Shiba Inu Inches Closer to an eToro Listing

Cryptocurrency investors have been on a wild ride of late, and Amazon.com has been in the middle. Now that Amazon has set the record straight, sort of, on where it stands on bitcoin, investors can focus on what they know best, including meme coins. Ethereum-based Shiba Inu is a fan favorite, and it looks like holders of this cryptocurrency could be getting what they want.

Investment platform eToro has been adding cryptocurrency assets fast and furiously. The Shiba Inu community has been waiting for their turn but has remained on the sidelines as the social investment firm has gone in another direction. For instance, eToro in recent days announced the addition of cryptocurrencies Maker and Enjin on its platform, which added insult to injury for SHIB investors.

Shiba Inu has not fallen off of eToro’s radar, however. Now it appears that the investment firm is closer than ever to listing the meme coin. The company announced that it is “on the case to officially list [Shiba Inu] on eToro,” urging the Shib fam to “hang tight.”

Shiba Inu launched a year ago in the wake of the larger meme-coin project Dogecoin. Shiba Inu, which considers itself a “Dogecoin Killer,” recently amassed 600,000 holders, but the price has been caught in the crypto market downdraft.

Coinbase Chatter

Shiba Inu investors are not stopping at eToro, however. They are also looking to leading cryptocurrency exchange Coinbase.com as well as popular trading app Robinhood to recognize and add their favorite meme coin. Coinbase is not averse to listing meme coins and already supports Shiba Inu rival Dogecoin. Coinbase Pro for sophisticated investors intends to list Shiba Inu but those plans hit a snag, resulting in a “temporary delay.”

Meme Coin Listings

Shiba Inu isn’t the only meme coin that trading platforms have their eye on. Baby Doge Coin, whose meme father is Dogecoin, has snagged a listing in BitMart, effective July 28.

For its part, Baby Doge Coin boasts more than 500,000 holders. The project has also been burning its supply, including 250 trillion coins burned in recent days. Nonetheless, the price is down nearly 70% from its all-time high of USD 0.000000005890 reached in early July, as per CoinGecko market data.

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Bitcoin Price Prediction – A Return to $40,000 Would Bring $45,000 into View

After Monday’s breakout session that fizzled out late in the day, Bitcoin and the broader market had a mixed session this morning.

At the time of writing, Bitcoin, BTC to USD, was up by 0.53%to $37,468.8.

A mixed start to the day saw Bitcoin rise to an early morning high $37,525.0 before hitting reverse

Falling well short of the first major resistance level at $40,166, Bitcoin fell back to an early morning low $36,418.0.

Steering clear of the first major support level at $34,804, however, Bitcoin found early support to return to $37,000 levels.

BTCUSD 270721 Hourly Chart

The Rest of the Pack

It has been another mixed morning for the broader crypto market.

At the time of writing, Crypto.com Coin was down by 2.09% to lead the way down.

Litecoin (-0.75%) and Polkadot (-1.16%) also bucked the trend early on.

It has been a bullish morning for the rest of the majors, however.

Through the morning, Chainlink was up by 3.00% to lead the way once more.

Binance Coin (+1.39%), Cardano’s ADA (+0.76%), Ethereum (+0.52%), and Ripple’s XRP (+1.34%) also found morning support.

Bitcoin Cash SV was flat for the morning, however.

Through the early hours, the crypto total market rose to an early morning high $1,465bn before falling to a low $1,417bn. At the time of writing, the total market cap stood at $1,464bn.

Bitcoin’s dominance fell to an early low 48.03% before rising to a high 48.43%. At the time of writing, Bitcoin’s dominance stood at 48.05%.

For the Afternoon Ahead

Bitcoin would need to move through the $37,699 pivot to bring the first major resistance level at $40,166 into play.

Support from the broader market would be needed for Bitcoin to break back through to $40,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s $40,595.0 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $45,000 before any pullback. The second major resistance level sits at $43,061. Bitcoin would need plenty of support, however, to breakout from the 38.2% FIB of $41,592.

Failure to move through the $37,699 pivot would bring the first major support level at $34,804 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$35,000 levels, however. The second major support level sits at $32,337.

Looking beyond the support and resistance levels, we saw the 50 EMA flatten on the 100 and 200 EMAs this morning. This led to the relatively range-bound session, with Bitcoin failing to break back through to $40,000 levels.

We saw the 100 EMA pull away from the 200 EMA, however, providing support to Bitcoin and the crypto bulls.

A further narrowing of the 50 on 100 and 200 EMAs this afternoon would bring sub-$36,000 levels into play.

Key going into the afternoon will be for Bitcoin to break through to $37,699 pivot to bring resistance levels into play.

Following late Monday’s reversal, Bitcoin would need to avoid sub-$35,000 levels else face a sharp pullback.

Tether’s Controversies Seem Never Ending. Executives Under Investigation For Bank Fraud

The issuers of the USDT stablecoins Tether are embroiled in yet another controversy as the executives are being investigated for possible bank fraud.

Tether Can’t Seem To Catch A Break

Perhaps the most controversial crypto projects in existence is Tether. The project has been embroiled in numerous controversies over the past few years, leading many within the community not to trust it and the USDT tokens it offers.

Tether is in yet another trouble as the United States Department of Justice has launched an investigation into its executives for possible bank frauds. In a report by Bloomberg yesterday, the DOJ said it is currently scrutinizing whether the company concealed from banks that transactions were linked to crypto.

Bloomberg cited three people with knowledge of the Tether matter, despite preferring to stay anonymous. According to the sources, the investigation is focused on conduct that occurred years ago, when the stablecoin issuer was still in its early years.

One of the sources revealed that the DOJ had already sent letters to the executives, notifying them that they are currently under investigation. Bloomberg added that the letter indicates that a decision could soon be reached on whether to bring a case. The senior Justice Department officials will decide if the charges are warranted.

Tether And Its Controversial Past

The stablecoin issuer had faced numerous controversies in the past. In 2018, Tether failed to conduct an audit that would confirm that its USDT tokens were backed by actual fiat currencies in the bank. This was followed by numerous reports suggesting that the company artificially inflated the Bull Run of 2017, leading Bitcoin to reach a then-record high of roughly $20,000.

USDT/USD chart. Source: FXEMPIRE

The New York Attorney General also investigated Tether and its sister company, Bitfinex. According to the New York AG, Tether failed to inform its clients or the general market that certain USDT tokens were not backed by the US Dollar in the bank after Bitfinex received $850 million to cover up some of its losses. Tether and the New York AG’s office ultimately settled.

