Technical analysis of crypto majors – July 11th
Currently the total market cap of crypto is 313 billion USD with a 24h Volume of 105 billion and BTC Dominance of 65.4% according to coinmarketcap.com.
Bitcoin has a market cap of 204.6 billion USD and trades around 11450 USD on Coinbase with price having a dramatic 15% correction in the last 24 hours falling from 13.2k USD to a current low of 11.2k and currently trading between important support and resistance levels of 10.8 and 12k USD respectively. Additionally price has reached 50% retracement from swing of 2nd July-10th July which might hold the price as a support for now. Most likely target currently for price is 12k resistance, if it breaks it is highly likely we will see bull trend resume and new yearly high reached this month.
BTC/USD 4H:
Ethereum currently has a market cap of 28.9 billion and trades at 272.8 USD on Coinbase and same as basically all cryptocurrencies has experienced a dramatic fall of 17% in past 24 hours. Important support zone of 275-280 USD has been broken for a brief moment setting a new lower low and currently price is looking to retrace some of the move to the upside. Upper boundary of previously mentioned support zone could now act as resistance around 280 USD and we will likely see it tested in upcoming hours.
ETH/USD 4H:
Looking at ETH/BTC we can see continuation to the downside after break of 0.025 BTC support and a brief retest of 0.0245 BTC level. Most likely scenario is continuation to the downside as Bitcoin continues increasing its dominance over total market cap.
ETH/BTC 4H:
Ripple currently has a market cap of 14.1 billion and is trading at 0.33 USD on Binance with price having broken previously mentioned support and resistance range of 0.37-0.41 USD. Most likely we will see retracement to the upside and retest of 0.37 USD support turned resistance before further drop in price.
XRP/USD 4H:
Litecoin has a market cap of 6.33 billion USD and currently trades around 118.3 USD on Binance with price reaching multiple week trend line and currently trading around 61.8% retracement from previous upswing and above 100 USD support level indicating we will see price being held in place for now and potentially reversing back to overall bull trend in upcoming days.
LTC/USD Daily:
EOS has a market cap of 4.2 billion USD and trades around 4.7 USD on Binance after breaking support zone of 5.7-6 USD and dropping to next support of 4.5 USD. Additionally price has broken several week trend line indicating we will likely see at least a consolidation if not further bearish momentum in upcoming days. Short term price is likely to retrace some of the downside impulse and possibly retest 5.7 USD support turned resistance.
EOS/USD Daily:
Binance coin has a market cap of 4.22 billion USD and trades around 29.8 USD on Binance and has reached an important support zone of 29-30 USD. Likely we will see price retracing some of the downside from past 24 hours before an attempt to break this support.
BNB/USD Daily: