Price analysis 7/26: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC

Bitcoin (BTC) soared from $29,482.61 on July 21 to $40,000 today, its highest level since June 16. This sharp rebound shows a possible alter in sentiment.

The bulls received a boost on Sunday, post-obit the news from an bearding source within Amazon proclaiming that the visitor is planning to accept Bitcoin payments by the terminate of 2022 and is exploring the launch of its own cryptocurrency by 2022.

This news seems to accept sent the bears scurrying to the exit, resulting in a brusk clasp. Information from Bybt shows most $one.ane billion of liquidations in 24-hours on Mon, the most since May 18. The intensity of the squeeze was such that "$111,000,000 of shorts liquidated in x minutes" according to analyst William Clemente III.

*Daily cryptocurrency market performance. Source:* *Coin360*

Although institutional adoption of digital avails is on the rise, some nevertheless view crypto only equally a speculative asset. Man Group CEO Luke Ellis said that cryptocurrencies are "a pure trading instrument" with "no inherent worth in it any. Information technology is a tulip bulb."

Can the bullish sentiment sustain and attract further buyers? Let's study the charts of the height-x cryptocurrencies to spot the critical levels on the upside and the downside.

BTC/USDT

Bitcoin closed above the 50-day simple moving average ($34,396) on July 25, which may take forced the curt-term traders to embrace their brusk positions. This could have resulted in a short clasp today, pushing the price above the overhead resistance at $36,670.

The moving averages are on the verge of a bullish crossover and the relative forcefulness alphabetize (RSI) has risen close to the overbought territory, indicating that bulls accept the upper paw.

If buyers sustain the toll higher up $36,670, the BTC/USDT pair could rally to the overhead resistance zone at $41,330 to $42,451.67 where they may encounter strong resistance from the bears.

If bulls arrest the subsequent decline above $36,670, the pair could merchandise in the upper half of the large trading range between $30,000 to $42,451.67. A break above $42,451.67 volition bespeak the possible start of a new uptrend.

This positive view will invalidate if the cost turns down and breaks beneath the moving averages. If that happens, the pair could retest the $31,000 to $28,000 support zone.

ETH/USDT

Ether (ETH) struggled nearly the $2,200 level for the past ii days but the long tail on the July 25 candlestick suggests that bulls purchased the dip. Sustained buying by the bulls has pushed the cost above the $2,200 level today.

The ETH/USDT pair could rally to the downtrend line, which may again human action as a strong resistance. If the price turns down from this resistance only rebounds off the 20-twenty-four hours EMA ($ii,081), information technology will indicate a change in sentiment. That will ameliorate the prospects of a break above the downtrend line.

A breakout and close above the downtrend line will articulate the path for a possible rally to the psychological resistance at $3,000. This bullish view will invalidate if the toll turns downwards and breaks below the xx-day EMA. Such a move will advise that the bears have not given up and continue to sell on rallies.

BNB/USDT

The bulls accept pushed Binance Coin (BNB) higher up the downtrend line and are now attempting to clear the hurdle at the 50-day SMA ($314).

The 20-day EMA has flattened out and the RSI has risen into the positive territory, indicating that the bulls are attempting a comeback. If they tin sustain the toll above the 50-twenty-four hour period SMA, the BNB/USDT pair may soar to $380 and later to $433.

On the contrary, if the toll turns down from the current level, the bears will try to sink the pair back beneath $280. If they manage to practise that, the pair could continue its down move and retest the July twenty depression at $254.52.

ADA/USDT

The long tail on Cardano'south (ADA) candlestick on July 25 showed that bulls were buying the dips rather than closing their positions near the 20-day EMA ($1.24). The momentum picked up today and bulls take propelled the price in a higher place the moving averages.

If bulls sustain the cost above the fifty-twenty-four hours SMA ($i.34), the ADA/USDT pair could rise to the downtrend line. This level could human action as potent resistance but if the bulls arrest the next pass up to a higher place the twenty-twenty-four hour period EMA, information technology will heighten the prospects of a break above the downtrend line.

If that happens, the pair could rally to $1.63 and then to $one.88. On the other hand, if the price turns down from the current level and slides below the 20-twenty-four hour period EMA, the pair could drib to $i.xiv and and then to $1.

