Bitcoin price captured the upper line of a falling wedge pattern this week, signaling that the flagship cryptocurrency may be on to bullish outcomes. Ethereum price confronts the 2020 ascending trendline, reinforcing the 200-day SMA. XRP price has credible support at $0.51 to counter any renewal in selling pressure.
Bitcoin price revival appears to be going well considering the recent sweep of the July 15 swing high. While this uptick in the market value of BTC is bullish, there is bound to be a minor pullback that will help catapult the pioneer cryptocurrency higher.
Litecoin price recorded nine consecutive down days and an oversold reading on the daily Relative Strength Index (RSI) before the 9.8% gain on July 21. The rebound from the 78.6% retracement level of the 2020-2021 advance marked the second time the cryptocurrency bounced at that level over the past month, confirming it as legitimate support moving forward. More importantly, LTC is constructing a new, timely entry price to accommodate those investors arriving late.