According to data from Glassnode, Bitcoin rose by 20% in the second quarter of this year. Despite the growth, most investors still appear not to be interested in booking profits.
Will BTC and other crypto assets continue to rise? We will find out after analyzing various charts.
Bitcoin Price Analysis
Buyers finally managed to thrust Bitcoin above $31,000 on Monday. The coin traded above that level until Tuesday morning, when it dropped slightly. BTC is currently priced at $30,914, above the 20-day EMA (Exponential Moving Average) of $29,325. Also, the RSI (Relative Strength Index) hasn’t touched the overbought region yet. So this means the bulls still have the upper hand. If they stage a rally now, Bitcoin may retest $32,340.
On the contrary, the bears need to sink the coin below $29,325 to cause a significant downtrend. If they achieve that, Bitcoin may drop to the 50-day SMA (Simple Moving Average) of $27,658.
Ethereum Price Analysis
ETH hit support at the 20-day EMA of $1,867 on Sunday. The token would later bounce off from that level as buy began buying the dip. Ethereum is now priced at $1,949. The bulls aim to stage another rally toward the $2,126 resistance level. We anticipate a massive sell-off at this price.
However, this assumption won’t hold if the bears pull ETH below $1,867. The token is likely to reach $1,748 if it falls past that level.
BNB Price Analysis
After trading above the 20-day EMA of $246 over the weekend, BNB has dropped to $242 as of this writing, indicating increasing selling pressure. The token may continue dropping to reach the $224 crucial support level. However, if the bulls thrust and sustain BNB’s price above $246, it may rally to $263.
XRP Price Analysis
XRP’s current price ($0.4872) is slightly above the 20-day EMA of $0.4813. If bulls protect the token from sliding below $0.4813 in the next few days, then a rally to $0.5379 and subsequently to $0.5825 could be likely. Conversely, we anticipate a sharp fall to the $0.4166 support level if XRP plunges below the 20-day EMA.
Cardano Price Analysis
Over the last few days, the bulls have been trying to get Cardano to retest $0.3047 since it plummeted below the level at the end of June. ADA is trading for $0.2937 at press time. The current price is above the 20-day EMA of $0.2906. This means the bulls still have a slight advantage over the bears and may soon thrust ADA past $0.3047, then stage a rally to $0.3375.
On the contrary, if the buyers are unable to drive Cardano above $0.3047, the token may touch the $0.2437 support level.
Dogecoin Price Analysis
DOGE retested $0.0743 on the first day of this month, then started a downtrend to reach $0.0694 as of this writing. If the dog-themed meme coin continues to fall, it may hit the $0.0658 support level. On the positive side, if the bulls take Dogecoin above $0.0743 and protect it from declining below this level again, it will enhance the chance of a rally to $0.0830.
Solana Price Analysis
SOL is priced at $19.44, above the 20-day EMA of $17.59. Moreover, the RSI has not entered the overbought zone. This means there is a possibility of a continued upward movement that may lead to Solana’s price crossing above the downtrend line. The token may reach $23 if this happens.
On the negative side, a drop to $16.17 is another possibility if Solana sinks below $17.59.
Litecoin Price Analysis
The bulls defeated the bears at the $107 resistance level last Thursday and sustained LTC above that level until today, when it dropped to $105. This suggests that short-term traders have begun booking profits. Litecoin could reach the 20-day EMA of $92 if the selling pressure continues. On the upside, a rise to $137 is possible in case buyers sustain the token above $107.
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