Cryptocurrency Weekly Analysis

Weekly Technical Analysis of Digital Currencies June 29 (July 8)


Read the weekly technical analysis of the digital currencies of Bitcoin, Ethereum, Binance Coin, Cardano, Ripple, Dodge Coin, Polkadot, Uniswap, Bitcoin Cash and Litecoin.

Weekly technical analysis of bitcoin prices

The price of Bitcoin is once again close to its resistance at the 20-day moving average (EMA20) at $ 35,252. However, the non-surrender of buyers can be considered a positive sign. On the other hand, the Relative Strength Index (RSI) indicates that sellers may have less control over the market.

Bitcoin price chart
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If buyers can push the price above the 20-day moving average, Bitcoin could rise to a simple 50-day moving average (SMA50) at $ 38,603. It is possible to see heavy resistance at this level. However, if this resistance is broken, one can expect a jump to $ 42,451.

Sellers are likely to strongly defend the $ 42,451 resistance. If the price falls in this area, we may see a drop to the 20-day moving average. A strong jump in this support indicates that the sentiment in the market has become positive and Bitcoin has a chance to climb to 42,451.

On the other hand, if the price falls below current levels, sellers may lower the price to the support area between $ 31,000 and $ 28,000. Breaking this support could increase sales pressure and open the way for a fall to $ 20,000.

  • Resistances: 35,252 – 38,603 – 42,451
  • Supports: 31,000 – 28,000 – 20,000

Weekly technical analysis of Ethereum prices

Ethereum prices revived again on Saturday from the level of $ 1,728, which shows that we are witnessing accumulation at this level. Buyers are now trying to push Ethereum above the 20-day moving average at $ 2,178. If they succeed in doing so, there is a possibility of jumping to the downtrend line.

Ethereum Price Chart
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However, given the downward slope of the moving averages and the relative strength index (RSI) in the positive range, this does not seem to be an easy task. Traders’ failure to push prices above the 20-day moving average can boost sales pressure.

If sellers bring prices below $ 1,728, we may see sales accelerate by people who have bought on the floor and are now looking for a quick exit from the market; In this case, the bed is prepared for another fall of up to $ 1,536.

  • Resistors: 2,178 – Downward trend line
  • Supports: 1,728 – 1,536

Weekly Technical Analysis of Binance coin Price

Bainance Coin fell below the 20-day moving average on Friday, but traders failed to pull the Bainance Coin price below key support at $ 211.7. This indicates that buyers are looking to form a higher floor at $ 264.26.

Bainance Quinn price chart
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Moving averages have a downward slope and the relative strength index is in the range of $ 42, which shows that the sellers are above it. If the price falls below current levels or the 20-day moving average, sellers will try to bring Binance Coin below $ 264.26. If they succeed in doing so, we may see a fall to key support at $ 211.7.

Breaking the price below this support prepares the ground for another fall and may reduce it to $ 126.75. On the other hand, buyers’ success in raising the price above the 20-day moving average can jump to a simple 50-day moving average at $ 383 and then $ 433.

  • Resistances: 320 – 383 – 433
  • Supports: 264.26 – 211.7 – 126.75

Weekly Technical Analysis of Cardano Price

Cardano’s price has fluctuated between the 20-day moving average at $ 1.39 to $ 1.2 in recent days. This indicates that buyers are looking for a higher ceiling at $ 1.2.

Bainance Quinn price chart
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If buyers are able to push the price above the 20-day moving average, there is a possibility of jumping to the simple 50-day moving average at $ 1.58. This range is likely to act as a strong resistance; But breaking the resistance can help the price reach $ 1.94.

The 20-day moving average is flattening out and the relative strength index is above 45, indicating that buyers’ chances of a strong return to the market are high. If the price falls below $ 1.2, this downtrend will lose its validity. In this case, there is a possibility of further fall to $ 1.

  • Resistances: 1.39 – 1.58 – 1.94
  • Supports: 1.2 – 1

Dogecoin Weekly Technical Analysis

The Dogecoin failed to cross the 20-day moving average at 0.27 on Sunday, but buyers did not leave it to sellers. This shows that the sellers did not put much sales pressure in the market.

Dogecoin price chart
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If buyers do not allow the price to fall below $ 0.21, it is likely that the price of Dogecoin will reach above the 20-day moving average. In this case, we will once again see the price confrontation with the neck and shoulders pattern.

