Points
- Bitcoin rebounds, with potential to reach $70,000.
- Ether rises above the 50-day SMA, aiming for $4,000.
- BNB and Solana show bullish trends with significant resistance levels.
- XRP and Dogecoin face key support and resistance levels.
- Analysis of major cryptocurrencies indicates possible continuation of uptrends.
On July 19, Bitcoin （BTC） turned up after a mild pullback over the past two days. Data from Farside Investors shows that U.S.-based spot Bitcoin exchange-traded funds （ETFs） continued to witness inflows on July 17 and 18, signaling cautious yet positive market sentiment.
On-chain analytics firm Santiment noted that the number of Bitcoin wallet addresses holding a non-zero balance had dropped by 672,510 over the past month. Historically, such mass liquidations are generally followed by a rebound.
Bitcoin price analysis
Bitcoin’s sharp recovery stalled at $66,128 on July 17, but the bears could not sink the price below the 50-day simple moving average （SMA） of $63,806. This suggests that bulls are buying on every minor dip.
The 20-day SMA of $60,380 has started to turn up, and the relative strength index （RSI） has jumped into the positive zone, signaling that the bulls have an advantage. If the price sustains above $66,128, it will clear the path for a rally to the psychological level of $70,000. Conversely, if the price turns down and breaks below the 50-day SMA of $63,762, it will indicate that the bulls are losing their grip. The BTC/USDT pair could then plummet to the 20-day SMA, where bulls will try to arrest the decline.
Ether price analysis
Ether （ETH） has risen above the 50-day SMA of $3,441 on July 19, indicating that bulls are trying to extend the recovery. If buyers retain the price above the 50-day SMA, the ETH/USDT pair could rally to $3,730. This level is likely to attract selling by the bears, but if the bulls prevail, the pair will attempt a move to $4,000.
If the price breaks below $3,346, the pair may reach the 20-day SMA of $3,235. This is an important level for the bulls to defend because if they fail, the pair may retest the solid support at $2,850.
BNB price analysis
BNB （BNB） soared above the 50-day SMA of $586 on July 19, indicating that bulls remain in control. If the price maintains above the 50-day SMA, the BNB/USDT pair could reach $635. Bears are expected to defend this level aggressively because a failure to do so could result in a rally to $722.
Alternatively, if the price turns down sharply and breaks below the 20-day SMA of $545, it will suggest that bears are selling on rallies. The pair may then remain range-bound between $460 and $635 for some time.
Solana price analysis
Bulls have pushed Solana （SOL） above the downtrend line of the descending triangle pattern, indicating solid demand at higher levels. The 20-day SMA of $145 has started to turn up, and the RSI is in positive territory, indicating that bulls have the edge. A break and close above the downtrend line will invalidate the bearish setup. The SOL/USDT pair could climb to $180 and eventually to the stiff overhead resistance of $210.
If the price turns down and plunges below the moving averages, the pair could spend more time inside the triangle.
XRP price analysis
XRP （XRP） turned down sharply from $0.64 on July 18, indicating that bears are fiercely defending the level. The XRP/USDT pair dropped back below the breakout level of $0.57, but the long tail on the July 19 candlestick shows aggressive buying at lower levels. The moving averages are completing a bullish crossover, and the RSI is in positive territory, indicating that the path of least resistance is to the upside. If the price maintains above $0.57, bulls will again try to overcome the barrier at $0.64.
The important support to watch on the downside is $0.51. If this level gives way, the pair may plunge to the 20-day SMA of $0.49.
Dogecoin price analysis
Bears could not push Dogecoin （DOGE） above the 50-day SMA of $0.13, but a positive sign is that bulls successfully defended the 20-day SMA of $0.11. Bulls will try to push the price above the 50-day SMA. If they succeed, the DOGE/USDT pair could move to $0.15 and eventually to $0.18. Bears are expected to mount a strong defense at $0.18.
If the price turns down from the 50-day SMA, it will signal that bears are defending the level, increasing the likelihood of a break below the 20-day SMA and opening the doors for a drop to $0.10.
Toncoin price analysis
Toncoin （TON） has been consolidating in an uptrend, with the price stuck between $6.77 and $8.29 for several days. The price slipped below the 50-day SMA of $7.34 on July 16, but bears could not sink the TON/USDT pair to the support of the range at $6.77, suggesting a lack of aggressive selling at lower levels. If the price rises above the moving averages, the pair could reach $7.72, an important short-term resistance. A break above it could propel the price
to the formidable hurdle at $8.29.
Cardano price analysis
Cardano （ADA） bounced off the moving averages on July 19, indicating solid demand at lower levels. Bulls will try to resume the up move by pushing the price above the nearby resistance at $0.46. If they manage to do that, the ADA/USDT pair is likely to rise to $0.52 and thereafter to $0.57.
If bears want to prevent the up move, they will have to swiftly yank the price below the moving averages. That could trap aggressive bulls, resulting in a drop toward $0.35 and then to the support line of the channel.
Avalanche price analysis
Avalanche （AVAX） has been stuck between the moving averages for the past few days, indicating a tussle between bulls and bears. The flat 20-day SMA of $26.75 and the RSI near the midpoint do not give a clear advantage to either side. This suggests a possible range-bound action between $29 and $24 for a few days.
The first sign of strength will be a break and close above $29. Such a move will signal solid demand at lower levels. The AVAX/USDT pair could then start a relief rally to $34 and subsequently to $37.
Shiba Inu price analysis
Shiba Inu （SHIB） turned down from the breakdown level of $0.000020 on July 17 and reached the 20-day SMA of $0.000017 on July 18. If the price rebounds off the 20-day SMA, bulls will make another attempt to overcome the barrier at $0.000020. If they succeed, it will indicate the start of a stronger recovery. The SHIB/USDT pair could then start a rally to $0.000026.
If the price skids below the 20-day SMA, it will suggest that the pair may swing between $0.000020 and $0.000012 for some time. The flattish 20-day SMA and the RSI at the midpoint also point to a consolidation in the near term.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
解説
- Bitcoin: With Bitcoin’s price stabilizing above key support levels and the 20-day SMA turning upwards, there is a strong bullish sentiment in the market. If Bitcoin sustains above $66,128, it is likely to rally towards $70,000, providing momentum for other cryptocurrencies to follow suit.
- Ethereum: Ethereum’s rise above the 50-day SMA is a positive indicator, signaling that bulls are taking control. This could lead to a rally towards $4,000 if the momentum is maintained, reflecting overall market optimism.
- BNB and Solana: Both BNB and Solana show bullish trends, with significant resistance levels that, if breached, could lead to substantial price increases. These altcoins are essential to watch as indicators of broader market movements.
- XRP and Dogecoin: XRP and Dogecoin face key support and resistance levels that will determine their short-term price movements. The ability to hold above these levels will be crucial for maintaining upward momentum.
- General Market Trends: The analysis of major cryptocurrencies indicates a potential continuation of uptrends, driven by positive market sentiment and technical indicators. Investors should monitor these levels closely to make informed trading decisions.