Main navigation

BTC, XRP, and BNB Price Analysis for July 29

Price Predictions
Thu, 07/29/2021 - 17:49
article image
Denys Serhiichuk
Can XRP or Binance Coin (BNB) outperform Bitcoin (BTC)?
BTC, XRP, and BNB Price Analysis for July 29
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.

Read U.TODAY on
Google News

Bulls have seized the opportunity in the cryptocurrency market, with the majority of the coins being in the green zone. XRP and DOGE are the only exceptions. 

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, the bulls were preparing for an assault on the psychological level of $40,000. However, the breakthrough turned out to be rather weak and the monthly peak was recorded in the area of ​​$40,920.

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

In the afternoon, the price of Bitcoin (BTC) rolled back, returning to its original levels in order to repeat the assault on the $40,000 level. The second attempt to gain a foothold above was even worse — before the end of the day, it managed to rise only to the area of ​​$40,690. At night, the trading volumes decreased and the pair rolled back to its previous position.

Related
BTC, ETH and ADA Price Analysis for July 28

This morning, one more attempt to test the 50 percent Fibonacci level is possible, but given how overheated the market is, it can be assumed that the pair may roll back to the support of $36,000 before the end of the day.

Bitcoin is trading at $39,739 at press time.

XRP/USD

Yesterday morning, buyers were able to form a strong bullish momentum and the XRP price broke through the resistance at $0.65, setting a new July high around the $0.754 mark.

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

In the second half of the day, the volume decreased and the pair rolled back below the level of $0.70. Tonight, on decreasing volumes, buyers tried to return to the zone of the monthly peak, but the bears repulsed this bull's advance. Now, the price of XRP is back at $0.70 per coin. If the pressure from the bears increases, the pair can roll back to the area of ​​the two-hour EMA55.

XRP is trading at $0.70537 at press time.

BNB/USD

The price of Binance Coin (BNB) has remained almost unchanged since yesterday. 

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

At the moment, the native exchange coin is trading in the zone where most of liquidity is focused. It means that traders are still accumulating power for a sharp price blast. If they can gain footing above $320, there is a chance of coming back to the resistance zone around $350 in the first days of September.

BNB is trading at $313 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 denys.serhiichuk@u.today.