June 27, 2022

Crypto Price Analysis & Overview July 30th: Bitcoin, Ethereum, Ripple, Binance Coin, and Solana

5 min read

Bitcoin

Bitcoin saw an impressive 20% price trek this week as it reached the $40K resistance level. The cryptocurrency penetrated above a coming down wedge development last Thursday and continued above the 20-day MA level last Friday.

Since breaking the wedge, BTC rose higher inside a rising rate channel as it broke the 50-day MA level for the very first time given that May and continued to strike the $40k resistance. It did spike above $40K, reaching $40,500 (bearish.382 Fib) but was unable to close an everyday candle light above the coveted level. The resistance there is further reinforced by the 100-day MA.

Since then, BTC rolled over and broke beneath $39,000 today. As a result, BTC is now trading below the rising price channel.

Looking ahead, if the sellers push lower, the very first assistance lies at $38,000. This is followed by $37,000, $36,620, $35,000, $34,710 (50-day MA), $34,000 (20-day MA), and $33,520.

On the other side, the very first resistance lies at $39,500. This is followed by $40,000 (100-day MA), $40,500 (bearish.382 Fib), $42,000 (January 2021 highs), and $44,750 (200-day MA).

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BTC/USD Daily Chart. Source: TradingView. BTC/USD 4-Hour Chart. Source: TradingView. Ethereum experienced a 15.1%price hike today as it reached as high as$2450. It penetrated the 200-day MA last Friday as it broke back above

$2000. From there, ETH continued above the 50-day MA and pushed greater to reach the resistance at$2400. There, ETH had a hard time to close a day-to-day candle above a falling pattern line that goes back to mid-May. As an outcome, ETH has now rolled over and is currently trading at the support

offered by a short-term increasing pattern line, seen on the 4-hour chart. Looking ahead, if the sellers break the pattern line, the very first support lies at$ 2300. This is followed by$2250(.236 Fib),$2200,$2150 (.382 Fib, 200-day MA & 50-day MA), $2070 (.5 Fib ), and$ 2000.

On the other side, the very first resistance lies around$2400 (the falling trend line). Above this, resistance is anticipated at $2440 (1.272 Fib Extension ), & $2530 (1.414 Fib Extension &

100-day MA), $2600, and $2726(bearish.382 Fib Retracement). ETH/USD Daily Chart. Source: TradingView. ETH/USD 4-Hour Chart. Source: TradingView. Against BTC, ETH continues its combination inside an in proportion triangle development. The coin struck resistance at the upper angle of the triangle last Friday and dropped lower from there up until finding assistance at the lower angle on Wednesday at 0.0573 BTC. It has actually considering that rebounded from there and is now evaluating the 20-day MA level above 0.06 BTC. A breakout is likely quickly as the market is quickly approaching the pinnacle of the triangle. Looking ahead, if the bulls & break above the 20-day MA, the first resistance lies between 0.0616 BTC and 0.062 BTC – the 50-day MA and the upper angle of the & triangle. Above the triangle, resistance lies at 0.064 BTC( 100-day MA ), 0.069 BTC (bearish.618 Fib & July highs),

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and 0.072 BTC. On the other side, the very first assistance lies at 0.06 BTC. This is followed by 0.058 BTC

(.786 Fib & lower angle of the triangle), 0.056 BTC, and 0.0541 BTC. Finally, added support lies at 0.05 BTC(200-day MA). ETH/BTC Daily Chart. Source: TradingView. Ripple XRP is up by a solid 21.5%this week, making it the greatest entertainer in the leading 10. It broke above the 20-day MA at$0.6 on Monday and had actually been surging higher since. It went on to break the 50-day MA on Wednesday as it climbed up above the $0.7 level. Yesterday, XRP increased as high as$0.782(bearish

