The 20-day moving average is flat but the relative strength index (RSI) has risen to positive territory, indicating that the momentum is in the favor of buyers. The bulls will now attempt to overcome the $23,363 barrier.
If the price falls from this level but bounces off the breakout level of the triangle, it will suggest buying at lower levels. This could increase the likelihood of a break above $23,363. The pair may then rise to the pattern target at $28171.
Conversely, if the price fails to hold above the triangle, it will indicate that the bears are aggressively defending the upper area between the triangle resistance line and $23,363. This pair may stay inside the triangle for a few more days.
ETH / USDT
Ether broke and closed above the upper resistance at $1,280 on July 16, which completed the ascending triangle formation. unrelenting.
ETH/USDT daily chart. Source: TradingView
Buyers resumed buying on July 18, pushing the price above $1,500. This indicates the start of a new uptrend. ETH/USDT could rise to the general resistance at $1,700 as the bears could pose a strong challenge.
If the next correction is halted at the 20-day EMA ($1234), it would signal that sentiment has shifted from selling on the rallies to buying on the dips. That could boost the odds of a break above $1,700.
This positive opinion could be invalidated in the short term if the price falls and slips below the 20 day moving average. This may pull the pair to the triangle support line.
BNB / USDT
BNB rose above the 20-day moving average ($238) on July 14 and cleared the upper barrier at the 50-day moving average ($247) on July 16. Bears attempted to pull the price below the 50-day simple moving average on July 17th but the bulls held their ground.
BNB/USDT daily chart. Source: TradingView
The BNB/USDT pair resumed its upward movement on July 18, indicating that a bottom may have been formed at $183. The 20-day moving average has started to rise and the RSI is in positive territory, indicating that the bulls are in control.
If the price continues above the 50-day simple moving average, the pair may rise to $300 and then try to move up to $350. This level is likely to act as severe resistance.
This positive opinion could be invalidated in the short term if the price drops and breaks below the 20 day moving average. This pair could push up to $211.
XRP / USDT
Ripple (XRP) broke above the downtrend line on July 16 but the bears halted the relief rally at the 50-day simple moving average ($0.35). Sellers attempted to pull the price below the 20-day moving average ($0.34) on July 17, but the bulls did not budge and bought the dip.
XRP/USDT daily chart. Source: TradingView
The 20-day moving average started to rise gradually and the RSI jumped to the positive territory, indicating the advantage of the bulls.
XRP/USDT crossed the upper barrier at the 50-day SMA on July 18th, invalidating the descending triangle pattern. If the bulls maintain the price above the 50-day simple moving average, the pair could gain momentum and rally to $0.45.
To negate this uptrend, the bears will have to pull the pair back into the triangle. Such a move could lock in aggressive bulls and plunge the pair into the important support level at $0.30.
ADA / USDT
After struggling to push Cardano (ADA) above the 20-day EMA ($0.46), the bulls finally managed to hit the feat on July 18. The price reached the 50-day simple moving average ($0.50), which could act as a strong resistance.
ADA/USDT daily chart. Source: TradingView
The RSI is in positive territory indicating that the momentum is in favor of the buyers. If the bulls push the price above the 50-day SMA, the ADA/USDT could rise to $0.60 and then push towards the extreme resistance at $0.70.
Alternatively, if the bulls fail to keep the price above the 50-day SMA, it will signal that the bears continue to sell aggressively on the rallies. The pair could then return towards the critical support zone between $0.44 and $0.40.
SOL / USDT
Solana (SOL) broke through the symmetrical triangle pattern on July 16, indicating that the uncertainty has been resolved in favor of buyers. Bears attempted to pull the price back into the triangle on July 17th but the bulls held.
SOL/USDT daily chart. Source: TradingView
The SOL/USDT pair is attempting to rise above the immediate resistance at $43. If that happens, the pair may rise to the psychological level of $50. This level may act as an obstacle but if it is exceeded, the upward movement could reach $60.
On the contrary, if the price drops from $43 and breaks below the moving averages, the pair may drop to the support line. A breakout and a close below this level could signal the bears’ return to the game.
DOGE / USDT
Dogecoin (DOGE) is trying to form a higher bottom at $0.06, and the bulls are trying to push the price above the extreme resistance at the 50-day simple moving average ($0.07).
DOGE/USDT daily chart. Source: TradingView
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