Main navigation

BTC, ETH, XRP, BNB, AVAX and DOT Price Analysis for July 16

Sat, 07/16/2022 - 15:49
article image
Denys Serhiichuk
Which coins accumulated enough energy for continued bull run?
BTC, ETH, XRP, BNB, AVAX and DOT Price Analysis for July 16
Cover image via

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.

Read U.TODAY on
Google News

 Bears have become active on the weekend as the majority of the coins are in the red zone.

Top coins by CoinMarketCap


The rate of Bitcoin (BTC) has dropped by 1.63% over the last 24 hours.

BTC/USD chart by TradingView

Despite a slight decline, Bitcoin (BTC) has not renewed the bearish trend as the price remains above the vital $20,000 mark. In addition, the selling volume has declined, confirming the bears' weakness.

BTC, DOGE and SHIB Price Analysis for July 14

In this case, the more likely scenario is sideways trading between $20,000 and $21,000, so the coin could get more energy for further growth.

Bitcoin is trading at $20,611 at press time.


Ethereum (ETH) has lost more than Bitcoin (BTC) as the price has dropped by almost 2%.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) has once again made a false breakout out of the resistance level at $1,281. Thus, the rate is below the $1,200 mark, which means that bears might seize the initiative if buyers cannot restore the lost position. Such a scenario is relevant until the end of the current week.

Ethereum is trading at $1,195 at press time.


XRP has followed the drop of BTC, losing 1.38% of its price share.

XRP/USD chart by TradingView

Despite the fall, XRP is looking much better than other coins, as the rate is on the way to testing the $0.3434 level again. This means that bulls might be more powerful than bears as the price has not gone down after a false breakout. Thus, the volume has increased, which is locally a bullish signal. All in all, one can see the rise to the $0.35 mark if buyers can hold the gained initiative.

XRP is trading at $0.3382 at press time.


The price of Binance Coin (BNB) has gone down by 1.17% over the past 24 hours.

​BNB/USD chart by TradingView

Binance Coin (BNB) has continued a decline after a false breakout out of the $240 mark. However, at the moment, one needs to pay close attention to yesterday's low at $235. If buyers can keep the price above that level, there are chances to see it bounce back shortly.

BNB is trading at $236.4 at press time.


Avalanche (AVAX) has suffered the worst decline today, going down by almost 5%.

AVAX/USD chart by TradingView

From the technical point of view, Avalanche (AVAX) is trading similar to BNB as there are chances to see growth after the drop below $20. Bears might seize the initiative only if they get the price back to the $18 mark.

AVAX is trading at $19.13 at press time.


Polkadot (DOT) is not an exception to the rule, falling by 4% since yesterday.

DOT/USD chart by TradingView

Polkadot (DOT) has started a correction after a failed attempt to rise above the $7 mark. At the same time, there is a possibility for bulls to seize the initiative until the price is above the $6.50 mark. If that happens, one can expect it to bounce back quickly.

DOT is trading at $6.61 at press time.

article image
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