2022-07-24 19:31:30
Market Analysis By lord's 24 July 2022
Please Note: This analysis is done on daily timeframe
Bitcoin Ranges
Resistance: 25,500$ - 28500$ - 30,000$
Support: 21,800$ - 19,500$
Ethereum: Nice Flag pattern on chart, Bullish consolidation pattern
Resistance: 1700$ - 1900$ - 2000$
Support: 1250$ - 990$
Cardano: Beautiful move to the upside today on chart, Holding its white trendline support 0.46$ Potential upside target 0.65$ if it breaks 0.55$ resistance level, Chart looking really good. A strong day on cardano.
Resistance: 0.55$ - 0.65$
Support: 0.46$ - 0.40$
Dot: Going sideways, It looks weaker as compare to other coins at this moment as other coins broke their previous resistance ranges
Resistance: 7.83$ - 8.50$
Support: 6.36$
Chainlink: Upticking today but still stuck in sideways level as compared to other coins like eth, btc
Resistance: 7.48$ - 9.288$
Support: 5.92$
BNB Coin: Binance coin also going sideways consolidation levels range after breaking out from its previous resistance around 243$ Probability chances of going to upside around 287/288$
Resistance: 288$ -328$
Support: 243$ - 196$
XRP: a little bullish consolidation under the resistance level, If we break resistance we can see a good momentum level in XRP
Resistance: 0.38$
Support: 0.331$
Doge Coin: Doge coin doesn't look good on charts as earlier it tried to break it first resistance but never confirmed above it and closed back below the resistance level.
Resistance: 0.699$ - 0.77$
Shib: Shiba Inu almost making a inverse head and shoulders pattern, earlier it tried to break it first resistance but never confirmed above it and closed back below the resistance level like doge coin. However current scenario could indicate a bullish consolidation
Resistance: 0.00001320$ - 0.00001213
Solana: Solana broke out it previous resistance and confirm above it, Now it's consolidating
Support: 37$
Resistance: 60$ - 80$
Polygon Matic: Matic continues to look good although it had a pullback, If it continues to come down so the major support will be 0.746$. If it continues to go up 1.32$ would be the resistance level which has decent chances
Support: 0.746$
Resistance: 1.32$
Avax: Avax broke out previous lower range, closed confirmed above it. Bullish Consolidation,
If anyone looking to buy for long term a good buying position will be around 22$.
Support will be around 22$ Resistance will be around 28$
Tron: Tron is finding support on upslopping trendline if it breaks, Tron could go down below around 0.555$
Uniswap: Uniswap had an inverse head and shoulder earlier before moving to the upside. Bullish consolidation currently.
Resistance: 8.188$
Support: 6$
Litecoin: Litecoin closely follows bitcoin, Bullish consolidation currently. Litecoin is holding a support on upslopping trendline which is around 50$. Resistance level is around 60$ Potential upside resistance 74$
Analysis: Another Consolidation day today for Crypto. We went from 19,000 to 24,000 in 7 to 8 days so that was a monster move if you see it in percentage move therefore it needs to digest specially in a bear market, 21800 is the major technical support. Today we almost touched the major support before moving to the upside again. The more sideways with lower candles you get is the more chances to move to the upside. 70/75% probability of bitcoin going to upside 25,500$ but remember probabilities does not guarantee anything. If we close 1 or 2 more daily candles above 21,800$ major technical support the probabilities increase further. Any confirmation below 21,800$ will be bearish indication. Any confirmation below 19,500$ will very bearish indication. If we confirm below 19,500$ we could go around 12,000 to 13,000$ in Bitcoin Price in a month or two, we might be able to go below 12000-13000
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