Bitcoin
Bitcoin has dropped by 3% over the course of the last trading week. It now sits at $9,445. It began the week by battling against the $9,815 mark and then climbed higher until it reached $10,000. BTC failed to gain traction above $10,000 yesterday and fell by an alarming 7%.
It found some support on a rising trendline, which is what has maintained the bullish momentum for the moment.
If buyers continue to push upwards, the resistance levels are $9,815 or $10,000. Additional resistance can be expected above at $10.226 and $10.430.
Support is found at $9,000 and $9,150 (.382 Fib retracement) if sellers are able to break below the trendline.
Ethereum
Ethereum has dropped by 2.5% in the last week. ETH started the week at $240 as it was making a move higher to $250. It was unable to rise above $250 yesterday, which led ETH to fall to the $225 level.
If the buyers continue to push up, there is resistance at $250 and $245. Over $250, additional resistance is at $265. (Bearish.886Fib Retracement).
In the event that the sellers decide to push the price lower, $225 is the expected first support. Support is also found below this at $215 or $200.
ETH has a hard time breaking the resistance at 0.0253 BTC. From here, the coin has fallen lower as it trades now at 0.025 BTC.
Above this, additional resistance lies at 0.026 BTC (bearish.786 Fib Retracement) and 0.0263 BTC. The next level of resistance above this is 0.026 BTC. (Bearish.786 fib Retracement).
If the sellers are pushing below 0.025 BTC then support is found at 0.0239 BTC (0.236% Fib Retracement), 0.0243 BTC (0.236% Fib retracement) and 0.0235 BTC (0.382% Fib retracement).
Ripple
The cryptocurrency XRP dropped by 4 percent this week after it fell below the $0.192 level of support. The XRP struggled to rise above the 100 days EMA, and upper boundary of triangle throughout the month of June. This caused the XRP to fall below the triangle on yesterday.
XRP managed to find a strong support level at $0.187, and it has re-entered into the triangle.
If the sellers continue to push below $0.192 then support will be found at $0.187. Below this level, there is support at $0.0175 (0.5% Fib Retracement), and $0.0171.
If the buyers continue to push up, then the first resistance level is $0.2. Resistance lies above this at $0.206 (100% EMA of 100-days) and $0.215.
Yesterday, XRP’s price against Bitcoin reached a 2-year-low of 2022 SAT. It had struggled to keep its price above 2071 SAT ever since the middle of May. This week, however, it was unable to keep the coin’s support after XRP reached new lows.
If sellers are willing to continue below the 2022 SAT level, they can expect support at 2000 SAT as well as 1950 SAT or 1890 SAT.
Resistance is found at the 2071 SAT mark, as well as 2100 SAT and 2200 SAT.
VeChain
VET has seen a 40% increase in price over the past week. The coin is now trading at around $0.0096. It started out the week at a price of $0.007, and then began to rise. The cryptocurrency quickly reached a new 2020 high of $0.0089, and then went up to $0.0107 where it met resistance from a 1.272-FIB Extension.
Look ahead. If buyers continue to push up, they will find resistance at $0.0099 ($.786 bearish Fib Retracement), as well as $0.0107 and $0.0115 (1.41 Fib Extension).
If the sellers continue to push the price lower, then the first strong level of support is $0.0091 (0.236 Fib retracement). Support is also found between $0.0085 ($.382 Fib) and $0.008.
VET also has been rampaging against Bitcoin, surging to the level of 100 SAT and creating a brand new high for 2020. Coin started out the week around 70 SAT, before starting to rise higher. This led to a brand new high of 2020.
If buyers are able to continue their upward movement above 102 SAT resistance will be seen at 111 SAT – a bearish.618 fib Retracement, 119 SAT – 1.414 Fib Expansion and 131 SAT – a bearish.786 fib Retracement.
Support is available at 93 SAT. Below this level, you can find support at 83 SAT.
Kyber Network
KNC experienced a 69% increase in price this week when it reached the $1.25 level. Cryptocurrency KNC began the week trading below $0.77, before beginning its upward climb. KNC broke through the $90 2020 high during this push and reached as high as $0.30, before crashing to $1.25.
The next resistance levels are $1.35 (1.41 is a bearish.382 Fib) and $146 (12.72 Fib).
If the sellers continue to push down, the support levels are $1.20 ($1.12), $0.98 ($0.098) (.382 Fib retracement).
KNC has also exploded against Bitcoin this week, reaching the 13,570 SAT levels. Previously, the coin traded within a symmetrical triangular pattern. It broke out of this pattern to start the week. The coin broke the 2020 high of 11,000 SAT, and then reached resistance at 13,570 SAT.
If the buyers continue to push up above 14,800 SAT (1,414 Fib extension), then resistance will be at 15,400 SAT (0.382 bearish Fib Retracement) and 16,610 SAT (1,618 Fib extension).
A second option is for the sellers to push the price lower. The first support level would be at 11,900 SAT (0.236 Fib retracement). Below this level, there is support at 10,880 SAT (0.382 Fib retracement) as well as 10,000 SAT.
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