BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin is trading below the trendline of the ascending triangle for three days now. It seems that the bears have mounted themselves at the trendline and not letting the price go above it giving bearish signals. BTC made a high just at the trendline at $9244 and closed at $9194 on Monday, 29th June 2020. The bulls bought the dip from a low of $9018 yesterday. As the moving averages act as resistance, we can see the bearish crossover of both the MAs indicating the command of bears. The lower Bollinger Band is acting as a strong support level since the month of March. Bulls need to induce a strong positive momentum in the price for Bitcoin to witness higher levels again. Traders and investors are closely watching Bitcoin to break above the moving averages so that they could invest and buy the asset at lower price levels.
Key points to watch out for:
If bulls aim to push BTC above the immediate resistance of the trendline of the ascending channel at $9200 levels. If it enters back into the channel, the next resistance will be faced at its 20-day EMA at $9345 levels, followed by the 20-day basis of BB at $9385. The next resistance will be at its 50-day MA at $9400 levels. Only if BTC enters back into the upper half of BB can we see it retesting the resistance range of $10,000 - $10,500.
If bears push BTC below the lower BB at $9000, we can expect it to test $8800 support levels, followed by $8600 minor support. If these support levels are broken, we will see the price declining towards $8100.
Indicators
MACD has a reduced deceleration with the MACD line and the signal line are moving towards negative momentum below the 0 level. RSI has sloped up to 46 indicating bulls are trying their best to correct the price momentum.
ETHEREUM / U.S. DOLLAR
Price Analysis
After Ethereum broke below its 50-day moving average (MA) for the first time since April, bears took a negative momentum. Fortunately, bulls have taken the price above its 50-day MA but failed to push Ether above its 20-day exponential moving average (EMA). ETH made a high of $230 and closed at $228, above the $225 important resistance on Monday, 29th June 2020. The bulls bought the dip from the lower Bollinger Band at a low of $221 yesterday. Bears seem to have an advantage and are trying to push Ethereum out of the Bollinger Bands towards the downside. Strong positive momentum is much required to propel Ether back to the upside.
Key points to watch out for:
The immediate resistance ETH is facing is its 20-day EMA at $231, followed by its 20-day basis of BB at $233. If bulls successfully break above these levels, the next resistance will be seen at $239. If bulls push the price above the upper BB at $245, ETH will retest the $250 - $253 resistance range.
The immediate support of ETH is its 50-day MA at $224, followed by the lower BB at $220. If bulls push ETH below these levels and out below the Bollinger Bands itself, we can expect it to decline to $196 and $176 at lower support levels.
Indicators
MACD has reduced its deceleration with the MACD line exactly at the 0 level moving in a negative momentum below the signal line indicating bulls are losing their grip. A correction can be seen if bulls turn the price momentum positive. RSI has sloped up to 48 indicating bulls are trying their best to increase positive momentum.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple is trading inside a descending channel. The bulls are trying hard to push the price towards the descending channel resistance after they bought the price dip from the support line of the descending channel. XRP made a high of $0.179 and closed above the middle line of the descending channel at $0.177 on Monday, 29th June 2020. Bulls bought the dip from a low of $0.175 yesterday. Ripple still faces many resistance levels with its moving averages sloping down. As we can see the upper hand of bears, a strong push to break above the descending channel is needed by the bulls to reverse Ripple's price trend.
Key points to watch out for:
If XRP can reach back inside the symmetrical triangle, it will first face resistance at its 20-day EMA at $0.186, and then its 20-day basis of BB at $0.187. If XRP enters the upper half of BB, it will face major resistance at its 50-day MA at $0.195 and the downtrend line of the symmetrical triangle at $0.198.
If bears push XRP below the lower BB and the middle line of the descending channel at $0.174, we can expect it to test the support of the descending channel at $0.167 before declining to lower levels of $0.14 and $0.12.
Indicators
MACD has reduced its deceleration but the MACD line along with the signal line are moving down towards more negative momentum below the 0 level, indicating how bears still continue to takeover. RSI remains in the oversold region slightly sloping up at 34.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin has also gone to the hands of bears after it fell to its $39 support. Bulls are struggling hard to push the price to the upside but failing due to a lack of buyers. LTC could make a high of $42.3 and closed at $41.8 on Monday, 29th June 2020. The bulls bought the dip from a low of $40.6 yesterday. Bears are continuously succeeding and will try to push the price again below the $39 support level if bulls fail to take Litecoin above the moving averages. The moving averages are sloping down indicating the command of bears.
Key points to watch out for:
If bulls are able to get back a positive momentum, the first resistance level will be tested at its 20-day EMA and 20-day basis of BB at $43, followed by its 50-day MA at $44. If LTC can break above its upper BB, the $47 resistance level will be tested before rallying towards $51.
If the bears push LTC below the lower BB at $40.9, we can expect it to test the $39 support level, followed by $34 at lower support.
Indicators
MACD has a reduced deceleration with the MACD line and the signal line still moving with a negative momentum below the 0 level. RSI has tried to correct and slightly sloped up at 42.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash has a demand at lower price levels after it rebounded from the $217 support level. Bulls are trying their best to take the price towards its moving averages to gain some positive momentum. But the bears are acting stronger and not letting the bulls do so. BCH made a high of $227 and closed at $225 on Monday, 29th June 2020. The bulls did not let the price fall below a low of $218 yesterday. Both the moving averages are sloping down. Bulls need to gather a lot of positive momentum in order to save the asset from declining to the downside towards the lower support levels.
Key points to watch out for:
BCH faces its first resistance at the 20-day EMA at $233.7, and then its 20-day basis of BB at $234.9, followed by its 50-day MA at $239. If BCH goes above its upper BB at $251, we can expect it to retest the $255 - $258 resistance range.
If bears push BCH below the immediate support of $217, we can expect the price to test the $200 support level. If these levels are broken, BCH will decline to $180, followed by $140 at lower support levels.
Indicators
MACD has a reduced deceleration, but the MACD line along with the signal line is in negative momentum below the 0 level, indicating the command of bears. RSI is trying to correct itself slightly sloping up at 42.