Tether finally presented an audit report in March this year, showing that its USDT tokens were backed by actual assets. Bitcoin briefly touched $40k yesterday following its rally over the weekend. However, the cryptocurrency is now consolidating, and it is now trading just above $37k per coin.

Bitcoin Pulls Back As Traders Take Profits After Rally

Resistance At $40,000 Stays Strong

Bitcoin failed to settle above the resistance at $40,000 and pulled back towards $37,000 as traders took some profits off the table after a major rally which took the world’s leading cryptocurrency from $30,000 to $40,000 in just six trading sessions.

Other cryptocurrencies are also moving lower after major upside moves. Ethereum is currently trying to settle below $2,000 while Dogecoin is testing the support level at $0.20.

At this point, it looks that the short squeeze is over, and Bitcoin will need additional upside catalysts to settle above the key resistance at $40,000. While the recent upside move was spectacular, Bitcoin will need to settle above the resistance at $40,000 to have a chance to develop sustainable upside momentum.

Technical Analysis

bitcoin july 27 2021

Bitcoin faced significant resistance near $40,000 and pulled back below $38,000. The nearest support level for Bitcoin is located at $36,000. In case Bitcoin manages to settle below this level, it will head towards the next support level near the 20 EMA at $35,000. RSI is in the moderate territory, and there is plenty of room to gain downside momentum after the major upside move.

In case Bitcoin declines below $35,000, it will head towards the next support at $34,000. A successful test of this level will open the way to the test of the support at $32,000.

On the upside, Bitcoin needs to settle back above $38,000 to have a chance to get to the test of the major resistance level at $40,000. If Bitcoin gets above this level, it will head towards the highs of the previous upside move at $41,300.

From a big picture point of view, Bitcoin continues to trade in a wide trading range between the support at $30,000 and the resistance at $40,000. Both levels look strong, and Bitcoin will need additional catalysts to gain momentum and get out of this trading range.

For a look at all of today’s economic events, check out our economic calendar.

Bitcoin Fork Explained

Since the Beginning

In response to the global financial crisis of 2008, Satoshi Nakamoto ventured into the unknown and delivered the global financial markets with Bitcoin and blockchain tech.

Bitcoin’s creator set on a path to bring to end the control that central banks held over the global financial markets.

The concept and ideology of blockchain and ultimately Bitcoin was to allow the community to advance the technology on a united front in a bid to bring down central banks and the world’s largest financial institutions.

Things have not turned out, perhaps, how Satoshi had intended.

Miners vs Developers

In order to police and keep Bitcoin and the blockchain world moving forward, Bitcoin and the crypto community, not only needed developers, but also miners to verify transactions on the Bitcoin network and other crypto networks.

In contrast to Satoshi’s ambition to decentralize, miners and developers, have on occasion, fallen into disagreement over blockchain enhancements and/or developments.

For Bitcoin, minors had cornered the market with mining farms, leaving want-to-be minors out in the cold. This also meant that the income stream was just too large to give up control. Decentralized became centralized in a matter of years.

As a result, the Bitcoin community and the crypto community became divided between those in search of crypto income and the ideologists looking to continue to prize control from governments, central banks, and the world’s largest financial institutions.

This divergence in view and intent ultimately led to the splitting of crypto communities. The crypto technical term for this being a “Fork.”

The Fork

In the crypto sphere, there are two types of forks that investors need to be concerned with. The first and generally of little impact to value and the broader market are soft forks.

In the event of a soft fork, only one blockchain remains valid, with users adopting the changes made to the blockchain.

By contrast, hard forks can have a material impact on price in the lead up and immediate aftermath of a fork.

In a hard fork event, both blockchains coexist. The coexistence occurs from nodes continuing to support the original blockchain.

In some instances, therefore, both blockchains can coexist and remain prominent in the crypto market place. This is when there is sufficient support for both the old and the new versions.

In some cases, however, nodes may eventually shift to the new version, leaving the old blockchain obsolete.

From an investor perspective, an important feature of a hard fork is that holders of the original crypto are awarded the new coins upon completion of the hard fork.

In the case of a successful hard fork, where both chains coexist, the value of the coins can increase substantially.

For this reason, anticipation and an eventual hard fork can have a material impact on price and crypto market volatility.

Since Bitcoin’s creation, the total number of cryptos in the market place have surged to a whopping 11,064 based on numbers from CoinMarketCap.

Notably, in spite of numerous soft and hard forks, Bitcoin (“BTC”) continues to be the dominant crypto.

The 2017 Convergence

Back in late 2017, we did see Bitcoin’s dominance converge with the likes of Ethereum. This coincided with Bitcoin’s first major hard fork, which resulted in the creation of Bitcoin Cash (“BCH”).

While Bitcoin Cash (“BCH”) enjoyed a lengthy period in the top 10 by market cap, a Bitcoin Cash hard fork in late 2018 led to the creation of Bitcoin Cash ABC and Bitcoin Cash SV.

The Bitcoin community have not been alone in dealing with hard forks.

Ethereum hard forked, leading to the creation of Ethereum Classic. In this case, Ethereum Classic maintained the old blockchain history. We also saw Litecoin hard fork, leading to the creation of Litecoin Cash.

In spite of disagreements between respective developers and the communities, however, Bitcoin, Ethereum, and Litecoin have all remained the dominant chain.

Lessons Learned

Major disagreements between developers and communities can lead to significant disruption. More importantly, market stability also comes into question.

Since the headline grabbing hard forks of Bitcoin, Ethereum, and Litecoin, the number of notable hard forks have fallen.

Developers and nodes working together to achieve Satoshi’s ambition of toppling central banks is now a more plausible outcome. Infighting had led to significant disruption and ultimately a marked decline in value.

Stability across the major crypto blockchains have supported the increased adoption. The increased adoption contributed to Bitcoin’s surge to an all-time high $64,829.0, struck in April 2021.

While volatility across the market place will unlikely abate anytime soon. The absence of hard forks and infighting, however, would serve the crypto community and investors well in the short to medium term.

Bitcoin Rejected at $40,000 Amid a Dwindling Bull Run

  • Bitcoin has seen meteoric growth in the past 24 hours as fueled by news from Amazon.
  • Despite the uptrend which stirred a growth of up to 15% in the latest run, the market bears rejected a push-up beyond the $40,000 resistance point.
  • Ethereum is also seeing a rejuvenation as it looks to breach the $2,500 price level.

Unique fundamentals unraveled in the past days have stirred a rejuvenation in the cryptocurrency industry. For a market that has been begging for a bullish awakening in months, the 8.65% in the global crypto market cap to $1.53 Trillion is perhaps enough to suggest a major rally may be brewing. This, however, is dependent on how Bitcoin and Ethereum can sustain their current growth trends.

