Bitcoin

Bitcoin saw an impressive 20% price hike this week when it hit the $ 40K resistance level. The cryptocurrency penetrated above a descending wedge formation last Thursday and continued to break above the 20-day MA level last Friday.

Since breaking the wedge, BTC has moved higher within an ascending price channel as it broke the 50-day MA level for the first time since May and continued to hit the $ 40k resistance. It broke above $ 40,000, reaching $ 40,500 (a downside of 0.382 Fib), but was unable to close a daily candle above the coveted level. Resistance is further strengthened by the 100-day moving average.

Since then, BTC has rolled over today and broke below $ 39,000. As a result, BTC is now trading below the ascending price channel.

Looking ahead, if the sellers push down, the first support is at $ 38,000. This is followed by $ 37,000, $ 36,620, $ 35,000, $ 34,710 (50-day MA), $ 34,000 (20-day MA) and $ 33,520.

On the other hand, the first resistance is found at $ 39,500. This is followed by $ 40,000 (100-day MA), $ 40,500 (down 0.382 Fib), $ 42,000 (January 2021 highs) and $ 44,750 (200-day MA).

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BTC / USD daily chart. Source: TradingView.
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BTC / USD 4-hour chart. Source: TradingView.

Ethereum

Ethereum witnessed a 15.1% price increase this week, reaching $ 2450. On Friday, it penetrated the 200-day moving average, returning above $ 2000. From there, ETH continued above the 50-day moving average and pushed higher to reach the $ 2400 resistance.

There, ETH struggled to close a daily candle above a declining trend line dating back to mid-May. As a result, ETH is now renewed and is currently trading at the support provided by a short-term rising trend line seen on the 4-hour chart.

Looking ahead, if the sellers break the trend line, the first support is at $ 2300. This is followed by $ 2250 (.236 Fib), $ 2200, $ 2150 (.382 Fib, 200 day MA and 50 day MA), $ 2070 (.5 Fib) and $ 2000.

On the other hand, the first resistance is found around $ 2400 (the downtrend line). Above this, resistance is expected at $ 2440 (extension of 1.272 Fib), $ 2530 (extension of 1.414 Fib and 100-day MA), $ 2600 and $ 2726 (bearish retracement of .382 Fib).

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ETH / USD daily chart. Source: TradingView.
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ETH / USD 4-hour chart. Source: TradingView.

Against BTC, ETH continues its consolidation within a symmetrical triangle formation. The coin hit resistance at the upper corner of the triangle last Friday and dipped lower from there until it found support at the lower corner on Wednesday at 0.0573 BTC.

It has since rebounded from there and is now testing the 20-day MA level above 0.06 BTC. A breakout is likely as soon as the market is rapidly approaching the apex of the triangle.

Looking ahead, if the bulls break out of the 20-day moving average, the first resistance will lie between 0.0616 BTC and 0.062 BTC, the 50-day moving average and the upper corner of the triangle. Above the triangle, resistance is found at 0.064 BTC (100-day MA), 0.069 BTC (bearish fib of 0.618 and July highs) and 0.072 BTC.

On the other hand, the first support is found at 0.06 BTC. This is followed by 0.058 BTC (.786 Fib and lower corner of the triangle), 0.056 BTC and 0.0541 BTC. Finally, the additional support is found at 0.05 BTC (200-day MA).

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ETH / BTC daily chart. Source: TradingView.

Ripple

XRP was up a solid 21.5% this week, making it the strongest in the top 10. It broke above the 20-day moving average at $ 0.6 on Monday and has since risen higher. It broke the 50-day moving average on Wednesday, breaking above the $ 0.7 level.

Yesterday, XRP reached a high of $ 0.782 (bearish 0.236 Fib), but failed to break out of this level. Furthermore, the 200-day moving average has further strengthened the resistance here. As a result, XRP was transferred today and is now trading around $ 0.72.

Looking ahead, the first support is at $ 0.7. This is followed by $ 0.673 (50-day MA), $ 0.62 (20-day MA), $ 0.6, and $ 0.556.

On the other hand, the first resistance is found at $ 0.78 (bearish 0.236 fib and 200-day moving average). This is followed by $ 0.8282 (2020 high), $ 0.9, $ 0.95 (100-day MA) and $ 1.00.

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XRP / USD daily chart. Source: TradingView.

XRP is also doing well against BTC after bouncing off the support at 1600 SAT on Wednesday. There, it found support in the lower corner of a short-term descending price channel that has been trading inside since early July.

The break above 1800 SAT on Wednesday allowed XRP to break the price channel and put XRP above the 20-day MA. Since then, XRP has pushed higher but is struggling to pass the 1900 SAT (July 2020 low).

Looking ahead, above 1900 SAT, the first resistance is found at 1950 SAT (50-day MA). This is followed by 2000 SAT, 2120 SAT (bearish .236 Fib) and 2300 SAT (100 days MA).

On the other hand, the first support is found at 1800 SAT (20 days MA). This is followed by 1740 SAT (200 days MA), 1660 SAT and 1600 SAT.

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XRP / BTC daily chart. Source: TradingView.

Binance coin

BNB is up a small 5.3% from where it was trading last Friday as it stands at $ 310. The cryptocurrency was below $ 300 earlier in the week, but eventually managed to push above. of it during BTC’s push to the upside.

BNB is trading inside a symmetrical triangle pattern and recently reached the upper corner of this pattern today at $ 325. A breakout of this triangle would be needed for a bullish push towards the June highs.

Looking ahead, first support is found at $ 305 (0.786 Fib and 20-day MA). This is followed by $ 300, $ 275 (lower corner of the triangle), $ 244 (.886 Fib) and $ 225 (June lows).

On the other hand, the first resistance is found at $ 325 (upper corner of the triangle). This is followed by $ 350, $ 288 (down 0.382 Fib) and $ 400 (100-day MA).

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BNB / USD daily chart. Source: TradingView.

Against BTC, BNB is struggling after setting a new two-month low this week at 0.0077 BTC. The coin fell below a symmetrical triangle pattern earlier in the week and continued to plummet over the course of the week.

It has since rebounded from its July lows and is attempting to break the 0.008 BTC resistance again.

Looking ahead, the first support is found at 0.0077 BTC. This is followed by 0.0075 BTC (.618 Fib), 0.007 BTC (200-day MA), 0.00675 BTC (May lows) and 0.0061 (.786 Fib).

On the other hand, the first resistance above 0.008 BTC is found at 0.0085 BTC. This is followed by 0.009 BTC (50-day MA), 0.0096 BTC and 0.01 BTC.

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BNB / BTC daily chart. Source: TradingView.

Solana

The SOL is up about 10% this week as the coin attempts to break resistance at the 50-day moving average level. It rebounded from $ 26.30 earlier in the week and struggled to break out of the 20-day moving average at around $ 28.

The break above the 20-day moving average finally came yesterday as the SOL climbed above $ 30. However, it is now fighting the 50-day MA resistance which is supported by the upper corner of a short-term triangle pattern.

Looking ahead, if the bulls manage to break out of the 50-day moving average at $ 32 and rise above the triangle, the first resistance will be at $ 34 (0.382 Fib bearish retracement). This is followed by $ 36 (100-day MA), $ 38.60 (0.5 bearish Fib) and $ 40.

On the other hand, the first support is found at $ 30. This is followed by $ 28.88 (.382 Fib), $ 28 (20-day MA), $ 26.30 (.618 Fb) and $ 25 (200-day MA) days and lower corner of the triangle).

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SOL / USD daily chart. Source: TradingView.

Against BTC, SOL has been steadily declining this week, but yesterday found support at June lows around 0.0007 BTC.

SOL bounced off this support yesterday and today reached the 20-day moving average at 0.000831 BTC.

Looking ahead, if buyers manage to break out of the 20-day moving average, the first strong resistance is found at 0.0009 BTC (bullish 0.382 Fib, 100-day MA and 50-day MA). This is followed by 0.001 BTC (0.5 bearish Fib), 0.00107 BTC (bearish Fib 0.618 Fib) and 0.0011 BTC.

On the other hand, the first support is found at 0.0007 BTC. Below that, support is found at 0.00061 BTC (May low), 0.000581 BTC (200 day MA), 0.00053 BTC (downside extension 1.618 Fib) and 0.0005 BTC.

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SOL / BTC daily chart. Source: TradingView.
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