The Crypto Daily – Movers and Shakers – August 1st, 2021

Bitcoin, BTC to USD, fell by 1.79% on Saturday. Partially reversing a 5.43% rally from Friday, Bitcoin ended the day at $41,439.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $42,398.0 before hitting reverse.

Falling well short of the first major resistance level at $43,562, Bitcoin fell to a late afternoon intraday low $41,051.0.

While steering clear of the first majors support level at $39,605, Bitcoin fell through the 38.2% FIB of $41,592.

Steering clear of sub-$41,000 levels, Bitcoin briefly broke back through the 38.2% FIB of $41,592 before a late slide back to sub-$41,500 levels.

The near-term bullish trend remained intact, supported by the latest return to $42,000 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 mixed day on Saturday.

Bitcoin Cash SV fell by 1.60% to lead the way down, with Litecoin (-0.81%) and Ripple’s XRP (-0.89%) also joining Bitcoin in the red.

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

Polkadot and Crypto.com Coin rallied by 8.05% and by 5.10% respectively to lead the way.

Binance Coin (+3.12%), Chainlink (+1.92%), and Ethereum (+2.84%) also found strong support.

Cardano’s ADA (+0.71%) trailed the front runners, however.

In the current the week, the crypto total market fell to a Monday low $1,379bn before rising to a Saturday high $1,646bn. At the time of writing, the total market cap stood at $1,605bn.

Bitcoin’s dominance fell to a Monday low 47.07% before rising to a Saturday high 49.18%. At the time of writing, Bitcoin’s dominance stood at 48.29%.

This Morning

At the time of writing, Bitcoin was down by 0.78% to $41,115.0. A mixed start to the day saw Bitcoin rise to an early morning high $41,468.9 before falling to a low $41,105.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was up by 1.02% at the start of the day to buck the trend.

It was a bearish start for the rest of the majors, however.

At the time of writing, Ripple’s XRP was down by 0.40% to lead the way down.

BTCUSD 010821 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the 38.2% FIB of $41,592 and the $41,629 pivot to bring the first major resistance level at $42,208 into play.

Support from the broader market would be needed for Bitcoin to break back through to $42,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $42,398.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $43,500 before any pullback. The second major resistance level sits at $42,976.

Failure to move through the 38.2% FIB and the $41,629 pivot would bring the first major support level at $40,861 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$40,000 levels. The second major support level at $40,282 should limit the downside.

The Crypto Daily – Movers and Shakers – July 31st, 2021

Bitcoin, BTC to USD, rallied by 5.43% on Friday. Following a 0.05% gain on Thursday, Bitcoin ended the day at $42,214.5.

A mixed start to the day saw Bitcoin fall to a late morning intraday low $38,343.0 before making a move.

Bitcoin fell through the first major support level at $39,331 before rallying to a final hour intraday high $42,299.2.

Bitcoin broke through the first major resistance level at $40,682 and the second major resistance level at $41,328.

More significantly, Bitcoin also broke through the 38.2% FIB of $41,592 to end the day at $42,000 levels.

The near-term bullish trend remained intact, supported by the latest return to $42,000 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 mixed day on Friday.

Crypto.com Coin and Polkadot fell by 1.22% and by 1.83% respectively to buck the trend on the day.

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

Chainlink surged by 15.16% to lead the way. Bitcoin Cash SV (+3.99%), Ethereum (+3.37%), and Litecoin (+2.86%) also found strong support.

Binance Coin (+1.73%), Cardano’s ADA (+1.99%), and Ripple’s XRP (+0.38%) trailed the front runners, however.

In the current the week, the crypto total market fell to a Monday low $1,379bn before rising to a Friday high $1,640bn. At the time of writing, the total market cap stood at $1,610bn.

Bitcoin’s dominance fell to a Monday low 47.07% before jumping to a Wednesday high 49.16%. At the time of writing, Bitcoin’s dominance stood at 49.02%.

This Morning

At the time of writing, Bitcoin was down by 0.47% to $42,017.0. A mixed start to the day saw Bitcoin rise to an early morning high $42,398.0 before falling to a low $41,677.5.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV was down by 0.99% to buck the early trend and join Bitcoin in the red.

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

At the time of writing, Crypto.com Coin was up by 4.85% to lead the way.

BTCUSD 310721 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the 38.2% FIB of $41,592 and the $40,952 pivot to bring the first major resistance level at $43,562 into play.