XRP/USDT

XRP's rebound had stalled near the 20-day EMA ($0.61) for the past three days but the bulls did not dump their positions. Renewed buying has pushed the price higher up the 20-day EMA today.

The 20-twenty-four hour period EMA has flattened out and the RSI has risen above 54, indicating that bears are losing their grip. If bulls bulldoze the toll in a higher place the l-twenty-four hour period SMA ($0.68), the XRP/USDT pair could rise to $0.75.

A breakout and close above $0.75 volition consummate a double bottom pattern, which could open the doors for a rally to $one.07. Contrary to this assumption, if the toll turns downwardly from the electric current level and breaks beneath the 20-day EMA, the pair could again drop to the disquisitional support at $0.l.

DOGE/USDT

Although bears dedicated the 20-solar day EMA ($0.20) for the past three days, the bulls did not give up much basis. This suggests that bulls were not booking profits equally they were anticipating Dogecoin'south (DOGE) relief rally to continue.

The buyers take pushed the price above the overhead resistance at $0.21 today but the bears may not give upwardly easily. The sellers volition over again try to stall the recovery at the 50-day SMA ($0.24). If the cost turns downwardly from this level, the bulls will attempt to flip $0.21 into support.

If they succeed, the possibility of a break above the l-day SMA increases. Such a motility could open the doors for a likely rally to $0.28 and and then to $0.33. Conversely, if bears pull the price below the 20-day EMA, the DOGE/USDT pair could again driblet to $0.xv.

DOT/USDT

The bears tried to stall Polkadot'due south (DOT) relief rally at the 20-day EMA ($13.92) for the past three days but they could not pull the price dorsum below the $13 level. This shows that bulls were buying on every pocket-sized dip.

The bulls have pushed the price higher up the xx-day EMA today and the DOT/USDT pair could now rally to the overhead resistance at $16.93. This level may act as stiff resistance and if the price turns down from it, the pair could once again driblet to $13.

On the contrary, if bulls bulldoze the toll above $16.93, it will suggest that the markets have rejected the lower levels. The pair could so showtime its northward march to $20 and later to the stiff overhead resistance at $26.l.

UNI/USDT

Uniswap's (UNI) recovery has reached the downtrend line of the descending triangle pattern where bears may mount a potent resistance. If the price turns down from this level and breaks below the twenty-day EMA ($18.17), it volition propose that bears are aggressively selling at higher levels.

The RSI has climbed into the positive territory and the twenty-mean solar day EMA has flattened out, suggesting that the selling pressure is reducing. If bulls button and sustain the price above the downtrend line, the bearish design volition be invalidated.

That could attract further ownership, opening the doors for a rally to $25. If bulls tin can clear this hurdle, the UNI/USDT pair could rally to $30 where bears may pose a potent claiming.

Related: Here'southward how much Musk and Saylor's tweets influenced crypto prices in Q2

BCH/USDT

Later on struggling near the 20-twenty-four hours EMA ($465) for the past ii days, Bitcoin Cash (BCH) has resumed its recovery today. The altcoin could at present ascent to the overhead resistance at $538.11 where the bears may mount a stiff resistance.

The RSI has risen above 55 and the twenty-day EMA has flattened out, suggesting a balance betwixt supply and need. A breakout and close above $538.11 will tilt the advantage in favor of the bulls equally the BCH/USDT pair will consummate a double lesser pattern.

This bullish setup has a target objective at $706.22. Alternatively, if the toll turns down from $538.11, the pair may drop to the 20-mean solar day EMA. If the price rebounds off this level, the bulls will again try to push the price above the overhead resistance. A break below the 20-24-hour interval EMA could pull the price to $370.

LTC/USDT

The bears attempted to stall Litecoin's (LTC) relief rally near the 20-twenty-four hour period EMA ($127) for the past 2 days but the bulls were in no mood to relent. They held their ground and pushed the price to a higher place the 20-twenty-four hour period EMA today.

The RSI has risen into the positive zone and the xx-mean solar day EMA has flattened out, indicating that bears are losing their grip. If bulls drive and sustain the price to a higher place the 50-day SMA ($139), the LTC/USDT pair could endeavour a rally to $180.

If the price turns down from the 50-twenty-four hours SMA simply does non break below the twenty-day EMA, it volition suggest that the sentiment has turned positive and traders are buying on dips. The bears will have to sink the price below the 20-day EMA to proceeds the upper mitt.

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 substitution.