Price analysis 7/19: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT
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After failing to sustain above the resistance of its narrow range, Bitcoin fell near a key support level on July 18. The consolidation of the past few days
Polygon price analysis
Polygon (MATIC) bounced off the 20-day EMA ($0.73) on July 17, but the bulls could not sustain the higher levels. This suggests that every relief rally is being sold into.
The moving averages are an important support to keep an eye on. If bears sink the price below the 50-day SMA ($0.71), the advantage will tilt in favor of the sellers. The MATIC/USDT pair may then slump to $0.60.
The first resistance to watch on the upside is $0.80. If bulls drive the price above this level, the pair could retest the $0.89 level. A break and close above this resistance could signal the start of a new uptrend.
Litecoin price analysis
Litecoin (LTC) turned down from the overhead resistance at $106 on July 13, indicating that the bears are selling on rallies.
The failure of the bulls to arrest the pullback at the 20-day EMA ($94) suggests that the positive momentum has weakened. There is minor support at the 50-day SMA ($90), but if this level gives way, the LTC/USDT pair could dump to $80.
If bulls want to prevent the decline, they will have to push and maintain the price above the 20-day EMA. If they do that, the pair may again retest the overhead resistance zone between $106 and $115.
Polkadot price analysis
Polkadot (DOT) has been swinging between the overhead resistance of $5.64 and the 50-day SMA ($5.03) for the past few days.
The flattish 20-day EMA ($5.21) and the RSI near the midpoint suggest a balance between supply and demand. If the price sinks below the 50-day SMA, the advantage will tilt in favor of the sellers. The DOT/USDT pair could then slide to $4.74. This is an important level for the bulls to defend because if it cracks, the pair may slump to $4.22.
On the upside, the bulls will have to clear the zone between $5.64 and the downtrend line to gain the upper hand. The pair could then skyrocket to $7.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
