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BTC, ADA, XLM and BNB Price Analysis for July 20

Price Predictions
Tue, 07/20/2021 - 14:50
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Denys Serhiichuk
Which altcoins can be the most powerful on the bearish market?
BTC, ADA, XLM and BNB Price Analysis for July 20
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls are not showing any efforts to buy back the coins, and most of the assets are in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The main crypto has gone down by 3% over the past day.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) has broken the vital $30,000 level. The selling volume is high, which means that bears may have accumulated enough power in the sideways trend for a continued drop.

Related
BTC, ETH and XRP Price Analysis for July 19

At the moment, the more likely scenario is a retest of the $31,000 mark, followed by a decrease to around $24,000.

Bitcoin is trading at $39,750 at press time.

ADA/USD

Cardano (ADA) is the biggest loser from today's list, going down by 8.27% since yesterday.

ADA/USD chart by Trading View
ADA/USD chart by Trading View

Cardano (ADA) made a false breakout of the $1.20 mark where most of the liquidity is focused. The selling trading volume is also high, which means that bears are controlling the situation at the moment. In this case, there are high chances of an ongoing decline to $0.917.

ADA is trading at $1.03 at press time.

XLM/USD

Stellar (XLM) is not an exception to the rule, declining by almost 7%.

XLM/USD chart by Trading View
XLM/USD chart by Trading View

Stellar (XLM) is trading near the last support before a potential sharp decline happens. There is little chance that the $0.19 level will off a drop. If a price decrease occurs, the closest area at which bulls may seize the initiative is the zone of the most liquidity around $0.1751.

XLM is trading at $0.20 at press time.

BNB/USD

Binance Coin (BNB) has shown a 6.84% decline since yesterday.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

The ongoing fall of the native exchange coin may be stopped when it drops to the level of $225. Now, sellers are leaving bulls no chance, and a price decrease remains the main scenario for Binance Coin (BNB). In addition, the selling trading volume is high, which makes the position of bears even stronger.

BNB is trading at $260 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.