BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin boomed up breaking its important pivotal resistance zone of $10,000 - $10,500 on the first day of the last week of July 2020. This has happened after a long wait since August 2019. The bulls soared Bitcoin to a high of $11379 and closed the price just above the 11K resistance line at $11044 on Monday, 27th July 2020. Bulls saved the price from falling below a low of $9944 yesterday. The positive $11044 close has completed the ascending triangle formation giving great bullish signals. We can see how well the bulls have battled and shot the asset above its long-awaited resistances to higher price levels. If they maintain this solid upward momentum and take advantage of the current scenario, traders and investors can expect Bitcoin to rally towards $16000 soon.
Key points to mark:
Immediate resistance that BTC faces: $11500. If bulls take the price above this level, the next resistance will be faced at around $12000-$12500 area, followed by $13174 and $13764.
Immediate support that BTC faces: $11,000 + $10500 + $10000. If bears take over and push BTC below these levels, it will test support around $9581 (20 EMA), $9452 (basis of BB), and $9395 (50 MA) below which it might test $9000 level.
Indicators
The moving average convergence divergence (MACD) goes on increasing its acceleration with the MACD line highly sloping upwards above the 0 level. The signal line is moving towards more positive values. RSI has sloped up at 82.8 level in the overbought section. This indicates how bulls are not ready to give up and go on increasing their strength.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum goes on shooting up and giving an excellent performance by breaking out above its long time resistance levels it was facing since June 2019. The bulls have decided to bestow great profits to the traders by hiking the price above the $316 resistance level on the first day of last week of July 2020. Bulls pushed Ether towards the next higher resistance level making a high of $333 and closing the price above the $316 resistance level at $322 on Monday, 27th July 2020. They did not let Ether fall below a low of $310.9 yesterday. Traders and investors keep the history of Ethereum's performance in mind and wait for a price correction to occur to buy more at lower levels.
Key points to mark:
Immediate resistance that ETH faces: $365. If bulls push ETH above this level, the price will go to test $380, followed by $410 - $458 resistance zone and $470 - $485 zone before rallying to $515 upper resistance level.
Immediate support that ETH faces: $316. If bears push ETH below this level, it will test support at $288 and $278 below which the price might fall to $264 (20 EMA) and $256 (basis of BB).
Indicators
MACD goes on increasing its acceleration with the MACD line highly sloping up in positive momentum along with the signal line above 0 level. RSI goes on entering the overbought region and is currently at 84.8 level. This indicates that a price correction might soon be witnessed by Ethereum.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple after successfully completing the inverse head and shoulders formation rose up above its immediate resistance with a positive close above it. The bulls pushed XRP to make a high of $0.229 and closed the price at $0.224 on Monday, 27th July 2020. Bulls saved the price just below the neckline of Inv.H&S at a low of $0.209 yesterday. Now Bulls will increase more strength upwards aiming to take the price above the $0.235 resistance level soon. Traders and investors are alert on any price correction if occurs to buy more at lower levels.
Key points to mark:
Immediate resistance that XRP faces: $0.235. If bulls push XRP above this level, it will go to test $0.247 resistance, followed by $0.255 before rallying towards the $0.271 and $0.285 upper resistance levels.
Immediate support that XRP faces: $0.215. If bears push XRP below this level, it will test $0.211 (neckline), followed by $0.203 (20 EMA) and $0.193 (50 MA) before declining to $0.188 (lower BB) support.
Indicators
MACD has increased its acceleration with the MACD line and the signal line sloping up above the 0 level. RSI has sloped up to 72 inside the overbought zone. This indicates that bulls are not ready to give up the battle.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin after testing $51 resistance the previous day, broke out above it on the first day of last week of July 2020. The bulls could make a high of $55.9 and closed the price positively above $51 at $53 on Monday, 27th July 2020. The price was picked up from just above the $46 level, at a low of $46.9 yesterday. The bears tried to take the price to the downside, but bulls played strong maintaining their strength to save and rise Litecoin to the upside. Traders and investors successfully accumulated the asset at lower price levels before it finally shot up.
Key points to mark:
Immediate resistance that LTC faces: $60.5. If bulls push LTC above this level, it will test $64 before rallying towards $72, $76, and $80 upper resistance levels.
Immediate support that LTC faces: $51. If bears take over and push LTC below this level, it will test $46 support and $44 (50 MA) before declining to $39 support level.
Indicators
MACD increased its acceleration with the MACD line sloping up in positive momentum along with the signal line above 0 level. RSI has entered the overbought area sloping up at 74.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash shot up above the $260 resistance level. The bulls tried to push the asset towards the upper resistance of $280 on the first day of last week of July 2020. Bitcoin Cash made a high of $275.7 and closed the price positively above $260 at $269 on Monday, 27th July 2020. The bulls picked up the price just above the $246 level at a low of $247.6 yesterday. If bulls continue to apply more upward momentum to take the price to the upside, traders and investors will witness profits above $300 level soon.
Key points to mark:
Immediate resistance that BCH faces: $246 (upper BB). If bulls push BCH above it, we can expect the price to go towards $260, followed by the $280 resistance level.
Immediate support that BCH faces: $260, followed by $246. If bears push BCH below these levels, it will test $238 (20 EMA) and $234.8 (50 MA), before declining to $217 and $200 lower support levels.
Indicators
MACD goes on increasing its acceleration with the MACD line sloping up above the 0 level along with the signal line. RSI has sloped up touching the overbought region at 70.8 showing how the bulls are in command.
