• Market Cap: $3,366,371,292,789.28
  • 24h Vol: $78,384,554,160.36
  • BTC Dominance: 61.71%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Price analysis 7/8: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

Jon Hartney by Jon Hartney
July 8, 2022
in Bitcoin, Blockchain, Business, Market
0
Price analysis 7/8: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT,  SHIB, AVAX
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Bitcoin and select major altcoins have risen from their recent lows, signaling an increase in volatility in the near term.

Bitcoin (BTC) rallied to the 200-week moving average on July 8, a level that could act as a battleground between the bulls and the bears. Several analysts are watching this level because a break and close above it could be the first sign that the bear market may be ending.

Bloomberg senior commodity strategist Mike McGlone said that Bitcoin’s 50-week and 100-week moving averages are showing similar signs as made before the 2018 bear market bottom. Therefore, McGlone expects Bitcoin to give a strong rebound in the second half of 2022.

Related articles

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

June 14, 2025
Bitcoin must upgrade or fall victim to quantum computing in 5 years

Bitcoin must upgrade or fall victim to quantum computing in 5 years

June 14, 2025
Daily cryptocurrency market performance. Source: Coin360

Another positive sign is that Bitcoin rose above $22,000 on July 8 even as the United States dollar index (DXY) continued its northward march. This suggests that the strong inverse correlation between Bitcoin and the DXY may be starting to weaken.

Could Bitcoin extend its recovery pulling the crypto markets higher? Let’s study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin broke above the resistance line of the symmetrical triangle and the 20-day exponential moving average (EMA) ($21,233) on July 7, indicating that bulls are making a comeback.

BTC/USDT daily chart. Source: TradingView

The flattening 20-day EMA and the relative strength index (RSI) just below the midpoint suggest that the selling pressure may be reducing.

If the price rebounds off the current level or the breakout level from the triangle, it will suggest that the sentiment has turned positive and traders are buying the dips. That could increase the possibility of a rally to the 50-day simple moving average (SMA) ($25,015) and then to the pattern target at $26,490.

This positive view could invalidate in the short term if the price breaks back below the 20-day EMA and re-enters the triangle. That will indicate aggressive selling by the bears at higher levels. The pair could then drop to the support line of the triangle.

ETH/USDT

Ether (ETH) broke above the 20-day EMA ($1,198) on July 7 and reached the overhead resistance at $1,280 on July 8. The bears are defending this resistance aggressively and are attempting to sink the price back below the 20-day EMA.

ETH/USDT daily chart. Source: TradingView

If they do that, the ETH/USDT pair could drop to the support line of the ascending triangle. This is an important level to keep an eye on because a break and close below it could invalidate the bullish setup. That could pull the price down toward the critical support at $881.

Conversely, if the price rebounds off the 20-day EMA and breaks above $1,280, it will complete the bullish ascending triangle pattern. The pair could then rise to the 50-day SMA ($1,470) and later rally to the pattern target at $1,679.

BNB/USDT

BNB broke and closed above the 20-day EMA ($233) on July 6 but the bulls are struggling to push the price to the 50-day SMA ($262). This suggests that bears are active at higher levels.

BNB/USDT daily chart. Source: TradingView

The sellers are trying to pull the price back below the 20-day EMA. If they can pull it off, the BNB/USDT pair could slide to the strong support at $211.

On the other hand, if the price rebounds off the 20-day EMA, it will suggest that the sentiment is turning positive and the bulls are buying on dips. The bulls will then attempt to drive the price above the 50-day SMA and gain control. That could clear the path for a possible rally to $300.

XRP/USDT

Ripple (XRP) attempted a break above the resistance line of the symmetrical triangle but the bears had other plans. They aggressively defended the level and are trying to sink the price back below the 20-day EMA ($0.33).

XRP/USDT daily chart. Source: TradingView

If they succeed, the XRP/USDT pair could extend its stay inside the triangle for some more time. The flattish 20-day EMA and the RSI near the midpoint do not give a clear advantage either to buyers or sellers.

A break and close above the triangle could indicate the start of a new up-move. The pair could then rally to the pattern target at $0.48. Alternatively, a break below the triangle could open the doors for a retest at $0.28.

ADA/USDT

Cardano (ADA) rose above the 20-day EMA ($0.47) on July 8 but the bulls could not sustain the higher levels. This indicates that the bears are aggressively defending the moving averages.

