[PRICE ANALYSIS] JULY 31: BTC/USD, ETH/USD, XRP/USD, LTC/USD, BCH/USD

Key points to mark:

• Immediate resistance that BTC faces: $11500. If bulls successfully take the price above this level, it will test the resistance zone of $12000-$12500 levels, followed by $13174 and $13764 resistance.

• Immediate support that BTC faces: $11,000. If the price falls below this level, it will test $10500, followed by $10097 (20 EMA) support. If bears take over and push BTC below the ascending triangle resistance of $10000, it will test $9510 (50 MA) before declining down to the trend-line of the ascending triangle around $9300 level.

Indicators

The moving average convergence divergence (MACD) maintains its increasing acceleration. The MACD line goes on sloping upwards along with the signal line above the 0 level. RSI has flattened in the overbought section at 82.5 level.

ETHEREUM / U.S. DOLLAR

Price Analysis

Ethereum goes on giving a superior performance by making another higher high before the start of the weekend. Bulls tried to take the cryptocurrency above $350 level by making a high of $348.8 and positively closing at $346.8 on Friday, 31st July 2020. Ether did not go below a low of $329 yesterday. The bears tried their best to push the asset below the $316 level but failed to do so after four continuous retests, after which the price rose to almost $350. Traders and investors now expect further higher price levels as Ether's strong upswing is confirmed.

Key points to mark:

• Immediate resistance that ETH faces: $365. If bulls can take the price above this level, ETH will rise to test $380, followed by $410 - $458 resistance zone and $470 - $485 zone before rallying to $515 upper resistance level.

• If bears push ETH below the $316 support level, it will test the next support at $306. Below this level, the price will fall to test $288 + $286 (20 EMA), followed by $278 below which the price might go down towards $253 level.

Indicators

MACD maintains its increase in acceleration. The MACD line slopes up in positive momentum along with the signal line above 0 level. RSI seems to flatten at 85.7 level entering deeper in the overbought section.

RIPPLE / U.S. DOLLAR

Price Analysis

Ripple is all green moving towards higher resistance levels giving an exemplary performance. After successfully breaking $0.235, the price hiked above the $0.246 resistance level along with the $0.255 level. Ripple also made a positive close above the $0.255 level. The bulls shot XRP up to make a high of $0.260 and closed the price at $0.259 on Friday, 31st July 2020. Bulls picked up the price from falling below a low of $0.242 yesterday. Traders and investors can see how the asset is soaring high but still remain alert for any price correction due to the relative strength index levels.

Key points to mark:

• Immediate resistance that XRP faces: $0.271. If bulls push XRP above this level, it will go to test $0.285 resistance, followed by $0.285 before rallying up to $0.309 and $0.318 resistance levels.

• Immediate support that XRP faces: $0.255. If bears push XRP below this level, it will test $0.246, followed by a $0.235 support level below which it will go down to test $0.217 (20 EMA) + $0.215 and $0.211 (neckline).

Indicators

MACD has increased its acceleration. The MACD line continues to slope up. The signal line is moving towards positive values above the 0 level. RSI further enters into the overbought area at $84.

LITECOIN / U.S. DOLLAR

Price Analysis

Litecoin also made a higher high just before the weekend started. The bulls took the price upwards to make a high of $59 and closed positively at $58 on Friday, 31st July 2020. Bulls did not let Litecoin fall below a low of $55.9 yesterday. We can see how well bulls picked up more momentum to take the altcoin to the upside. Traders and investors who had collected the price at lower levels are now witnessing profitable highs. Bears seem to lose the battle as Litecoin now targets higher levels above the $64 resistance.

Key points to mark:

• Immediate resistance that LTC faces: $60.5. If bulls take the price above this level, it will test $64 before rallying towards $72, followed by $76, and $80 at the upper resistance levels.

• Immediate support that LTC faces: $51. If bears take over and push the price below it, LTC will test $49 (20 EMA) support, followed by $46 level and $44.7 (50 MA) before declining to $39 support level.

Indicators

MACD keeps up its increasing acceleration with the MACD line going on sloping up in positive momentum along with the signal line above 0 level. RSI has flattened at 78.5 still in the overbought zone.

BITCOIN CASH / U.S. DOLLAR

Price Analysis

Bitcoin Cash finally broke above the $300 resistance level making a higher high. The bulls rose Bitcoin Cash to make a high of $306.6 and a positive close above it at $301 on Friday, 31st July 2020. Bulls did not let the price fall below $280 making a low of $287 yesterday. Bears failed to push the asset to the downside but might try to retest $280 level again. As bulls are growing stronger every passing day, traders and investors expect more upward movement and will not leave any opportunity to collect at dips if the price corrections take place.

Key points to mark:

• If bulls take BCH further upwards, it will face resistance at $330, followed by $353 and $378 before rallying towards the $410 resistance level.

• Immediate support that BCH faces: $280, followed by $260. If bears push BCH below these levels, it will test $256 (20 EMA) + $246, followed by $238 (50 MA), before declining to $217 and $200 lower support levels.

Indicators

MACD maintains its increasing acceleration. Both, the MACD line, and the signal line go on moving further towards positive levels above the 0 level. RSI seems to flatten itself at 79 level in the overbought zone. This indicates that bears might try to pull back the price, but if bulls don't give up, BCH will witness another rise soon.