BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin finally rose above the resistance level of $9500 that it was facing since last month. The bulls induced an upward momentum and pushed the price above it making a high of $9642 and closing the price positively above it at $9557.7 on Wednesday, 22nd July 2020. Bulls did not let Bitcoin to fall below its twenty-day exponential MA by buying the dip from a low of $9305 yesterday. This price movement has confirmed the traders and investors who were waiting for some positive signal. Though bears will try to protect the upward resistance zone, bulls seem to not give up on pushing the asset above the ascending channel resistance soon by increasing more momentum.
Key points to mark:
Minor resistance that BTC faces: $9800. If bulls successfully push the price above it, BTC will test the crucial resistance levels of $10,000 and $10,500.
Immediate support that BTC faces: $9500 followed by $9367 (50 MA) and $9280 (20 EMA). If bears push BTC below the ascending triangle trendline at $9200, it will test the lower BB at $9000 support and might also retest $8800 level.
Indicators
MACD has increased its acceleration a lot with the MACD line going ahead with positive momentum, above both the 0 level and the signal line. This signals an uptrend indicating bulls are growing stronger. RSI has sloped upwards at 60.5 level with bullish divergence.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum performed extremely well as the bulls boomed the price with a good amount of volume, breaking out above the $266 resistance level that the asset was facing since 25th February this year. This is such a stirring event for both short term and long term traders & investors who had bought the second-largest cryptocurrency at lower price levels before. The bulls did a superb job as Ether hiked to a whopping high of $270.5 and closed the price positively at $264.6 on Wednesday, 22nd July 2020. Bulls bought the dip from just above the twenty-day exponential MA making a low of $242 yesterday. Bulls are going to try to increase more momentum and push Ether towards $280 price level soon.
Key points to mark:
Immediate resistance that ETH faces: $266 followed by the $278 level before it rallies towards $288 resistance.
Immediate support that ETH faces: $253 + $250. If bears push the price below these levels, ETH will go to test $240 (20 EMA) and $236 (50 MA) before declining to $223 (lower BB) support level.
Indicators
MACD has increased its acceleration a lot with the MACD line sloping upwards in positive momentum above the signal line. Both the lines are above the 0 level giving bullish signals. RSI has highly sloped up almost touching the oversold region at 69.5 level.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple has finally broken above the down trend as the bulls increase their upward momentum. The bulls are trying to push the asset to higher levels in order to complete the Inverse Head and Shoulders pattern that is being formed, shown by the blue line in the one-day price chart below. If this happens, we can expect Ripple to boom to the upside. But if this pattern fails, bears will not leave any chance to sink Ripple downwards to lower price levels. Ripple made a high of $0.205 and closed positively above the downtrend line at $0.204 on Wednesday, 22nd July 2020. The bulls did not let the price to slip below a low of $0.196 yesterday. Traders and investors had accumulated the altcoin at lower levels and are now keeping an eye on the Inverse H&S level, for the presumption to get fulfilled.
Key points to mark:
The upper BB at $0.212 and the $0.215 levels act as resistance before XRP rallies towards the $0.235 level to the upside.
Immediate support that XRP faces: $0.195 (20 EMA + basis of BB) allowed by $0.192 (50 MA). If bears push the price below these levels, XRP will test minor support at $0.188 before declining to $0.177 (lower BB).
Indicators
MACD has an increased acceleration and both the MACD line and the signal line are going sideways parallel to the 0 level in positive momentum. This indicates that the bulls are trying their best to sustain and increase the upward momentum. RSI has sloped up to 60.8 level with bullish divergence.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin has shot up almost touching the upper Bollinger Bands breaking above the resistance of the basis line and MAs. The bulls pushed the price to a high of $45.19 and closed it just a few decimals below the high at $45.13 on Wednesday, 22nd July 2020. Bulls did not let the price slip into the lower Bollinger Bands region making a low of $43 yesterday. We can see in the one-day chart below that both, the twenty-day exponential MA and the basis line are sloping upwards indicating how the bulls are resurging to the higher price levels.
Key points to mark:
Immediate resistance that LTC faces: $45.8 (upper BB) + $46. If bulls can push the price above these levels, the asset will rally towards $51 resistance soon.
Immediate support that LTC faces: $43.77 (50 MA) and $43.3 (20 EMA + basis of BB). If bears push the price below these levels, LTC will go down to test $40.9 (lower BB) before retesting the $39 support to the downside.
Indicators
MACD has begun to accelerate now with the MACD line crossing above the 0 level and sloping upwards to positive values above the signal line. This indicates that the bulls are trying to recover the lost momentum. RSI has sloped up towards the bullish zone at 58.5 with positive divergence.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash has entered back into the upper half of the Bollinger Bands region busting above its previous resistance levels. The fifth-largest cryptocurrency by market capitalization is trading green bestowing profits to the traders and investors who had bought it earlier at lower price levels. The bulls pushed the price above its moving averages making a high of $240.26 and a close at the exact same level of $240.26 on Wednesday, 22nd July 2020. The dip was bought from below the basis (middle line) of Bollinger Bands and the moving averages by making a low of $227.76 yesterday. Bears will try their best to resist the $246 level like before if bulls push the price out above the Bollinger Bands.
Key points to mark:
Immediate resistance that BCH faces: $245 (upper BB) + $246. If bulls successfully take BCH above these levels, it will test the $260 resistance before rallying towards the $280 level to the upside.
Immediate support that BCH faces: $235 (50 MA) followed by $231 (basis of BB) and $230 (20 EMA). If bears push BCH below these levels, it will go down to retest the $217 support.
Indicators
MACD has begun to accelerate and the MACD line has crossed above the signal line sloping up towards the 0 level as both the lines remain below it. RSI has turned bullish sloping upwards much above the midpoint at 57.7 level giving positive signals.
