Price Analysis 7/29: BTC, ETH, XRP, BCH, BSV, ADA, LTC, CRO, BNB, EOS

Price Analysis 7/29: BTC, ETH, XRP, BCH, BSV, ADA, LTC, CRO, BNB, EOS. Bitcoin and most altcoins could consolidate for a couple of days before …

Bitcoin (BTC) trading volumes in spot and derivatives markets have been surging since the digital asset rallied above the $10,000 level earlier this week. Bakkt reported record Bitcoin futures volume on July 28 and 29, which indicates that the traders who had been waiting for a trending move to start have established fresh positions.

A similar volume increase was seen in the Chicago Mercantile Exchange (CME) and the other crypto exchanges that offer futures trading.

A breakout that is followed by an increase in activity and higher open interest is usually a positive sign as it shows that the traders expect higher prices in the next few days.

However, traders should be careful and keep a close watch on the price action because if the rally fizzles out Bitcoin might trap a number of bulls, leading to long liquidation.

Daily cryptocurrency market performance. Source: Coin360

Daily cryptocurrency market performance. Source: Coin360

Nigel Green, the CEO and founder of financial consultancy firm deVere Group, believes that Bitcoin could replace gold as the ultimate safe haven asset as “the world becomes more tech-driven.” The escalating tension between the US and China could act as one of the triggers for investors to shift from traditional markets to “decentralized, non-sovereign, secure digital currencies.”

BTC/USD

Bitcoin (BTC) surged above the critical overhead resistance zone of $10,000–$10,500 on July 27 and hit an intraday high of $11,377.55, which shows aggressive buying by the bulls and short covering by the bears.

BTC/USD daily chart. Source: TradingView

BTC/USD daily chart. Source: TradingView

The BTC/USD pair witnessed profit booking on July 28, which dragged the price to $10,569 but the bears could not sustain the lower levels and by close (UTC time) the price had recovered to $10,910.32. This suggests strong demand at lower levels.

If the bulls can push the price above $11,377.55, the uptrend is likely to resume. There is a minor resistance close to $11,870.50 but if this level is crossed, the uptrend can extend to $14,000.

The 20-day exponential moving average ($9,840) has turned up and the relative strength index is in the overbought zone, which suggests that the bulls are in command.

This bullish view will be negated if the price turns around from the current levels and plummets back below the $10,500–$10,000 zone.

ETH/USD

Ether (ETH) turned down from $332.931 on July 27 as short-term traders decided to book profits following the blistering rally of the past few days. However, the correction could not even reach the 38.2% Fibonacci retracement level of the latest leg of the rally, which suggests strong demand on dips.

ETH/USD daily chart. Source: TradingView​​​​​​​

ETH/USD daily chart. Source: TradingView

The bulls will now attempt to resume the uptrend by pushing the second-ranked cryptocurrency on CoinMarketCap above $332.931. If they succeed, the uptrend can reach $366 and if this level is also scaled, the next target is $480.

Contrary to this assumption, if the ETH/USD pair again turns down from close to $332.931 resistance, it can decline to $288.599–$284.261 support zone. The bulls are likely to defend this zone aggressively. If the price sustains above this zone, the possibility of the resumption of the uptrend is high.

XRP/USD

XRP rebounded off the neckline of the inverse head and shoulders pattern on July 27, which is a positive sign as it suggests that the bulls are accumulating on dips.

XRP/USD daily chart. Source: TradingView

XRP/USD daily chart. Source: TradingView

The buyers will now try to push the fourth-ranked cryptocurrency on CoinMarketCap to $0.25. This level is likely to attract aggressive selling by the bears as they try to stall the up move. This may result in a minor correction or consolidation.

If the bulls do not give up much ground, then it will increase the possibility of a breakout above $0.25 and rally to the next target objective of $0.284. This bullish view will be invalidated if the bears sink the XRP/USD pair back below the neckline of the setup.

BCH/USD

Bitcoin Cash (BCH) broke above $280.47 on July 28 after spending about four months in a consolidation. This is a positive sign as this suggests that the bulls have finally overpowered the bears.

BCH/USD daily chart. Source: TradingView​​​​​​​

BCH/USD daily chart. Source: TradingView

If the bulls can sustain the price above $280.47 for three days, it will confirm the breakout and could result in the start of a new uptrend, with the first target objective at $360 and then $400.

