BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin fell below its essential support but gave a positive close just above the trend line of the ascending triangle. The bulls tried their best to push BTC above the $9200 support but failed and made a high of $9194 on Friday, 17th July 2020. The price closed at $9167 slightly above the trend line and bulls did not let Bitcoin to fall below a low of $9102 yesterday. The previous $9200 support has now turned into the asset's immediate resistance. Bears seem to increase their strength in order to push the price below the triangle. If this happens, Bitcoin will witness a downfall to lower price levels.
Key points to mark:
Immediate resistance - $9200. If bulls can take BTC above the basis of BB and moving averages, then the upper BB will be tested at $9400.
Immediate support - $9000 (lower BB). If bears push BTC below the lower BB, we can expect a price decline towards $8100 level, with $8600 minor support.
Indicators
MACD has begun to decelerate as the MACD line crosses below the signal line in negative momentum, both below the 0 level. The relative strength index (RSI) flattens with bearish divergence at 46.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum has gone super bearish by breaking below all its support levels and entering into the lower half of the Bollinger Bands region. The bears have increased a lot of bearish momentum and will further try to push Ether down to win the battle. ETH made a high of $234.8 just below the basis (middle line) of Bollinger Bands and closed the price at $233 on Friday, 17th July. The bulls saved the price to slip below the low of $232 yesterday. The fifty-day moving average (MA) has sloped further down in a bearish mood. If the bulls fail to induce some positive momentum, Ethereum will witness the downside soon.
Key points to mark:
Immediate resistance - $235 (basis of BB) + $236 (20 EMA). If bulls successfully take ETH above these level, $239 (50 MA) will act as resistance followed by $245.
If bears push ETH further below, it will test the lower BB support at $221 before retesting the $216 support level.
Indicators
MACD has an increased deceleration as the MACD line is sloping down below the signal line. Both still remain above 0 the level. RSI has dropped below the midpoint flattening at 49.9 level.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple is standing at an undecidable stage of its next price movement as we can see the formation of a long-legged Doji candle. The bulls failed to take Ripple above its fifty-day moving average (MA) and XRP made a high just below it at $0.198 and closed the price at $0.194 on Friday, 17th July 2020. The bulls did not let Ripple fall below a low of $0.191 yesterday. Bears might try to push the altcoin into its lower half of the Bollinger Bands region, but if bulls successfully increase some positive momentum, Ripple will go back to test the higher levels.
Key points to mark:
Immediate resistance - $0.198 (50 MA). If bulls take XRP above this level, the price will test $0.211 (upper BB) followed by the $0.215 resistance level.
Immediate support - $0.192 (20 EMA) followed by $0.189 (basis of BB). If bears push XRP below these levels, the price will test the down-trend line at $0.186, below which bears will sink the price towards $0.167 (lower BB).
Indicators
MACD continues to reduce its acceleration. The MACD line is almost parallel to the signal line in positive momentum, both above 0 level. RSI also remains positive at 52.9 still in the bullish region.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin has gone bearish and remains to trade in the lower half of the Bollinger Bands region. LTC made a high of $42 and closed the price at $41.9 on Friday, 17th July 2020. The bulls did not let Litecoin fall below a low of $41.7 yesterday. The fifty-day moving average (MA) has sloped down giving negative bearish indications. If bears continue increasing its negative momentum to win the battle, Litecoin will witness a decline to the downside soon.
Key points to mark:
Immediate resistance - $42.9 (basis of BB) + $43 (20 EMA). If bulls push LTC above these levels, it will test $43.7 (50 MA) followed by the $45 resistance level.
If bears take LTC further below, it will test the lower BB at $40 and retest the $39 support level.
Indicators
MACD has begun to decelerate as the MACD line falls below the 0 level, also crossing below the signal line with negative momentum. RSI has flattened at 42.7 much below the midpoint going further bearish.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash is also trading bullish as it has not been able to recover from the lower half of the Bollinger Bands region for three days now. BCH made a high of $225 and closed the price at $222.8 on Friday, 17th July 2020. The bulls saved the altcoin to fall from a low of $221.8 yesterday. Bears have gained a lot of strength and will continue its bearish trend if bulls fail to maintain its momentum.
Key points to mark:
Immediate resistance - $229.6 (basis of BB) + $231 (20 EMA) + 232 (50 MA). If bulls can bush BCH above these levels, we can expect it to go towards the upper BB at $244.8 resistance level.
If bears take BCH further below, it will test the $217 support level followed by the lower BB at $214.
Indicators
MACD has increased its deceleration as the MACD line goes further into negative values falling below the signal line, both below 0 level. RSI falls further down at the verge of entering the oversold region at 40.8.
