BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin is consolidating between both its moving averages. Bears pushed Bitcoin below its 50-day moving average (MA) trying to take the price towards the ascending channel trendline. But the bulls have successfully saved the asset from witnessing lower price levels. Bitcoin made a high of $9324 below the 50-day MA and closed the price at $9304 above the 20-day exponential moving average (EMA) on Friday, 10th July 2020. The bulls bought the dip from a low of $9133 yesterday. Bulls need to induce some more positive momentum upwards to prevent the bears from pushing the asset below the trendline of the ascending triangle again.
Key points to watch out for:
If bulls can successfully take BTC above its 50-day MA at $9382, it will then face a minor resistance at $9500 and the upper BB at $9600. If BTC breaks above the BB, it will rally towards the resistance line of the ascending triangle to retest $10,000 and then $10,500 level.
If bears push the price further below, BTC will test its first support level at the trendline of the ascending channel at $9000, followed by the lower BB at $8900. If these levels are broken, BTC will test minor support at $8600 before declining towards $8100.
Indicators
MACD has maintained its acceleration with the MACD line still trying to go near the 0 level above the signal line. RSI has gone below the midpoint standing at 50. This indicates that the supply and demand levels are being equally balanced.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum is currently trading below the upper Bollinger Band as the bears did not let the price go above the $250 resistance. Bears tried to push Ether to the lower half of the Bollinger Bands but the bulls did not let that happen. Ether made a high of $242 and closed the price at $241.5 on Friday, 10th July 2020. The bulls did not let the price fall below the 20-day exponential moving average (EMA) and bought the dip just above it making a low of $235.5 yesterday. Ethereum needs to gain some more upward momentum to make positive close above the resistance range, to witness a rally to the upside.
Key points to watch out for:
ETH faces resistance at the upper BB at $248.5. If bulls are able to take the price above the BB, ETH will test the $250 - $253 resistance range, followed by $266 and then $278 resistance level.
If bears take over, ETH will first face support at its 20-day EMA at $234.8, and then at the basis of BB at $233, followed by the 50-day MA at $231. If bears push the price further below the lower BB at $218, ETH might retest the $216 support again.
Indicators
MACD has slightly reduced its acceleration with the MACD line moving in a positive momentum above both, the signal line, and 0 level. RSI seems to slightly flatten at 56 level. This shows how well bulls are able to recover the force of the bears.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple is trading back inside the upper half of the Bollinger Bands. As the bears tried to push the price to lower levels, bulls strongly held on to the 50-day moving average (MA) and did not let Ripple fall below it. XRP made a high of $0.202 at the upper Bollinger Band and closed the price at $0.199 on Friday, 10th July 2020. The bulls bought the dip exactly from the 50-day MA making a low of $0.192 yesterday. We can see how bulls are fighting strongly against the bears and not letting the altcoin go to the downside. If bulls maintain this strength and increase more upward momentum, Ripple will witness higher price levels soon.
Key points to watch out for:
If bulls try to push XRP above the upper BB at $0.202, it will test resistance at $0.211, followed by $0.216 and $0.236 levels.
The first support XRP faces is its 50-day MA at $0.192, and then its 20-day EMA at $0.188, followed by the basis of BB at $0.184 support level. If bears push the price further below, XRP might decline to the descending channel resistance at $0.178 level.
Indicators
MACD has maintained its acceleration with the MACD line successfully crossing above the 0 level and sloping up above the signal line as well. This positive momentum indicates bulls are in the upper hand. RSI has sloped down from the overbought region to 60 level.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin has come back inside the upper half of the Bollinger Bands. The bears pushed the price below the 50-day moving average (MA) but the bulls successfully saved Litecoin from falling below its 20-day exponential moving average (EMA). LTC made a high of $44.6 and closed the price above the 50-day MA at $44.3 on Friday, 10th July 2020. Bulls bought the dip from a low of $43.5 yesterday. We can see a good amount of balance between the supply and demand levels. Bulls will try their best to take the prize above the Bollinger Bands towards the upside again soon.
Key points to watch out for:
If bulls take LTC upwards, it will face resistance at the upper BB at $45 level. If LTC successfully breaks above the BB, it will rally towards $51 resistance level.
If bears push LTC below its 50-day MA at $44, it will test its 20-day EMA at $43, followed by the basis of BB at $42.7 support level. If LTC falls further below, it will test the lower BB at $40 before declining to $39 support.
Indicators
MACD has a slightly reduced acceleration. The MACD line has crossed the 0 level with positive momentum sloping up above the signal line. RSI has turned to 54 level, indicating bulls still have the upper hand.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash remains to trade in the upper half of Bollinger bands. Bears tried to push the price below the 50-day moving average (MA) but the bulls held on to the 20-day exponential moving average (EMA) support strongly. BCH made a high of $239.2 and closed the price above the 50-day MA at $238 on Friday, 10th July 2020. The bulls did not let Bitcoin Cash fall below a low of $232.8 yesterday. Bears seem to mount themselves around the $245 resistance level. On the other hand, bulls are also acting strong and not letting BCH fall below the 20-day EMA. A stronger price momentum is required to break the resistances and take the asset to the upside.
Key points to watch out for:
BCH faces resistance at the upper BB at $247 level. If bulls are successful in taking the price above the BB, we can expect a rally towards $260, followed by $280 resistance level.
If bears push BCH below its 50-day MA at $237, it will test the immediate support at 20-day EMA at $233, followed by the basis of BB at $230 before declining to $217 support level.
Indicators
MACD has a slightly reduced acceleration with the MACD line moving with positive momentum almost crossing above the 0 level. It slopes up above the signal line as well. RSI has flattened at 53.6 level, still above the midpoint. This indicates that bulls are still in the upper hand.
