Bitcoin is still struggling to stay above $31,000.

While a tight consolidation near the overhead resistance is a positive sign, the failure to rise above it may result in short-term liquidations. However, a shallow pullback should not be considered a trend change because, many times, the bulls take a step back to regroup and launch another attack at the resistance. If the barrier is overcome, the positive momentum picks up.

Binance CEO Changpeng “CZ” Zhao said in an “ask me anything” session on Twitter that Bitcoin (

Litecoin price analysis

The bulls tried to push Litecoin (LTC) above the overhead resistance of $106 on July 5 and 6, but the long wick on the candlesticks shows that the bears fiercely defended the level.

The LTC/USDT pair plunged to the 20-day EMA ($94), which is an important support level to watch out for. If the price bounces off the current level, the bulls will make one more attempt to clear the overhead hurdle at $106.

However, the bears are likely to have other plans. They will try to sell the rallies and sink the pair below the 20-day EMA. If they do that, the selling may intensify and the pair may further slide to the 50-day SMA ($89).

Polygon price analysis

Polygon (MATIC) slipped and closed below the 20-day EMA ($0.67) on July 6, suggesting that the bears are active at higher levels.

The bears will try to trap the aggressive bulls by pulling the price below the uptrend line. If they manage to do that, the ascending triangle pattern will invalidate. That could trigger the stops of several short-term bulls. The MATIC/USDT pair may then slide to $0.60 and subsequently to $0.55.

Contrary to this assumption, if the price rebounds off the uptrend line, the bulls will again try to resume the up move. A break and close above the 50-day SMA ($0.74) could start the journey toward the pattern target of $0.88.

Polkadot price analysis

The long wick on Polkadot’s (DOT) July 6 candlestick shows that the bears are selling on intraday rallies. The price plunged below the moving averages, but the bulls are trying to arrest the decline.

Both moving averages have flattened out, and the RSI is near the midpoint. This indicates a balance between supply and demand. The DOT/USDT pair may oscillate between $4.74 and $5.64 for a few days.

The first sign of strength will be a break and close above $5.15. That will indicate solid demand at lower levels. The bulls will then again try to push the pair to $5.64. On the downside, a break below $4.74 could tilt the advantage in favor of the bears.