Bitcoin Sees Impressive Price Growth and a Simultaneous Rejection

The premier cryptocurrency is currently changing hands at $38,282.8, up 9.84% according to data from CEX.IO the price feed. The news that Amazon is looking to hire a crypto expert to help chart its pursuit of accepting Bitcoin payments can be tipped as a major cause for this recent growth.

With the institutional backing which has seen the likes of Tesla, MicroStrategy, and recently SpaceX places a Bitcoin holding on their balance sheets set to be complemented with the Amazon push, market bulls went on an unbridled accumulation, pushing the price to a weekly and monthly high of $39,280.42.

The uptrend as seen on the BTC/USD 4h chart is attaining the peak at the current price level, suggesting a bear action that is repressing the price growth from crossing the $40,000. The RSI and MACD indicators are still showing positive signs of growth, and while we may see a little retracement, crossing the $40,000 resistance point remains the short-term target for investors.

Ethereum Maintaining a Steady Growth

At a current price of $2352.31 and a growth rate of 8.01% in the past 24 hours, Ethereum’s uptrend correlation with BTC was reiterated. However, unlike Bitcoin which has started seeing a gradual bear action, Ethereum bulls are pushing the coin to a new price point, such as has never be seen in the past month.

With prices trading above the short-term Moving Average, a sustained buyup can push Ethereum to the $2,500 to $3,000 price level in the coming weeks.

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 27th, 2021

EOS

EOS rose by 0.52% on Monday. Reversing a 0.25% loss from Sunday, EOS ended the day at $3.6822.

A bullish start to the day saw EOS rally to a late intraday high $3.9980 before hitting reverse.

EOS broke through the day’s major resistance levels before a late pullback.

The pullback saw EOS slide back through the day’s major resistance level to end the day at sub-$3.70 levels.

At the time of writing, EOS was down by 1.14% to $3.6402. A mixed start to the day saw EOS rise to an early morning high $3.7572 before falling to a low $3.6241.

EOS left the major support and resistance levels untested early on.

EOSUSD 270721 Hourly Chart

For the day ahead

EOS would need to move through the $3.7704 pivot to bring the first major resistance level at $3.9098 into play.

Support from the broader market would be needed for EOS to break back through to $3.90 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, EOS could test resistance at Monday’s high $3.9980. The second major resistance level sits at $4.1375.

Failure to move through the $3.7704 pivot would bring the first major support level at $3.5427 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$3.50 levels. The second major support level sits at $3.4033.

Looking at the Technical Indicators

First Major Support Level: $3.5427

First Major resistance Level: 3.9098

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen fell by 0.50% on Monday. Following a 2.02% decline on Sunday, Stellar’s Lumen ended the at $0.2605.

A bullish start saw Stellar’s Lumen rally to a mid-morning intraday high $0.2846 before hitting reverse.

Stellar’s Lumen broke through the first major resistance level at $0.2684 and the second major resistance level at $0.2749.

The reversal, however, saw Stellar’s Lumen slide back through the major resistance levels to late intraday low $0.2566.

Steering clear of the first major support level at $0.2545, Stellar’s Lumen found support to end the day at $0.26 levels.

At the time of writing, Stellar’s Lumen was down by 2.78% to $0.2533. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.2631 before falling to a low $0.2533.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLMUSD 270721 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.2672 pivot to bring the first major resistance level at $0.2779 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from $0.2750 levels.

Barring an extended rally, the first major resistance level and resistance at $0.28 would likely cap any upside.

In the event of another broad-based crypto rally, Stellar’s Lumen could test resistance at $0.30 before any pullback. The second major resistance level sits at $0.2952.

Failure to move through the $0.2672 pivot would bring the first major support level at $0.2499 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.24 levels. The second major support level sits at $0.2392.

Looking at the Technical Indicators

First Major Support Level: $0.2499

First Major Resistance Level: $0.2779

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX rose by 0.71% on Monday. Following a 0.85% gain on Sunday, Tron’s TRX ended the day at $0.05851.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.05752 before making a move.

Steering clear of the first major support level at $0.05635, Tron’s TRX rallied to a late afternoon intraday high $0.06379.

Tron’s TRX broke through the day’s major resistance levels before hitting reverse.

The reversal saw Tron’s TRX fall back through the major resistance levels to end the day at sub-$0.059 levels.

At the time of writing, Tron’s TRX was down by 1.30% to $0.05775. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.05968 before rising to a high $0.05772.

Tron’s TRX left the major support and resistance levels untested early on.

TRXUSD 270721 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.05994 pivot to bring the first major resistance level at $0.06236 into play.

Support from the broader market would be needed, however, for Tron’s TRX to move back through to $0.060 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.06379 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test the second major resistance level at $0.06621.

Failure to move through the $0.05994 pivot would bring the first major support level at $0.05609 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.05367.

Looking at the Technical Indicators

First Major Support Level: $0.05609

First Major Resistance Level: $0.06236

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

Dogecoin – Daily Tech Analysis –July 27th, 2021

Dogecoin

Dogecoin rose by 2.77% on Monday. Following a 0.56% gain on Sunday, Dogecoin ended the day at $0.2037.

A mixed the start of the day saw Dogecoin fall to an early morning intraday low $0.1971 before finding support.

Steering clear of the first major support level at $0.1901, Dogecoin rallied to a mid-morning intraday high $0.2331.

Dogecoin broke through the first major resistance level at $0.2074 and the second major resistance level at $0.2166.

Coming up against the third major resistance level at $0.2339, however, Dogecoin slid back to $0.2004 levels before ending the day at $0.203 levels.

The pullback saw Dogecoin fall back through the first and second major resistance levels.

At the time of writing, Dogecoin was down by 0.22% to $0.2032. A mixed start to the day saw Dogecoin rise to an early morning high $0.2051 before falling to a low $0.2012.

Dogecoin left the major support and resistance levels untested early on.

DOGEUSD 270721 Hourly Chart

For the day ahead

Dogecoin would need to move through the $0.2113 pivot to bring the first major resistance level at $0.2255 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.22 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Dogecoin could test resistance at $0.25 levels before any pullback. The second major resistance level sits at $0.2473.

Failure to move through the $0.2113 pivot would bring the first major support level at $0.1895 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.18 levels. The second major support level sits at $0.1753.

Looking at the Technical Indicators

First Major Support Level: $0.1895

Pivot Level: $0.2113

First Major Resistance Level: $0.2255

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

Please let us know what you think in the comments below.

