August 5, 2021

Crypto Price Analysis & Overview July 9: BTC, ETH, XRP, ADA, SOL

6 min read

Bitcoin

After another unpredictable week, Bitcoin is currently down 2% on the weekly. BTC rebounded from $33K on Monday and pressed greater to fulfill the upper angle of an in proportion triangle pattern, as seen on the charts below.

Sadly, BTC might not break out and rapidly rolled over from there into $33,520 support on Tuesday. After another failed retest of the upper angle on Wednesday (at $35K), BTC heavily rejected and broke to the downside.

Since the breakdown of the triangle, it has found support at $32K, which was the most affordable cost BTC traded at over the past 2 weeks, and as of now, BTC is mainly consolidating around the $33K mark.

Looking ahead, the first support lies in between $32,730 and $32,270. This is followed by $31,600 (double-bottom assistance), $31,185 (drawback 1.618 Fib Extension), $30,600, and $30,000.

On the other side, the very first resistance lies at $33,000. This is followed by $33,520, $34,000 (20-day MA & & coming down trend-line), $35,000, and $35,900 (50-day MA).

btcusd-jul9-min
BTC/USD Daily Chart. Source: TradingView. BTC/USD 4-Hour Chart. Source: TradingView. Ethereum is trading near the exact same rate from a week earlier, amidst the$2K mark. The coin bounced from the 20-day MA at around$2080 at the start of the week and pressed greater into the$2340 – 2400 resistance zone(MA-50 and 0.236 Fib level ), stopping working to break above it on two celebrations – Sunday and Wednesday. After numerous stopped working efforts to sustain$ 2340, ETH rolled over the other day – after hitting the 50-day MA the day previously. It then broke a short-term rising wedge and collapsed back into – the 20-day MA zone around

$2100. Since earlier today, ETH surged lower to $2035( Feb-2021 highs)but has recovered since, trying to stay above the 20-day MA when again. Looking ahead, the first significant resistance lies at$ 2200. This is followed by $2340 – $2400(bearish.236 Fib & 50-day MA), $2560 (100-day MA), and $2725(bearish.382 Fib). On the other side, the very first support lies at$2100(20-day MA). This is followed by$2000(200-day MA), $1888(.886 Fib ), and $1710 – (mid-March assistance &). ETH/USD Daily Chart. Source: TradingView. Against bitcoin, ETH/BTC has actually been trading inside an increasing wedge given that the end of June. The coin bounced from 0.0636 BTC at the start of the week and pushed greater above the 50-day MA at 0.066 BTC to reach as high as 0.0689 BTC. There, it found resistance at a short-term bearish.618 Fib Retracement and rolled over yesterday. Finally, it collapsed beneath the 50-day MA, breaking underneath the wedge, and continued into support at 0.0636 BTC today, supplied by a. 382 Fib and the lower angle of the price channel. Moving forward, if the sellers break 0.0636 BTC, the first support lies at 0.0619 BTC (MA-20 &.5 Fib ). This is followed by 0.061 BTC, 0.06 BTC, and 0.0585 BTC. On the other side, the first resistance lies at 0.065 BTC(50-day MA ). This is followed by 0.0689 – 0.07 BTC(short-term bearish.618 Fib ), and 0.072 BTC (bearish.618 Fib).

ETH/BTC Daily Chart. Source: TradingView. Ripple XRP is down a sharp 7%today as the coin heads into the$0.6 assistance location. The cryptocurrency has been trading inside a coming down rate channel considering that the start of June and has actually been trading below the 20-day MA since the start of July. XRP/USD made numerous attempts to break above the 20-day MA, in addition to the channel, but similar to the marketplace belief – failed on every effort. Yesterday XRP broke down into assistance at$ 0.6. Looking ahead, if the bears continue underneath

$0.6, the first assistance lies at $ 0.556 (2019 highs). This is followed by $0.5,$0.47, $0.4( lower angle of the price channel ), and$0.35(Feb 2020 highs). On the other side, the first resistance lies at around$0.65( 20-day MA & descending channel ).

Above the channel, resistance lies at $0.7, $0.736 (200-day MA), and$ 0.8( 50-day MA, 2020 highs ). XRP/USD Daily Chart. Source: TradingView. Just like against USD, XRP/BTC is also trading beneath a descending trendline and the MA-20. The coin attempted to break the 20-day MA previously today but stopped working to overcome the 2000 SAT resistance level. Since then, XRP has gradually ground lower as it broke beneath July 2020 lows at 1900 SAT(the other day)to reach 1850 SAT earlier today. Looking ahead, the very first assistance lies at 1800 SAT. This is followed by 1660 SAT(200-day MA), 1550 SAT(November 2020 lows), and 1365 SAT(.786 Fib). On the other side

