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Ripple Price Analysis: XRP Pushes Above $0.20

  • XRP saw a serious 8.3% increase today as it returned to the $0.2 level.
  • The latest price rise allowed XRP to climb above the 100-day EMA as it attempts to start a recovery.
  • Against Bitcoin, XRP finally rebounded from 1900 SAT to climb toward 2160 SAT.

Key Support & Resistance Levels

XRP/USD:
Support: $0.196, $0.192, $0.175.
Resistance: $0.21, $0.215, $0.225.
XRP/BTC:
Support: 2100 SAT, 2070 SAT, 2000 SAT.
Resistance: 2200 SAT, 2250 SAT, 2360 SAT.

XRP/USD: XRP Bulls Reclaim $0.2

XRP started July off by trading at the support at $0.175 (.5 Fib Retracement level). The bulls defended this level and prevented XRP from slipping beneath. This week, XRP pushed higher from $0.175 as it reached $0.19 yesterday.

In today’s trading session, XRP moved higher from $0.19 to break the 100-days EMA and climb above the $0.20 level.

xrpusd-jul8
XRP/USD. Source: TradingView

XRP-USD Short Term Price Prediction

Moving forward, if the bulls continue to push higher, initial resistance lies at $0.21 (200-days EMA). Above this, resistance can be expected at $0.215 and $0.225 (bearish .5 Fib Retracement).

On the other side, the first level of support is found at $0.196 (100-days EMA). This is followed by added support at $0.192 (.382 Fib Retracement) and $0.175 (.5 Fib Retracement).

The RSI is well above the 50 line to indicate that the bulls are in total control of the market momentum. However, the Stochastic RSI is in overbought conditions and is primed for a bearish crossover signal that could send the market lower.

XRP/BTC: XRP Rebounds From 1900 SAT Disaster

Against Bitcoin, XRP suffered greatly during May and June after the coin dropped from 2500 SAT to reach as low as 1900 SAT. Luckily, the bulls rebounded from the support at 1900 SAT at the start of July.

The buyers met some resistance at 2000 SAT yesterday, but the price hike seen today allowed XRP to break this level to reach 2160 SAT.

xrpbtc-jul8
XRP/BTC. Source: TradingView

XRP-BTC Short Term Price Prediction

If the buyers continue, resistance is found at 2200 SAT, 2250 SAT (bearish .236 Fib Retracement), and 2360 SAT.

On the other side, support is found at 2100 SAT, 2071 SAT, and 2000 SAT.

Likewise, the Stochastic RSI is in overbought conditions and is primed for a bearish crossover signal that could result in a retracement for XRP.

The post Ripple Price Analysis: XRP Pushes Above $0.20 as Bulls Chart Another 8% Daily Increase appeared first on CryptoPotato.

Source: Crypto Potato

Cardano Price Analysis: ADA Breaks Above 2019’s High

  • ADA is now trading above 2019’s high following a 58% growth in 7 days.
  • The price is now approaching the 1500 SAT level with strong bullish momentum.

ADA/USD: Cardano Surges 28% After Crossing $0.1

Key Resistance Levels: $0.16, $0.2

Key Support Levels: $0.11, $0.094

adausd_chart
ADA/USD. Source: TradingView

The second half of the year is again looking promising for Cardano as it starts a new increase above the $0.094 level. In fact, the price is now trading above 2019’s high following a 58% growth in 7 days.

Looking at this increase from mid-June’s correction level – $0.0623, where the recovery started from, Cardano has gained over 100% in the last 21 days.

There’s no doubt that the 7th best-performing cryptocurrency by market cap has again turned bullish for a mid-term rally, but it may provide a small discount to somewhere around $0.11 level if a retracement occurs. Still, the price is up by 24% against the US Dollar.

Cardano Price Analysis

Following the ongoing second wave in the market, Cardano’s price could target the July 2018 resistance of $0.2. Along the way, it may encounter resistance at $0.16.

There’s no much room for the bears at the moment. If the price drops below the mentioned key retracement level, the next major rebound level to watch is the $0.094 level that got breached on July 1st. But as of now, the bulls are in control.

ADA/BTC: Cardano Eyeing 2019 High

Key Resistance Levels: 1500 SAT, 1700SAT, 1944 SAT

Key Support Levels: 1243 SAT, 1045 SAT, 900 SAT

adabtc_chart
ADA/BTC. Source: TradingView

And while Bitcoin remains calm around $9300 since yesterday, the price of Cardano has increased by almost 25% over the past 24-hours trading. The price is now approaching the 1500 SAT level with strong bullish momentum.

As spotted on the daily chart, the latest surge was characterized by a full-body candle to indicate that buyers are stepping stronger into the market with a huge volume. One thing to keep in mind here is that such a move is commonly followed by a sharp decline.

However, the future still looks very bright and promising for Cardano as long as the buyers continue to sustain pressure. Otherwise, the price may drop a bit to find reliable support to refuel bullish actions. It is currently eyeing the 1500 SAT level against Bitcoin.

ADA Price Analysis

If Cardano can close well above 1500 SAT today, the next buying pressure is most likely to target 1700 SAT before rising further to the 2019 high of 1944 SAT.

In case of a drop, the current daily low of 1243 SAT can be considered as a level for a pullback. The second level to keep in mind is the weekly support at 1045 SAT – where the grey and orange trend lines confluence. The monthly opening price at 900 SAT remains the key holding support for the weekly top-gainer.

The post Cardano Price Analysis: ADA Breaks Above 2019’s High Following 25% Daily Surge appeared first on CryptoPotato.

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China Reports Bubonic Plague Case, Should Bitcoin Miners Worry?

Authorities of Chinese city Bayan Nur issued a warning on Sunday after a reported case of bubonic plague. The city is located in the autonomous region Inner Mongolia – one of the world’s most attractive regions for Bitcoin miners.

Germ Behind Bubonic Plague Killed a Third of Europe’s Population

Bayan Nur’s health committee issued a third-level alert, which is the second-lowest in a four-level system related to public health risks. The warning came after authorities confirmed one case of bubonic plague – a disease caused by Yersinia pestis. If it doesn’t tell you anything, Yersinia pestis is the same bacterium that caused the “Black Death” in Europe’s greatest outbreak in the 14th century, which killed an estimated 50 million people or a third of the continent’s population at the time.

The same disease killed about 12 million globally in another outbreak in the 19th century.

The question is: should Bitcoin investors worry about a potential stricter lockdown that would come on top of coronavirus worries? Inner Mongolia is one of the world’s most active regions when it comes to Bitcoin mining. The short answer is no, but this is something we should monitor.

The alert issued by Bayan Nur’s authorities bans the eating of animals that may carry the bacterium. It requires the public to report any suspected cases of fever or plague with no certain causes. The city warned of risks of human-to-human infection.

The warning comes several months after Inner Mongolia reported four cases of plague last November, including two pneumonic plague cases, which is even more dangerous. The disease may be spread mostly by rodents such as rats.

As for the patient, he or she is now under treatment and is in stable condition.

So Far, Bitcoin Mining Is Safe In China

Obviously, if mining plants suffer from some type of lockdown, the price of Bitcoin will be under pressure. However, at the moment, there is no significant threat to consider. Even the coronavirus itself couldn’t seriously hinder miners in Inner Mongolia and other regions in China. Thus, the plague should not be of serious concern to Bitcoin investors as of today.

Moreover, the current plague is treatable with antibiotics, unlike the coronavirus, which has no official treatment plan.

Even without the plague, Bitcoin’s hash rate is gradually moving from China to Western countries like the US. At the end of last year, China accounted for about three-quarters of the total hash power. Last month, the figure dropped to about two-thirds, according to data from the Cambridge Center for Alternative Finance (CCAF). Elsewhere, the US noted a surge of 78% for the same period.

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Ethereum Price Analysis: ETH Bulls Back in Business But Will $250 Finally Fall?