However, the bears are likely to have other plans. They will try to sink the fifth-ranked cryptocurrency on CoinMarketCap back below $280.47. If that happens, it will suggest that the current breakout was a bull trap.

BSV/USD

Bitcoin SV (BSV) has reached the resistance of the $146.20–$227 range for the first time since April 30. The bears are likely to defend the $227 level aggressively.

BSV/USD daily chart. Source: TradingView​​​​​​​

BSV/USD daily chart. Source: TradingView

If the sixth-ranked cryptocurrency on CoinMarketCap turns down from the current levels and slides below $200, it will suggest a lack of buyers at higher levels. Such a move could extend the range-bound action for a few more days.

The 20-day EMA ($189) has started to slope up and the RSI has risen into the overbought zone, which suggests that the bulls are attempting to make a comeback.

A breakout and close (UTC time) above $227 will indicate the possible start of a new uptrend that has a target objective of $308.

ADA/USD

Cardano (ADA) has been consolidating between $0.13–$0.15 range for the past three days, which shows that the bears are trying to stall the uptrend while the bulls are attempting to absorb all the selling and extend the up move.

ADA/USD daily chart. Source: TradingView​​​​​​​

ADA/USD daily chart. Source: TradingView

While the upsloping moving averages suggest an advantage to the bulls, the bearish divergence on the RSI points to weakening momentum.

A breakdown and close (UTC time) below the 20-day EMA ($0.128) will be the first sign that the bulls are losing their grip. Below this level, the seventh-ranked cryptocurrency on CoinMarketCap can drop to $0.11.

Conversely, if the bulls can propel the ADA/USD pair above the $0.15–$0.1543051 resistance, the uptrend is likely to resume with the next target at $0.173.

LTC/USD

Litecoin (LTC) soared above $51 on July 27, which indicates a change in trend from consolidation to an uptrend. The first target objective of this new uptrend is $64.

LTC/USD daily chart. Source: TradingView​​​​​​​

LTC/USD daily chart. Source: TradingView

However, the sharp move of the past few days has pushed the RSI deep into the overbought territory, which suggests that a minor correction or consolidation is possible.

On the downside, the critical support to watch out for is $51. If the eighth-ranked cryptocurrency on CoinMarketCap rebounds off this level, it will confirm that the sentiment has turned bullish and the buyers are accumulating on dips.

A successful retest of a breakout level offers an opportunity for traders to initiate long positions if they missed buying the breakout.

It is better to wait for the price to rebound before considering a purchase because sometimes the breakout turns out to be false and the price traps the aggressive bulls.

CRO/USD

Crypto.com Coin (CRO) surged on July 27 to a high of $0.169481, which was close to the target objective of $0.174114. This attracted profit booking on July 28 but the positive thing is that the altcoin did not break below the $0.15306 support.

CRO/USD daily chart. Source: TradingView​​​​​​​

CRO/USD daily chart. Source: TradingView

Generally, in strong uptrends, the corrections do not last for more than three to five days. Currently, the bulls are attempting to resume the uptrend, which is likely to pick up momentum above $0.169481.

If the bulls can scale the ninth-ranked cryptocurrency on CoinMarketCap above $0.174114, a rally to $0.20 is possible. The trend remains strong with the moving averages rising up and the RSI in the overbought zone.

A break below $0.15306 will be the first sign of weakness and a decline below the 20-day EMA ($0.148) will indicate a possible short-term top.

BNB/USD

Binance Coin (BNB) rebounded sharply from the breakout level of $18.20 on July 27, suggesting that the bulls aggressively bought this dip. The 20-day EMA ($18.48) has started to slope up and the RSI is close to the overbought zone, which indicates advantage to the bulls.

BNB/USD daily chart. Source: TradingView​​​​​​​

BNB/USD daily chart. Source: TradingView

The first target on the upside is a rally to $22.93, which is the pattern target of the breakout from the ascending triangle. If this level is crossed, the tenth-ranked crypto-asset on CoinMarketCap can rally to $24.

This bullish view will be invalidated if the bears sink the BNB/USD pair below the critical support at $18.20.

EOS/USD

EOS broke above the $2.83 resistance on July 27 and has reached the $3.1104 resistance for the first time since April 30. This suggests that the bulls are attempting to make a comeback.