Thanks, Bob

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 27th, 2021

Ethereum

Ethereum rose by 1.64% on Monday. Following a 0.29% gain on Sunday, Ethereum ended the day at $2,228.26.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,172.99 before making a move.

Steering clear of the first major support level at $2,135, Ethereum rallied to a late intraday high $2,437.99.

Ethereum broke through the day’s major resistance levels before a late pullback to sub-$2,250 levels.

The pullback saw Ethereum fall back through the third major resistance level at $2,3444 and the second major resistance level at $2,255.

At the time of writing, Ethereum was down by 0.08% to $2,226.50. A mixed start to the day saw Ethereum rise to an early morning high $2,232.10 before falling to a low $2,222.00.

Ethereum left the major support and resistance levels untested early on.

ETHUSD 270721 Hourly Chart

For the day ahead

Ethereum would need to move through the $2,280 pivot to bring the first major resistance level at $2,387 into play.

Support from the broader market would be needed, however, for Ethereum to breakout from $2,350 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2,437.99 would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could resistance at $2,600 before any pullback. The second major resistance level sits at $2,545.

Failure to move through the $2,280 pivot would bring the first major support level at $2,122 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,015 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,122

Pivot Level: $2,280

First Major Resistance Level: $2,387

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.64% on Monday. Following a 1.32% gain on Sunday, Litecoin ended the day at $131.11.

A mixed start to the day saw Litecoin fall to an early morning intraday low $127.03 before making a move.

Steering clear of the first major support level at $125, Litecoin rallied to a late intraday high $140.43.

Litecoin broke through the day’s major resistance levels before a pullback to $130 levels.

The pullback saw Litecoin fall back through the third major resistance level at $136 and the second major resistance level at $131.

Finding late support, however, Litecoin broke back through the second major resistance level to end the day at $131 levels.

At the time of writing, Litecoin was down by 0.27% to $130.76. A mixed start to the day saw Litecoin rise to an early morning high $131.23 before falling to a low $130.56.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 270721 Hourly Chart

For the day ahead

Litecoin would need to move through the $133 pivot to bring the first major resistance level at $139 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $135 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $140.43 would likely cap any upside.

In the event of another extended breakout, Litecoin could test resistance at $150. The second major resistance level sits at $146.

Failure to move through the $133 pivot would bring the first major support level at $125 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level at $120 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $125

Pivot Level: $133

First Major Resistance Level: $139

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 3.06% on Monday. Reversing a 0.48% loss from Sunday, Ripple’s XRP ended the day at $0.62558.

Bullish from the start of the day, Ripple’s XRP rallied from an early morning intraday low $0.60700 to late intraday high $0.67855.

Ripple’s XRP broke through the day’s major resistance levels before a late pullback to sub-$0.62 levels.

The late pullback saw Ripple’s XRP fall back through the third major resistance level at $0.6453 and the second major resistance level at $0.6244.

Late in the day, however, Ripple’s XRP broke back through the second major resistance level to end the day at $0.625 levels.

At the time of writing, Ripple’s XRP was down by 0.72% to $0.62105. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.62389 before falling to a low $0.62105.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 270721 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.6370 pivot to bring the first major resistance level at $0.6671 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.65 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.70 before any pullback. The second major resistance level sits at $0.7086.

Failure to move through the $0.6370 pivot would bring the first major support level at $0.5955 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.59 levels. The second major support level sits at $0.5655.

Looking at the Technical Indicators

First Major Support Level: $0.5955

Pivot Level: $0.6370

First Major resistance Level: $0.6671

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

Please let us know what you think in the comments below.

Thanks, Bob

Bitcoin Bulls Take Out Crystal Ball as Price Barrels Toward USD 40K

All is well in crypto land. The bitcoin price is barreling toward USD 40K once again. Meme coin favorite Dogecoin is trading above the psychologically important USD 0.20 level. Ethereum is comfortably above USD 2K. And several major catalysts are in the pipeline, not the least of which Tesla potentially accepting BTC payments once again and e-commerce giant Amazon eyeing bitcoin for payments. Now that the bulls have wrestled back control, market leaders are getting out their crystal balls.

Bitcoin Bull

Bobby Lee, co-founder of China-based cryptocurrency exchange BTCC and CEO of crypto wallet Ballet, is among the biggest bitcoin bulls out there. Lee revealed to Fortune his short-term and long-term bitcoin price predictions.  Lee says he feels “confident” the bitcoin price will cross USD 65K and then continue to rally to beyond USD 250K by year-end 2021.

Lee, who is also the brother of Litecoin founder Charlie Lee, doesn’t believe the bulls will stay in control forever. Next year, he is anticipating a “bear market cycle” in which the bitcoin price will see its value slashed by between 50% and 80% from its peak. The bulls will return, however, every several years.

Lee’s medium-term prediction in which he looks out to 2024-2025 is for the bitcoin price to “cross half a million dollars and might even touch USD 1 million.” From there, he has no problem seeing BTC trading above USD 1 million-2 million in the next 10-15 years.

Short-Term View

In the short term, it appears to be only a matter of time before the bitcoin price is perched above USD 40K once again. Twitter account Stocktwits comprising investors and traders has polled its followers about whether the bitcoin price will cross USD 40K before the end of today. So far, out of nearly 1,400 votes, 57% of respondents are feeling bullish, while the rest are not banking on it.

Source: Twitter

Meanwhile, Galaxy Digital’s head of firmwide research, Alex Thorn, warns that “short term traders should remain cautious” until either the bitcoin price is steadily above USD 40K, or the 200-day moving average is reclaimed. Investors who are stacking sats, however, might want to keep doing what they’re doing.

As the bitcoin price goes higher, the leading cryptocurrency is getting more popular with Americans. According to a recent Gallup poll, 6% of Americans own bitcoin compared to 2% three years ago. Bitcoin ownership among Americans under the age of 50 hovers at 13% vs. 3% of Baby Boomers.

Bitcoin Adoption In Botswana

Although Botswana citizens are finding it easier to transact Bitcoin with the establishment of Satoshicentre set up by Alakanani Itireleng, a foremost Bitcoin dealer, and a Bitcoin ATM set up in Gaborone, Botswana capital by Express Minds Ltd.

Botswana’s small population has several bitcoin enthusiasts; however, its citizens have to go through hard times to get their wallets funded for Bitcoin transactions chiefly because there are no local cryptocurrency exchanges where crypto enthusiasts can trade Pula (Botswana’s fiat currency) for Bitcoin.

Additionally, the lack of cryptocurrency regulation by the Botswana government and its unwillingness to adopt Bitcoin and other cryptocurrencies makes Bitcoin trading in Botswana challenging.