  • Ethereum saw a 1% price hike over the past 24 hours as the coin reached $240.
  • The cryptocurrency rebounded from the strong support at $225 as it edges toward $250.
  • Against Bitcoin, Ethereum finally managed to break the strong resistance at 0.0253 BTC.

Key Support & Resistance Levels

ETH/USD:
Support: $225, $215, $210.
Resistance: $245, $250, $265.
ETH/BTC:
Support: 0.0253 BTC, 0.025 BTC, 0.0243 BTC.
Resistance: 0.026 BTC, 0.0263 BTC, 0.0266 BTC.

ETH/USD: Ethereum Bulls Set Sights For $250 Again

Ethereum was pretty much rangebound during June 2020 as it traded between $215 and $250. Each time the bulls attempted to break $250, they were turned away as prices returned to the $215 support.

Throughout July, Ethereum found very strong support at the $225 level. From there, it rebounded higher yesterday as it pushed toward the resistance at $245 (bearish .786 Fib Retracement). ETH still must pass the resistance at $250 to turn bullish again.

ethusd-jul7
ETH/USD. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, if the bulls break above $245, immediate resistance is found at $250. Beyond $this, added resistance lies at $265 (bearish .886 Fib Retracement) and $275.

On the other side, the first level of strong support lies at $225. Beneath this, added support is found at $215 (.236 Fib Retracement) and $200 (200-days EMA).

The RSI pushed above the 50 line this week to indicate the bulls have taken charge of the market momentum.

ETH/BTC: ETH Finally Breaks 0.0253 BTC.

Against Bitcoin, Ethereum had been struggling to break the strong resistance at 0.0253 BTC during June 2020. This caused ETH to trade sideways between 0.0243 BTC and 0.0253 BTC during the entire period of June.

In July, ETH pushed higher from 0.025 BTC and finally broke the 0.0253 BTC resistance yesterday. It continued to reach 0.0259 BTC (bearish .786 Fib Retracement).

ethbtc-jul7d
ETH/BTC. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, if the buyers break the 0.026 BTC level, higher resistance is located at 0.0263 BTC, 0.0266 BTC (bearish .886 Fib Retracement), and 0.0273 BTC.

On the other side, the first level of support lies at 0.0253 BTC. Beneath this, added support lies at 0.025 BTC and 0.0243 BTC (.236 Fib Retracement).

The RSI is above the 50 line as the bulls dominate the market momentum.

The post Ethereum Price Analysis: ETH Bulls Back in Business But Will $250 Finally Fall? appeared first on CryptoPotato.

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Winds of Change? Ripple (XRP) Records 3-Week High Against Bitcoin (Price Analysis)

  • XRP saw a sharp 6% price rise over the past 24 hours to bring it to $0.186.
  • Before this, XRP was trading sideways along with the support at $0.175.
  • Against Bitcoin, XRP rebounded from 1900 SAT to reach 2000 SAT.

Key Support & Resistance Levels

XRP/USD:
Support: $0.175, $0.171, $0.157.
Resistance: $0.195, $0.20, $0.21.
XRP/BTC:
Support: 1950 SAT, 1900 SAT, 1890 SAT.
Resistance: 2050 SAT, 2100 SAT, 2200 SAT.

XRP/USD: XRP Bulls Finally Wake Up

XRP fell beneath a descending triangle pattern toward the end of June 2020. After breaking below, it headed lower until finding support at $0.175 (.5 Fib Retracement level).

The bulls defended this level over the past ten days, preventing the price of XRP from heading lower. This allowed the buyers to push higher from there today as XRP reached $0.186.

xrpusd-jul6
XRP/USD. Source: TradingView

XRP-USD Short Term Price Prediction

Looking ahead, if the buyers continue to climb, resistance is expected at $0.195 (100-day EMA) and $0.20. Above $0.2, added resistance is found at $0.21 (200-day EMA).

On the other side, the first level of support is found at $0.175 (.5 Fib Retracement). Beneath this, added support is located at $0.171 and $0.157 (.618 Fib Retracement).

The RSI recently pushed higher to break above the 50 line. This indicates that the selling momentum has faded and that the buyers have taken control of the market momentum.

XRP/BTC: XRP Bounces Above 2000 SAT

Against Bitcoin, XRP dropped as low as 1900 SAT by the start of July 2020. From there, XRP reversed and started to grind higher slowly. In recent days, it found resistance at the 1950 SAT level but managed to break above it today as it reached above 2000 SAT.

The rebound from 1900 SAT prevented XRP from entering into an extended bearish trend against BTC. However, XRP is still in dangerous territory. The coin needs to rise and break above 2250 SAT to confirm the start of a recovery for XRP.

xrpbtc-jul6
XRP/BTC. Source: TradingView

XRP-BTC Short Term Price Prediction

If the bulls push higher, resistance is expected at 2050 SAT, 2100 SAT, and 2200 SAT.

On the other side, the first level of support lies at 1950 SAT. Beneath this, added support is found at 1900 SAT, 1890 SAT, and 1850 SAT.

The RSI also recently pushed higher above the 50 line to indicate bullish momentum within the market.

The post Winds of Change? Ripple (XRP) Records 3-Week High Against Bitcoin (Price Analysis) appeared first on CryptoPotato.

Source: Crypto Potato

TRON Price Analysis: TRX Looking For More Gains After Surging Today

  • The price jumped to $0.0178, following a 6% growth over the last 24-hours.
  • Against Bitcoin, TRX broke out and slowly gained momentum after staying bearish for five months.

TRX/USD: Tron Charges Back At March’s Resistance

Key Resistance Levels: $0.0186, $0.0215, $0.023

Key Support Levels: $0.0168, $0.0149, $0.014

trxusd_chart
TRX/USD. Source: TradingView

After establishing a three-weeks low around $0.015, Tron bounced back and started to show signs of strength again. The increase became noticeable as it breached a very important resistance level

This recovery was later followed by a push above $0.0168 and $0.0173 resistance levels to where it is now priced at $0.0178 against the US Dollar. The price is now approaching another crucial area at $0.0186 – the March resistance – which could send TRX quickly to $0.0268 if a breakout happens.

But a continuous rejection at this crucial resistance could suspend bullish actions for a while. A bearish scenario might come into play if the price falls beneath the yellow ascending trend line back to $0.0149. A double-top pattern would confirm if the price dips further.

Tron Price Analysis

Tron’s price almost touched $0.0179 today after seeing 8% growth over the past hours, although the significant bullish target lies at $0.0186 – the grey area in the above daily chart. A break at this level would initiate a new increase to $0.0215 and $0.023 resistance levels before advancing higher.

There’s close support at $0.0168 in case of a drop. Should the price drop below the current base support at $0.0149 to confirm a double-top pattern, the next critical support may come somewhere around $0.012, but it may encounter the $0.014 level along the way.

The latest increase in volume indicates that buyers are stepping back into the market – it could last long if the price recovers well above the March’s resistance.

TRXBTC: Tron Moving Out From Mid-Term Bearishness

Key Resistance Levels: 198 SAT, 215 SAT

Key Support Levels: 170 SAT, 150 SAT

trxbtc_chart
TRX/BTC. Source: TradingView

Following the recent 2% growth in Bitcoin’s price, Tron increased by 6% to reach 196 SAT today, but the price has dropped slightly back to 191 SAT at the moment. It seems to be gaining momentum, looking at the last 48-hours push from a key level at 170 SAT. Meanwhile, it has formed base support at the 150 SAT level.

The interesting thing here for the bulls is the recent increase above the orange resistance line, which is becoming more significant by the day, coupled with an increasing buying volume – currently low. However, the breakout still looks shaky for a bullish reversal.

Tron Price Analysis

The bullish reverse pattern is taking shape on the daily chart with a slow momentum. Meanwhile, TRX still needs to clear the mentioned key resistance levels before looking at the 215 SAT resistance. The major short-term target lies at 240 SAT and 260 SAT levels.

