BTC/USD
The bullish divergence still has a lot of potential, however the market sellers may make a move in the market, so do not be surprised if the market moves down. We are only looking for one level (the buyers’ obligation level and the sellers’ obligation level).
Bitcoin, BTC to USD, increased by 1.53 percent in the week ending July 4th. Bitcoin closed the week at $35,276 after partially recovering a 2.55 percent loss the previous week.
Following a rocky start to the week, Bitcoin climbed to a high of $36,600 on Tuesday before reversing. Bitcoin fell to an intraweek low of $32,700 on Friday, falling short of the first significant resistance mark at $37,302.
Keeping clear of the first key support level at $30,717, Bitcoin returned to $35,000 levels to provide the week's gains. The week's upside was provided by four days in the green, with a 4.14 percent surge on Tuesday.
To sustain a run to the first major resistance level at $37,017, Bitcoin would need to avoid a fall back through the pivot level of $34,859, at $34,859 Bitcoin would require market support to break out from last week's high of $36,600. Barring a prolonged crypto rise, the first significant resistance level would most certainly restrict any further gains.
In the case of a prolonged breakout, Bitcoin may test resistance at $40,000 before reversing. The second significant resistance level is $38,759. If the pivot at $34,859 is not avoided, the first major support level at $33,117 will be tested.
Bitcoin should avoid falling below $30,000 unless there is another protracted sell-off. The second key support level, $30,959, should keep the fall to a minimum.
Bitcoin was down 1.11 percent to $34,883 at the time of writing. Bitcoin fell from an early Monday high of $35,280 to a low of $34,773 due to a negative start to the week.
At the start of the week, Bitcoin did not challenge the main support and resistance levels.
Indicators
The RSI index has moved around the 33% mark, which is still a point from an oversold level. The price could play around the same spot for the next period.
The MACD is still maintaining the negative mark, although with an effort to move way above that. We can observe this with the histogram in the green region. The pair still shows great potential given that it is still trading below the all time moving average price.
ETH/USD
Ethereum is performing a lot better than Bitcoin recently, probably because of the upgrades that are coming. With Ethereum soon to become deflationary, it does seem as though the demand for Ethereum is going to rise and do extremely well in the long-term. We have been stuck in the resistance for quite a long time (ever since ETH) hit almost $4,500 which seems like a long time ago.
In the last few days, Ethereum surged by 17.04%. On the way back, Ethereum completed the week at $2,323 after an 11.51 percent fall of the previous week.
Ethereum had a mixed beginning of the week and fell to $1,957 in the week on Monday before it moved on. Ethereum hit a high of $2.389 intraweek Sunday after clearing from the FIB's 62 per cent of $1,725, with the top support level at $1,703.
The first key level of resistance at $2,263 came through at Ethereum, ending this week at $2,300. The upside for the week on Wednesday was 6 days in green, which includes a 5.10% rise. To lift the first significant resistance level to $2,489, Ethereum would need to avoid the pivot at $2,223. However, it would be necessary to provide broader support to Ethereum to break down to a level of $2,400. Except for a protracted crypto rally, the first high level of resistance and resistance would be upside-down for $2,500. Ethereum might attempt its barrier at 38,2% FIB of $2,740 before a retreat in the case of a prolonged breakthrough. The second highest degree of resistance is $2,655. Apart from another widespread weekly sale, Ethereum should stay clear of levels of sub$2,000. The second biggest aid is 1,791 dollars.
Ethereum was down to $2,317.30 at the time of writing by 0.25 percent. Earlier on Monday, Ethereum dropped to $2,303.44 before it reached a peak of $2,324.44, a mixed beginning of the week.
At the beginning of the week, Ethereum left significant levels of support and resistance untested.
The first significant support level of $2,057 would be at work if the pivot fell below $2,223.
Indicators
The RSI index has moved above 40%, a sign of relief from the setback from some weeks back. showing some hopes for the market in the coming days.
MACD index is still in the negative region but making a move to the 0 point. This is an indication that the pair is regaining losses from the time past and bringing more ambitions in the investing community about its short-term future.
XRP/USD
Everything about XRP/USD points towards the bullish trajectory, so long as prices continue far above USD 0.828867, traders may trade only long positions (when purchased) using RIPPLE - XRP/USD. Beware, however, of bullish excesses which may lead to a probable short-term correction, which would not be commercially viable.
Indicators
The RSI closed at 42.09, acting as a support to serve as an inhibitor to the price slipping further at lower levels while the MACD index returned in the negative field meaning that the market is in a bearish mode.
LTC/USD
The price of LTC reached an all-time high of $417. However, it immediately dipped and hasn't recovered since. It's now in the process of scrapping the $140 horizontal support area.
After the upswing the coin has faced over the last few days, LTC/USD records some losses. The price of Litecoin today is at $137.17, and it has been floating about for the last few days. However, after today's trade opened at $137, the price of Litecoin fell below support to reach the low of $135.
The price of Litecoin does not decrease from the existing level of trade, the traders may notice that cryptocurrency falls to another level of trade. Meanwhile, the short-term technical analysis reveals that 137 dollars are presently the most important types of technical assistance.
A break over the average 21-day movements might nonetheless drive the price of Litecoin to the next $170 barrier. In addition, a bullish push might lead to resistance levels for LTC/USD of $200, $220 and $240.
In the meanwhile, the South is presently confronting the relative strength index (14), which is lower than four-five input levels, which might lead to a further downward trend in the market. The price of Litecoin follows a tumultuous motion as the currency tries to cross the average of 21 days.
Because the market action has also been cleared by more green candles in recent days, the currency is making its way above the 9-day moving average, as seen on the daily chart.
Indicators
Fundamental reports are bearish, and a breach may send LTC to $80, the long-term rising support line. A bullish move may likely bring the market back to the resistance level with a probable break over the 21-day moving average as the Relative Strength Index (14) swings around the 43-level. In addition, any more bullish movement above this barrier may reach a strength level above, while the MACD index returns in the negative, meaning that the market is in a bearish mode.
BCH/USD
The general trend is bearish, according to the chart. Since reaching a peak of $1,644 on May 12, BCH has been declining. The drop was rapid, with a low of $378 reaching just seven days later.
The dip and subsequent bounce confirmed the $450 horizontal support area and that BCH/USD is trading above it. BCH has previously accumulated for 83 weeks below this threshold.
Indicators
The RSI closed at 43.47, acting as a support to prevent the price from slipping further at lower levels.
Despite the volatility of the technical indicators, the trend is considered bearish as long as the MACD is negative.
Correlation
Since last week, the correlations have risen, indicating that the bullish season has arrived. As Bitcoin regained its compression level around $35,000, its dynamic had a positive rippling effect across the crypto ecosystem, resulting in good outcomes for other cryptocurrencies.
Every major cryptocurrency (Ethereum, Ripple, Litecoin, and Bitcoin Cash) has a significant connection with Bitcoin at the present. This implies that if another bullish wave occurs in the near future, the market will most likely continue in the same direction. We anticipate a further rise in the correlation field in the coming days as a result of the compression.
Key Notes For Today
- Bitcoin should avoid falling below $30,000 unless there is another protracted sell-off.
- Apart from another widespread weekly sale, Ethereum should stay clear of levels of sub$2,000
- Traders may trade only long positions (when purchased) using RIPPLE - XRP/USD
- The price of Litecoin does not decrease from the existing level of trade
- At $450, BCH/USD is trending above support.