Breaking the resistance will be the first sign of a possible end to the correction. On the other hand, if the price falls below current levels and falls below $ 0.21, it will be possible to reach $ 0.15 again. Breaking this area could pave the way for another fall of up to $ 0.1.

  • Resistances: 0.27 – Head and shoulder pattern neckline
  • Supports: 0.21 – 0.15 – 0.1

Ripple Price Weekly Technical Analysis

Traders do not seem to be waiting for the Ripple price to reach the 20-day moving average at $ 0.74 to record their sell positions there. This indicates that sentiment in the market is declining and traders expect it to fall further from current levels.

Ripple price chart
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If sellers push the price below $ 0.5 psychological support, there is a possibility that the selling pressure will strengthen and fall below the downtrend support line. This area may act as a strong support, however the extent of the pullback can determine whether the reform is complete or not.

On the other hand, if buyers push the price above the $ 0.75 resistance, it can be said that they have bought at lower levels. This may increase to a simple 50-day moving average at $ 0.96 and then $ 1.07.

  • Resistances: 0.75 – 0.96 – 1.07
  • Supports: 0.5

Weekly technical analysis of Polkadot prices

The price of Polkadot is currently stuck between $ 16.93 and $ 13. The amplitude of small fluctuations and stabilization in this period has made the market situation more favorable to sellers.

Polkadot price chart
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Moving averages are currently on a downward trend and the relative strength index is in the negative range, indicating that sellers have more control over the market. A drop below $ 13 could pave the way for a fall to $ 10 and then to $ 7.5.

On the other hand, a rise in the 20-day moving average to $ 18.72 indicates accumulation at lower levels. It is possible that we will see an increase to the resistance of $ 26.5.

  • Resistances: 0.75 – 0.96 – 1.07
  • Supports: 0.5

Weekly technical analysis of Uniswap prices

The price of Uniswap has fluctuated between $ 15.1 and $ 18.6 in recent days. Buyers are currently looking to push the price above this range and the 20-day moving average at $ 19.86. It should not be forgotten that this is not an easy task.

Uniswap price chart
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Moving averages have a downward slope and the relative strength index is in the negative range, which indicates more strength of sellers. If the price falls from the resistance, it indicates that the sellers have control over the market. Falling prices from the resistance ahead cause sellers to start trying to bring the price below $ 15.

In this case, there is a possibility of reaching $ 13 again. Breaking the $ 13 support could lead to a drop of $ 10 or even $ 7.

In addition, if buyers push the price above the 20-day moving average and manage to stabilize it, there is a chance of a rally to the simple 50-day moving average at $ 25.24. This area is likely to act as a heavy resistance, but if this resistance is crossed, there will be a jump of up to $ 30.

  • Resistances: 18.6 – 25.24 – 30
  • Supports: 15.1 – 13 – 10 – 7

Weekly technical analysis of bitcoin cache prices

Buyers are currently looking to increase the price of Bitcoin Cash to $ 538.11. Since the 20-day moving average is at $ 543 and is not far from this resistance, traders should monitor it well; Hence, the sellers are trying to defend this resistance heavily.

Bitcoin Cash Price Chart
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Moving averages have a downward slope and the relative strength index is 43, which indicates that the upper hand is in the hands of sellers. If the price falls from the resistance, sellers will try again to bring the price to $ 370.

If the price recovers from this area, $ 370 will be a significant support and it can be said that in a few days we will see a fluctuation between $ 370 and $ 538.1. Breaking the $ 370 support, on the other hand, sets the stage for further falls to the next support at $ 300.

  • Resistances: 538.1-543-728
  • Supports: 370-300

Weekly technical analysis of Litecoin price

The price of Litecoin jumped to support at $ 118 on Saturday, but we saw a weakening in the strength of this jump; This indicates that there is not enough purchasing power in this area.

Litecoin Price Chart
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Moving averages have a downward night and the relative strength index is in the negative range, which indicates that sellers have more power in the market. If the price drops from the 20-day moving average to $ 148, sellers will try to push the Litecoin price to $ 118 to $ 104.92, which is a support area.

If successful, the LightCoin price completes its downward triangle pattern. Completing this pattern may result in a drop of up to $ 70. On the other hand, if buyers can push the price above the downtrend line, this downtrend will be nullified. Canceling the downtrend may mean a jump to the simple 50-day moving average at $ 166.45.

  • Resistances: 148 – 166.45
  • Supports: 118 – 104.92 – 70

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