AR in recovering from the 42.8% crash of June.

The Graph Token (GRT)

Slightly different than AR, GRT also noted a 9% decline although over the last 48 hours. This will be a hindrance for the altcoin when it comes to recovering the almost 41% crash from June.

Although MACD continues to signal an active bullish crossover which might counter the present bearishness of the asset.

Compound (COMP)

Compound remained unchanged today. Regardless of the broader market trend, COMP has not broken its consolidation for the third week now.

Keeping its 100.66% rally intact, the altcoin has already recovered the 51.86% losses of June, which is why investors have not been pulling their money out of COMP, as visible by the Chaikin Money Flow’s straight line.