Is Bitcoin Trading In Botswana Illegal?

Bitcoin is not outlawed in Botswana. However, there are no regulations for cryptocurrency dealings. Based on this, the governor of the Bank of Botswana was quoted as saying ‘…it is impossible to transfer Pula into Bitcoin…

The declarations of the Botswana Bank’s governor makes it impossible for cryptocurrency exchange platforms to set up a base in Botswana knowing that Banks in Botswana will not provide intermediary financial services for the Botswana populace and cryptocurrency exchanges.

Hence, if you have to transact using Bitcoin, you will have to source Bitcoin via P2P or other informal means.

Encouraging Bitcoin Adoption In Botswana

What if you can pay your medical bills in Botswana using Bitcoin? To encourage the adoption of Bitcoin in Botswana, Dr. Donald Ariisa of Shahdara Clinic, a private hospital in Botswana, has decided to accept payment in Bitcoin, making him the first medical practitioner to accept Bitcoin as a means of payment.

Dr. Donald Ariisa is quoted as saying, ‘Bitcoin and the blockchain technology is new and volatile; as an early adopter, I hope to convince the Botswana populace of its viability.’

An important catalyst for Bitcoin and the blockchain technology adoption in Botswana is the drive for diversification by Mokgweetsi Masisi, President of Botswana who was quoted as saying ‘…It is more imperative than ever for Botswana to expand her economy beyond exporting diamonds and metals…’ Thus opening Botswana officially to Bitcoin and blockchain adoption.

Bitcoin Startups In Botswana

The bitcoin price has increased in the last 24 hours by 11% on Amazon’s Crypto Hiring Plans and according to CryptoPredictions.com, the Bitcoin price is forecasted to increase even further to surpass the $100,000 mark by the end of this year. With the high adaptation rate of BTC across the globe, more and more Bitcoin startups are springing up in a drive to see the widespread adoption and possibly force Botswana’s Central Bank to regulate cryptocurrencies.

One such early startup is the Satoshicenter, a blockchain startup established by Alakanani Itireleng in 2014 to provide blockchain services to the Botswana populace.

An offshoot of Satoshicenter is Plaas which aims to help farmers and agric societies manage production, daily activities, and stock through blockchain adoption.

On the other hand, IndieStudio Africa launched Kogboko, a Blockchain financial services provider that aims to provide financial services to Botswana’s unbanked populace, provide funding for individuals and businesses, as well as spread awareness of cryptocurrencies and blockchain technology in Botswana.

Buying Bitcoin From Botswana’s First Bitcoin ATM

Bitcoin’s price remains unstabilized in Botswana largely due to the lack of cryptocurrency exchange platforms leading to high arbitrage. The installation of a Bitcoin ATM in Gaborone, Botswana, is a welcome development.

However, critics fault the 15% commission charged on bitcoin sales as being on the high side. This is a welcome relief compared with the long, arduous journey to neighboring South Africa or relying on families and friends outside of Botswana for Bitcoin purchases.

Hence, 15% is a relatively small price to pay compared to the cost and danger of traveling or the high handling fees charged for fiat monetary transactions.

Alternative To Buying Bitcoin In Botswana

An alternative way of sourcing for Bitcoin is patronizing crypto exchanges based in South Africa and paying online with a globally accepted credit/debit card not readily available to the Botswana populace.

However, the most popular means of transacting Bitcoin is via Peer-to-Peer mode on various WhatsApp groups and other social media platforms. However, this means of transaction is unregulated with no control of scam activities.

A Silver Lining In The Sky

Botswana populace can buy bitcoin with fiat currencies on several exchanges and P2P platforms like CEX.io, YellowCard, Binance, Coinmama, Kraken, Paxful, LocalBitcoins, OKcoin, and Changelly.

The advent of peer-to-peer and crypto exchange platforms has provided great relief to Botswana’s cryptocurrency enthusiasts and has also catalyzed the widespread adoption of Bitcoin in Botswana.

Will Botswana Ban Bitcoin?

The bank of Botswana is not interested in regulating cryptocurrencies and, it has no intention of banning cryptocurrencies in the country. The central bank governor is likely to follow the trend by providing regulations for cryptocurrencies and cryptocurrency exchanges in the future. However, it cannot declare a ban on cryptocurrencies and related activities since it does not control the internet.

Bottom Line

The Botswana populace continues to push for the widespread adoption and regulation of Bitcoin; this has yielded much dividend with the installation of Bitcoin ATM, the establishment of Satoshi center and other Bitcoin startups, and the proliferation of Bitcoin exchanges and P2P platforms.

Hopefully, Botswana will become one of Africa’s best cryptocurrency haven in the nearest future if it sustains its drive for widespread Bitcoin adoption.

Bitcoin Price Prediction – Bulls Target $40,000 and Beyond

After a bullish end to the week for Bitcoin and the broader market on Sunday, it was a particularly bullish morning for the crypto majors this morning.

At the time of writing, Bitcoin, BTC to USD, was up by 8.97%to $38,591.0.

A mixed start to the day saw Bitcoin fall to an early morning low $35,233.0 before making a move.

Steering clear of the first major support level at $34,386, Bitcoin rallied to an early morning current day high $39,777.0.

Bitcoin broke through the day’s major resistance levels to test resistance at $40,000 before briefly easing back to sub-$38,500 levels.

In spite of the pullback, however, Bitcoin avoided a fall back through the third major resistance level at $38,031.

The Rest of the Pack

It has also been a mixed morning for the broader crypto market.

Through the morning, Chainlink was up by 14.76% to lead the way.

Cardano’s ADA (9.92%), Ethereum (+7.24%), Litecoin (+8.06%), and Ripple’s XRP (+9.06%) also found strong support.

Binance Coin (+5.52%), Bitcoin Cash SV (+4.58%), and Crypto.com Coin (+6.87%) trailed the front runners, however.

Through the morning, Polkadot bucked the trend, falling by 1.12%.

Through the early hours, the crypto total market fell to an early morning low $1,407bn before rising to a high $1,546bn. At the time of writing, the total market cap stood at $1,519bn.

Bitcoin’s dominance fell to an early low 46.93% before rising to a high 48.66%. At the time of writing, Bitcoin’s dominance stood at 47.63%.

For the Afternoon Ahead

Bitcoin would need to avoid a fall through the third major resistance level at $38,031 to support another run at the 38.2% FIB of $41,592.

Support from the broader market would be needed, however, for Bitcoin to breakout from the early morning high $39,777.0.

Barring an extended crypto rally, the resistance at $40,000 would likely continue to cap the upside.

