BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin, after booming up above the $10,000 - $10,500 zone is now trading above the $11,000 resistance. The bulls were able to take Bitcoin to make a high of $11355 and closed the price positively just above the 11K level at $11117 on Wednesday, 29th July 2020. Bulls picked up the fall exactly at the upper Bollinger band from a low of $10851 yesterday. We can see the twenty-day MA has significantly sloped upwards with bullish divergence. Bulls require to maintain the present upward momentum to save the price from witnessing lower price levels. Traders and investors are expecting that the price will trade at current levels for a while before it actually rallies towards the $16000 level.
Key points to mark:
Immediate resistance that BTC faces: $11500. If bulls take Bitcoin 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 + $10500 + $10000. If bears take the price below these levels, it will test support around $9843 (20 EMA), $9619 (the basis of BB), and $9444 (50 MA) before declining down to the $9000 level.
Indicators
MACD increases its acceleration. The MACD line goes on sloping upwards above the 0 level. The signal line is moving towards more positive values. RSI after slightly sloping down in the overbought region has now flattened at 80.6 level. This indicates how bulls are not ready to give up and are still in demand.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum could not cross above the upper Bollinger Band but closed positively just above $316 level. Bears tried to take the cryptocurrency to lower levels below $316 but the bulls saved this from happening. Bulls could take the price to make a high of $326.8 and closed positively at $318 on Wednesday, 29th July 2020. We can see that bears are trying to push the asset down again, but bulls are acting pretty strong. Traders and investors, keeping the history of Ethereum's performance in mind, either expect the price to witness some correction levels or just trade at present levels.
Key points to mark:
Immediate resistance that ETH faces: $328 (upper BB). If bulls can take the price above the upper Bollinger Band, ETH will rise to test $365, and $380, followed by $410 - $458 resistance zone and $470 - $485 zone before rallying to $515 upper resistance level.
Immediate support that ETH faces: $316. If bears push ETH below this level, it will test support at $288 and $278 below which the price might test $274 (20 EMA) and $263 (basis of BB).
Indicators
MACD has reduced its acceleration with the MACD line changing/reducing its slope still directing up in positive momentum. The signal line is sloping upwards above 0 level. RSI seems to flatten at 80.8 level remaining in the overbought section indicating consolidation of the price.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple broke above the $0.235 resistance level along with the $0.246 level, giving great performance after completing the inverse head and shoulders pattern successfully. Ripple also made a positive close above the $0.235 level. The bulls hiked XRP and shot it up to make a high of $0.250 and closed the price at $0.243 on Wednesday, 29th July 2020. Bulls saved the price from falling just below the upper Bollinger Band at a low of $0.229 yesterday. Bears will try not to let the asset witness the upside, but if bulls go on rising levels, we can see significant profits. After collecting at lower levels, traders and investors are now waiting for Ripple to soar high.
Key points to mark:
Immediate resistance that XRP faces: $0.255. If bulls push XRP above this level, it will shoot up to test $0.271 resistance, followed by $0.285 before rallying up above $0.300 level.
Immediate support that XRP faces: $0.235. If bears push XRP below this level, it will test $0.215 and $0.211 (neckline), followed by $0.209 (20 EMA) and then at the basis of BB at $0.206 before declining to $0.194 (50 MA) support.
Indicators
MACD has increased its acceleration and the MACD line goes on sloping up. The signal line also slightly slopes up above the 0 level. RSI has sloped up to 79.7 further inside the overbought zone. This indicates that bulls are not ready to give up the battle but a price correction might be witnessed soon.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin after rising completely above the upper Bollinger Band the previous day made a lower high. The bulls could make a high of $57 and made a positive close at $55 on Wednesday, 29th July 2020. The price was picked up exactly at the upper Bollinger Band and the bulls did not let Litecoin fall below a low of $54.8 yesterday. We can see how well bulls are battling, not allowing the altcoin to witness the downside. Traders and investors seem to collect at the lows and have the patience to wait for the next move to avoid a bull-trap.
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: $54 (upper BB) + 51. If bears take over and push the price below these levels, it will test $47 (20 EMA) support and $44 (50 MA) before declining to $39 support level.
Indicators
MACD goes on increasing its acceleration. The MACD line is still sloping up in positive momentum along with the signal line above 0 level. RSI has slightly sloped down at 74.7 indicating that price correction is likely.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash after shooting up above the $280 resistance level the previous day, remains to stay above it. The bulls tried to push the asset upwards but couldn't go above the previous day's high. Bitcoin Cash made a high of $296 and a positive close above $280 at $288 on Wednesday, 29th July 2020. The bulls saved the price from falling below $280 making a low of $285.5 yesterday. Bears will try to push the asset to the downside, hence bulls need to maintain the application of upward momentum to not let the price fall down. Traders and investors expect the price to trade at current levels for a few more days before rallying above $300.
Key points to mark:
If bulls take BCH above $300 level, it will face resistance at $330, followed by $353 and $378 before rallying towards $410 resistance level.
Immediate support that BCH faces: $280, followed by $260. If bears push BCH below these levels, it will test $247 (20 EMA) and $236 (50 MA), before declining to $217 and $200 lower support levels.
Indicators
MACD still goes on increasing its acceleration. Both, the MACD line, and the signal line are sloping up above the 0 level. RSI has slightly sloped down to 75.9 level but still remains in the overbought zone.
