BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin has picked up a declining momentum. The bulls are trying to hold strongly on to the trendline of the ascending triangle defending it from the bears. Bulls need to push the price of Bitcoin above its moving averages soon to prevent it from falling sharply to the downside. The lower Bollinger Band also acted as a great support as the bulls bought the dip exactly from it. BTC could only make a high of $9299 on Friday, 26th June 2020. It closed just above the ascending triangle trendline at $9173 and the bulls bought the low at $9054, not letting the price fall below $9000 support. Both the 20-day exponential moving average (EMA) and the 50-day moving average (MA) has converged together, as seen in the daily chart below. Traders and investors are carefully looking out for the support levels which can be a great opportunity to buy at a lower price range.
Key points to watch out for:
If bulls initiate a positive momentum, BTC will first test its moving averages at $9420 levels followed by the 20-day basis of BB at $9480 levels. If bulls can successfully push the price above these levels, it will test the upper Bollinger Band at $9800 before retesting the crucial $10,000 - $10,500 resistance range.
If bears push the price below the ascending triangle trendline at $9100, BTC will test the lower Bollinger Band support at $9000. If the price falls below this level, $8600 support might be tested before a sharp decline towards $8100 in the upcoming days.
Indicators
The moving average convergence divergence (MACD) has developed a negative momentum after falling below the 0 level. This last happened in late February 2020. The deceleration is increasing indicating bulls are losing their grip and bulls are growing pretty stronger. RSI has also dropped to 43 with a bearish divergence.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum has been range-bound since the starting of this month and is slowly declining towards the lower price support. The bulls are strongly defending the $225 support level, as Ethereum falls to a low of $227 on Friday, 26th June 2020. The bulls failed to push Ether above its 20-day exponential moving average (EMA) and ETH made a high of $233 yesterday. The day's candle closed at $229. The 20-day EMA is flattening but the 50-day MA still slopes upwards. Ethereum is trading well within the Bollinger Bands. Bulls need to increase momentum and push the price to the upper half of the Bollinger Bands for Ether to get back on the upside. Traders and investors can buy the asset at lower price levels until Ethereum gains its positive momentum back.
Key points to watch out for:
If bulls successfully push ETH above its 20-day EMA at $233, it will then test the 20-day basis of BB at $236. If ETH enters the upper half of BB, it will test the upper BB at $249 before going for a retest of $250 - $253 resistance levels.
If bears continue to stay strong, it won't be long enough when ETH will test both the lower BB and its 50-day MA at $223. If this support is broken, we can expect ETH to decline sharply towards $196 followed by $176 support levels.
Indicators
MACD has an increased deceleration with the MACD line sloping away below the signal line, but remain above the 0 level. This indicated that bears are getting stronger. RSI has sloped down to 48 with a bearish divergence indicating bulls are losing their hold.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple has given up hopes as it continues to trade below the symmetrical triangle. The bulls need to keep Ripple trading within the Bollinger Bands range otherwise a sharp decline furthermore to the downside is likely. The bulls tried their best to bring back Ripple into the symmetrical triangle but failed to push the price above the support line, as seen in the daily chart below. XRP could make a high exactly at the symmetrical triangle support at $0.181 and closed at $0.182 on Friday, 26th June 2020. The bulls bought the dip from the lower Bollinger Band at a low of $0.178 level yesterday. Both the moving averages, 20-day exponential moving average (EMA), and 50-day moving average (MA) are sloping downwards showing the command of bears.
Key points to watch out for:
Only if bulls push XRP above the support line of the symmetrical triangle at $0.186, it will first test its 20-day EMA at $0.190, followed by its 20-day basis of BB at $0.191 levels. If XRP enters the upper half of BB it will test its 50-day MA at $0.197 before going towards the downtrend line at $0.200 resistance.
If bears push XRP out of the Bollinger Bands below the lower BB at $0.178, we can expect XRP to decline to $0.160, followed by $0.140 support levels.
Indicators
MACD has slightly reduced its deceleration but still remains in a negative momentum with the MACD line below the signal line and the 0 level. RSI is also bearish at 37 indicating market is in the hands of bears.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin is slowly moving towards the downside. Bears seem to strongly mount themselves at the moving averages and are not letting the price cross above them. But the bulls are equally defending the lower Bollinger Band and not letting LTC fall out of the BB range. Litecoin made a high of $43.5, just touching its 20-day exponential moving average (EMA) on Friday, 26th June 2020. It closed at $43.1 and the low was bought from its lower Bollinger Band support at $41.4 yesterday. This is a positive signal and if bulls increase the momentum, Litecoin will witness correction towards the upside soon.
Key points to watch out for:
If bulls are able to push LTC above its 20-day EMA at $43.9, it will test its 20-day basis of BB at $44.2, followed by its 50-day MA at $44.4. Once LTC breaks above these resistances, it will test the $47 level before rallying towards $51.
If bears push LTC below the lower BB acting as immediate support at $41.6, it will fall down to test the $39 support level.
Indicators
MACD has reduced its deceleration with the MACD line trying to correct upwards. A stronger positive momentum is required for MACD to go above 0 level for a bullish market. RSI has also sloped upwards at 45 indicating bulls are trying their best for a bullish divergence.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash remains bearish and continues to trade in the lower half of the Bollinger Bands. The bulls are not able to push the price above the moving averages and BCH continues to trade between its 20-day exponential moving average (EMA) and its lower Bollinger Band. BCH made a high of $232.8 and closed at $230 on Friday, 26th June 2020. The bulls bought the dip from a low of $227.8 yesterday indicating that they are strongly defending the lower BB support. The moving averages are sloping down showing the command of bears. But the bears are failing to push Litecoin out of the Bollinger Bands range. This battle between the bulls and bears continues to grow stronger with the bears having an upper hand currently. If bulls can successfully push LTC above the moving averages, an upside price correction is likely.
Key points to watch out for:
Bulls need to aim to push BCH above the first resistance level at its 20-day EMA at $237.9. The next resistance level will be tested at the 20-day basis of BB at $239.8, followed by its 50-day MA at $241. Only if BCH enters into the upper half of the BB and breaks above its 50-day MA can we see it retesting the $255 - $258 resistance zone.
If bears push BCH below the lower Bolliger Band at $233, it will go down to test $217 support followed by the $200 support level.
Indicators
MACD has a completely negative momentum as the deceleration goes on increasing with the MACD line sloping down to the negatives below the signal line and the 0 level. This indicates a bearish BCH market. The relative strength index (RSI) also has a bearish divergence and fell to 42 level indicating BCH is still in the hands of bears.