EOS/USD daily chart. Source: TradingView​​​​​​​

EOS/USD daily chart. Source: TradingView

The RSI has risen into the overbought zone and the 20-day EMA has started to turn up gradually, suggesting a mild advantage to the bulls. A close (UTC time) above $3.1104 will signal the possible start of a new up move that can rally to $3.8811.

However, the bears are unlikely to give up without a fight. If the 11th-ranked cryptocurrency on CoinMarketCap turns down from $3.1104, it could drop to $2.83 and consolidate between these levels for a few days.

Also, don’t miss our upcoming conference Cointelegraph Crypto Traders Live.

More than 30 star speakers including Raoul Pal, John Bollinger, Mike Novogratz, DataDash and Jon Najarian will gather on July 30th to discuss the challenges of crypto trading. Join the show for over 9 hours of crypto trading content!

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

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Direct Line Insurance Group Plc (DLG.L) Stock Turns -2.8% Lower For Week

Shares of Direct Line Insurance Group Plc (DLG.L) have been trending lower over the past five bars, revealing bearish momentum for the shares, …

Shares of Direct Line Insurance Group Plc (DLG.L) have been trending lower over the past five bars, revealing bearish momentum for the shares, as they ran -2.8% for the week. Looking further out we note that the shares have moved -0.95% over the past 4-weeks, 8.15% over the past half year and 9.12% over the past full year.

It is no secret that most investors have the best of intentions when diving into the equity markets. Making sound, informed decisions can help the investor make the most progress when dealing with the markets. Often times, investors may think they have everything in order, but they still come out on the losing end. Investors may need to figure out ways to keep emotion out of stock picking. Sometimes trading on emotions can lead to poor results. Making hasty decisions and not paying attention to the correct data can lead to poor performing portfolios in the long-term.

We can also take a look at the Average Directional Index or ADX of Direct Line Insurance Group Plc (DLG.L). The ADX is used to measure trend strength. ADX calculations are made based on the moving average price range expansion over a specified amount of time. ADX is charted as a line with values ranging from 0 to 100. The indicator is non-directional meaning that it gauges trend strength whether the stock price is trending higher or lower. The 14-day ADX presently sits at 14.45. In general, and ADX value from 0-25 would represent an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would indicate a very strong trend, and a value of 75-100 would signify an extremely strong trend. At the time of writing, Direct Line Insurance Group Plc (DLG.L) has a 14-day Commodity Channel Index (CCI) of 46.59. Developed by Donald Lambert, the CCI is a versatile tool that may be used to help spot an emerging trend or provide warning of extreme conditions. CCI generally measures the current price relative to the average price level over a specific time period. CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average.

Direct Line Insurance Group Plc (DLG.L) currently has a 14 day Williams %R of -18.79. In general, if the level goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may signal that the stock is oversold. The Williams Percent Range or Williams %R is a technical indicator that was developed to measure overbought and oversold market conditions. The Williams %R indicator helps show the relative situation of the current price close to the period being observed.

A commonly used tool among technical stock analysts is the moving average. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. Moving averages can be very helpful for identifying peaks and troughs. They may also be used to assist the trader figure out proper support and resistance levels for the stock. Currently, the 200-day MA for Direct Line Insurance Group Plc (DLG.L) is sitting at 293.04. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of stock price movements. The RSI was developed by J. Welles Wilder, and it oscillates between 0 and 100. Generally, the RSI is considered to be oversold when it falls below 30 and overbought when it heads above 70. RSI can be used to detect general trends as well as finding divergences and failure swings. The 14-day RSI is presently standing at 59.81, the 7-day is 58.93, and the 3-day is resting at 30.84.

Investors looking to chalk up healthy returns in the stock market may need to pay attention to avoid common pitfalls. When the good times are rolling, investors may be highly tempted to move a lot of money into certain stocks that have been churning out returns. One problem with this approach is that a stock that has been hot for a few months might not be hot over the next three months. It is always important to remember that past performance does not guarantee future results. Getting into a stock too late may leave the average investor pounding the table as a former winner turns into a current loser.

