Traders are hopeful that Bitcoin’s bounce from $29,000 に $40,000 and the strong rally seen in altcoins is a signal that the bull market has resumed.
ビットコイン (BTC) soared from $29,482.61 七月に 21 に $40,000 今日, its highest level since June 16. This sharp rebound shows a possible change in sentiment.
The bulls received a boost on Sunday, following the news from an anonymous source within Amazon proclaiming that the company is planning to accept Bitcoin payments by the end of 2021 and is exploring the launch of its own cryptocurrency by 2022.
This news seems to have sent the bears scurrying to the exit, ショートスクイズになります. Data from Bybt shows about $1.1 billion of liquidations in 24-hours on Monday, the most since May 18. The intensity of the squeeze was such that “$111,000,000 of shorts liquidated in 10 minutes” according to analyst William Clemente III.
Although institutional adoption of digital assets is on the rise, some still view crypto only as a speculative asset. Man Group CEO Luke Ellis said that cryptocurrencies are “a pure trading instrument” with “no inherent worth in it whatsoever. It is a tulip bulb.”
Can the bullish sentiment sustain and attract further buyers? Let’s study the charts of the top-10 cryptocurrencies to spot the critical levels on the upside and the downside.
BTC / USDT
Bitcoin closed above the 50-day simple moving average ($34,396) 七月に 25, which may have forced the short-term traders to cover their short positions. This could have resulted in a short squeeze today, pushing the price above the overhead resistance at $36,670.
The moving averages are on the verge of a bullish crossover and the relative strength index (RSI) 買われ過ぎの領域の近くに上昇しました, indicating that bulls have the upper hand.
買い手が上記の価格を維持する場合 $36,670, the BTC/USDT pair could rally to the overhead resistance zone at $41,330 に $42,451.67 where they may encounter stiff resistance from the bears.
If bulls arrest the subsequent decline above $36,670, the pair could trade in the upper half of the large trading range between $30,000 に $42,451.67. 上記の休憩 $42,451.67 will signal the possible start of a new uptrend.
価格が下落し、移動平均を下回った場合、この前向きな見方は無効になります. それが起こった場合, the pair could retest the $31,000 に $28,000 サポートゾーン.
ETH / USDT
エーテル (ETH) struggled near the $2,200 level for the past two days but the long tail on the July 25 candlestick suggests that bulls purchased the dip. Sustained buying by the bulls has pushed the price above the $2,200 level today.
The ETH/USDT pair could rally to the downtrend line, これもまた堅い抵抗として働くかもしれません. If the price turns down from this resistance but rebounds off the 20-day EMA ($2,081), it will indicate a change in sentiment. That will improve the prospects of a break above the downtrend line.
A breakout and close above the downtrend line will clear the path for a possible rally to the psychological resistance at $3,000. 価格が下落し、20日間のEMAを下回った場合、この強気な見方は無効になります. Such a move will suggest that the bears have not given up and continue to sell on rallies.
BNB / USDT
The bulls have pushed Binance Coin (BNB) above the downtrend line and are now attempting to clear the hurdle at the 50-day SMA ($314).
The 20-day EMA has flattened out and the RSI has risen into the positive territory, indicating that the bulls are attempting a comeback. If they can sustain the price above the 50-day SMA, the BNB/USDT pair may soar to $380 そして後で $433.
それどころか, 価格が現在のレベルから下がった場合, the bears will try to sink the pair back below $280. 彼らがそれをなんとかすることができれば, the pair could continue its down move and retest the July 20 低い $254.52.
ADA / USDT
The long tail on Cardano’s (有る) candlestick on July 25 showed that bulls were buying the dips rather than closing their positions near the 20-day EMA ($1.24). The momentum picked up today and bulls have propelled the price above the moving averages.
If bulls sustain the price above the 50-day SMA ($1.34), the ADA/USDT pair could rise to the downtrend line. This level could act as stiff resistance but if the bulls arrest the next decline above the 20-day EMA, it will enhance the prospects of a break above the downtrend line.
それが起こった場合, ペアはに集まることができます $1.63 そして $1.88. 一方, if the price turns down from the current level and slides below the 20-day EMA, ペアはに落ちる可能性があります $1.14 そして $1.
XRP / USDT
XRP’s rebound had stalled near the 20-day EMA ($0.61) for the past three days but the bulls did not dump their positions. Renewed buying has pushed the price above the 20-day EMA today.
The 20-day EMA has flattened out and the RSI has risen above 54, indicating that bears are losing their grip. If bulls drive the price above the 50-day SMA ($0.68), the XRP/USDT pair could rise to $0.75.
ブレイクアウトと上を閉じる $0.75 will complete a double bottom pattern, which could open the doors for a rally to $1.07. この仮定に反して, if the price turns down from the current level and breaks below the 20-day EMA, the pair could again drop to the critical support at $0.50.
Although bears defended the 20-day EMA ($0.20) 過去3日間, the bulls did not give up much ground. This suggests that bulls were not booking profits as they were anticipating Dogecoin’s (DOGE) relief rally to continue.
買い手は、でオーバーヘッド抵抗を超えて価格を押し上げました $0.21 today but the bears may not give up easily. The sellers will again try to stall the recovery at the 50-day SMA ($0.24). 価格がこのレベルから下がった場合, the bulls will attempt to flip $0.21 サポートに.
彼らが成功した場合, the possibility of a break above the 50-day SMA increases. Such a move could open the doors for a likely rally to $0.28 そして $0.33. 逆に, クマが20日EMAを下回る価格を引いた場合, DOGE / USDTペアは再び下がる可能性があります $0.15.
The bears tried to stall Polkadot’s (ドット) relief rally at the 20-day EMA ($13.92) for the past three days but they could not pull the price back below the $13 レベル. This shows that bulls were buying on every minor dip.
The bulls have pushed the price above the 20-day EMA today and the DOT/USDT pair could now rally to the overhead resistance at $16.93. This level may act as stiff resistance and if the price turns down from it, ペアは再びドロップする可能性があります $13.
それどころか, if bulls drive the price above $16.93, it will suggest that the markets have rejected the lower levels. The pair could then start its northward march to $20 and later to the stiff overhead resistance at $26.50.
UNI / USDT
Uniswapの (UNI) recovery has reached the downtrend line of the descending triangle pattern where bears may mount a stiff resistance. If the price turns down from this level and breaks below the 20-day EMA ($18.17), it will suggest that bears are aggressively selling at higher levels.
The RSI has climbed into the positive territory and the 20-day EMA has flattened out, suggesting that the selling pressure is reducing. If bulls push and sustain the price above the downtrend line, the bearish pattern will be invalidated.
That could attract further buying, opening the doors for a rally to $25. If bulls can clear this hurdle, the UNI/USDT pair could rally to $30 クマが難しい挑戦をするかもしれないところ.
関連: Here’s how much Musk and Saylor’s tweets influenced crypto prices in Q2
BCH / USDT
After struggling near the 20-day EMA ($465) 過去2日間, ビットコインキャッシュ (BCH) has resumed its recovery today. The altcoin could now rise to the overhead resistance at $538.11 クマが堅い抵抗をマウントするかもしれないところ.
The RSI has risen above 55 and the 20-day EMA has flattened out, 需要と供給のバランスを提案する. ブレイクアウトと上を閉じる $538.11 will tilt the advantage in favor of the bulls as the BCH/USDT pair will complete a double bottom pattern.
この強気のセットアップは、 $706.22. あるいは, 価格が下がった場合 $538.11, ペアは20日間のEMAにドロップする可能性があります. 価格がこのレベルから跳ね返った場合, the bulls will again try to push the price above the overhead resistance. A break below the 20-day EMA could pull the price to $370.
LTC / USDT
The bears attempted to stall Litecoin’s (LTC) relief rally near the 20-day EMA ($127) for the past two days but the bulls were in no mood to relent. They held their ground and pushed the price above the 20-day EMA today.
The RSI has risen into the positive zone and the 20-day EMA has flattened out, indicating that bears are losing their grip. If bulls drive and sustain the price above the 50-day SMA ($139), the LTC/USDT pair could attempt a rally to $180.
If the price turns down from the 50-day SMA but does not break below the 20-day EMA, it will suggest that the sentiment has turned positive and traders are buying on dips. The bears will have to sink the price below the 20-day EMA to gain the upper hand.
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