BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin is still consolidating around the $9200 level. The bulls tried their best to take Bitcoin above its twenty-day exponential MA (EMA) but failed to do so as bears equally fought back. On the first day of the week, Bitcoin closed below the downtrend of the descending triangle formation, in orange. BTC made a high at its twenty-day EMA at $9238 and closed at $9179 on Monday, 20th July 2020. The bulls did not let Bitcoin to fall below the low of $9154 yesterday. Bulls need to induce some upward momentum to take the price above $9200 and the line of the ascending triangle trend, otherwise, Bitcoin will have to witness a downside. But if they are successful in doing so, the trend will reverse and traders & investors will see higher price levels soon.
Key points to mark:
Immediate resistance that BTC faces: $9235 (20 EMA) followed by $9382 (50 MA) + $9405 (upper BB). If bulls push BTC above $9500 level, it will go to retest the $10,000 - $10,500 resistance range.
If bears take BTC further down, the first support will be tested at $9000 (lower BB) and then at $8800 minor support before declining to $8100 lower support.
Indicators
MACD started to decelerate after a mini acceleration the previous day. The MACD line has overlapped the signal line moving along with it in negative momentum parallel to the 0 level. The relative strength index (RSI) has slightly sloped down to 46.8.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum bulls seem to hold on to the basis (middle line) of Bollinger Bands and both the moving averages strongly, as they do not let the price fall below these lines how much ever bears try to. We can also see in the one-day price chart below that all the three lines have merged together. Ether made a high of $240 and closed at the meeting of the three lines at $236 on Monday, 20th July 2020. The bulls saved the asset from slipping below a low of $234 yesterday. Traders and investors are also keenly keeping eye at this merged level, hoping the asset stays above it.
Key points to mark:
If bulls increase momentum, ETH will test $245 resistance followed by $248.6 (upper BB) before rising towards $250 and $253 resistance levels.
Immediate support that ETH faces: $236 (20 EMA + 50 MA + basis of BB). If bears push ETH below this level, it will go down to test $225 (lower BB) and might retest the $216 support level.
Indicators
MACD has increased its deceleration with the MACD line parallel to the signal line above the 0 level moving sideways without much clarity. RSI has sloped down exactly at the midpoint at 50.6 level.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple slipped down below it's twenty-day exponential MA. The bulls are pretty strong at the altcoin's fifty-day moving average. XRP made a high of $0.200 and closed the price just above it's twenty-day EMA at $0.195 on Monday, 20th July 2020. The bull saved it at the fifty-day MA at a low of $0.192 yesterday. The current support is pretty crucial at this time because if it fails, Ripple will enter back into the lower half of the Bollinger Bands region.
Key points to mark:
If bulls increase some momentum and take XRP upwards, it will face resistance at $0.212 (upper BB), followed by $0.215. If these levels are broken, XRP will go towards the $0.235 resistance level.
Immediate support that XRP faces: $0.194 (20 EMA) and $0.192 (50 MA + basis of BB). If bears push XRP below these levels, it will test the downtrend line at $0.186 before declining to the lower BB support at $0.172 level.
Indicators
MACD has reduced its acceleration and the MACD line is very close to the signal line. If bears take over, it might cross below the signal line which can go negative for the asset. RSI has sloped down to 51.9, just above the midpoint.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin is still trading in the lower half of the Bollinger Bands region. We can see that the twenty-day exponential MA and the basis (middle line) of the Bollinger Bands have merged together. The bulls tried to push the price above the meeting of these two lines, but failed to do so. LTC could only make a high of $42.8 and closed at $42.0 on Monday, 20th July 2020. The bulls bought the dip from a low of $41.4 yesterday. The bears seem to have gotten tightly stuck at the basis of Bollinger Bands, not letting the price cross above it.
Key points to mark:
Immediate resistance that LTC faces: $43.0 (20 EMA + basis of BB) and $43.8 (50 MA). If bulls push LTC above these levels, it will test $45 resistance and then its upper BB at $45.6 before rallying towards $51 level.
First support that LTC faces: $40.5 (lower BB). If bears push it further below, LTC will retest the $39 support level again.
Indicators
MACD has increased its deceleration and the MACD line is sloping down in negative momentum below both, the signal line, and the 0 level. This indicates that the bulls are losing their strength. RSI is also in the negative zone sloping down at 43 level.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash is also trading inside the lower half region of Bollinger Bands. The bears are defending both, the basis of Bollinger Bands plus the twenty-day exponential MA, not letting the asset go above them. The bulls could only make a high of $227.8 and closed the price at $222.8 on Monday, 20th July 2020. Bulls saved the price from falling below a low of $220.8 yesterday. Bulls strictly require to induce some upward positive momentum to let Bitcoin Cash witness higher levels in the upper half of the Bollinger Bands zone.
Key points to mark:
Immediate resistance that BCH faces: $229 (20 EMA + basis of BB) and then at $236 (50 MA). If bulls push BCH above these levels, it will test its upper BB at $244.7 before rallying towards $260 level.
If bears take over and push BCH further below, it will soon retest the $217 support level followed by crucial support at $200.
Indicators
MACD has increased its deceleration and both the MACD line and signal line are moving with negative momentum almost parallel to the 0 level. RSI has sloped down to 42, indicating if bears increase their strength, the altcoin will soon enter the oversold area.