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WisdomTree Commodity Securities Ltd WisdomTree Natural Gas (NGAS.L) Bulls Drive the Shares …

WisdomTree Commodity Securities Ltd WisdomTree Natural Gas (NGAS.L) shares are showing positive signals short-term as the stock has finished …

WisdomTree Commodity Securities Ltd WisdomTree Natural Gas (NGAS.L) shares are showing positive signals short-term as the stock has finished higher by 0.0005% for the week. In taking a look at recent performance, we can see that shares have moved 3.91% over the past 4-weeks, 15.65% over the past half year and -10.74% over the past full year.

Investors might be looking to sharpen the gaze and focus on recent market action. As we move into the second part of the year, everyone will be watching to see which way the stock market momentum shifts. Many believe that the bulls are still charging while others feel like the bears may be waiting in the wings. There are various schools of thought when it comes to trading stocks. Investors may have to first asses their appetite for risk in order to start creating a solid investment plan.

Currently, WisdomTree Commodity Securities Ltd WisdomTree Natural Gas (NGAS.L) has a 14-day Commodity Channel Index (CCI) of 31.71. The CCI technical indicator can be employed to help figure out if a stock is overbought or oversold. CCI may also be used to aid in the discovery of divergences that could possibly signal reversal moves. A CCI closer to +100 may provide an overbought signal, and a CCI near -100 may offer an oversold signal.

Tracking other technical indicators, the 14-day RSI is presently standing at 52.60, the 7-day sits at 60.27, and the 3-day is resting at 78.85 for WisdomTree Commodity Securities Ltd WisdomTree Natural Gas (NGAS.L). The Relative Strength Index (RSI) is a highly popular technical indicator. The RSI is computed base on the speed and direction of a stock’s price movement. The RSI is considered to be an internal strength indicator, not to be confused with relative strength which is compared to other stocks and indices. The RSI value will always move between 0 and 100. One of the most popular time frames using RSI is the 14-day.

Moving averages have the ability to be used as a powerful indicator for technical stock analysis. Following multiple time frames using moving averages can help investors figure out where the stock has been and help determine where it may be possibly going. The simple moving average is a mathematical calculation that takes the average price (mean) for a given amount of time. Currently, the 7-day moving average is sitting at 0.0126.

Let’s take a further look at the Average Directional Index or ADX. The ADX measures the strength or weakness of a particular trend. Investors and traders may be looking to figure out if a stock is trending before employing a specific trading strategy. The ADX is typically used along with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) which point to the direction of the trend. The 14-day ADX for WisdomTree Commodity Securities Ltd WisdomTree Natural Gas (NGAS.L) is currently at 14.59. In general, and ADX value from 0-25 would represent an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would signify a very strong trend, and a value of 75-100 would point to an extremely strong trend.

Some stock market investors may abide to the saying, nothing ventured nothing gained. Others may operate by following the saying slow and steady wins the race. The correct move for one investor may not be the same for another. Some may choose to go all in, while others may look to reduce risk with stable long-term staple companies. Active equity investors may be forced to make hard decisions at some point, but working hard and being prepared may prove to be a portfolio booster. Dedicated investors are often willing to put in the extra hours in order to make sure no stone is left unturned.

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Tale of The Tape: Technical Recap on Infosys Ltd ADR (INFY)

Infosys Ltd ADR (INFY) currently has a 14-day Commodity Channel Index (CCI) of 59.75. Active investors may choose to use this technical indicator as …

Checking on current RSI levels on shares of Infosys Ltd ADR (INFY), the 14-day RSI is currently standing at 78.15, the 7-day is at 78.45, and the 3-day is resting at 64.28. Relative Strength Index (RSI) is a frequently used technical analysis tool. RSI helps measure changes in price movement of a specific equity. RSI is a momentum oscillator that moves in a range from 0 to 100. RSI is generally used to interpret whether a stock is overbought or oversold. As a general rule, an RSI over 70 may indicate an overbought situation. On the other end of the spectrum, a reading under 30 may indicate an oversold situation.

Infosys Ltd ADR (INFY) currently has a 14-day Commodity Channel Index (CCI) of 59.75. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

Shares of Infosys Ltd ADR (INFY) have a 200-day moving average of 9.76. The 50-day is 9.87, and the 7-day is sitting at 12.35. Using a bigger time frame to assess the moving average such as the 200-day, may help block out the noise and chaos that is often caused by daily price fluctuations. In some cases, MA’s may be used as strong reference points for spotting support and resistance levels.

