Bitcoin (BTC) and most major altcoins are seeing profits on July 25 as the Bulls adjust their positions prior to the Federal Open Market Committee meeting on July 26-27. increase. This suggests that emotions remain vulnerable and the Bulls are not confident that they will be in the event for a long time.
Some analysts continued to be bearish after Bitcoin broke above the 200-week moving average of $ 22,780. CryptoQuant contributor Venturefounder expects sales to resume and Bitcoin to drop to $14,000 before seeing the bottom of the macro.
The institutional investors appear to be absent from the market and recovery is being driven by individual investors. Data from on-chain analytics firm Glassnode shows that investors holding less than 1 Bitcoin are “more aggressively” accumulating.
Can individual investors continue their desperate buying pace and set up floors under Bitcoin and Altcoin? Take a look at the top 10 cryptocurrency charts.
Bitcoin recovered from the 20-day Moving Average (EMA) ($21,857) on July 23, but the Bulls failed to clear the hurdle at $23,363 on July 24. This suggests that bears are actively defending overhead resistance.
The price has returned to the 20-day EMA. This is an important level to note. If this level is breached, the BTC / USDT pair could drop to $20,750. Such movements disable the breakout of the symmetric triangle.
The 20-day EMA has leveled off and the Relative Strength Index (RSI) has fallen to the midpoint, indicating a balance between supply and demand.
If the price of exceeds $23,363, this advantage may be in the buyer’s favor. In that case, the pair could rise to $28,171 and then to $30,000. The bears will have to press the price below the support line to gain the upper hand.
The Bears have successfully defended overhead resistance for $1,700 over the past few days. But the small positive point is that the Bulls do not allow Ethereum (ETH) to fall below $1,464. This suggests a lower level of purchase.
If the price rebounds from $1,464, the ETH / USDT pair may continue its tight rangebound action for a few more days. The 20-day rise in the EMA ($1,397) and the RSI in the positive territory show that the least resistant path is on the way.
Breaks and closes in excess of $ 1,700 can indicate a resumption of upward movement. After that, the pair can rise to $2,000.
This bullish view can be invalidated if prices fall below the 20-day EMA. In that case, the pair could go down to $1,280. With a strong recovery from this level, the range of the pair could stay in the range of $ 1,280 to $ 1,700 for several days.
BNB fell from the downtrend line on July 23, indicating that the bears continue to strongly defend this level. The bears will now try to fall below the moving average.
If successful, the BNB / USDT pair can test the support line for the ascending channel. If the price bounces off this level, the bulls will again push the pair above the downtrend line and try to challenge the channel resistance line.
Another possibility is for bears to sink prices below the channel support line. If that happens, the advantage turns in favor of the bear and the pair could fall into strong support at $211.
Ripple (XRP) has been integrated between $0.30 and $0.39 for the past few days. Prices bounced off the moving average on July 23, but the rally failed to reach overhead resistance at $0.39. This suggests that demand is depleted at a higher level.
Bears are trying to lower prices below the moving average. If they are successful, the XRP / USDT pair may gradually decline towards $ 0.30. Buyers are likely to stick to this level with all their might as if support was interrupted, and the pair may resume the downtrend.
Or, if the price bounces off its current level, the Bulls will clear the overhead barrier at $0.39 and try to start a new rise. After that, the pair can rise to $0.50.
Cardano (ADA) managed to break above the resistance above $0.55 on July 24 but the bears successfully defended this level. That may have attracted profit reservations from short-term traders.
Bears are trying to lower prices below the moving average. If they succeed, the ADA / USDT pair can drop to $0.44. If the price bounces off this level, the pair can fluctuate between $0.44 and $0.55 for several days. Another possibility is that prices are bouncing off the moving average. If that happens, the Bulls will again try to push the pair above the overhead resistance. If successful, the pair could gain momentum, rising to $0.63 and then $0.70.
Solana’s inability to recover from the 20-day EMA ($39) suggests that the rally may be weakening. The bears will try to push the price down the support line, which is an important level to watch.
If the price recovers from the support line, the buyer will make another attempt to push the SOL / USDT pair towards the $48 overhead resistance. The bull must clear this hurdle to signal the completion of the rising triangular pattern. This bullish setup has a $71 target.
Conversely, when bears fall below the support line, the bullish pattern is counteracted. After that, the pair could go down to $30. Below this level indicates that the bear has regained control.
The bears pulled Dogecoin (DOGE) below the moving average on July 25, which opened the door to a decline in the trendline. The bulls will likely actively defend this level.
If prices recover from the trendline, bulls will try to push the DOGE / USDT pair above the moving average. In that case, the pair could recover to overhead resistance for $0.08. Breaking and closing beyond this level completes an upward triangular pattern targeting $ 0.11.
Conversely, if the price falls below the trend line, the bullish setting will be disabled. It could sink the pair to $0.06 and later to the main support of $0.05.
The bulls have consistently failed to push Polkadot (DOT) above the 50-day SMA ($7.47) over the past few days, suggesting that the bears are strongly defending this level.
The DOT / USDT pair fell below the 20-day EMA ($ 7.23) on July 25th. If the bear keeps prices below this level, the pair could slide towards strong support of $6. This is an important level to watch out for as a break, and closing below it can indicate a resumption of the downtrend.
Another possibility is that the price will rise from the current level and exceed the 50-day SMA. In this case, the demand is displayed at a lower level. The pair can then rise to $8.79 and then to the psychological $10 level.
Polygon (MATIC) fell off the resistance line on July 25, indicating that the bears were selling in small rebounds. The bears will try to reduce the price to the next support level at $0.75.
The rising 20-day EMA ($ 0.75) and the RSI in the positive territory suggest that the buyer has a slight advantage. If the price recovers above $ 0.75, the Bulls will try again to push the MATIC/USDT pair above the resistance line.
If they succeed, the pair may recover to a psychological $1 level. The Bulls need to clear this hurdle to start rising to $1.26.
Conversely, a price below $0.75 indicates that the bulls are weakening. After that, the pair could drop to $0.63.
Avalanche (AVAX) formed a Doji candlestick pattern on July 23 and an intraday candlestick pattern on July 24, indicating hesitation between bulls and bears.
This uncertainty fell on July 25, with the AVAX / USDT pair dropping to a breakout level of $21.35. If the price recovers strongly from this level, it indicates that the Bulls are buying in a dip.
This could increase the likelihood of retesting at $26.50. Breaking this resistance could pave the way for a rally to $ 29, and $33.
Contrary to this assumption, if the price falls below $21.35, the pair may fall to the support line. The Bulls may actively defend this level.
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