ADA/USDT daily chart. Source: TradingView

The sellers will attempt to build upon their advantage by pulling the price below the strong support at $0.44. If they manage to do that, the ADA/USDT pair could drop to the important level at $0.40. A break and close below this support could indicate the start of the next leg of the downtrend.

To invalidate this bearish view, buyers will have to push and sustain the price above the 50-day SMA ($0.51). If they manage to do that, the pair could rally to $0.60 and then to $0.70.

SOL/USDT

The buyers attempted to push Solana (SOL) above the 50-day SMA ($38.79) on July 5 and 6 but could not overcome the barrier. This suggests that the bears are selling on rallies.

SOL/USDT daily chart. Source: TradingView

The price is getting squeezed inside a symmetrical triangle. This points to a possible range expansion in the short term. If the price turns down and breaks below the triangle, the SOL/USDT pair could slide toward the critical support at $26.

Conversely, if the price turns up and breaks above the resistance line of the triangle, it will suggest that bulls have the upper hand. The pair could then rally to the psychological level of $50 where the bears may again mount a strong defense.

DOGE/USDT

Dogecoin (DOGE) attempted a break above the 50-day SMA ($0.07) on July 8 but the bears did not relent. The sellers are trying to use the opportunity to sink the price back below the 20-day EMA ($0.07).

DOGE/USDT daily chart. Source: TradingView

The RSI is near the midpoint and the 20-day EMA has flattened out, suggesting a balance between buyers and sellers. This equilibrium could tilt in favor of the bulls if they push and sustain the price above the 50-day SMA. Such a move could clear the path for a rally to $0.08 and next to $0.09.

Conversely, if the price turns down and breaks below $0.06, the bears will strive to pull the DOT/USDT pair to the vital support at $0.05.

Related: DOGE days of summer: Shiba Inu gains 40% on Dogecoin two months after record lows

DOT/USDT

Polkadot (DOT) attempted to break above the overhead resistance at the 20-day EMA ($7.38) on July 7 but the bears held their ground. This indicates that bears are active at higher levels.

DOT/USDT daily chart. Source: TradingView

The bears will attempt to pull the price toward the critical support at $6.36. This is an important support for the bulls to watch out for because a break and close below it could indicate the resumption of the downtrend. The DOT/USDT pair could then decline to the psychological level of $5.

This negative view could invalidate if the price turns up and rises above the 20-day EMA. If that happens, the pair could attempt a rally to the 50-day SMA ($8.38). This level may again act as a resistance but if bulls clear this hurdle, it may signal a potential change in trend.

SHIB/USDT

The tight range trading in Shiba Inu (SHIB) resolved to the upside on July 7 as the price broke above the immediate resistance at $0.000011. The bears tried to sink the price back below $0.000011 on July 8 but the long tail on the candlestick indicates strong buying on dips.

SHIB/USDT daily chart. Source: TradingView

The buyers will attempt to push the price above the stiff resistance at $0.000012. If they succeed, it will indicate demand at higher levels. The SHIB/USDT pair could then rally to $0.000014 where the bears may again pose a strong challenge.

Conversely, if the price turns down from the current level and sustains below $0.000011, it will suggest that the breakout on July 7 may have been a bull trap. The bears will then try to pull the price back below the critical support at $0.000010. If that happens, the next stop could be $0.000009.

AVAX/USDT

Avalanche (AVAX) has been trading between $13.71 and $21.35 for the past few days, indicating a bottoming formation. The 20-day EMA ($18.78) has flattened out and the RSI is just above the midpoint, indicating a balance between the bulls and the bears.

AVAX/USDT daily chart. Source: TradingView

If buyers drive the price above the overhead resistance at $21.35, it will signal the start of a new up-move. The AVAX/USDT pair could rally to the pattern target of $29 where the bears may again mount a strong resistance. If the price turns down from this level but does not drop below $21.35, it will suggest that a bottom may have been made at $13.71.

Contrary to this assumption, if the price turns down from the current level and breaks below the 20-day EMA, it will indicate that the range-bound action may continue for a few more days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

by Jon Hartney
June 14, 2025
0

Over the past few weeks, the Bitcoin price has maintained a somewhat healthy momentum, forging minor swing highs and lows...