Support from the broader market would be needed for Bitcoin to break out from $42,500 levels.

Barring a broad-based crypto rally, the first major resistance level 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 $44,908.

A fall through the 38.2% FIB and the $40,952 pivot would bring the first major support level at $39,605 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$38,000 levels. The second major support level sits at $36,966.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 31st, 2021

Ethereum

Ethereum rose by 3.37% on Friday. Following a 3.59% gain on Thursday, Ethereum ended the day at $2,463.90.

A mixed start to the day saw Ethereum fall to a late morning intraday low $2,317.51 before making a move.

Steering clear of the first major support level at $2,301, Ethereum rallied to a late intraday high $2,472.18.

Ethereum broke through the first major resistance level at $2,433 to end the day at $2,470 levels.

At the time of writing, Ethereum was down by 0.63% to $2,448.28. A mixed start to the day saw Ethereum rise to an early morning high $2,468.76 before falling to a low $2,443.35.

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

ETHUSD 310721 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,418 pivot to bring the first major resistance level at $2,518 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $2,472.18.

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

In the event of another broad-based crypto rally, Ethereum could resistance at $2,650 before any pullback. The second major resistance level sits at $2,573.

A fall through the $2,418 pivot would bring the first major support level at $2,364 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$2,200 levels. The second major support level at $2,263 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,364

Pivot Level: $2,418

First Major Resistance Level: $2,518

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.86% on Friday. Following a 0.74% gain on Thursday, Litecoin ended the day at $145.62.

A mixed start to the day saw Litecoin fall to a late morning intraday low $135.92 before making a move.

Litecoin fell through the first major support level at $138 before rallying to a final our intraday high $145.93.

Litecoin broke through the first major resistance level at $144 to end the day at $145 levels.

At the time of writing, Litecoin was down by 0.68% to $144.63. A mixed start to the day saw Litecoin rise to an early morning high $145.84 before falling to a low $144.50.

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

LTCUSD 310721 Hourly Chart

For the day ahead

Litecoin would need to avoid the $143 pivot to bring the first major resistance level at $149 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $145.93.

Barring an extended crypto rally, the first major resistance level and resistance at $150 would likely cap any upside.

In the event of another extended breakout, Litecoin could test resistance at $155. The second major resistance level sits at $153.

A fall through the $143 pivot would bring the first major support level at $139 into play.

Barring an extended sell-off, however, Litecoin should continue to steer clear of sub-$135 levels. The second major support level sits at $133.

Looking at the Technical Indicators

First Major Support Level: $139

Pivot Level: $143

First Major Resistance Level: $149

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 0.38% on Friday. Following a 2.39% gain on Thursday, Ripple’s XRP ended the day at $0.75282.

After a mixed start to the day, Ripple’s XRP fell to a late morning intraday low $0.71252 before making a move.

Steering clear of the first major support level at $0.7102, Ripple’s XRP rallied to a late intraday high $0.76948.

Falling short of the first major resistance level at $0.7778, Ripple’s XRP eased back to end the day at sub-$0.76 levels.

At the time of writing, Ripple’s XRP was down by 0.62% to $0.74818. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.75311 to a low $0.74818.

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

XRPUSD 310721 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.7449 pivot to bring the first major resistance level at $0.7774 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.76948.

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 $0.80 before any pullback. The second major resistance level sits at $0.8019.

A fall through the $0.7449 pivot would bring the first major support level at $0.7204 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.70 levels. The second major support level sits at $0.6880.

Looking at the Technical Indicators

First Major Support Level: $0.7204

Pivot Level: $0.7449

First Major resistance Level: $0.7774

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 Price Prediction – Failure to Hit $40,500 Would Bring sub-$38,000 into Play

After a bullish day for the crypto majors on Thursday, it has been a bearish morning for Bitcoin and the broader crypto market this morning.

At the time of writing, Bitcoin, BTC to USD, was down by 3.47% to $38,646.8.

A mixed start to the day saw Bitcoin rise to an early morning high $40,248.0 before hitting reverse.

Falling short of the first major resistance level at $40,682, Bitcoin slid to a late morning intraday low $38,343.0.

Bitcoin fell through the first major support level at $39,331 and the second major support level at $38,626.

Steering clear of sub-$38,000 levels, Bitcoin moved back through the 2nd major support level going into the afternoon.

BTCUSD 300721 Hourly Chart

The Rest of the Pack

It has been a bearish morning for the broader crypto market.

At the time of writing, Ripple’s XRP was down by 3.91% to lead the way down, with Litecoin (-3.64%) also struggling.

Binance Coin (-2.46%), Bitcoin Cash SV (-1.98%), Cardano’s ADA (-2.01%), Chainlink (-1.53%), Crypto.com Coin (-1.62%), and Ethereum (-1.92%) were not far behind, however.

Through the early hours, the crypto total market rose to an early morning high $1,569bn before falling to a low $1,495bn. At the time of writing, the total market cap stood at $1,509bn.

Bitcoin’s dominance rose to an early high 48.47% before falling to a low 48.07%. At the time of writing, Bitcoin’s dominance stood at 48.12%.

For the Afternoon Ahead

Bitcoin would need to move back through the first major support level and the $39,977 pivot to bring the first major resistance level at $40,682 into play.

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

Barring an extended crypto rally through the afternoon, the first major resistance level at $40,682 would likely limit any upside.

In the event of a breakout, however, Bitcoin should target the 38.2% FIB of $41,592 before any pullback. The second major resistance level sits at $41,328.

Failure to move back through the first major support level at $39,331 pivot would bring the second major support level at $38,626 back into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$38,000 levels, however. The third major support level sits at $37,275.

Looking beyond the support and resistance levels, we saw the 50 EMA narrow on the 100 and 200 EMAs this morning. This supported the downside through the morning.

A further narrowing of the 50 on 100 and 200 EMAs this afternoon would bring sub-$38,000 levels into play.

Key going into the afternoon will be for Bitcoin to avoid a fall back through the morning low $38,343.0 to sub-$38,000 levels.

The Crypto Daily – Movers and Shakers – July 30th, 2021

Bitcoin, BTC to USD, rose by 0.05% on Thursday. Following a 1.33% gain from Wednesday, Bitcoin ended the day at $40,036.1.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $39,272.0 before making a move.

Steering clear of the first major support level at $38,913, Bitcoin rose to a late morning intraday high $40,623.0.

Falling short the first major resistance level at $41,010, however, Bitcoin fell back to sub-$39,500 levels before finding support. A late move back through to $40,000 reversed losses from the day.

The near-term bullish trend remained intact, supported by the latest return to $40,000 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 mixed day on Thursday.

Cardano’s ADA slipped by 0.15% to buck the trend.

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

Polkadot rallied by 4.94% to lead the way, with Crypto.com Coin (+2.33%), Ethereum (+3.59%), and Ripple’s XRP (+2.39%) also finding strong support.

Binance Coin (+1.00%), Bitcoin Cash SV (+0.41%), Chainlink (+1.36%), and Litecoin (+0.74%) saw modest gains, however.

In the current the week, the crypto total market fell to a Monday low $1,379bn before rising to a Monday high $1,606bn. At the time of writing, the total market cap stood at $1,553bn.

Bitcoin’s dominance fell to a Monday low 47.07% before jumping to a Wednesday high 49.16%. At the time of writing, Bitcoin’s dominance stood at 48.44%.

This Morning

At the time of writing, Bitcoin was up by 0.09% to $40,071.0. A mixed start to the day saw Bitcoin fall to an early morning low $39,779.0 before rising to a high $40,122.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.15%), Chainlink (-0.06%), Polkadot (-0.50%), and Ripple’s XRP (-0.33%) saw early red.

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

At the time of writing, Crypto.com Coin was up by 0.81% to lead the way.

BTCUSD 300721 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the $39,977 pivot to bring the first major resistance level at $40,682 into play.

Support from the broader market would be needed for Bitcoin to break out from Thursday’s high $40,623.0.

Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at the 38.2% FIB of $41,592 before any pullback. The second major resistance level sits at $41,328.

Failure to avoid a fall back through the $39,977 pivot would bring the first major support level at $39,331 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $38,626.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 30th, 2021

Ethereum

Ethereum rose by 3.59% on Thursday. Following a 0.01% gain on Wednesday, Ethereum ended the day at $2,383.32.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,267.78 before making a move.

Steering clear of the first major support level at $2,248, Ethereum rallied to a late intraday high $2,399.99.

Ethereum broke through the first major resistance level at $2,351 to end the day at $2,380 levels.

At the time of writing, Ethereum was down by 0.45% to $2,372.50. A mixed start to the day saw Ethereum rise to an early morning high $2,389.54 before falling to a low $2,365.84.

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

ETHUSD 300721 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,350 pivot to bring the first major resistance level at $2,433 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $2,399.99.

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

In the event of another broad-based crypto rally, Ethereum could resistance at $2,500 before any pullback. The second major resistance level sits at $2,483.

A fall through the $2,350 pivot would bring the first major support level at $2,301 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$2,200 levels. The second major support level at $2,218 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,301

Pivot Level: $2,350

First Major Resistance Level: $2,433

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.74% on Thursday. Following a 4.24% rally on Wednesday, Litecoin ended the day at $141.52.

A mixed start to the day saw Litecoin fall to an early morning intraday low $136.63 before making a move.

Steering clear of the first major support level at $135, Litecoin rallied to a late intraday high $142.97.

Falling short of the first major resistance level at $144, however, Litecoin slipped back to end the day at sub-$142 levels.

At the time of writing, Litecoin was down by 0.66% to $140.59. A mixed start to the day saw Litecoin rise to an early morning high $142.00 before falling to a low $140.59.

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

LTCUSD 300721 Hourly Chart

For the day ahead

Litecoin would need to avoid the $140 pivot to bring the first major resistance level at $144 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $142.97.

Barring an extended crypto rally, the first major resistance level and resistance at $145 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 $147.

A fall through the $140 pivot would bring the first major support level at $138 into play.

Barring an extended sell-off, however, Litecoin should continue to steer clear of sub-$130 levels. The second major support level at $134 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $138

Pivot Level: $140

First Major Resistance Level: $144

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 2.39% on Thursday. Following Wednesday’s 13.80% breakout, Ripple’s XRP ended the day at $0.74995.

After a mixed start to the day, Ripple’s XRP fell to a mid-day intraday low $0.69828 before making a move.

Steering clear of the first major support level at $0.6592, Ripple’s XRP rallied to a final hour intraday high $0.76596.

Falling short of the first major resistance level at $0.7806, Ripple’s XRP eased back to end the day at sub-$0.75 levels.

At the time of writing, Ripple’s XRP was down by 1.67% to $0.73739. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.75261 before falling to a low $0.73739.

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

XRPUSD 300721 Hourly Chart

For the day ahead

Ripple’s XRP will need to move back through the $0.7381 pivot to bring the first major resistance level at $0.7778 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.76596.

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 $0.80 before any pullback. The second major resistance level sits at $0.8057.

Failure to move back through the $0.7381 pivot would bring the first major support level at $0.7102 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.70 levels. The second major support level sits at $0.6704.

Looking at the Technical Indicators

First Major Support Level: $0.7102

Pivot Level: $0.7381

First Major resistance Level: $0.7778

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 Price Prediction – Avoiding a Return to sub-$40,000 Would Bring $41,500 into Play

After a bullish day for the crypto majors on Wednesday, it has been a mixed morning for Bitcoin and the broader crypto market this morning.

At the time of writing, Bitcoin, BTC to USD, was up by 0.21%to $40,100.0.

A mixed start to the day saw Bitcoin fall to an early morning low $39,272.0 before making a move.

Steering clear of the first major support level at $38,913, Bitcoin rose to a late morning current day high $40,623.0.

Bitcoin fell short of Wednesday’s high $40,900.0 and the first major resistance level at $41,010.

BTCUSD 290721 Hourly Chart

The Rest of the Pack

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

At the time of writing, Ripple’s XRP was down by 3.47%, giving up some of Wednesday’s 13.8% rally.

Bitcoin Cash SV (-0.10%), Cardano’s ADA (-0.66%), Chainlink (-0.36%), Litecoin (-0.51%) also struggled.

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

Through the morning, Polkadot was up by 1.46% to lead the way, with Crypto.com Coin gaining 1.33%.

Binance Coin (+0.16%) and Ethereum (+0.48%) also found support.

Through the early hours, the crypto total market fell to an early morning low $1,507bn before rising to a high $1,552bn. At the time of writing, the total market cap stood at $1,538bn.

Bitcoin’s dominance fell to an early low 48.90% before rising to a high 49.15%. At the time of writing, Bitcoin’s dominance stood at 48.95%.

For the Afternoon Ahead

Bitcoin would need to avoid a fall back through the $39,907 pivot to bring the first major resistance level at $41,010 back into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $40,623.0.

Barring an extended crypto rally through the afternoon, expect resistance at $40,500 to pin Bitcoin back.

In the event of a breakout, however, Bitcoin should target $42,500 levels before any pullback. The second major resistance level sits at $42,004. Bitcoin would need plenty of support, however, to breakout from the 38.2% FIB of $41,592.

A fall back through the $39,907 pivot would bring the first major support level at $38,913 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$38,000 levels, however. The second major support level sits at $37,810.

Looking beyond the support and resistance levels, we saw the 50 EMA hold its ground against the 100 and 200 EMAs this morning. This supported the modest upside through the morning.

A widening of the 50 from 100 and 200 EMAs this afternoon would bring the 38.2% FIB of $41,592 into play.

Key going into the afternoon will be for Bitcoin to avoid a fall back through the pivot to sub-$39,500 levels.

Bitcoin Remains Stuck Near The Key $40,000 Level

Bitcoin Needs Additional Catalysts To Settle Above $40,000

Bitcoin continues its attempts to settle above the $40,000 level while crypto markets lack momentum as traders wait for clues from the world’s leading cryptocurrency.

Ethereum is flat near the $2,300 level while XRP is moving lower towards the $0.70 level. Dogecoin is trying to settle back below the 20 EMA at $0.2030.

Bitcoin has already made several attempts to settle above the key resistance level at $40,000 but failed to develop sufficient upside momentum, and it looks that it will need additional catalysts to move above this level.

Technical Analysis

bitcoin july 29 2021

Bitcoin is currently testing the nearest resistance level which is located at $40,000. RSI has recently entered into the overbought territory, but there is enough room to gain additional upside momentum in case the right catalysts emerge.

If Bitcoin manages to settle above $40,000, it will get to the test of the next resistance level which is located at June highs at $41,300. A move above this level will be a major development as it will show that Bitcoin is ready to develop additional upside momentum.

In case Bitcoin gets above $41,300, it will head towards the resistance at $42,000. This move should be fast as short-sellers will likely rush to close their positions if Bitcoin gets above June highs.

A successful test of the resistance at $42,000 will open the way to the test of the next resistance level at $44,000. If Bitcoin gets above this level, it will move towards the resistance at $46,000.

On the support side, the nearest support level for Bitcoin is located at $38,000. If Bitcoin manages to settle below this level, it will gain additional downside momentum and head towards the next support level which is located near the 50 EMA at $36,000.  A move below the 50 EMA will push Bitcoin towards the next support level near the 20 EMA at $35,000.

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

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 29th, 2021

Ethereum

Ethereum rose by 0.01% on Wednesday. Following a 3.23% gain from Tuesday, Ethereum ended the day at $2,300.42.

A mixed start to the day saw Ethereum fall to a mid-morning intraday low $2,245.10 before making a move.

Steering clear of the first major support level at $2,195, Ethereum rallied to a late morning intraday high $2,347.88.

Falling short of the first major resistance level at $2,364, however, Ethereum briefly fell back to sub-$2,300 and into the red.

A late move back through to $2,300 levels prevented a loss on the day.

At the time of writing, Ethereum was down by 0.42% to $2,290.87. A mixed start to the day saw Ethereum rise to an early morning high $2,301.39 before falling to a low $2,286.48.

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

ETHUSD 290721 Hourly Chart

For the day ahead

Ethereum would need to move back through the $2,298 pivot to bring the first major resistance level at $2,351 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $2,347.88.

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

In the event of another broad-based crypto rally, Ethereum could resistance at $2,400 before any pullback. The second major resistance level sits at $2,401.

Failure to move back through the $2,298 pivot would bring the first major support level at $2,248 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$2,100 levels. The second major support level at $2,195 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,248

Pivot Level: $2,298

First Major Resistance Level: $2,351

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 4.24% on Wednesday. Following a 2.78% gain on Tuesday, Litecoin ended the day at $140.47.

A mixed start to the day saw Litecoin fall to a mid-morning intraday low $132.43 before making a move.

Steering clear of the first major support level at $130, Litecoin rallied to a late intraday high $142.07.

Litecoin broke through the first major resistance level at $138 and the second major resistance level at $140.

A late pullback, however, saw Litecoin briefly fall back through the second major resistance level before ending the day at $140 levels.

At the time of writing, Litecoin was down by 0.96% to $139.12. A bearish start to the day saw Litecoin fall from an early morning high $140.50 to a low $138.82.

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

LTCUSD 290721 Hourly Chart

For the day ahead

Litecoin would need to avoid the $138 pivot to bring the first major resistance level at $144 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $142.07.

Barring an extended crypto rally, the first major resistance level and resistance at $145 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 $148.

A fall through the $138 pivot would bring the first major support level at $135 into play.

Barring an extended sell-off, however, Litecoin should continue to steer clear of sub-$125 levels. The second major support level at $129 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $135

Pivot Level: $138

First Major Resistance Level: $144

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP surged by 13.80% on Wednesday. Following a 3.44% gain on Tuesday, Ripple’s XRP ended the day at $0.73364.

Tracking the broader market, Ripple’s XRP fell to a mid-morning intraday low $0.63183 before making a move.

Steering clear of the first major support level at $0.6211, Ripple’s XRP rallied to a late morning intraday high $0.75324.

Ripple’s XRP broke through the day’s major resistance levels to end the day at $0.73 levels.

At the time of writing, Ripple’s XRP was down by 1.31% to $0.72400. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.73927 before falling to a low $0.72174.

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

XRPUSD 290721 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.7062 pivot to bring the first major resistance level at $0.7806 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.75324.

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 $0.80 before any pullback. The second major resistance level sits at $0.8276.

A fall through the $0.7062 pivot would bring the first major support level at $0.6592 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.60 levels. The second major support level sits at $0.5848.

Looking at the Technical Indicators

First Major Support Level: $0.6592

Pivot Level: $0.7062

First Major resistance Level: $0.7806

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

Ripple Continues Its Asian Expansion Despite Ongoing SEC Case

Blockchain technology firm Ripple is expanding its services in Asia despite its ongoing legal battle in the United States with regulators.

Ripple To Deploy RippleNet In Japan For Remittance Services

Ripple announced earlier today that it would be deploying its RippleNet technology to ease cross-border remittance between Japan and the Philippines. The move would make it easier for people to send money to the Philippines from Japan, with the market worth roughly $2 billion annually.

In its blog post, the blockchain firm said this is the first time it will be deploying its On-Demand Liquidity (ODL) service in Japan. Ripple hopes it would open the door for more cryptocurrency adoption in the Asian country.

The move was made possible thanks to the partnership between SBI Remit Co., Ltd, the largest money transfer provider in Japan, and mobile payments service Coins.ph. “By leveraging the digital asset XRP to eliminate pre-funding, the two companies can also free up capital and accelerate the expansion of their own payments businesses,” Ripple added. According to Ripple, using the ODL will allow these companies to provide faster, more affordable remittance options to their customers.

SBI remains one of the leading Ripple partners, with the Japanese financial institution staying with the blockchain firm while it battles against the United States Securities and Exchange Commission (SEC).

This latest development marks another achievement for Ripple in the larger Asia-Pacific (APAC) region. Ripple is becoming a key player in a region that is currently witnessing a growing e-commerce market, increasingly mobile populations and more clarity towards cryptocurrencies. Ripple’s growing dominance in the region has seen its transaction volume surge by over 130% in the past year.

XRP Up By 12% Today

XRP has performed excellently since the start of the year. The cryptocurrency lost more than 70% of its value towards the end of last year after the US SEC accused Ripple of issuing XRP as unregistered securities. This led several exchanges to delist the coin from their platforms.

XRP/USD chart. Source: FXEMPIRE

XRP began the year trading just above $0.2. However, its value has grown significantly, and it is now up by over 300%. At the time of this writing, XRP is trading just above the $0.70 level.

Bitcoin Price Prediction – Bulls Target $41,500 to Support a Breakout to $45,000

After relatively bullish day for the crypto majors on Tuesday, it was another bullish start to the day for the broader market.

At the time of writing, Bitcoin, BTC to USD, was up by 2.81%to $40,611.5.

A mixed start to the day saw Bitcoin fall to an early morning low $38,933.0 before making a move.

Steering clear of the first major support level at $37,416, Bitcoin rallied to a late morning intraday high $40,900.0.

Bitcoin broke through the first major resistance level at $40,587 to test resistance at $41,000 before easing back.

In spite of easing back, Bitcoin avoided a fall back through the first major resistance level through the morning.

The Rest of the Pack

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

At the time of writing, Polkadot was down by 0.92% to buck the trend through the morning.

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

Through the morning, Ripple’s XRP was up by 13.84% to lead the way.

Bitcoin Cash SV (+2.07%), Cardano’s ADA (+2.02%), Crypto.com Coin (+3.94%), Litecoin (+3.99%) also found strong support.

Binance Coin (+0.86%), Chainlink (+0.45%), and Ethereum (+1.12%) trailed the front runners, however.

Through the early hours, the crypto total market fell to an early morning low $1,498bn before rising to a high $1,561bn. At the time of writing, the total market cap stood at $1,555bn.

Bitcoin’s dominance fell to an early low 48.70% before rising to a high 49.24%. At the time of writing, Bitcoin’s dominance stood at 49.16%.

For the Afternoon Ahead

Bitcoin would need to avoid a fall back through the first major resistance level at $40,587 bring the 38.2% FIB of $41,592 into play.

Support from the broader market would be needed for Bitcoin to breakout from the morning high $40,900.0, however.

Barring an extended crypto rally, the 38.2% FIB and the second major resistance level at $41,673 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could target $45,000 levels. The third major resistance level sits at $44,844.

A fall back through the first major resistance level and a fall through the $38,502 pivot would bring the first major support level at $37,416 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$38,000 levels, however. The second major support level sits at $35,331.

Looking beyond the support and resistance levels, we saw the 50 EMA pull further away from the 100 and 200 EMAs this morning. This supported the morning gains and a run at $41,000 levels.

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

A further widening of the 50 from 100 and 200 EMAs this afternoon would bring $42,000 levels into play.

Key going into the afternoon will be for Bitcoin to avoid a fall back through the first major resistance level to sub-$40,000 levels.

The Crypto Daily – Movers and Shakers – July 28th, 2021

Bitcoin, BTC to USD, rallied by 6.00% on Tuesday. Following a 5.24% gain on Monday, Bitcoin ended the day at $39,500.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $36,418.0 before making a move.

Steering clear of the first major support level at $34,804, Bitcoin rallied to a late intraday high $39,589.0.

In spite of the late rally, Bitcoin fell short of the first major resistance level at $40,166.

The near-term bullish trend remained intact, supported by the latest return to $40,000 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 mixed day on Tuesday.

Polkadot slid by 2.64%, with Crypto.com Coin falling by 0.50% to buck the trend on the day.

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

Chainlink rallied by 7.74% to lead the way once more.

Binance Coin (+3.21%), Bitcoin Cash SV (+4.06%), Ethereum (+3.23%), Litecoin (+2.78%), and Ripple’s XRP (+3.44%) also found strong support.

Cardano’s ADA (+2.00%) and trailed the front runners, however.

Early in the week, the crypto total market fell to a Monday low $1,379bn before rising to a Monday high $1,605bn. At the time of writing, the total market cap stood at $1,517bn.

Bitcoin’s dominance fell to a Monday low 47.07% before jumping to an early Wednesday high 48.79%. At the time of writing, Bitcoin’s dominance stood at 48.77%.

This Morning

At the time of writing, Bitcoin was down by 0.54% to $39,285.0. A mixed start to the day saw Bitcoin rise to an early morning high $39,590.4 before falling to a low $39,095.6.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin (+2.51%), Polkadot (+0.44%), and Ripple’s XRP (+0.21%) found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Chainlink was down by 0.71% to lead the way down.

BTCUSD 280721 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $38,502 pivot to bring the first major resistance level at $40,587 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 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at the 38.2% FIB of $41,592 before any pullback. The second major resistance level sits at $41,673.

A fall through the $38,502 pivot would bring the first major support level at $37,416 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $35,331.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 28th, 2021

Ethereum

Ethereum rose by 3.23% on Tuesday. Following a 1.64% gain on Monday, Ethereum ended the day at $2,300.59.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,152.00 before making a move.

Steering clear of the first major support level at $2,122, Ethereum rallied to an early afternoon intraday high $2,321.00.

Falling short of the first major resistance level at $2,387, however, Ethereum eased back to end the day at sub-$2,310.

At the time of writing, Ethereum was down by 0.54% to $2,288.15. A mixed start to the day saw Ethereum rise to an early morning high $2,305.76 before falling to a low $2,287.74.

