Price analysis 7/10: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC
2 min read
Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (
Dogecoin price analysis
Buyers are finding it difficult to propel Dogecoin (DOGE) above the 20-day EMA ($0.07), indicating that the bears are defending the level with vigor.
The bears will try to sink the price to the strong support at $0.06. This level is likely to attract buyers. If the price rebounds off this level with strength, it will signal that the DOGE/USDT pair may extend its range-bound action between $0.06 and $0.07 for a few more days.
The next trending move is expected to begin after buyers drive the price above $0.07 or bears sink the pair below $0.06. Until then, random and volatile price action is likely to continue.
Solana price analysis
Solana (SOL) turned down from the immediate resistance at $22, indicating that bears continue to sell on minor rallies.
The SOL/USDT pair could correct to the 20-day EMA ($19.15), which is an important support level to keep an eye on. If the price rebounds off this level, the bulls will again try to clear the overhead hurdle at $22. If they can pull it off, the pair will complete a bullish head-and-shoulders pattern. The pair could then start a rally toward $27.12.
On the contrary, if the price continues lower and plummets below the 50-day SMA ($18.44), several aggressive bulls may get trapped. That could result in long liquidation, pulling the pair near $15.28.
Litecoin price analysis
Buyers tried to arrest Litecoin’s (LTC) correction at the 20-day EMA ($95), but the bears had other plans. Sellers pulled the price below the 20-day EMA on July 10.
The bulls are trying to push the price back above the 20-day EMA, as seen from the long tail on the day’s candlestick. If they do that, the LTC/USDT pair may rise to the psychological level of $100. A break above this resistance could start a stronger recovery toward $106 and then $115.
Conversely, if the price turns down from the current level, it will suggest that the bears are not willing to let go of their advantage. The pair may then descend to the 50-day SMA ($89) and subsequently to $81.
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