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BTC, ETH and XRP Price Analysis for July 19

Price Predictions
Mon, 07/19/2021 - 13:58
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Denys Serhiichuk
Can Ethereum (ETH) or XRP withstand the fall of Bitcoin (BTC)?
BTC, ETH and XRP Price Analysis for July 19
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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The new week has begun with a bearish mood on the cryptocurrency market as most of the coins are in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

On Saturday, the pair recovered to the average price area, and on Sunday, the Bitcoin (BTC) price tested the line of the local down trend. On small volumes, buyers could not overcome this resistance, and the price returned to the monthly minimum zone.

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

There was no strong pressure from the bears, and they were unable to test the $30,595 level. Over the past night, the pair recovered to the area of ​​the two-hour EMA55, trying to break through the down-trend line. But trading volumes are still below average, and small purchases do not allow the price of BTC to get out of the descending channel.

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BTC, BNB, ADA, DOGE and LTC Price Analysis for July 18

If the bulls form a bullish momentum, they may overcome the resistance of the trend line and consolidate in the point of control area ($32,794) of the Volume Profile indicator.

Bitcoin is trading at $30,724 at press time.

ETH/USD

On Saturday, Ethereum (ETH) consolidated in the area of average prices, and on Sunday, buyers formed a fairly strong bullish momentum and tried to test the psychological level of $2,000.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

However, the retaliatory bearish blow knocked the Ether price below the two-hour EMA55. Over the past night, sellers returned the pair to the support area of $1,860 at low volumes. In this case, a decline to the support at $1,730 is the most likely scenario at the moment.

Ethereum is trading at $1,811 at press time.

XRP/USD

On Saturday, the XRP price was trying to recover, and on Sunday morning, buyers were able to test the two-hour moving average EMA55. Buyers were unable to overcome this resistance around $0.60 and, during the day, the pair retraced slightly.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Bears have seized the initiative in the mid-term projection and may continue the decline to the vital mark of $0.50.

XRP is trading at $0.5564 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.