In the event of another extended crypto rally, Bitcoin could test resistance at the 38.2% FIB of $41,592. Bitcoin last visited $42,000 levels back on 22nd May.

A fall through the third major resistance level at $38,031 to sub-$37,000 levels would bring the second major resistance level at $36,473 into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should steer clear of sub-$35,000 levels.

The first major resistance level at $35,944 should limit the downside.

Looking beyond the support and resistance levels, we saw the 50 EMA pull further away from the 100 and 200 EMAs this morning.

We also saw the 100 EMA pull away from the 200 EMA adding further support to Bitcoin and the crypto bulls.

A further widening of the 50 and 100 EMAs from the 200 EMA this afternoon would bring the 38.2% FIB into play.

Key going into the afternoon will be for Bitcoin to break back through to $39,000 levels, however.

Following last week’s gains, Bitcoin would need to avoid the day’s $34,915 pivot else face a sharp pullback.

Dogecoin Rallies As Bitcoin Moves Towards $40,000

Amazon May Begin To Accept Bitcoin Payments

Dogecoin made an attempt to settle above $0.2350 but pulled back towards $0.22 while Bitcoin rallied towards the $40,000 level.

Bitcoin gained strong upside momentum after reports indicated that Amazon may accept bitcoin payments by the end of this year. Not surprisingly, speculative traders rushed to buy Bitcoin and other cryptocurrencies after these reports emerged. Ethereum made an attempt to settle above $2,400 while XRP tested $0.6750.

While Amazon news have certainly served as the main catalyst for the recent rally, it looks that short covering has also played a role in this rally. Some traders rushed to short Bitcoin and other cryptocurrencies when Bitcoin made an attempt to settle below the key support level at $30,000. Bitcoin failed to gain downside momentum and began to rebound, so such traders rushed to exits at a time when bullish reports about Amazon’s plans were released.

Technical Analysis

dogecoin july 26 2021

Dogecoin is currently trying to stay above $0.22. RSI remains in the moderate territory so there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

The nearest material resistance level for Dogecoin is located at $0.2250. If Dogecoin gets back above this level, it will move towards the resistance at $0.23.

A successful test of the resistance at $0.23 will open the way to the test of the resistance level which is located at the 50 EMA at $0.2385. In case Dogecoin gets above the 50 EMA, it will head towards the resistance at $0.25.

On the support side, the nearest support level for Dogecoin is located at $0.2150. If Dogecoin manages to settle below this level, it will move towards the support at the 20 EMA at $0.2040. A successful test of the support at the 20 EMA at $0.2040 will open the way to the test of the psychologically important support level which is located at $0.20.

For a look at all of today’s economic events, check out our economic calendar.

Bitcoin Bulls on a rampage, as Short-Sellers Go Into Hiding

The flagship crypto asset traded above the $39k price levels for the first time in six weeks and is currently trading its sixth consecutive day in the green.

Short sellers are currently on the sidelines, with a record $1.2 billion in shorts liquidated for the day further predict the outlook and momentum for Bitcoin is positive.

Bitcoin bulls have continued to hold their grip on the new asset class. Sunday’s current price rise representing the biggest single daily gain since June 16.

On the FTX exchange, the most popular crypto was changing hands for around $38,300, posting daily gains of more 10% but has cooled slightly after hitting a monthly high of around $39,850.

Such massive gains triggered many technical indicators return into bullish sentiments as the flagship crypto reclaimed the 50-day moving average.

Top altcoins posted decent gains with Cardano posting daily gains of more than 11% while Polkadot, XRP, Binance Coin, Dogecoin, Aave, Monero each having increased by more than 7% for the day.

Market sentiments stay high on rumors that Amazon, the world’s biggest e-commerce company is looking to accept the pioneer crypto asset for payments by year’s end and is considering minting its own token next year, further gave Bitcoin Bulls to stay within the striking distance of $40,000.

Giving credence to Amazon’s entry into the crypto-verse dates back to a post on a jobs board looking for a digital lead focused on crypto assets with Twitter’s Jack Dorsey earlier disclosing the micro-blogging platform is planning in future to integrate the world’s most popular crypto asset into their product and service offerings, put Bitcoin bulls within striking distance to hit the $40,000 price band.

At the time of drafting this report, the global crypto market value stood at $1.53 trillion, posting a surge of 9.19% over the last day.

Bitcoin’s Adoption Is Growing. Now It’s Amazon’s Time To Accept It

The cryptocurrency market has been gaining adoption from corporate entities in recent years, and it now seems it is time for Amazon to join the list.

Amazon To Start Accepting Bitcoin Soon

Online retail giant Amazon is reportedly ready to start accepting Bitcoin payments before the end of the year. This is according to a report by London’s City A.M outlet, citing an insider. According to the report, Amazon will start accepting Bitcoin as a means of payment soon.

The retail giant recently posted saying that it wants to hire a cryptocurrency and blockchain lead. Amazon is looking to explore areas such as blockchain technology, cryptocurrency, central bank digital currencies (CBDCs) and distributed ledger.

The source told City A.M that the job post is a sign of bigger things from Amazon. She stated that the company is getting ready to set up cryptocurrency payment solutions at some point in the future. It is something the company is committed to achieving, she added.

The insider revealed that it starts with Bitcoin as it is the key first stage of the cryptocurrency project. The directive is apparently coming from Jeff Bezos himself. After establishing a strong Bitcoin payment option, Amazon will look to integrate other cryptocurrencies. “Ethereum (ETH), Cardano (ADA) and Bitcoin Cash (BCH) will be next in line before they bring about eight of the most popular cryptocurrencies online,” the insider added. Amazon has been working on the functionality since 2019, and it could soon come to fruition, she added.

Amazon To Develop Its Native Token

The second stage of the project is for Amazon to develop its own native token. The source stated that the company is planning to start developing its native token next year after establishing its cryptocurrency payment gateway.

She added that after a year of experiencing cryptocurrency payments, it is looking increasingly possible that the company is heading towards tokenization. The token will allow people to buy goods on Amazon and pay for other services. It will also come with a loyalty scheme to boost adoption.

BTC/USD chart. Source: FXEMPIRE

Bitcoin has been performing excellently over the past few days. BTC is currently up by 12% over the past 24 hours and is now trading above the $38k mark for the first time in weeks. The rally has extended to other cryptocurrencies, with Ether also closing in on the $2,500 resistance point.

Bitcoin and Ethereum – Weekly Technical Analysis – July 26th, 2021

Bitcoin

Bitcoin, BTC to USD, rose by 11.30% in the week ending 25th July. Partially reversing a 7.09% loss from the previous week, Bitcoin ended the week at $35,415.0.