, the first significant resistance lies at 1900 SAT(descending pattern

line 20-day MA & July 2020 low). This is followed by 2000 SAT, 2120 SAT(bearish.236 Fib), and 2250 SAT(50-day MA). < img class= "size-full wp-image-128106 "src="https://cryptopotato.com/wp-content/uploads/2021/07/xrpbtc-jul9-min.png"alt="

xrpbtc-jul9-min “width=”2908″height=”1882 “srcset=” https://cryptopotato.com/wp-content/uploads/2021/07/xrpbtc-jul9-min.png 2908w, https://cryptopotato.com/wp-content/uploads/2021/07/xrpbtc-jul9-min-300×194.png 300w, https://cryptopotato.com/wp-content/uploads/2021/07/xrpbtc-jul9-min-1024×663.png 1024w, https://cryptopotato.com/wp-content/uploads/2021/07/xrpbtc-jul9-min-768×497.png 768w, https://cryptopotato.com/wp-content/uploads/2021/07/xrpbtc-jul9-min-1536×994.png 1536w, https://cryptopotato.com/wp-content/uploads/2021/07/xrpbtc-jul9-min-2048×1325.png 2048w, https://cryptopotato.com/wp-content/uploads/2021/07/xrpbtc-jul9-min-50×32.png 50w” sizes=”(max-width: 2908px)100vw, 2908px”/ > XRP/BTC Daily Chart. Source: TradingView. Cardano ADA/USD has stayed fixed as it trades around$1.3, where it began the week. ADA has actually been trading inside a rising triangle pattern and got rejected by the upper angle earlier today(at around$1.48). After multiple attempts to break the triangle, and following the sentiment, ADA broke down from$1.40, breaking below the 20-day MA line, to reach as low as$1.30. Today, the bulls are battling to preserve the triangle pattern at assistance supplied by the lower angle. Progressing, the very first support lies at$1.30(lower angle of the triangle). This is followed by

$1.25,$ 1.20, and$1.10(200-day MA).

On the other side, the very first resistance lies at$1.40. This is followed by the resistance between$1.46 (100-day MA )and $1.48(50-day MA). Above$ 1.50, included resistance lies at$1.53(bearish.382 FIb ). ADA/USD Daily Chart. Source: TradingView. ADA is also trading inside a rising triangle pattern against BTC. The coin evaluated the upper angle of this triangle at 4200 SAT throughout the week but stopped working to break above. ADA/BTC was likewise held back by resistance at the 50-day MA(~ 4150 SAT). Yesterday, ADA dropped below the 50-day MA and continued lower into the 4000 SAT area, where it discovered assistance at the lower angle of the triangle. Looking ahead, if the bears break the triangle and fall beneath 4000 SAT, the very first support lies at 3950 SAT(20-day MA). This is followed by 3820 SAT(.382 Fib), 3540 SAT(drawback 1.272 Fib Extension), and 3400 SAT(.5 Fib & 100-day MA). On the other side, the first resistance lies at 4150 SAT(50-day MA). This is followed by
4200 SAT (triangle’s upper angle ), 4400 SAT, and 4570 SAT(1.414 Fib Extension

).< figure id= "attachment_128098"aria-describedby=" caption-attachment-128098 "design ="width: 2908px"class= "wp-caption aligncenter ">< img class ="size-full wp-image-128098"src ="https://cryptopotato.com/wp-content/uploads/2021/07/adabtc-jul9-min.png"alt="adabtc-jul9-min"width ="2908"height ="1882"srcset ="https://cryptopotato.com/wp-content/uploads/2021/07/adabtc-jul9-min.png 2908w, https://cryptopotato.com/wp-content/uploads/2021/07/adabtc-jul9-min-300x194.png 300w, https://cryptopotato.com/wp-content/uploads/2021/07/adabtc-jul9-min-1024x663.png 1024w, https://cryptopotato.com/wp-content/uploads/2021/07/adabtc-jul9-min-768x497.png 768w,

https://cryptopotato.com/wp-content/uploads/2021/07/adabtc-jul9-min-1536×994.png 1536w, https://cryptopotato.com/wp-content/uploads/2021/07/adabtc-jul9-min-2048×1325.png 2048w,

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, 2908px”/ >

ADA/BTC Daily Chart. Source: TradingView. Solana SOL saw a small 2 % cost drop this week as it decreased into the 20-day MA zone. Considering that completion of June, SOL has actually been trading inside a symmetrical triangle and tested the upper angle at around $36.80 during this week.

Unfortunately, it could not break above and quickly got declined to strike the 20-day MA today at $32.86.

Moving forward, the very first support underneath the 20-day MA lies at $31.22 (.382 Fib & & triangle’s lower angle). This is followed by $30, $29.11(.5 Fib), and $27 (.618 Fib).

On the other side, the very first resistance lies at $34.40 (50-day MA). This is followed by $35.50 (100-day MA), the upper angle of the triangle, and $38.10 (weekly high).

solusd-jul9-min
SOL/USD Daily Chart. Source: TradingView. SOL/BTC has actually been trading inside a longer-term in proportion triangle pattern given that the end of May. It began the week by rebounding greater from support at 0.00095 BTC (20-day MA )., then attempted to press higher during the week however might not overcome resistance at the upper angle of the triangle at 0.0011 BTC. SOL/BTC has since been rejected from there to strike 0.001 BTC earlier today.

Looking ahead, if the bears break 0.001 BTC, the first significant support lies at 0.00095 BTC (.5 Fib, 20-day MA, 50-day MA, & & lower angle of the triangle). This is followed by 0.0009 BTC, 0.000873 BTC (.618 Fib), and 0.000824 BTC (100-day MA).

On the other side, the first major resistance lies at 0.0011 BTC (triangle’s upper angle). This is followed by resistance at 0.0012 BTC, 0.00126 BTC, and 0.0013 BTC.

solbtc-jul9-min
SOL/BTC Daily Chart. Source: TradingView.