If the price pulls back now, it may find a rebound on the orange resistance-turned-support line. A drop below this line may slip the price back inside the grey demand area of 170 SAT, followed by the current yearly low at 150 SAT level.

The post TRON Price Analysis: TRX Looking For More Gains After Surging 8% Today appeared first on CryptoPotato.

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Bitcoin Data Not Protected by 4th Amendment, US Court Rules

A Fifth Circuit panel of three judges ruled against Richard Gratkowski’s appeal that Fourth Amendment rights should protect Bitcoin data. The panel ruled that the FBI agents who subpoenaed cryptocurrency exchange Coinbase to track Gratkowski’s payments to a child pornography website acted according to the law.

4th Amendment Doesn’t Hinder US Law Enforcement to Track Bitcoin Transactions

On Tuesday, a US court compared Coinbase to a traditional bank, citing the US Supreme Court’s decision in the United States v. Miller case from 1939, in which it ruled that bank records weren’t subject to Fourth Amendment protections.

US Circuit Judge Catharina Haynes concluded:

“Coinbase is a financial institution, a virtual currency exchange, that provides Bitcoin users with a method for transferring bitcoin. The main difference between Coinbase and traditional banks, which were at issue in Miller, is that Coinbase deals with virtual currency while traditional banks deal with physical currency.”

For those unfamiliar, the US Court of Appeals for the Fifth Circuit is a federal court with appellate jurisdiction over the district courts in three states – Louisiana, Mississippi, and Texas.

Previously, the FBI subpoenaed Coinbase to get records of Gratkowski’s payments to a child pornography site. The crypto exchange offered the US government a limited amount of data, the judges said.

The criminal complaint filed against Gratkowski in January 2018 in the Western District of Texas shows that he used Bitcoin to pay for child pornography between June 2016 and May 2017. After analyzing the blockchain transactions to track addresses that had moved Bitcoin to one of several accounts related to the site, FBI agents subpoenaed Coinbase for data on its clients.

The federal agents conducted a search warrant on Gratkowski’s house based on the information provided by Coinbase. They found a storage device containing child pornography content. As a result, Gratkowski was sentenced last year to 70 months in prison and ten years of probation.

Court Rejects Gratkowski’s Appeal

Gratkowski appealed the decision, saying that his Bitcoin data should get the same protections that the Supreme Court previously ruled for cellphone location data in its 2018 Carpenter v. United States decision.

However, the three judges unanimously disagreed. They argued that Bitcoin data is not personal and isn’t a “pervasive or insistent part of daily life.” It doesn’t provide agents with “an intimate window into a person’s life,” unlike cellphone location data.

The panel said that Bitcoin users have the alternative to not use banks at all whenever conducting transactions.
This is not the first instance when public information on blockchain helps law enforcement agencies track consumers of child pornography. Earlier this week, CryptoPotato reported that the Spanish Civil Guard arrested several people who had allegedly taken part in the distribution of child pornography.

The international investigation revolved around tracking crypto payments of users who entered child pornography websites.

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Comedian Bill Burr To Buy Bitcoin For The First Time

After a podcast with popular Bitcoin proponent Anthony “Pomp” Pompliano, the famous comedian Bill Burr said that he will buy BTC. Fellow comedian and co-host Bert Kreischer regretted not buying Bitcoin before but seemed more interested in purchasing mining equipment.

Current Economic Situation

Co-founder and partner at Morgan Creek Digital Anthony Pompliano recently appeared in a podcast jointly hosted by two popular comedians – Bill Burr and Bert Kreischer.

Bill Burr (left) and Bert Kreischer (right). Source: Facebook
Bill Burr (left) and Bert Kreischer (right). Source: Facebook

The trio discussed the current economic situation worldwide, including the mass initiatives of governments to print excessive amounts of fiat currencies during the COVID-19 crisis.

“I keep saying that the virus basically exposed all the shams in society. One of the biggest shams is all of this quantitative easing – it’s a universal basic income for rich people. They print off a bunch of money, they push it out in the economy, and asset prices go up. If you hold stocks and real estate – those prices go up. But the currency gets devalued.

