Bitcoin (BTC) is making another attempt to break out of the $ 40,550 resistance area.
Ethereum (ETH) and XRP (XRP) broke the descending resistance lines after creating double lows.
Zcash (ZEC) broke a descending resistance line but was unable to initiate a significant upward move.
DFI.Money (YFII) is attempting to break out of the $ 2,660 resistance area.
Dego Finance (DEGO) has claimed the $ 8 resistance area.
ta Token (THETA) is trying to break out of a descending resistance line.
BTC
BTC has been on the rise since July 20. It reached the $ 40,550 resistance area on July 26 and was rejected, creating a long upper wick.
However, it is currently making another attempt to break out of the $ 40,550 resistance.
Technical indicators are bullish. Stochastic Oscillator has made a bullish crossover and the RSI is above 50. Also, the MACD is rising, although it is not positive yet.
refore, a malfunction is likely to occur.
TradingView BTC chart
ETH
ETH created a double bottom pattern on June 26 and July 20. pattern was created within the horizontal support area of $ 1,760. Furthermore, it was combined with bullish divergences in the MACD, RSI and Stochastic oscillator.
Since then, the RSI has moved above 50 and the Stochastic Oscillator has made a bullish crossover.
Following this, ETH broke a descending resistance line and validated it as support.
closest resistance area is at $ 2,850.
Read also South Korean regulator creates new police unit for cryptocurrency exchanges TradingView ETH chart
XRP
Similar to ETH, XRP created a double bottom on June 22 and July 20. Also, the pattern was mixed with numerous bullish divergences.
XRP has now managed to break out of a descending resistance line that had previously been in place since May 19.
closest resistance area is at $ 0.80. This target is the Fibonacci Retracement Resistance Level of 0.382.
TradingView XRP Chart
ZEC
ZEC has been following a descending resistance line since May 20. This led to a low of $ 83.02 on July 20. While the low was combined with a bullish divergence on the MACD, the RSI and the Stochastic Oscillator were still bearish.
Although ZEC has since broken out of the descending resistance line, it has yet to make any significant upward movement.
closest resistance area would like to hit $ 130.
TradingView ZEC Chart
YFII
YFII has moved higher since May 19 and created a higher low on June 22.
Subsequently, it broke out above the $ 2,100 resistance area and validated it as support between July 11-14 (green icons).
Currently, it is trying to break out of the $ 2,650 resistance area. Despite showing some weakness, technical indicators remain bullish.
refore, a possible breakout is likely to take YFII to $ 3,200.
TradingView YFII Chart
DEGO
DEGO has been following a descending resistance line since March 14. He made four unsuccessful escape attempts, the last on July 15.
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However, he managed to cross the line on July 23. Soon after, it claimed the $ 8 horizontal resistance area and validated it as support. It followed this up by creating a bullish engulfing candle on July 27 (green icon).
closest resistance area is at $ 19.
TradingView DEGO Chart
THETA
THETA has been stuck below a descending resistance line since April 16. It has been rejected four times from this line so far, the last time on July 26 (red icon).
However, THETA has been on the rise since July 20, prompting the aforementioned rejection. On top of that, the technical indicators are bullish and support the probability of a breakout.
If that happens, the closest resistance area would be at $ 9.70. This is the 0.5 Fib retracement resistance level.
TradingView THETA Chart
For the latest bitcoin (BTC) analysis from BeInCrypto, click here.
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