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BTC, ETH and XRP Price Analysis for July 23

Price Predictions
Fri, 07/23/2021 - 12:35
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Denys Serhiichuk
Have the major coins found the support before continued growth?
BTC, ETH and XRP Price Analysis for July 23
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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Contents

Bulls have begun to lose their positions as some coins have already entered the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, the price of Bitcoin (BTC) could not overcome the resistance of $32,500, and the pair rolled back to the support of $31,700.

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

In the afternoon, buyers again tried to attack this resistance, but with the same level of success. Only at night did the bulls manage to test the POC line and hold above the level of $32,500 until morning.

Related
Ethereum (ETH) Price Analysis for July 22

If buyers continue to attack during the day, the price may reach $33,300. In case of a rollback, the level of $32,500 can be considered a weak support that can stop the decline.

Bitcoin is trading at $32,420 at press time.

ETH/USD

Yesterday morning, the Ethereum (ETH) price consolidated on the POC line ($1978). Buyers managed to pierce the psychological resistance of $2,000 several times, but the pair was able to continue growing only in the late afternoon.

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

Late at night, the price consolidated above $2,000, and in the morning, it tested the level of $2,077. At the moment, the pair is gradually rolling back from the zone of the weekly high, but if market participants maintain positive sentiment, the pair's recovery may continue to a new weekly high around $2,170.

Ethereum is trading at $2,055 at press time.

XRP/USD

XRP held above the two-hour EMA55 during the day yesterday. In the evening, buyers tried to continue the recovery. By the end of the day, they managed to test the resistance of $0.60.

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

Over the past night, the pair retraced slightly. Today, buyers again intend to break through to the area of the POC indicator line. If this level does not work out as a resistance, then the growth may continue to the $0.650 area.

XRP is trading at $0.5914 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.