In a bearish start to the week, Bitcoin slid to a Tuesday intraweek low $29,313.0 before making a move.

The reversal saw Bitcoin fall through the first major resistance level at $30,358 before rallying to a Sunday intraweek high $35,444.0.

Bitcoin broke through the first major resistance level at $33,969 to the week at $35,000 levels.

5 days in the green that included a 7.87% jump on Wednesday and a 4.12% gain on Friday delivered the upside for the week.

For the week ahead

Bitcoin would need to avoid a fall back through the first major resistance level at $37,468 to bring $40,000 levels into play.

Support from the broader market would be needed for Bitcoin to break back through the second major resistance level at $39,522.

Barring an extended crypto rally, resistance at the 38.2% FIB of $41,592 would likely cap any upside.

In the event of an extended breakout, Bitcoin could test resistance at $45,000 before any pullback. The third major resistance level sits at $45,653.

A fall back through the first major resistance level and through the $33,391 pivot would bring the first major support level at $31,337 into play.

Barring another extended sell-off, Bitcoin should steer clear of sub-$30,000 levels and the second major support level at $27,260.

At the time of writing, Bitcoin was up by 8.12% to $38,292.4. A bullish start to the week saw Bitcoin rise from an early Monday low $35,233.0 to a high $39,777.0.

Bitcoin broke through the first major resistance level at $37,468 to test the second major resistance level at $39,522 at the start of the week.

BTCUSD 260721 Daily Chart

Ethereum

Ethereum rallied by 15.94% in the week ending 25th July. Reversing an 11.67% slide from the previous week, Ethereum ended the week at $2,193.03.

A bearish start to the week saw Ethereum slide to a Tuesday intraweek low $1,720.16 before making a move.

Ethereum fell through the first major support level at $1,771 before rallying to a Saturday intraweek high $2,200.00.

The extended rally saw Ethereum break through the first major resistance level at $2,090 to end the week at $2,190 levels.

5-days in the green that included an 11.74% surge on Wednesday and a 4.99% rally on Friday delivered the upside for the week.

For the week ahead

Ethereum would need to avoid the $2,038 pivot to bring the first major resistance level at $2,355 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,350 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $2,400 would likely cap any upside.

In the event of an extended breakout, Ethereum could test the second major resistance level at $2,518.

A fall through the pivot at $2,038 would bring the first major support level at $1,875 into play.

Barring another extended sell-off in the week, Ethereum should steer clear of the 62% FIB of $1,725. The second major support sits at $1,558.

At the time of writing, Ethereum was up by 5.11% to $2,305.0. A mixed start to the week saw Ethereum fall to an early Monday low $2,172.99 before rallying to a high $2,341.37.

Ethereum left the major support and resistance levels untested at the start of the week.

ETHUSD 260721 Daily Chart

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 26th, 2021

EOS

EOS slipped by 0.25% on Sunday. Partially reversing a 0.95% gain from Saturday, EOS ended the week up by 0.75% to $3.6633.

A mixed start to the day saw EOS rise to an early morning intraday high $3.6982 before hitting reverse.

Falling short of the first major resistance level at $3.7417, EOS fell to an early afternoon intraday low $3.5526.

EOS fell through the first major support level at $3.6060 before a partial recovery to $3.66 levels.

At the time of writing, EOS was up by 2.14% to $3.7418. A mixed start to the day saw EOS fall to an early morning low $3.6429 before rising to a high $3.7478.

EOS broke through the first major resistance level at $3.7235 early on.

EOSUSD 260721 Hourly Chart

For the day ahead

EOS would need to avoid a fall back through the first major resistance level at $3.7235 to bring $3.80 levels into play.

Support from the broader market would be needed for EOS to out from the second major resistance level at $3.7836.

Barring an extended crypto rally, the second major resistance level and resistance at $3.80 would likely cap any upside.

In the event of an extended rally, EOS could test the third major resistance level sits at $3.9292.

A fall back through the first major resistance level and through the $3.6380 pivot would bring the first major support level at $3.5779 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$3.50 levels. The second major support level sits at $3.4924.

Looking at the Technical Indicators

First Major Support Level: $3.5779

First Major resistance Level: 3.7235

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen fell by 2.02% on Sunday. Following a 0.82% loss on Saturday, Stellar’s Lumen ended the week up by 13.94% to $0.2618.

A mixed start saw Stellar’s Lumen rise to an early morning intraday high $0.2676 before hitting reverse.

Falling short of the first major resistance level at $0.2728, Stellar’s Lumen fell to an early afternoon intraday low $0.2537.

Stellar’s Lumen fell through the first major support level at $0.2611 and the second major support level at $0.2551.

Finding late support, however, Stellar’s Lumen moved back through the major support levels to end the day at $0.2618 levels.

At the time of writing, Stellar’s Lumen was up by 2.18% to $0.2675. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.2603 before rising to a high $0.2680.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLMUSD 260721 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid the $0.2610 pivot to bring the first major resistance level at $0.2684 back into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from this morning’s high $0.2680.

Barring an extended rally, the first major resistance level and resistance at $0.27 would likely cap any upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.2850 before any pullback. The second major resistance level sits at $0.2749.

A fall through the $0.2610 pivot would bring the first major support level at $0.2545 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.25 levels. The second major support level sits at $0.2471.

Looking at the Technical Indicators

First Major Support Level: $0.2545

First Major Resistance Level: $0.2684

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX rose by 0.85% on Sunday. Following a 2.49% gain on Saturday, Tron’s TRX ended the week up by 3.87% to $0.05810.

A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.05560 before making a move.

Tron’s TRX fell through the first major support level at $0.05603 before rising to a mid-day intraday high $0.05835.

Falling short of the first major resistance level at $0.05863, however, Tron’s TRX fell back to $0.056 levels and into the red.

Finding late support, Tron’s TRX moved back through to $0.058 levels to end the day in positive territory.

At the time of writing, Tron’s TRX was up by 0.94% to $0.05865. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.05752 before rising to a high $0.05940.

Tron’s TRX broke through the first major resistance level at $0.05910 early on.

TRXUSD 260721 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.05735 pivot to bring the first major resistance level at $0.05910 back into play.

Support from the broader market would be needed, however, for Tron’s TRX to move back through to $0.0590 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at $0.062 levels. The second major resistance level sits at $0.06010.

A fall through the $0.05735 pivot would bring the first major support level at $0.05635 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.05460.

Looking at the Technical Indicators

First Major Support Level: $0.05635

First Major Resistance Level: $0.05910

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

Dogecoin – Daily Tech Analysis –July 26th, 2021

Dogecoin

Dogecoin rose by 0.56% on Sunday. Following a 1.13% gain on Saturday, Dogecoin ended the week up by 9.13% to $0.1982.

A mixed the start of the day saw Dogecoin fall to an early morning intraday low $0.1982 before finding support.

Steering clear of the first major support level at $0.1907, Dogecoin rallied to a late morning intraday high $0.2009.

Falling short of the first major resistance level at $0.2040, Dogecoin fell back to $0.192 levels before a late move back into positive territory.

At the time of writing, Dogecoin was up by 2.33% to $0.2028. A mixed start to the day saw Dogecoin fall to an early morning low $0.1971 before rising to a high $0.2030.

Dogecoin left the major support and resistance levels untested early on.

DOGEUSD 260721 Hourly Chart

For the day ahead

Dogecoin would need to avoid a fall back through the $0.1993 pivot to bring the first major resistance level at $0.2074 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from this morning’s high $0.2030.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.2085 would likely cap any upside.

In the event of another breakout, Dogecoin could test resistance at $0.22 levels before any pullback. The second major resistance level sits at $0.2166.

A fall back through the $0.1993 pivot would bring the first major support level at $0.1901 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.19 levels. The second major support level sits at $0.1820.

Looking at the Technical Indicators

First Major Support Level: $0.1901

Pivot Level: $0.1993

First Major Resistance Level: $0.2074

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – July 26th, 2021

Bitcoin, BTC to USD, rose by 3.29% on Sunday. Following a 1.87% gain on Saturday, Bitcoin ended the week up by 11.30% to $35,415.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $33,886.0 before making a move.

Steering clear of the first major support level at $33,625, Bitcoin rallied to a final hour intraday high $35,444.0.

Bitcoin broke through the first major resistance level at $34,730 and the second major resistance level at $35,181 to end the day at $35,400 levels.

The near-term bullish trend remained intact, in spite of the latest return to $29,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Sunday.

Polkadot slid by 3.32%, with Cardano’s ADA (-0.32%) and Ripple’s XRP (-0.48%) also seeing red to buck the trend.

It was a bullish day for the rest of the majors, however.

Chainlink and Litecoin rose by 1.26% and by 1.32% respectively to lead the way.

Binance Coin (+0.37%), Bitcoin Cash SV (+0.77%), Crypto.com Coin (+0.53%), and Ethereum (+0.29%) saw modest gains, however.

In the week, the crypto total market fell to a Tuesday low $1,154bn before rising to a Sunday high $1,430bn. At the time of writing, the total market cap stood at $1,426bn.

Bitcoin’s dominance rose to a Tuesday high 47.63% before falling to a Thursday low 45.91%. At the time of writing, Bitcoin’s dominance stood at 47.03%.

This Morning

At the time of writing, Bitcoin was up by 0.93% to $35,745.0. A mixed start to the day saw Bitcoin fall to an early morning low $35,233.0 before rising to a high $35,886.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Polkadot was down by 0.04% early on to buck the trend.

It was a bullish start for the rest of the majors.

At the time of writing, Bitcoin Cash SV was up by 3.82% to lead the way.

BTCUSD 260721 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $34,915 pivot to bring the first major resistance level at $35,944 into play.

Support from the broader market would be needed for Bitcoin to break out from this morning’s high $35,886.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at $36,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $37,500 before any pullback. The second major resistance level sits at $36,473.

A fall through the $34,915 pivot would bring the first major support level at $34,386 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$33,000 levels. The second major support level at $33,357 should limit the downside.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 26th, 2021

Ethereum

Ethereum rose by 0.29% on Sunday. Following a 2.83% gain from Saturday, Ethereum ended the week up by 15.94% to $2,193.03.

A mixed start to the day saw Ethereum rise to an early morning high $2,196.70 before hitting reverse.

Falling short of the first major resistance level at $2,222, Ethereum fell to an early afternoon intraday low $2,108.08.

Ethereum fell through the first major support level at $2,129 before a late rally to an intraday high $2,197.05. In spite of the late move, Ethereum continued to fall well short of the major resistance levels.

At the time of writing, Ethereum was up by 0.32% to $2,200.00. A mixed start to the day saw Ethereum fall to an early morning low $2,172.99 before rising to a high $2,200.00.

Ethereum left the major support and resistance levels untested early on.

ETHUSD 260721 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,166 pivot to bring the first major resistance level at $2,224 into play.

Support from the broader market would be needed, however, for Ethereum to breakout from Sunday’s high $2,197.05.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could resistance at $2,300 before any pullback. The second major resistance level sits at $2,255.

A fall the $2,166 pivot would bring the first major support level at $2,135 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,077 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,135

Pivot Level: $2,166

First Major Resistance Level: $2,224

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 1.32% on Sunday. Following a 1.46% gain on Saturday, Litecoin ended the week up by 7.24% to $127.75.

After a mixed start to the day, Litecoin rose to late morning intraday high $128.12 before hitting reverse.

Coming up against the first major resistance level at $128, Litecoin fell to an early afternoon intraday low $123.62.

Finding support at the first major support level at $124, Litecoin moved back through to $127 levels and into the green.

At the time of writing, Litecoin was up by 0.44% to $128.31. A mixed start to the day saw Litecoin fall to an early morning low $127.03 before rising to a high $128.57.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 260721 Hourly Chart

For the day ahead

Litecoin would need to avoid the $127 pivot to bring the first major resistance level at $129 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $128.50 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $130 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $135. The second major resistance level sits at $131.

A fall through the $127 pivot would bring the first major support level at $125 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level at $122 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $125

Pivot Level: $127

First Major Resistance Level: $129

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP fell by 0.48% on Sunday. Following a 0.01% gain on Saturday, Ripple’s XRP ended the week up by 3.29% to $0.60678.

A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.61238 before hitting reverse.

Falling short of the first major resistance level at $0.6198, Ripple’s XRP slid to an early afternoon intraday low $0.59150.

Ripple’s XRP fell through the first major support level at $0.6002 before a partial recovery to $0.60 levels.

At the time of writing, Ripple’s XRP was up by 0.63% to $0.61059. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.60700 to a high $0.61059.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 260721 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.6036 pivot to bring the first major resistance level at $0.6156 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.61238.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.63 before any pullback. The second major resistance level sits at $0.6244.

A fall through the $0.6036 pivot would bring the first major support level at $0.5947 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.5827.

Looking at the Technical Indicators

First Major Support Level: $0.5947

Pivot Level: $0.6036

First Major resistance Level: $0.6156

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

Please let us know what you think in the comments below.

Thanks, Bob