Price analysis 7/21: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT
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Bitcoin continues to test investors’ patience, as it remains stuck inside a tight range. Although the near term is boring, traders need to be on their toes because narrow ranges are generally followed by a sharp increase in volatility. The only problem is that it is difficult to predict the direction of the breakout with certainty.
Glassnode’s latest weekly newsletter highlighted that Bitcoin’s (
Polygon price analysis
Polygon (MATIC) turned up from the 20-day EMA ($0.74) on July 20, indicating that the bulls are trying to flip the level into support.
The 20-day EMA is moving up and the RSI is in the positive zone, indicating that bulls have the upper hand. If buyers clear the overhead hurdle at $0.80, the MATIC/USDT pair could climb to $0.90. This level may again act as a minor obstacle, but if bulls overcome it, the pair may rise to $1.04.
Contrary to this assumption, if the price turns down and plummets below the 50-day SMA ($0.71), it will signal that bears are back in the game. The pair could then slide to $0.60.
Litecoin price analysis
Litecoin (LTC) has been stuck between the moving averages for the past few days, indicating indecision between the bulls and the bears.
The bulls tried to push the price above the 20-day EMA ($94) on July 19 and 20, but the bears held their ground. This shows that the bears are trying to flip the 20-day EMA into resistance. The 20-day EMA has started to turn down and the RSI has slipped into negative territory, giving a slight edge to the bears.
If the price breaks and closes below the 50-day SMA ($90), the selling could pick up and the LTC/USDT pair may slump to $80. Alternatively, a break and close above the 20-day EMA could open the doors for a relief rally to $106.
Polkadot price analysis
Polkadot (DOT) bounced off the strong support at $5.15 on July 19 and reached the overhead resistance at $5.64 on July 21, indicating that lower levels continue to attract buyers.
The long wick on the July 21 candlestick shows that the bears are aggressively selling the rallies to $5.64. This suggests that the DOT/USDT pair could remain stuck between $5.15 and $5.64 for a while longer.
A minor advantage in favor of the bulls is that the RSI has stayed in positive territory and the 20-day EMA ($5.25) is moving up gradually. Buyers need to overcome the barrier at $5.64 to start the next leg of the uptrend toward $7.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
