Price analysis 7/12: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT
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Bitcoin bulls are again having a go at the overhead resistance of $31,000. The bullish sentiment may get a
Litecoin price analysis
The long tail on Litecoin’s (LTC) July 10 candlestick shows that the bulls aggressively purchased the dip below the 20-day EMA ($95).
Buyers will have to overcome the barrier at the psychological level of $100 to signal the start of a sustained recovery. The LTC/USDT pair could then advance to $106 and subsequently strive to reach the overhead resistance at $115.
The important level to watch on the downside is the 20-day EMA. If this level fails to hold, the pair may descend to the 50-day SMA ($89). Such a move could delay the start of the next leg of the up move.
Polygon price analysis
Polygon (MATIC) soared above the overhead resistance of $0.73 on July 10, completing a bullish ascending triangle pattern.
The bulls have maintained the price above the breakout level, but they are facing stiff resistance from the bears at higher levels. If bulls sustain the price above $0.72, the MATIC/USDT pair could start a new uptrend to the pattern target of $0.94.
Conversely, if bears yank the price below $0.72, it may trap some aggressive bulls. The pair could then fall to the uptrend line, which is an important level to keep an eye on. If this support cracks, the pair could start a downward move to $0.60.
Polkadot price analysis
Polkadot (DOT) bounced off the moving averages on July 10, indicating a change in sentiment from selling on rallies to buying on dips.
The bulls will try to push the price to the overhead resistance of $5.64, while the bears will attempt to halt the recovery. The 20-day EMA ($5.11) is flattish, but the RSI above 52 shows that the bulls have a slight edge. A break and close above $5.64 will complete a bullish inverse head-and-shoulder pattern, signaling a potential trend reversal.
If bears want to prevent the up move, they will have to quickly yank the price below $4.97. The DOT/USDT pair may then drop to $4.74 and later to $4.50.
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This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
