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HomeCrypto NewsExclusive BTC, ETH, XRP, DGB, COMP, STX, XLM — Technical Analysis July...

Exclusive BTC, ETH, XRP, DGB, COMP, STX, XLM — Technical Analysis July 22


Bitcoin (BTC) is following a descending resistance line.

Ethereum (ETH) and Digibyte (DGB) have made double bottom patterns.

XRP (XRP) has damaged out from a descending resistance line.

Compound (COMP) has bounced on the $325 assist space and broke out from a descending resistance line afterwards.

Stacks (STX) is making an attempt to interrupt out from a descending resistance line.

Stellar (XLM) has damaged out from a descending resistance line after making a double backside sample.

BTC

BTC has been transferring downwards alongside a descending resistance line since June 29. 

It reached the road for the fourth time on July 21 however was rejected. The resistance line additionally coincides with the $32,925 resistance space, which is the 0.5 Fib retracement resistance stage. 

A breakout above this stage may set off a pointy upward transfer. 

If profitable in transferring above this resistance, BTC may improve in the direction of $37,278 or $42,181.

The MACD and RSI each assist the continuation of the upward motion. The MACD is sort of constructive whereas the RSI has already moved above 50.

BTC resistance
BTC Chart By TradingView

ETH

Just like BTC, ETH is following a descending resistance line. It has been doing so since June 2. 

On June 26 and July 20, it created a double backside sample near $1,720. The sample was mixed with bullish divergences within the MACD, RSI, and Stochastic oscillator. On July 21, ETH created a bullish engulfing candlestick.

The descending resistance line is presently at $2,200. A profitable breakout may take ETH to the following resistance space at $2,850.

ETH resistance
ETH Chart By TradingView

XRP

XRP has been transferring downwards beneath a descending resistance line since Could 20. 

On June 22 and July 20, it reached lows close to $0.50, making a double backside sample. The sample was mixed with bullish divergence within the MACD and RSI.

After this, XRP broke out from the resistance line.

The closest resistance space is discovered at $0.80.

XRP Divergence
XRP Chart By TradingView

DGB

DGB reached a low of $0.031 on June 21. After a big bounce, it returned near the identical stage on July 21. This created a double backside sample. The sample was mixed with bullish divergence within the MACD and RSI.

DGB started an upward transfer after this and is presently buying and selling near $0.38. 

The closest resistance space is discovered at $0.495.

DGB double bottom
DGB Chart By TradingView

COMP

COMP has been transferring upwards since June 22. It reached a excessive of $531 on July 6 earlier than falling. The downward transfer transpired beneath a descending resistance line. 

On July 20, COMP reached a low of $318 and bounced, validating the $325 space as assist. The realm can be the 0.618 Fib retracement assist stage. 

After the bounce, COMP broke out from the aforementioned descending resistance line and has been transferring upwards since. 

The upward transfer is supported by the growing MACD and RSI.

COMP resistance
COMP Chart By TradingView

STX

STX has been transferring upwards since June 22. The upward transfer continued till a excessive of $1.47 was reached on July 11. 

Since then, STX has been lowering beneath a descending resistance line. On July 20, it fell to a low of $0.77 and bounced. The bounce validated the $0.80 horizontal space as assist. 

STX has been transferring upwards since, however has been rejected by the descending resistance line and the 0.5 Fib retracement resistance stage. 

Each the MACD and RSI are growing, supporting the upward motion. 

A breakout above the present stage may set off a pointy improve.

STX descending resistance
STX Chart By TradingView

XLM

On June 22, XLM reached a low of $0.20 and bounced. This led to a excessive of $0.293 being reached on June 29. XLM returned to the identical stage on July 20, making a double backside sample. 

The rise brought on a breakout above the descending resistance line that had been in place for the reason that June 29 excessive. The legitimacy of the breakout is supported by the MACD and RSI. 

The closest resistance space is discovered at $0.285.

XLM breakout
XLM Chart By TradingView

For BeInCrypto’s newest bitcoin (BTC) evaluation, click here.

Disclaimer

All the data contained on our web site is printed in good religion and for normal info functions solely. Any motion the reader takes upon the data discovered on our web site is strictly at their very own threat.



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