The Average Directional Index or ADX is technical analysis indicator used to describe if a market is trending or not trending. The ADX alone measures trend strength but not direction. Using the ADX with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) may help determine the direction of the trend as well as the overall momentum. Many traders will use the ADX alongside other indicators in order to help spot proper trading entry/exit points. Currently, the 14-day ADX for Infosys Ltd ADR (INFY) is 40.12. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend. The Williams Percent Range or Williams %R is another technical indicator that may be useful for traders and investors.

The Williams %R is designed to provide a general sense of when the equity might have reached an extreme and be primed for a reversal. As a general observance, the more overbought or oversold the reading displays, the more likely a reversal may take place. The 14 day Williams %R for Infosys Ltd ADR (INFY) is noted at -11.86. Many consider the equity oversold if the reading is below -80 and overbought if the indicator is between 0 and -20.

Investors may be looking for the next positive catalyst to create a solid breakout. Some may be wondering when the party will end, and it remains to be seen if excess and profit-taking rotation may create any pullbacks in the upcoming quarter. Investors may have to make a decision whether to ease-up or stay aggressive. Investors may also be closely watching winners and losers, especially in the technology sector. Understanding and researching the space may be highly important when managing the investment portfolio. The key for investors will be to try and locate the winners in the space and find the companies that are either creating new technology or adapting to it rapidly.

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Is Uber Technologies Inc (UBER) Ready For a Move? Technicals in Focus

Traders are taking a closer look at shares of Uber Technologies Inc (UBER) of late. The 14-day RSI is presently at 44.33, the 7-day is at 38.18, and the …

Traders are taking a closer look at shares of Uber Technologies Inc (UBER) of late. The 14-day RSI is presently at 44.33, the 7-day is at 38.18, and the 3-day is resting at 19.34. The Relative Strength Index (RSI) is one of various popular technical indicators developed by J. Welles Wilder. Wilder introduced RSI in his publication “New Concepts in Technical Trading Systems” which was released in 1978. RSI measures the magnitude and velocity of directional price movements. The data is represented graphically by fluctuating between a value of 0 and 100. The indicator is computed by using the average losses and gains of a stock over a certain time period. RSI can be used to help spot overbought or oversold conditions. An RSI reading over 70 would be considered overbought, and a reading under 30 would indicate oversold conditions. A level of 50 would indicate neutral market momentum.

In terms of CCI levels, Uber Technologies Inc (UBER) currently has a 14-day Commodity Channel Index (CCI) of -162.91. Investors and traders may use this indicator to help spot price reversals, price extremes, and the strength of a trend. Many investors will use the CCI in conjunction with other indicators when evaluating a trade. The CCI may be used to spot if a stock is entering overbought (+100) and oversold (-100) territory. The 14-day ADX is 13.92. Many technical chart analysts believe that an ADX reading over 25 would suggest a strong trend. A level under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.

Investors may be studying other technical indicators like the Williams Percent Range or Williams %R. The Williams %R is a momentum indicator that helps measure oversold and overbought levels. This indicator compares the closing price of a stock in relation to the highs and lows over a certain time period. A common look back period is 14 days. Uber Technologies Inc (UBER)’s Williams %R presently stands at -82.21. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would indicate an overbought situation. A reading from -80 to -100 would indicate an oversold situation. Looking at some moving average levels, the 200-day is at 31.37, the 50-day is 33.22, and the 7-day is sitting at 32.45. Moving averages can help identify trends and price reversals. They may also be used to help spot support and resistance levels. Moving averages are considered to be lagging indicators meaning that they confirm trends. A certain stock may be considered to be on an uptrend if trading above a moving average and the average is sloping upward. On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward.

Under recent market conditions, it may be quite difficult to be overly bearish. Most signs seem to be pointing in the right direction as investors keep concentrating on superior returns from the stock market. At this point in time, investors may have to make the tough decision whether to be fully invested in the stock market, or keep some cash handy on the sidelines. As we have seen, there will be a few days or weeks where market action may spur some second guessing, but the bulls seem they are still going to keep running. Many investors may be crafting plans for when the good times inevitably come to an end. Being prepared for market changes may help weather the storm when it comes.

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