Technical analysis of crypto majors – July 12th
Currently the total market cap of crypto is 318.8 billion USD with a 24h Volume of 82.5 billion and BTC Dominance of 65.1% according to coinmarketcap.com.
Bitcoin has a market cap of 207.4 billion USD and trades around 11670 USD on Coinbase. Continuation to the downside was seen for most of past 24 hours with price briefly testing 11k support level and bouncing to current 11.6k USD. This support level also is in confluence with 61.8% Fib retracement from previous move of 02-10 of July. It is highly likely we will see reversal happening and continuation of the overall bull market resuming in upcoming days. Potential resistance zone can be seen around 12-12.5k USD and a clear break is needed before we can start making higher highs again.
BTC/USD 4H:
Ethereum currently has a market cap of 29.4 billion and trades at 272.8 USD on Coinbase. Price has broken important support of 280 USD and currently retests this level from the downside as a resistance. Until this level is broken to the upside and new highs are formed it is likely we will see continuation of downside momentum in upcoming days. Another possibility is a possible retrace to around 290 USD and retest of several week support trend line which may now act as a resistance.
ETH/USD 4H:
Looking at ETH/BTC a consolidation around 0.0235 BTC can be seen, however we will likely see continuation of downside momentum with support level to be broken being 0.023 BTC. Alternatively price could rally back to retest support turned resistance level of 0.025 BTC.
ETH/BTC 4H:
Ripple currently has a market cap of 14.7 billion and is trading at 0.343 USD on Binance after it reached a local low of 0.31-0.32 USD. Price is seeking to find next resistance level with a major one being previous support level of multiple day range at 0.37 USD. After that is reached we will likely see continuation to the downside.
XRP/USD 4H:
Litecoin has a market cap of 6.6 billion USD and currently trades around 106 USD on Binance after another retest of 100 USD support yesterday where also 61.8% Fib retracement can be seen from previous upswing. Additionally price is supported by multiple week trend line and we will likely see continuation to the upside in upcoming days.
LTC/USD Daily:
EOS has a market cap of 4.45 billion USD and trades around 4.8 USD on Binance after a retest of 4.5 USD support level yesterday. It is highly likely we will see retracement back to previous support zone now acting as resistance of 5.7-6 USD in upcoming days before another attempt at 4.5 USD level is made.
EOS/USD Daily:
Binance coin has a market cap of 4.4 billion USD and trades around 31.7 USD on Binance after rejection of 30 USD support level earlier today. If current bullish candle can remain above 31.5 USD we will likely see new higher highs being made in upcoming days with a resistance target of 35 USD.
BNB/USD Daily: