If Bitcoin breaks out of the critical overhead resistances, the traders' sentiment will be boosted, and in turn they will start buying the altcoins that show promise.
BTC/USD The pullback on Bitcoin stopped at the $7,250 mark on July 21, which is a positive sign.
Our bullish view will be invalidated if the price breaks and sustains below $6,950.
ETH/USD Ethereum is finding support close to $440 but is still struggling to break out above $470. The 20-day EMA has flattened out, which increases the probability of a consolidation in the near term.
BCH/USD The bulls have successfully defended the 20-day EMA on Bitcoin Cash for the past three days, which is a positive sign.
If the pair fails to break out of the 50-day SMA, it might again correct to $745. EOS/USD EOS has been consolidating between $6.8926 and $9.4456 for the past month.
Currently, the price is close to the 20-day EMA, which has flattened out.
On the downside, if the bears break below $74.074, the virtual currency will become negative and can fall to $57. ADA/USD Cardano bounced off the 20-day EMA on July 21 the bulls are unable to break out of the overhead resistance at $0.18617.
XLM/USD Stellar successfully retested the breakout level of $0.2544 on July 21, which shows that the bulls continue buying the dips.
The probability of a breakout will remain high, as long as the price remains above the 20-day EMA. Therefore, we suggest investors hold on to their long positions.
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRON: Price Analysis, July 23
Published on Jul 23, 2018
by Cointele | Published on Coinage
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