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

ETHUSD 280721 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,258 pivot to bring the first major resistance level at $2,364 into play.

Support from the broader market would be needed, however, for Ethereum to breakout from Tuesday’s high $2,321.00.

Barring an extended crypto rally, the first major resistance level and resistance at $2,350 would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could resistance at $2,500 before any pullback. The second major resistance level sits at $2,427.

A fall through the $2,258 pivot would bring the first major support level at $2,194 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$2,000 levels. The second major support level at $2,089 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,194

Pivot Level: $2,258

First Major Resistance Level: $2,364

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.78% on Tuesday. Following a 2.64% gain on Monday, Litecoin ended the day at $134.74.

A mixed start to the day saw Litecoin fall to an early morning intraday low $127.43 before making a move.

Steering clear of the first major support level at $125, Litecoin rallied to a late intraday high $135.19.

Falling short of the first major resistance level at $139, however, Litecoin eased back to end the day at $134 levels.

At the time of writing, Litecoin was down by 0.59% to $133.95. A mixed start to the day saw Litecoin rise to an early morning high $135.16 before falling to a low $133.87.

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

LTCUSD 280721 Hourly Chart

For the day ahead

Litecoin would need to avoid the $133 pivot to bring the first major resistance level at $138 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 would likely cap any upside.

In the event of another extended breakout, Litecoin could test the second major resistance level at $140.

A fall through the $133 pivot would bring the first major support level at $130 into play.

Barring an extended sell-off, however, Litecoin should continue to steer clear of sub-$120 levels. The second major support level at $125 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $130

Pivot Level: $133

First Major Resistance Level: $138

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 3.44% on Tuesday. Following Monday’s 3.06% gain, Ripple’s XRP ended the day at $0.64500.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.61312 before making a move.

Steering clear of the first major support level at $0.5955, Ripple’s XRP rose to a mid-day intraday high $0.65307.

Falling short of the first major resistance level at $0.6671, however, Ripple’s XRP fell back to $0.62 levels before ending the day at $0.645 levels.

At the time of writing, Ripple’s XRP was down by 0.45% to $0.64207. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.64674 before falling to a low $0.64207.

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

XRPUSD 280721 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.6371 pivot to bring the first major resistance level at $0.6610 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.65307.

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 $0.6770.

A fall through the $0.6371 pivot would bring the first major support level at $0.6211 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.60 levels. The second major support level sits at $0.5971.

Looking at the Technical Indicators

First Major Support Level: $0.6211

Pivot Level: $0.6371

First Major resistance Level: $0.6610

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 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.

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 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.

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

The Crypto Daily – Movers and Shakers – July 25th, 2021

Bitcoin, BTC to USD, rose by 1.87% on Saturday. Following a 4.11% rally on Friday, Bitcoin ended the day at $34,279.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $33,422.0 before making a move.

Steering clear of the first major support level at $32,572, Bitcoin rallied to a late afternoon intraday high $34,527.0.

Bitcoin broke through the first major resistance level at $34,177 before a pullback to $33,700 levels.

Late in the day, however, Bitcoin broke back through the first major resistance level to end the day at $ $34,200 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 Saturday.

Ethereum rose by 2.83% to lead the way, with Cardano’s ADA (+2.11%) and Crypto.com Coin (+2.54%) close behind.

Binance Coin (+0.78%), Chainlink (+1.26%), Litecoin (+1.46%), Polkadot (+0.83%), and  Ripple’s XRP (+0.01%) trailed the front runners, however, with modest gains.

Bitcoin Cash SV ended the day flat.

In the current week, the crypto total market fell to a Tuesday low $1,154bn before rising to a Saturday high $1,410bn. At the time of writing, the total market cap stood at $1,371bn.

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 46.48%.

This Morning

At the time of writing, Bitcoin was down by 0.91% to $33,966.0. A mixed start to the day saw Bitcoin rise to an early morning high $34,486.0 before falling to a low $33,951.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin bucked the trend early on, rising by 0.18%.

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

At the time of writing, Chainlink was down by 2.43% to lead the way down.

BTCUSD 250721 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $34,076 pivot to bring the first major resistance level at $34,730 into play.

Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $34,527.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at $35,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $36,000 before any pullback. The second major resistance level sits at $35,181.

Failure to move back through the $34,076 pivot would bring the first major support level at $33,625 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$32,000 levels. The second major support level at $32,971 should limit the downside.