Bitcoin and Altcoin Price Analysis

Strong inflows into spot Bitcoin ETFs suggest that the sentiment has turned positive, and traders are buying aggressively.

• Bitcoin (BTC) has been conquering overhead resistance levels one by one, signaling that the bulls are gaining confidence.
• Ether (ETH) rallied to the 50-day SMA ($3,454) on July 15, indicating that the sideways movement between $2,850 and $4,094 remains intact.
• BNB (BNB) is being protected by the bears at the 50-day SMA ($586) but struggling to pull the price below the 20-day SMA ($544).
• Solana (SOL) is trading inside a descending triangle pattern, awaiting a breakout to the upside or downside.
• XRP (XRP) has made a strong comeback, with bulls pushing the price above key resistance levels.
• Dogecoin (DOGE) surged back above the breakdown level of $0.12, signaling a rejection of lower price levels.
• Toncoin (TON) rose above the 20-day SMA ($7.43) but faced resistance at $7.72.
• Cardano (ADA) is maintaining above the moving averages, indicating muted selling pressure.
• Avalanche (AVAX) has reached a critical resistance level at $29, where bears are expected to defend.
• Shiba Inu (SHIB) approached the breakdown level of $0.000020, facing resistance from bears.

Conclusion

Bitcoin’s recent rise improves sentiment in the market, with strong inflows into spot Bitcoin ETFs. Altcoins are also showing signs of strength, with various cryptocurrencies approaching key resistance levels. Market participants should conduct thorough research before making any investment decisions.