Bitcoin price: $10,500
Key BTC resistance levels: $10,500, $11,000, $11,250 $11,500, $12,000
Key BTC support levels: $10,000, $9,477, $9,236, $9,000, $8,888

*Price at the time of writing


Bitcoin Price Analysis

Bitcoin has seen a brief period of stable prices this past week after the cryptocurrency only moves by a total of 1.87%, bringing the price for the cryptocurrency up toward the $10,551 level. The cryptocurrency has been trapped between the 21 day EMA and 50 day EMA for the past 5 days, not being able to break out of this range.

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Bitcoin remains the dominant cryptocurrency as it presently holds a $188 billion market cap valuation.

What Has Been Going On?

We can see that after declining from around $13,000, Bitcoin had managed to find support around $9,477 allowing the cryptocurrency to rebound higher. However, since Bitcoin has rebounded, it has failed to break above the resistance at the 21 day EMA. This level of resistance is further bolstered by the short term .5 Fibonacci Retracement level (drawn in green).

Bitcoin Short Term Price Prediction – Ranging

In the short term, Bitcoin is now trapped in a range between the 21 day EMA and 50 day EMA (between $10,800 and $10,000). Until this range has been resolved, we can only assume the market condition is neutral at this moment.

If the sellers do start to push the market lower, we can expect immediate support toward the downside to be located at the 50 day EMA at the $10,000 level. Beneath this, further support lies at the short term .618 Fibonacci Retracement level priced at $9,928 and then at the downside 1.272 Fibonacci Extension level (drawn in orange) priced at $9,477. 

If the selling continues beneath $9,477, the next levels of support are then expected at $9,000, $8,638, $8,500, $8,265 and $8,000.

What If The Bulls Regroup And Cause A Rebound?

Alternatively, if the buyers can regroup and push the market above the resistance at the 21 day EMA, we can expect further higher resistance above to be located at $11,000 and then at the bearish .5 Fibonacci Retracement level (drawn in red) priced at $11,473.

Above $11,500, higher resistance is then to be located at $12,000, $12,173 and $12,701.


Ethereum price: $223
Key ETH resistance levels: $225, $229, $240, $250, $275, $278, $300
Key ETH support levels: $210, $200, $193, $178, $165, $160, $152

Ethereum Price Analysis

Ethereum has seen a month of negative price pressure which has seen the price for Etheruem to drop by a total of 26%, bringing the price for the coin down to the $223 level. Ethereum had been trading above the $300 level before the price drop caused the market to fall aggressively.

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Etheruem remains ranked in the 2nd position as it presently holds a $23.91 billion market cap valuation. The cryptocurrency has still increased by a total of 55% from the yearly open.

What Has Been Going On?

We can see that July has not been kind to Ethereum as the market has tanked significantly. Ethereum had even dropped beneath the $200 level but had managed to find strong support at the short term .786 Fibonacci Retracement level (drawn in green) priced at $192.34. After reaching this level of support, we can see that Ethereum had rebounded back above $200 to reach where it currently trades around $223.

Ethereum Short Term Price Prediction – Bearish

Over the short term, our price prediction remains bearish after the significant 27% price dump seen this month. Ethereum will have to remain bearish until some higher lows and higher highs can be seen.

If the sellers start to increase the pressure again to push the market lower, we can expect immediate support toward the downside to be located at $210 and $200. If the sellers push the market beneath the $200 level, further support toward the downside is then expected at the short term .786 Fibonacci Retracement level (drawn in green) priced at $193.

Beneath $193, further support lies at $178, $165 and $160.

What If The Bulls Regroup And Cause A Rebound?

If the buyers regroup and start to push the market above the current resistance at $£230, we can expect immediate higher resistance to be located at $240, $254 and $280. Above this, higher resistance lies at $300, $315 and $334.


Ripple price: $0.32
Key XRP resistance levels: $0.34, $0.35, $0.3670, $0.37
Key XRP support levels: $0.31,  $0.30, $0.29, $0.28, $0.27, $0.26

Ripple Price Analysis

The past week has seen Ripple rebound 4% higher from the $0.30 support level to reach where it currently trades at around $0.3257. Although XRP may not have surged in the same manner that ETH and BTC did from May to July, it has still seen a precipitous 32% price drop over the past 30 days after dropping from a high above $0.40.

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Ripple is the 3rd ranked top cryptocurrency project by market cap value as it presently holds a $14 billion market cap.

What Has Been Going On?

We can see that the sharp decline had seen XRP drop back toward the $0.30 level. XRP had even traveled as low as $0.2750 but had managed to bounce higher and close the day near to the $0.30 level.

Ripple Short Term Price Prediction – Neutral

After the rebound at the $0.30 level, we can expect the short term prediction for XRP to be neutral until the market dictates the next move. This is particularly true because we believe the support at $0.30 should continue to hold the market moving forward which means that XRP is ranging between $0.30 and the $0.34 resistance level.

If the buyers can break above $0.34, we can expect higher resistance to then to be located at $0.3610, $0.3670 and $0.37. The resistance at $0.37 is particularly bolstered by both the 50 day EMA and 100 day EMA.

What If The Sellers Push The Market Lower?

If the sellers group up and push the market lower, we can expect immediate support toward the downside to be located at $0.32 and $0.3177. Beneath this, further support lies at $0.31 and $0.30. If the sellers drop XRP beneath $0.30, support is then found at $0.2890, $0.2811 and $0.2747.

Yaz Sheikh

Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potential of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

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