BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, TRX, ADA 12125

Price

BTC/USD

Bitcoin (BTC) has rebounded off the 20-day EMA and the bulls are currently attempting to scale above the $12,000–$12,500 resistance zone. A breakout of this zone can retest the recent highs of $13,973.50. We anticipate stiff resistance at this level but if the momentum can break through it, short sellers will be forced to throw in the towel, which can propel the price to $16,249.42. Above this, a retest of the lifetime highs will be in the cards.

Both moving averages are sloping up and the RSI is in positive territory. This suggests that the bulls still hold the advantage in the short term.

BTC/USD

However, if bears defend the overhead resistance zone, the BTC/USD pair might again dip back to 20-day EMA. A break of this support can drag the price to the 50-day SMA. We anticipate this support to hold and it can act as a good entry point for the traders.

We suggest traders wait for the price to rebound off the supports before buying, because if 50-day SMA fails to hold, traders will be forced to liquidate their long positions. Nonetheless, with the bear market having ended, traders should view dips as a buying opportunity.

ETH/USD

Ether (ETH) has bounced back above the 20-day EMA, which is a positive sign. We like the way bulls have managed to keep the price above the 50-day SMA during this pullback. It shows that buyers are not waiting for a deeper correction to enter long positions.

ETH/USD

The bulls might face resistance at $320.840 and above it at $366. However, if the price breaks out and closes (UTC time frame) above $320.840, we suggest traders buy 40% of the desired position size. A stop loss for the trade can be kept at $270. Remaining positions can be added on a breakout above $366.

We are recommending long positions on a breakout above $320.840 because the ETH/USD pair will complete a rounding bottom pattern that has a target objective of $557.43. There is stiff resistance close to $500, hence, we will keep it as our initial target. Our bullish view will be invalidated if the pair reverses direction from the overhead resistance and slumps below $270.

XRP/USD

Ripple (XRP) has held the first support of $0.37835. However, the subsequent bounce off the support could not break out of 20-day EMA on July 6. This shows selling at higher levels. The moving averages have completed a bearish crossover and the RSI is in the negative zone. This suggests that bears have the upper hand.

XRP/USD

Currently, bulls are again attempting to push the price above the moving averages. If successful, the XRP/USD pair can move up to $0.45. However, if the bulls fail to propel the price above the moving averages, bears will try to sink the pair below $0.37835. If this support gives way, the next support is $0.35660. As the cryptocurrency has not participated in the recent recovery, we will wait for it to pick up momentum before suggesting a trade in it.

LTC/USD

Litecoin (LTC) has been trading in a tight range for the past three days. The bulls are attempting to keep the price above the 50-day SMA. If this support breaks down, the pullback can extend to $111.8994. This is a critical support, below which, the fall can extend to the support line of the ascending channel.

LTC/USD

Both the moving averages are flattening out and the RSI is just below 50, which suggests a consolidation in the short term. We will wait for the price to bounce strongly either from $111.8994 or from the support line of the channel before recommending a trade.

Contrary to our assumption, if the bulls ascend the moving averages, a rally to $140.3450 is likely. The LTC/USD pair will pick up momentum on a breakout and close above $146.

BCH/USD

Though Bitcoin cash (BCH) has traded below the 20-day EMA for the past seven days, bears have not been able to take advantage of the weakness and sink the price to the support line of the channel. This shows a lack of sellers at lower levels.

BCH/USD

We now expect bulls to attempt to push the price above the moving averages. If successful, a move to $448 and above it to $515 is possible. Hence, short-term traders can buy on a close (UTC time frame) above $423 and keep the stop loss at $375, which is below the recent lows. A breakdown below $375 will invalidate our bullish view, as it can result in a drop to $280.

EOS/USD

Though bulls have held the support at $5.550, they have failed to propel EOS above 20-day EMA and into the channel. If the cryptocurrency re-enters the channel, it will be a bullish sign. We might suggest long positions if the price sustains inside the channel for a couple of days. The bulls might face resistance at the downtrend line, but once it is scaled, it can move to $7.6435 and above it to $8.60.

EOS/USD

Conversely, if the price reverses direction from the current levels or from the 20-day EMA and breaks below $5.550, it can correct to $4.4930. With the 20-day EMA sloping down and RSI in the negative zone, the path of least resistance is to the downside.

BNB/USD

After staying below the 20-day EMA for the past seven days, Binance Coin (BNB) is attempting to rise above it. If bulls can sustain the price above $34.50, it is likely to move up to $40 once again. A breakout and close (UTC time frame) above $40 will resume the uptrend.

BNB/USD

Conversely, if bulls fail to sustain the price above $34.50, bears will again try to sink it to $28.7168. The zone between the uptrend line and $28.7168 is likely to offer strong support. Hence, we might suggest long positions closer to the uptrend line because the long-term trend remains bullish. Our positive view will be negated if the BNB/USD pair breaks down and sustains below the uptrend line. If that happens, the slide can extend to $18.

BSV/USD

Bitcoin SV (BSV) has been struggling to move above 20-day EMA for the past five days, which is a negative sign. It shows a lack of demand at higher levels. The 20-day EMA is sloping down marginally and the RSI is just below 50, which suggests rangе-bound action in the short term.

BSV/USD

The support of the range is at $172.910 while resistance is at $226 and above it at $255.620. After such a sharp move, a consolidation is a positive sign. If the consolidation resolves to the upside, the BSV/USD pair will pick up momentum and resume its uptrend. On the other hand, if bears sink the price below $172.910, a fall to $134.360 is possible. We are currently neutral on the pair.

TRX/USD

We have been waiting to buy Tron (TRX) close to the trendline of the ascending channel as it reduces the risk. However, on July 7, the bulls propelled the price higher, breaking out of both the moving averages. The price is facing a stiff resistance close to $0.036. If this level is scaled, the next level to watch on the upside is $0.040.

TRX/USD

However, if bulls fail to push the TRX/USD pair above $0.036, a fall to $0.030 is likely. If this support also cracks, the decline can extend to the support line of the channel. Both moving averages are flattening out and the RSI is close to the midpoint. This points to a consolidation in the near term. We do not find any buy setups at the current levels.

ADA/USD

Cardano (ADA) is range-bound between $0.073 and $0.10. The bulls have held the first support at $0.077 and are attempting a pullback. If the price breaks out of the moving averages, it can move up to $0.10, which is a critical resistance. The cryptocurrency will pick up momentum on a breakout and close above $0.10.

ADA/USD

On the other hand, if the ADA/USD pair turns down from the 20-day EMA, bears will again try to break below the $0.077–$0.073 support zone. If this zone cracks, the next support on the downside is at $0.060. However, if the support zone holds, the bulls will attempt to scale above the moving averages. We will watch the next dip towards $0.077 and then suggest long positions.

Market data is provided by the HitBTC exchange.

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Use dapps on any desktop browser with Coinbase Wallet’s WalletLink 16282

Coinbase Wallet

Coinbase Wallet users can use their favorite decentralized apps (dapps) on any desktop browser with Coinbase Wallet’s WalletLink. WalletLink acts as a secure bridge between your Coinbase Wallet app and your desktop browser. To get started, all you have to do is scan a WalletLink QR code with your Wallet app. You can then use dapps anywhere, while keeping your funds safe and secure on your mobile Wallet app.

Taking the dapp out of the dapp browser

Since we launched Coinbase Wallet, hundreds of thousands of users have explored the new decentralized web through Wallet’s mobile dapp browser. People tell us they love the best-in-class Coinbase Wallet experience–biometric authentication to keep funds secure; encrypted key backups; support for a variety of coins and collectibles; access to the latest dapps–all wrapped up in a beautiful user experience.

But to date, the Coinbase Wallet experience has been limited to mobile devices. Users on desktop web browsers have had to resort to installing clunky browser extensions, copying and pasting private keys across devices, and seeing fragmented wallet balances. Now, WalletLink enables a simpler way to use dapps.

To try WalletLink, make sure you’ve updated to the latest version of Coinbase Wallet (version 19.1 on iOS and 18.0 on Android). Now visit any of the dapps that have integrated with WalletLink (listed below, with more on the way) and click the option to connect your Coinbase Wallet. Next, scan the QR code with your Coinbase Wallet QR scanner. This creates a secure encrypted link between the Wallet app and your browser. Finally, approve access to the DApp and you’re all set! Now, whenever you submit a transaction, you’ll get a ping on your phone for you to approve the transaction.

WalletLink also supports persistent connections to multiple dapps, so you don’t have to scan a QR code each time you want to use a new dapp.

WalletLink has been tested with Google Chrome, Mozilla Firefox, Microsoft Edge, Brave, and Opera browsers. We plan to roll out support for native mobile apps and more currencies in the future.

Top dapps support WalletLink, with more coming soon

As part of today’s announcement, some of the most popular crypto dapps in the ecosystem are launching support for WalletLink, including:

  • Compound — On-chain borrowing and lending platform
  • dYdX — Margin trading, borrowing, and lending
  • IDEX — Decentralized exchange
  • Maker — Stablecoin and decentralized reserve bank

WalletLink support is also coming soon to Uniswap and more of the most popular dapps.

If you want to know if your favorite DApp supports WalletLink, look for the option to connect your Coinbase Wallet. If you are a DApp developer, WalletLink takes just 5 minutes to integrate and does not require you to deploy any additional infrastructure.

Open-sourcing WalletLink

We see WalletLink as a critical way to expand access to dapps, which is why we want this experience to be available to everyone in the crypto community. To make that possible, we’re open sourcing WalletLink today and making it available for any dapp developer and any wallet that wants to integrate it into their product.

Look out for a blog post on the technical side of WalletLink, explaining how it works and why we decided to open source it.

WhatsApp in Talks to Launch Crypto Mobile Payments in Indonesia 16286

Indonesia

Facebook Inc’s messaging service WhatsApp is in talks with multiple Indonesian digital payment firms to offer their mobile transaction services, in a bid to tap the nation’s fast growing e-commerce sector, people familiar with the matter said. Indonesia could become the second country worldwide where WhatsApp introduces such services, as it awaits regulatory approval from India, its biggest market by users, that has been delayed due to local data storage rules.

But unlike in India where it plans to offer direct peer-to-peer payment services, WhatsApp will simply serve as a platform in Indonesia supporting payments via local digital wallets due to tough licensing regulations, the sources told Reuters.

The Indonesia model could become a template for Whatsapp to adopt in other emerging markets to get around regulations on foreign players creating their own digital wallets, the sources said.

Indonesia, home to 260 million people and Southeast Asia’s largest economy, is one of the top-five markets globally for Whatsapp, with over 100 million users.

The nation is set to see its e-commerce industry tripling to $100 billion by 2025, according to some estimates, but it also has some of the region’s strictest digital payments regulations.

WhatsApp is in advanced talks with several digital payments firms including ride hailer Go-Jek, mobile payments firm DANA, backed by China’s Ant Financial, and fintech startup OVO, which is owned by Indonesian conglomerate Lippo Group and is also backed by ride hailing company Grab, the sources said.

Deals with the three firms are expected to be finalised shortly, the people said, declining to be named as the talks are private.

WhatsApp has also approached state-owned Bank Mandiri (BMRI.JK), which operates a digital wallet, they said.

The Indonesia plan comes after Facebook CEO Mark Zuckerberg announced earlier this year that it would be rolling out WhatsApp payments to “some countries”.

“As Mark has said earlier this year… we are looking to bring digital payments to more countries,” a Facebook spokeswoman told Reuters.

“WhatsApp is in conversations with financial partners in Indonesia about payments, however the discussions are in early stages and we do not have anything further to share at this stage.”

Go-Jek declined to comment. DANA, OVO and Bank Mandiri did not immediately respond to requests for comments.

A spokeswoman for the Mandiri-backed e-wallet LinkAja said she could not confirm any talks with WhatsApp.

Kelly Services Enters Public Blockchain Arena, Partners With Online Hiring Platform 17214

Stablecoins

An increasing number of mainstream giants have taken the plunge into the blockchain world over the past two years. Players such as Walmart and Facebook have shown interest in the technology to improve areas like supply chain and value transfer. Staffing giant Kelly Services has joined online hiring platform Moonlighting to bring blockchain to human capital.

Kelly has announced “a strategic partnership between Kelly Services and Moonlighting,” John Healy, vice president and managing director for the Office of the Future of Work, “an organization within Kelly [Services],” said to me in an interview.

“Kelly’s innovation fund and our Office of the Future of Work, together, are coming together with Jeff [Tennery] and Moonlighting to form this,” Healy said. “A big part of it is the aspect that Moonlighting has made a commitment to using blockchain as a foundation for what they’re doing with their platform as they move forward,” he added. “We think that [there are] some pretty significant market opportunities that are going to come as a result of that.” The Moonlighting platform is based on EOSIO’s public blockchain, with no crypto asset involved, Moonlighting CEO and founder Jeff Tennery clarified to me in an email.

In the hiring world, job seeking and freelancing can be difficult and redundant in the sense that such parties may need to upload their skills, profiles and information to many different platforms and websites in an attempt to gain job exposure. This can be time consuming. Blockchain may hold the keys to smoothing out the process, as well as adding elements of decentralization and security to the mix.

S. Korean Financial Regulator Planning to Directly Regulate Cryptocurrency Exchanges 18139

The Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC) has disclosed a plan to directly regulate cryptocurrency exchanges and bring them into the regulatory system. Currently, the FIU indirectly controls cryptocurrency exchanges through administrative guidance to banks.

An FIU official said on Aug. 6 that the government will enhance the transparency of cryptocurrency transactions by introducing a “cryptocurrency exchange licensing system” recommended by the Financial Action Task Force (FATF).

Lee Tae-hoon, head of administration and planning at the FIU, said, “If an amendment to the Act on Reporting and Use of Certain Financial Transaction Information, which reflects the FATF’s international standards for cryptocurrencies, passes the National Assembly, it will be possible to prevent money laundering through cryptocurrencies.”

Lee was speaking at a public hearing on the enactment of a law to improve transparency in virtual asset trading held at the National Assembly Member’s Office building.

“If the amendment is approved by lawmakers, we can raise the effectiveness of regulations by shifting from the current indirect regulation through commercial banks to direct regulation,” Lee said.

In this regard, crypto exchanges and legal circles pointed out that the regulations on banks’ issuance of real-name accounts to cryptocurrency exchanges need to be specified first to ensure that cryptocurrency exchanges have the same level of real-name authentication and anti-money laundering systems as that of traditional financial companies.

Crypto.com Adds Binance Coin to Crypto Earn 19284

Binance Chain

Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has completed the Binance Chain integration and is adding BNB to Crypto Earn. Deposit at least $100 USD of BNB into Crypto Earn for 3 months (paying 8% p.a. in BNB) and get $20 USD in CRO as a bonus at the end of term. Limited to 5000 new users. First come, first served! Promo applies to new Crypto.com accounts created on or after Aug 6, 2019.

Effective today: (Crypto.com App Version 3.30)

– BNB BEP2 Deposits: Users will now be able to deposit and withdraw BNB Mainnet Native Token (BEP2 format) on the Crypto.com App.

– BNB in Crypto Earn: BNB will also have additional utility as it is now supported by Crypto Earn, allowing eligible Crypto.com App users to enjoy up to 8% p.a. on their BNB deposits, paid in BNB.

– BNB ERC-20 Holdings: Starting from Aug 6, 3:00PM HKT, users holding BNB (ERC-20) tokens on Crypto.com will have them automatically converted BNB (BEP2). All BNB (ERC-20) tokens will be swapped to BNB (BEP2) tokens on a 1:1 ratio.

– BNB ERC-20 Deposits: Crypto.com will continue to enable BNB (ERC-20) deposits to support the swap until further notice. Users interested in making BNB (ERC-20) deposits to Crypto.com after Aug 6, 3:00 PM HKT can only do so to their Crypto.com ETH Wallet Address ONLY.* Users can check their ETH wallet address by going to Wallet -> Ethereum -> Deposit on their Crypto.com Wallet App.

Notes:

*BNB (ERC-20) deposits made to a non-ETH wallet address on Crypto.com may result in an irreversible loss of funds; Crypto.com is not liable for such losses.

Please make sure you specify the destination tag/memo specified within the MCO wallet app > BNB > Deposit page when making BNB (BEP2) deposits.

The Crypto.com App may cease supporting BNB ERC20 tokens in the future with advance notice to you. Any BNB ERC20 deposits made after we cease supporting BNB ERC20 may result in an irreversible loss of funds.

BTC, BCH, XMR, XTZ and LINK 18967

LINK

XTZ/USD

Tezos (XTZ) is the best performer of the past seven days with a massive jump of over 40%. It shot up after Coinbase announced that it will onboard the cryptocurrency on its professional trading platform, Coinbase Pro. The four-stage process will start with inbound XTZ transfers on August 5. Huobi Wallet tweeted that it will be a Tezos baker and support XTZ in the near future. Blockchain development company Truffle announced that it will add support for the Tezos blockchain protocol in its developer suit. These favorable fundamental news helped the digital currency rake up strong gains. However, can this continue or will the rally peter out after the news-based rally? Let’s analyze the charts.

XTZ/USD

The XTZ/USD pair has formed a cup and handle reversal pattern, which will complete on a breakout and close (UTC time frame) above $1.85. Following the breakout, the target objective is $3.37 and above it $4.20. The moving averages have completed a bullish crossover and the RSI has jumped into positive territory, which suggests that bulls are back in the game.

However, the failure of bulls to close the week near the highest point shows profit booking at higher levels. If the price fails to break out of $1.85, the reversal pattern will not come into play and a few weeks of consolidation between $0.83 and $1.85 are possible.

Traders can buy on a close (UTC time frame) above $1.85 and keep a stop loss of $0.82. Until then, it is better to remain on the sidelines.

LINK/USD

Unlike other major cryptocurrencies, Chainlink (LINK) has been volatile and has been finding a place either among the top losers or the top gainers for the past few weeks. This week, it has again found a place as a top gainer. Oracle announced a partnership with Chainlink, which is a big boost for the project. In other news, Callisto Network announced integration of Chainlink Oracles and Zilliqa tied up with Chainlink to power its smart contracts. While the fundamental news flow has been positive, let’s see what the chart projects.

LINK/USD

The LINK/USD pair has found support at the 61.8% Fibonacci retracement levels of $2.0175 for three successive weeks. This makes it an important level to watch on the downside.

On the upside, bulls might face resistance at $2.8498, above which, the pair is likely to pick up momentum and rally towards the lifetime high. Therefore, traders can wait for the price to scale and close (UTC time frame) above $2.8498 before attempting long positions.

If bulls fail to propel the price above $2.8498, the pair might remain range-bound for a few weeks. Our bullish view will be negated if bears sink and sustain the digital currency below $2.0175.

BTC/USD

Bitcoin (BTC) has gained in double digits in the past seven days. The past week saw a flare-up of trade war between China and the U.S. and a rate cut by the U.S. Federal Reserve. Peter Tchir, former Executive Director at Deutsche Bank, said that Bitcoin acts as a lead indicator to hidden geopolitical tensions.

Fundstrat Global Advisors co-founder Tom Lee and a report by research firm Delphi Digital said that dovish policies of central banks will be bullish for the leading cryptocurrency. On the news that central banks have been buying a record quantity of gold, Anthony Pompliano said that central banks will start hedging their assets with Bitcoin if they “find out about the non-correlated, asymmetric upside profile of Bitcoin.”

Can Bitcoin extend its rally in the next few weeks? Let’s find out.

BTC/USD

In strong uptrends, the pullbacks are usually arrested at the 38.2% Fibonacci retracement level of the entire rally. The BTC/USD pair found support between the 38.2% and 50% retracement levels, which is a positive sign. Both moving averages are sloping up and the RSI is in positive territory. This suggests that bulls are firmly in command.

The up-move might face some resistance at the downtrend line, above which, the pair can retest the recent highs of $13,973.50. This level might see some profit-booking, but once crossed, we expect buyers to pile in and push the price toward $17,208.84.

Our bullish view will be invalidated if the price turns down from the downtrend line and plummets below $9,080. That will indicate selling at higher levels and might catch the bulls off guard.

BCH/USD

Bitcoin Cash (BCH) celebrated its second birthday on Aug. 1 and ended up as the fourth-best performer of the week. Can the rally continue?

BCH/USD

The BCH/USD pair is rising inside an ascending channel. It remains in an uptrend as long as it stays inside the channel. The bulls will now try to push the price towards the resistance line of the channel. A breakout of the channel will result in a sharp upward move. The traders can initiate positions as suggested in our earlier analysis.

Contrary to our assumption, if the pair turns down and plummets below the channel, it can plummet to $227.70 and below it to $166.25. Both moving averages have flattened out and the RSI is close to the midpoint, which points to a probable consolidation for a few weeks.

XMR/USD

Monero (XMR) rounded up the list with gains of just over 8%. Can the cryptocurrency extend its gains in the coming weeks? Let’s have a look at its chart.

XMR/USD

The bears broke below the support at $81.4151 in the past week, but could not capitalize on the breakdown. The XMR/USD pair has quickly bounced back above the level, which shows demand at lower levels. Both moving averages have flattened out and the RSI is just above 50, which points to a range-bound action for a few weeks.

If the price breaks out of $90.4999, it can rally to $107 and above it to $120. The traders can buy if the price closes (UTC time frame) above $90.4999 for a day and keep a stop loss of $71. The stops can be raised to breakeven as the pair reaches $107.

Contrary to our expectation, if the cryptocurrency reverses direction and plunges below $71, it will be a negative sign. Such a move can drag it lower to $60.

Market data is provided by the HitBTC exchange.