If you think rich people versus poor people – rich people own assets and 50% of Americans don’t own stocks and about 40% or so can’t come with $400 for an emergency payment. They live paycheck by paycheck with just cash in the bank. 100% of their wealth is in cash. Rich people get richer; poor people get poorer.” – noted Pomp.

He highlighted the lack of proper financial education of the majority of people as the most significant factor for these inequalities. Rich people know “how the system works,” and they are trying only to protect their assets, while the rest are heading in the opposite direction.

Comedians To Get Into Bitcoin

Pomp asserted that these effects of printing lots of money in relatively short periods could be as addictive as drugs, and world governments can easily decide to continue even after the pandemic. To fight any potential consequences, he outlined Bitcoin and its maximum cap of 21 million.

“Why were we so excited about Bitcoin? A lot of people call it the “people’s money” or deflationary type of an asset. All that it means is that the US can’t print more, China can’t print more, Russia can’t print more, any other country, dictator, politician – nobody has control over it.

If there’s a set amount – 21 million ever to be created – basically, you’re protected from all of that inflation and that printing of money. So, people are slowly opting for this new asset.”

As Pomp continued explaining Bitcoin’s fundamentals and presenting the flaws in the current monetary systems, Burr emphatically said, “I’m getting Bitcoin, f*** this s***.” His colleague Kreischer was more interested in understanding BTC mining and said, “I want to get the computers that mine Bitcoin.”

Both comedians doubled-down at the end of the podcast on their stance to purchase BTC by noting to Pomp, “well, I think you have two new customers on this one, buddy.” Additionally, Burr and Kreischer admitted that they were offered to buy the primary cryptocurrency years ago, passed on the opportunity, and were now “kicking their butts” because of it.

Following the podcast, Pompliano took it to Twitter to predict that Burr and Kreischer have “kicked off a historic 18-month Bitcoin market.”

Featured image courtesy of Cheat Sheet

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Cardano Price Analysis: ADA Surges 13%

  • Cardano starts the monthly opening on a bullish foot with a total of 13% gains over the past hours.
  • The price is increasing following a huge daily buying volume.
  • Against Bitcoin, ADA surged above last month’s high after seeing 11.11% gains today.

ADA/USD: Cardano Signals Fresh Increase

Key Resistance Levels: $0.095, $0.97, $0.1

Key Support Levels: $0.082, $0.075, $0.064

adausd_chart
ADA/USD. Source: TradingView

The price of Cardano is up by 12.50% over the past hours due to the weekly recovery in the entire crypto space. It started to regain strength since it wicked at $0.064 in mid-July – where the green arrows started to form.

Followed by a steady push (the second green arrow) from around $0.075 – a crucial demand area – the price is now breaking out from a triangle pattern, which suppressed buying pressure for the past four weeks now. The current 4-hour candle closes above this triangle just validate a fresh bullish cycle for Cardano – it may not last if sellers show strong interest.

But looking at the pattern from a technical perspective, strong bullish action is expected to take place in the next few days, even if a bearish play takes place. However, it’s essential to watch out for a pullback.

Cardano Price Analysis

After breaking out from the triangle today, the price surged to $0.095 level and dropped briefly to around $0.0933 against the US Dollar. If the price continues to increase and retakes the daily peak, a new high may come around  $0.97 and potentially $0.1 level in the coming days.

A false breakout might send the price back to a daily low of $0.082, inside the triangle. It may encounter the grey demand zone at $0.075 if the price drops further. The mid-July bearish exhaustion at $0.064 remains the last defense line for the bulls. Once it breaks, Cardano may completely reverse the trend on the 4-hour outlook.

But if the 0.085 level should hold as support, more positive action is much likely to come into play.

ADA/BTC: Cardano broke July Resistance

Key Resistance Levels: 1100 SAT, 1200SAT, 1300 SAT

Key Support Levels: 900 SAT, 843 SAT, 774 SAT

adabtc_chart
ADA/BTC. Source: TradingView

Following the latest increase, Cardano surpassed last month’s high (947 SAT) and recorded a new daily high above around 1017 SAT about a few hours ago. The price has dropped to around 1007 SAT at the time of writing.

Meanwhile, the sudden increase was plotted from around 843 SAT – now weekly support – but it became significant after breaking out from an ascending triangle on Monday. This breakout could be the starting point of a second wave for Cardano as buying volume continues to increase.

But if the price drops, a pullback can be expected to around 900 SAT – where the price saw a two-day consolidation inside the immediate grey box – before resuming bullish.

Cardano Price Analysis

Looking at the current market structure, the price is likely to increase to 1100 SAT level if buyers continue to step into the market. The next buying target above this level is 1200 SAT, and perhaps 1300 SAT in the coming days.

However, if the price pulls back and fails to find support at 900 SAT, the next level to consider is the weekly low of 843 SAT. Below this, support lies at 774 SAT – the last grey area on the chart.

The post Cardano Price Analysis: ADA Surges 13% And Finally Conquers 1000 SAT appeared first on CryptoPotato.

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Ethereum Price Analysis: ETH Bulls Defending $225 And Looking For a Rebound

  • Ethereum moved sideways over the past 24 hours as the bulls battle for the $225 level.
  • The cryptocurrency has been falling all week as it drops by 5% after failing to break $250 last week.
  • Against Bitcoin, Ethereum is attempting to reclaim the 0.025 BTC level.

Key Support & Resistance Levels

ETH/USD:
Support: $225, $215, $210.
Resistance: $245, $250, $265.
ETH/BTC:
Support: 0.0243 BTC, 0.0239 BTC, 0.0236 BTC.
Resistance: 0.025 BTC, 0.0253 BTC, 0.026 BTC.

ETH/USD: Ethereum Bulls Battling To Defend $225

Ethereum has moved sideways over the last three days as the coin trades along with the $225 support level. Before this, ETH had dropped lower from $250 as it broke beneath a rising trend line and reached the support at $215 (.236 Fib Retracement), where it rebounded.

Despite this, the bulls are still battling to retain control of the market momentum. However, a drop beneath $200 could cause a shift in sentiment for ETH from bullish to bearish.

ethusd-jul1
ETH/USD. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, if the sellers push beneath $225, the first level of support lies at $215. Beneath this, added support is found at $210 (100-days EMA), $200 (200-days EMA), and $190 (.382 Fib Retracement).

On the other side, if the buyers push higher, the first level of strong resistance is located at $245 (bearish .786 Fib Retracement). Above this, resistance lies at $250 and $265 (bearish .886 Fib Retracement).

The RSI is beneath the 50 line as the sellers control the market momentum. However, the buyers are trying to get it back above 50 for another push higher. Additionally, the Stochastic RSI is primed for a bullish crossover signal.

ETH/BTC: ETH Sets Eyes For 0.025 BTC Again

Against Bitcoin, Ethereum has traded between 0.025 BTC and 0.0243 BTC for the past five days. The 0.0243 BTC level is provided by a .236 Fib Retracement and has supported ETH for the entire period of June.

For ETH to continue its bullish push higher, the coin must rise above the June 2020 resistance at 0.0253 BTC.

ethbtc-jul1
ETH/BTC. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, if the buyers push ETH higher, the first level of resistance is expected at 0.025 BTC. Above this, added resistance lies at 0.0253 BTC, 0.026 BTC (bearish .786 Fib Retracement), and 0.0263 BTC.

On the other side, the first level of support is located at 0.0243 BTC (.236 Fib Retracement). Beneath this, support lies at 0.0236 BTC (.382 Fib Retracement & 100-days MEA), and 0.023 BTC (200-days EMA and .5 Fib Retracement).

The RSI is trading at the 50 line, which indicates indecision within the market. If the RSI climbs above 50, then ETH can be expected to break the 0.0253 BTC resistance.

The post Ethereum Price Analysis: ETH Bulls Defending $225 And Looking For a Rebound appeared first on CryptoPotato.

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