Price Analysis 7/19: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Bitcoin turned up sharply and broke above the overhead resistance, indicating the resumption of the upmove toward $70,000.

Articles Summary:

• Bitcoin shows signs of recovery after mild pullback
• Onchain analytics and market sentiment indicate positive outlook
• Will Bitcoin rally to $70,000 and push altcoins higher?

Bitcoin turned up on July 19 after a mild pullback for the past two days. Farside Investors data shows that United States-based spot Bitcoin exchange-traded funds (ETFs) continued to witness inflows on July 17 and 18, signaling that market participants had turned cautious but not bearish.

Onchain analytics firm Santiment said the number of Bitcoin wallet addresses holding a non-zero balance had plummeted by 672,510 over the past month. According to the firm, such mass liquidations are generally followed by a rebound.

Bitcoin Price Analysis

Bitcoin’s sharp recovery stalled at $66,128 on July 17, but the bears could not sink the price below the 50-day simple moving average ($63,806). This suggests that the bulls are buying on every minor dip.

Ether Price Analysis

Ether has risen above the 50-day SMA ($3,441) on July 19, indicating that the bulls are trying to extend the recovery.

BNB Price Analysis

BNB soared above the 50-day SMA (586) on July 19, indicating that the bulls remain in control.

Solana Price Analysis

The bulls have pushed Solana above the downtrend line of the descending triangle pattern, indicating solid demand at higher levels.

XRP Price Analysis

XRP turned down sharply from $0.64 on July 18, indicating that the bears are fiercely defending the level.

Dogecoin Price Analysis

The bears could not push Dogecoin above the 50-day SMA ($0.13), but a positive sign is that the bulls successfully defended the 20-day SMA ($0.11).

Toncoin Price Analysis

Toncoin has been consolidating in an uptrend. The price has been stuck between $6.77 and $8.29 for several days.

Cardano Price Analysis

Cardano bounced off the moving averages on July 19, indicating solid demand at lower levels.

Avalanche Price Analysis

Avalanche has been stuck between the moving averages for the past few days, indicating a tussle between the bulls and the bears.

Shiba Inu Price Analysis

Shiba Inu turned down from the breakdown level of $0.000020 on July 17 and reached the 20-day SMA ($0.000017) on July 18.

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.