.236 Fib )but might not overcome this level. In addition, the 200-day MA even more strengthened the resistance here. As a result, XRP rolled over today and is now trading around$0.72. Looking ahead, the very first assistance lies at $0.7. This is followed by $0.673(50-day MA),$0.62(20-day MA ),$0.6, and$0.556. On the other side, the first resistance is located at$0.78(bearish.236 Fib & 200-day MA). This is followed by$0.8282(2020 high),$0.9,$0.95(100-day MA ), and$1.00. XRP/USD Daily Chart. Source: TradingView. XRP is likewise carrying out well versus BTC after bouncing from the support at 1600 SAT on Wednesday. There, it discovered support at the lower angle of a short-term descending cost channel

that it has actually been trading inside since the start of July. The break above 1800 SAT on Wednesday permitted XRP to break the price channel and put XRP above the 20-day MA. Since then, XRP has actually pressed higher but is having a hard time to break 1900 SAT(

July 2020 low). Looking ahead, above 1900 SAT, the first resistance lies at 1950 SAT(50-day MA). This is followed by 2000 SAT, 2120 SAT (bearish.236 Fib), and 2300 SAT(100-day MA). On the other side, the very first

assistance lies at 1800 SAT( 20-day MA). This is followed by 1740 SAT (200-day MA), 1660 SAT, and 1600 SAT. XRP/BTC Daily Chart. Source: TradingView. Binance Coin BNB is up by a small 5.3%from where it was trading last Friday as it sits at$310. The cryptocurrency was below $300 at the start of the week but ultimately handled to press above it during the BTC push greater. BNB is trading inside an in proportion triangle pattern and recently hit the upper angle

of this pattern today

at$ 325. A breakout of this triangle would be required for a bullish push toward the June highs. Looking ahead, the first assistance lies at$ 305(.786 Fib & 20-day MA ). This is followed by$300,$ 275 (lowe angle of

the triangle), $244(.886 Fib), and$225 (June lows ). On the other side, the first resistance lies at $325( upper angle of the triangle ). This is followed by $ 350,$288 (bearish.382 Fib ), and $400(100-day MA). BNB/USD Daily Chart. Source: TradingView. Versus BTC, BNB is struggling after setting a new two-month-low today at 0.0077 BTC. The coin dropped below a symmetrical triangle pattern at the start of the week and continued to plunge as the week progressed. It has given that rebounded from the July lows and is attempting to break the resistance at 0.008 BTC again. Looking ahead, the very first support lies at 0.0077 BTC. This is followed by 0.0075 BTC(.618 Fib), 0.007 BTC (200-day MA), 0.00675 BTC(May lows), and 0.0061(.786 Fib

). On the other side, the first resistance above 0.008 BTC lies at 0.0085 BTC. This is followed by 0.009 BTC( 50-day MA), 0.0096 BTC, and 0.01 BTC. BNB/BTC Daily Chart. Source: TradingView. Solana SOL is up around 10%today as the coin tries to break resistance at the 50-day MA level. It bounced from$26.30 at the start of the week and fought to break the 20-day MA at around$28. The break above the 20-day MA finally came the other day as SOL surged above $30. Nevertheless, it is now fighting the 50-day MA resistance that is bolstered by the upper angle of a short-term triangle pattern. Looking ahead, if the bulls can break the 50-day MA at$32 and climb above the triangle, the very first resistance lies at$ 34

(bearish.382 Fib Retracement).

This is followed by $36 (100-day MA ), $38.60(bearish.5 Fib), and$ 40. On the other side, the very first support lies at $30. This is followed by$ 28.88(.382 Fib), $28 (20-day MA ), $26.30(.618 Fb), and$25 (200-day MA & lower angle of the triangle). SOL/USD Daily Chart. Source: TradingView. Against BTC, SOL has actually remained in a stable decline today however discovered assistance at the June lows around 0.0007 BTC yesterday. SOL rebounded at this support yesterday and struck the 20-day MA at 0.000831 BTC today. Looking ahead, if the buyers can break the 20-day MA, the very first strong resistance lies at 0.0009 BTC(bearish.382 Fib, 100-day MA & 50-day MA). This is followed by 0.001 BTC(bearish.5 Fib), 0.00107 BTC(bearish.618 Fib), and 0.0011 BTC. On the other side, the very first support lies at 0.0007 BTC. Below this, support lies at 0.00061 BTC(May low ), 0.000581 BTC(200-day MA), 0.00053 BTC(disadvantage 1.618 Fib Extension), and 0.0005 BTC. SOL/BTC Daily Chart. Source: TradingView.