Bitcoin must upgrade or fall victim to quantum computing in 5 years

Bitcoin must upgrade or fall victim to quantum computing in 5 years

by Jon Hartney
June 14, 2025
0

Unless Bitcoin upgrades its core cryptography in the next five years, the

Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards

Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards

by Jon Hartney
June 14, 2025
0

Donald Trump has disclosed an income of $573M from World Liberty Financial tokens The president filed his public financial disclosure...

Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout?

Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout?

by Jon Hartney
June 14, 2025
0

Cardano (ADA) is currently consolidating near a critical support zone that could shape the direction of its price action in...

Is Bitcoin price going to crash again?

Is Bitcoin price going to crash again?

by Jon Hartney
June 14, 2025
0

Bitcoin's bearish divergence signals a possible price crash toward $85,000,

Load More
  • Trending
  • Comments
  • Latest
SUI Price Hits All-Time High – But Questions About Valuation Remain

SUI Price Hits All-Time High – But Questions About Valuation Remain

October 17, 2024
Solana Targets $160 Resistance As TVL Hits New Yearly Highs

Solana Targets $160 Resistance As TVL Hits New Yearly Highs

October 17, 2024
Bitcoin Price Holds Firm: Can It Power Toward New Gains?

Bitcoin Price Holds Firm: Can It Power Toward New Gains?

October 17, 2024
Dogecoin Holder Base Falls To 6-Month Low, But Analyst Believes DOGE Price Is Headed To $10

Dogecoin Holder Base Falls To 6-Month Low, But Analyst Believes DOGE Price Is Headed To $10

October 17, 2024
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

June 14, 2025
Bitcoin must upgrade or fall victim to quantum computing in 5 years

Bitcoin must upgrade or fall victim to quantum computing in 5 years

June 14, 2025
Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards

Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards

June 14, 2025
Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout?

Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout?

June 14, 2025

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst June 14, 2025
  • Bitcoin must upgrade or fall victim to quantum computing in 5 years June 14, 2025
  • Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards June 14, 2025
  • Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout? June 14, 2025
  • Is Bitcoin price going to crash again? June 14, 2025

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • Steakhouse EURCV Morpho VaultSteakhouse EURCV Morpho Vault(STEAKEURCV)$0.000000-100.00%
  • FibSwap DEXFibSwap DEX(FIBO)$0.0084659.90%
  • TruFin Staked APTTruFin Staked APT(TRUAPT)$8.020.00%
  • bitcoinBitcoin(BTC)$84,372.003.58%
  • ethereumEthereum(ETH)$1,885.365.68%
  • tetherTether(USDT)$1.000.00%
  • rippleXRP(XRP)$2.186.84%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • binancecoinBNB(BNB)$617.995.03%
  • Wrapped SOLWrapped SOL(SOL)$143.66-2.32%
  • solanaSolana(SOL)$128.974.23%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.1736117.78%
  • cardanoCardano(ADA)$0.687.61%
  • tronTRON(TRX)$0.2342340.79%
  • staked-etherLido Staked Ether(STETH)$1,884.065.48%
  • Gaj FinanceGaj Finance(GAJ)$0.0059271.46%
  • Content BitcoinContent Bitcoin(CTB)$24.482.55%
  • USD OneUSD One(USD1)$1.000.11%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$84,309.003.84%
  • ToncoinToncoin(TON)$4.157.66%
  • UGOLD Inc.UGOLD Inc.(UGOLD)$3,042.460.08%
  • ParkcoinParkcoin(KPK)$1.101.76%
  • chainlinkChainlink(LINK)$14.027.76%
  • leo-tokenLEO Token(LEO)$9.211.17%
  • stellarStellar(XLM)$0.2743585.70%
  • avalanche-2Avalanche(AVAX)$19.647.71%
  • Wrapped stETHWrapped stETH(WSTETH)$2,256.395.40%
  • USDSUSDS(USDS)$1.00-0.01%
  • SuiSui(SUI)$2.429.03%
  • shiba-inuShiba Inu(SHIB)$0.0000137.71%
  • hedera-hashgraphHedera(HBAR)$0.17284810.00%
  • Yay StakeStone EtherYay StakeStone Ether(YAYSTONE)$2,671.07-2.84%
  • polkadotPolkadot(DOT)$4.257.34%
  • litecoinLitecoin(LTC)$85.265.04%
  • bitcoin-cashBitcoin Cash(BCH)$314.248.23%
  • mantra-daoMANTRA(OM)$6.301.94%
  • Pundi AIFXPundi AIFX(PUNDIAI)$16.000.00%
  • PengPeng(PENG)$0.60-13.59%
  • Bitget TokenBitget Token(BGB)$4.664.95%
  • wethWETH(WETH)$1,884.285.66%
  • Ethena USDeEthena USDe(USDE)$1.00-0.04%
  • Binance Bridged USDT (BNB Smart Chain)Binance Bridged USDT (BNB Smart Chain)(BSC-USD)$1.00-0.18%
  • MurasakiMurasaki(MURA)$4.23-13.71%
  • Black PhoenixBlack Phoenix(BPX)$3.351,000.00%
  • Pi NetworkPi Network(PI)$0.714.53%
  • HyperliquidHyperliquid(HYPE)$13.729.80%
  • Wrapped eETHWrapped eETH(WEETH)$2,003.675.53%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$28.350.76%
  • moneroMonero(XMR)$217.841.31%
  • Zypto TokenZypto Token(ZYPTO)$0.037139-3.47%
  • uniswapUniswap(UNI)$6.217.66%
  • AptosAptos(APT)$5.395.79%
  • PepePepe(PEPE)$0.00000811.37%
  • daiDai(DAI)$1.00-0.01%
  • nearNEAR Protocol(NEAR)$2.635.26%
  • XT.comXT.com(XT)$3.08-1.65%
  • Layer One XLayer One X(L1X)$23.35454.66%
  • sUSDSsUSDS(SUSDS)$1.050.05%
  • okbOKB(OKB)$48.762.12%
  • gatechain-tokenGate(GT)$22.883.58%
  • crypto-com-chainCronos(CRO)$0.1015853.46%
  • Coinbase Wrapped BTCCoinbase Wrapped BTC(CBBTC)$84,342.003.68%
  • MantleMantle(MNT)$0.814.44%
  • Tokenize XchangeTokenize Xchange(TKX)$33.460.86%
  • internet-computerInternet Computer(ICP)$5.517.85%
  • ethereum-classicEthereum Classic(ETC)$17.074.81%
  • OndoOndo(ONDO)$0.817.47%
  • First Digital USDFirst Digital USD(FDUSD)$1.00-0.12%
  • aaveAave(AAVE)$168.6110.19%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • Ethena Staked USDeEthena Staked USDe(SUSDE)$1.170.30%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • Official TrumpOfficial Trump(TRUMP)$10.354.36%
  • vechainVeChain(VET)$0.0233636.04%
  • cosmosCosmos Hub(ATOM)$4.538.09%
  • fantomFantom(FTM)$0.70-1.56%
  • BittensorBittensor(TAO)$231.277.72%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • EthenaEthena(ENA)$0.3616194.37%
  • render-tokenRender(RENDER)$3.6710.91%
  • filecoinFilecoin(FIL)$2.927.72%
  • CelestiaCelestia(TIA)$3.181.75%
  • Black AgnusBlack Agnus(FTW)$0.000183423.46%
  • Lombard Staked BTCLombard Staked BTC(LBTC)$84,465.004.02%
  • POL (ex-MATIC)POL (ex-MATIC)(POL)$0.2063993.13%
  • KaspaKaspa(KAS)$0.0682239.38%
  • STAUSTAU(STAU)$0.17397910.95%
  • FasttokenFasttoken(FTN)$4.020.01%
  • Sonic (prev. FTM)Sonic (prev. FTM)(S)$0.5212.98%
  • algorandAlgorand(ALGO)$0.1896979.65%
  • ORA CoinORA Coin(ORA)$4.885.92%
  • ArbitrumArbitrum(ARB)$0.3397526.22%
  • Arbitrum Bridged USDT (Arbitrum)Arbitrum Bridged USDT (Arbitrum)(USDT)$1.000.07%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • kucoin-sharesKuCoin(KCS)$11.231.19%
  • Solv Protocol SolvBTCSolv Protocol SolvBTC(SOLVBTC)$84,076.003.32%
  • fetch-aiArtificial Superintelligence Alliance(FET)$0.4856098.68%
  • optimismOptimism(OP)$0.776.43%
  • StoryStory(IP)$4.75-2.68%