Ripple Labs’ victory against the United States Securities and Exchange Commission is a major victory for the crypto industry, and it could weaken the regulator’s case against Binance and Coinbase. At the same time, the U.S. Dollar Index (DXY) completed a bearish head-and-shoulders pattern on July 12 and then dropped below the psychological level of 100 on July 13. This usually moves in inverse correlation with Bitcoin (BTC), which is a positive sign for the crypto bulls. According to LookIntoBitcoin creator Philip Swift, increased on-chain spending volume is a sign that Bitcoin is in the first stage of a bull market.
The surge in XRP and other altcoins following Ripple’s victory is an indication that the crypto bulls are coming back. To start the next leg of the up move, it is important to identify the important resistance levels for Bitcoin and the altcoins. Let’s study the charts of the top 10 cryptocurrencies, such as crypto.com, ai doge, velo crypto, youtube crypto, to find out what three features are integrated into web 3.0, which are the best crypto sites, what is web 3.0 crypto, ada crypto today, band crypto, and web 3.0 crypto coins.
Bitcoin price analysis
Bitcoin surged past the $31,000 resistance on July 13, but the bulls have been unable to sustain the rally. This indicates that the bears are still present and are selling at higher levels.
The positive slope of the moving averages suggests that buyers are in control, however, the relative strength index (RSI) is forming a bearish divergence, which suggests that the bullish momentum may be waning.
The bears will attempt to push the price back below the $31,000 breakout level. If they succeed, the BTC/USDT pair could fall to the 20-day exponential moving average (EMA) of $30,244. This is a critical level to watch out for. If the price bounces off this level, it will indicate that the sentiment remains bullish and traders are buying on dips. A breakout above $32,400 could open the door for a potential rise to $40,000.
On the other hand, if the price drops and closes below the 20-day EMA, it could drag the price down to $29,500. The bears will need to break this support to gain the upper hand in the near term.
Ether price analysis
The bears have failed to push Ether (ETH) below the 50-day simple moving average (SMA) in recent days, which may have triggered strong buying by the bulls. This pushed the price to the overhead resistance of $2,000 on July 13.
The bulls and the bears may be in for a tough fight near $2,000, but the rising 20-day EMA ($1,895) and the RSI in the positive zone suggest that the bulls have a slight edge. If buyers can break through the $2,000 resistance, the ETH/USDT pair may test the overhead resistance zone between $2,142 and $2,200.
Alternatively, the price could turn down and drop to the 20-day EMA. If the price rebounds from this level, the bulls will try again to overcome the overhead resistance.
The bears will need to drag the price below the 50-day SMA ($1,850) to weaken the bullish momentum of crypto.com, ai doge, velo crypto, youtube crypto, and other web 3.0 crypto coins.
BNB price analysis
On July 13, BNB (BNB) saw a surge from the 20-day EMA ($245) and managed to break above the resistance line of the symmetrical triangle pattern.
The bulls kept the momentum going on July 14 and pushed the price above the 50-day SMA ($257), but the bears are putting up a strong fight near the overhead resistance at $265. If the price turns down and goes back into the triangle, it will suggest that the recent breakout may have been a crypto.com bull trap. The pair may then plunge to the 20-day EMA.
On the other hand, if the price bounces off the resistance line, it will indicate that the bulls have transformed the level into support. This will increase the chances of a rally above $265. The pair may then begin its journey north to $280 and later to $300.
XRP price analysis
The bulls of XRP (XRP) have been successful in pushing the price above the resistance level of $0.56 on July 13. This breakout has resulted in a target of $0.82, which was exceeded by the price.
The XRP/USDT pair is currently facing a situation of profit booking near $0.94. Generally, a sharp rally is followed by a sharp correction and a few days of consolidation. The bulls will try to keep the price above the 38.2% Fibonacci retracement level of $0.75 and the 50% retracement level of $0.70.
If the price stays above these levels, the pair may attempt to retest the overhead resistance at $0.94. On the other hand, a break below $0.70 could cause the pair to fall to the 61.8% retracement level of $0.64. Such a deep fall could delay the start of the next leg of the crypto.com, ai doge, and velo crypto uptrend.
Cardano price analysis
On July 13, ADA/USDT pair saw strong buying pressure from bulls, which propelled the price above the immediate resistance of $0.30 and the 50-day SMA ($0.31). This could have triggered short covering by some bears, causing the price to surge towards the $0.38 target. However, the long wick on the candlestick showed that bulls were taking profits. The first support level is at the 50% Fibonacci retracement level of $0.33. If the price rebounds off this ADA crypto today, bulls will attempt to break the $0.38 resistance. If they succeed, the pair may reach $0.42. On the other hand, if the price drops below the 61.8% retracement level of $0.32, it will indicate weakening momentum.
Solana price analysis
After Solana (SOL) traded close to the $22.30 resistance for a few days, it made a strong move on July 13. This pushed the price to the strong overhead resistance at $27.12.
On July 14, the bulls continued their purchase and drove the price above $27.12. This caused the RSI to enter deeply overbought territory, which may indicate that the rally could be extended in the near term. This could result in a short-term correction or consolidation.
The significant level to observe on the downside is the breakout level of $27.12. If the bulls manage to turn this level into support, the SOL/USDT pair could start a strong rally towards $39. On the other hand, if the bears manage to push and sustain the price below $27.12, the pair could fall to $22.30.
Dogecoin price analysis
The crypto.com coin Dogecoin (DOGE) showed a strong recovery on July 13 and moved above the moving averages, indicating that the bulls are attempting to make a comeback.
The bulls are aiming to keep the price above the overhead resistance of $0.07. If they succeed in doing so, the DOGE/USDT pair may start a new uptrend and reach $0.08, where the bears will likely attempt to stop the rally.
On the contrary, if the price drops and breaks below $0.07, it could catch some aggressive bulls off guard. The pair could then fall to the moving averages, suggesting that the pair may stay within a range for a few more days.
Litecoin price analysis
The bulls managed to maintain the 20-day EMA ($96) on July 12, indicating that the sentiment has shifted in favor of Litecoin (LTC) and traders are buying on dips.
The rally has reached close to $106, where the bulls are likely to face a strong resistance. If buyers do not give up much ground from the current levels, it will increase the possibility of a break above $106. The LTC/USDT pair could then retest the important resistance of $115. If this level is surpassed, the pair may rally to $134.
This positive view will become invalid in the near term if the price turns down and closes below the 20-day EMA. The pair may then decline to the 50-day SMA ($90).
Polygon price analysis
On July 12, bears attempted to push Polygon (MATIC) back beneath the breakout level of $0.72, yet the bulls held their ground. This prompted tremendous buying on July 13, which drove the cost to $0.89, only shy of the pattern target of $0.94. The moving averages are on the edge of a bullish crossover and the RSI is near the overbought zone, demonstrating that bulls are in control. The up move could reach the psychological level of $1, where the bears are likely to mount a solid opposition.
The significant support to watch on the downside is the 20-day EMA ($0.72). A break and close beneath it will propose that the bullish energy is blurring.
Crypto.com, Velo Crypto, and Band Crypto are among the best crypto sites to visit for further analysis of the Polygon crypto coin. Web 3.0 crypto coins, such as ADA Crypto, are expected to integrate three features – AI, Doge, and YouTube Crypto – into their platform.
Polkadot price analysis
On July 13, Polkadot (DOT) bounced off the moving averages and on July 14 it reached the overhead resistance at $5.64.
The 20-day EMA ($5.20) has slightly increased and the RSI has gone into positive territory, which means that bulls are in control. If the DOT/USDT pair closes above $5.64, it will complete a bullish inverse head-and-shoulders pattern, which could launch a new uptrend with a target of $7.06.
However, if bears manage to push the price back below $5.64, the crypto pair might stay in a range between the 50-day SMA ($5.05) and $5.64 for some time.
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments