Happen[In]crypto Analysis of price movements for seven different cryptocurrencies including Ethereum (ETH), which has reclaimed the $1,020 horizontal support area.
B T c
Bitcoin (BTC) has been falling below a descending resistance line since the beginning of April. The line declined on June 5 (red mark), leading to a downward trend on June 18.
Since then the price has been rising and has formed three bullish engulfing candlesticks (green icon). If there is an upside move, the above resistance line will lie at $22,000.
ETH
ETH has been trending upward since June 18. This completed a five-wave upward movement (red) and a subsequent correction (highlight).
On July 1, the price made a higher low above the $1,020 horizontal support area (green icon). The price is trending towards the $1,250 resistance area, above which a breakout could accelerate the rate of increase.
XRP
XRP has been declining since being rejected by the $0.378 resistance area on June 24 (red icon). The area was earlier acting as support and has now turned into resistance. Additionally, it coincides with a descending resistance line.
The downward movement so far has given rise to a low of $0.30 on June 30. It has validated an ascending support line since 18 June. Whether the price breaks above the resistance line or falls below the ascending support line will likely be determined. future direction of movement.
Alpha
Similar to ARP, Alpha Venture Dao (alpha) was rejected by the $0.137 resistance area on June 26 (red icon). However, unlike XRP, there was a bullish divergence in the RSI (Green Line) before the uptrend.
The price made a higher low on July 1 and is now making another move towards $0.137. If successful, it is expected to significantly accelerate the rate of growth.
GMT
On June 20, STEPN (GMT) broke through the descending resistance line since May 13. Later, it proceeded to retest the $0.82 horizontal area, validating it as support.
If the upward move continues, the nearest resistance area will be at $1.30.
enzo
Enjin (ENJ) has been declining below a descending resistance line since May 15. Recently, the line declined on 27 June and 5 July (red mark).
If ENJ manages to break out of this line, the next nearest resistance will be at $0.75.
sushi
Between June 15 and July 12, the sushi swap (sushi) formed a double bottom pattern. The double bottom is considered a bullish pattern, which means that it moves upward most of the time. Additionally, the pattern was aligned with a bullish divergence in the RSI.
Later, Sushi broke the descending resistance line and it could potentially move towards the nearest resistance at $1.40 – $1.50. This resistance is formed by the 0.5-0.618 Fibonacci Retracement resistance levels.
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