Ethereum, Cardano and BNB currently present themselves stronger than Bitcoin

All three analysed altcoins Ethereum (ETH), Cardano (ADA) and the Binance Coin (BNB) continue to trade above the important moving average EMA200 and are thus to be valued more strongly than the cryptocurrency Bitcoin (BTC)

Ethereum (ETH): 2,000 USD as the key level

  • Price (ETH): 2,130 US dollars (USD) (previous week: 2,085 US dollars USD)
  • Resistances/targets: 2,174 USD, 2,266 USD, 2,400/2,471 USD, 2,645 USD, 2,886 USD, 2,982 USD, 3,198 USD, 3,568 USD, 3,715 USD, 3,976 USD, 4,374 USD
  • Supports: 2,022/2,050 USD, 1,930 USD, 1,825 USD, 1,755 USD, 1,664 USD, 1,545 USD, 1,489 USD, 1,425 USD, 1,294 USD, 1,049 USD, 984 USD, 922 USD, 769 USD, 544 USD

Kursanalyse Ethereum (ETH) KW26Kursanalyse Ethereum (ETH) KW26Price analysis based on the value pair ETH/USD on Bitfinex

Ethereum tried to break above the resistance area between 2,400 USD and 2,471 USD this week, but bounced downwards for the time being. As a result, even bullish analysis from major US bank Goldman Sachs failed to spark a price rally for the time being. In the last few trading days, Ethereum fell back to the upper edge of the green support zone. For now, the Ether price can hold above the psychological 2,000 USD mark. Only a renewed rise above USD 2,266 increases the chances of another attack attempt by the bulls towards the weekly high at USD 2,407. If, on the other hand, Ethereum slips back below USD 1,930, lower price targets at USD 1,825 and USD 1,755 come back into view.

Bullish variant (Ethereum):

The buyer camp’s attempt to lift the Ether price back above the red resistance area failed this week. The price bounced south off the super trend and is currently trading at the previous week’s level at $2,091. Thus, the bulls once again have the EMA20 (red) as the first resistance in front of their chest. Only when the 2,174 USD and subsequently also the 2,266 USD are broken, a renewed rise towards 2,400 USD can be planned. Here, the EThe next hurdles are the MA50 (orange) and the super trend in the daily chart. If the bulls manage to overcome the red resistance area and thus also the 38 Fibonacci retracement, a march through to the next important price target at USD 2,645 is conceivable. On the way, the upper Bollinger band at USD 2,508 also has a price-limiting effect. If a rise to the light blue resistance line succeeds, this would be an important step towards USD 2,886.

A price stabilisation above the 50 Fibonacci retracement at USD 2,834 would bring the maximum price target for the coming weeks at USD 2,981 back into focus. If investors also manage to overcome this price target in the course of a dynamic upward movement, a subsequent rise to the 61 Fibonacci retracement at USD 3,198 is possible. Only if the bulls muster enough strength to sustainably recapture this resistance level will the upper edge of the blue resistance zone at USD 3,568 come into view as a price target in the medium term. A follow-through to the 78 Fibonacci retracement at USD 3,715 is also conceivable. If there is no significant setback here, a rise to USD 3,976 is also realistic. In the short term, a breakout of this resistance level is not to be expected. The current chart situation for Ethereum does not allow for a rise to the all-time high.

Bearishe variant (Ethereum)

If the Ether price slips back below USD 2,022 in a timely manner and falls back below EMA200 (blue) and MA200 (green), further declines are likely. However, an abandonment of USD1,930 is likely to reinforce the downward momentum and take Ethereum to USD1,825 or even USD1,711. If the bears manage to break the progression low, the consolidation will extend to the range between USD 1,664 and USD 1,545. If the March 2021 low is also undercut on the daily closing price, the purple support area between USD 1,489 and USD 1,425 will come into focus for investors. If the bulls fail to achieve a sustainable turnaround here, a correction to USD 1,359 or even USD 1,294 is to be expected.

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If the overall market also continues to weaken in the coming weeks, a fall back to USD 1,049 is to be expected. This support area contains several lows from the beginning of this year as well as the overriding green uptrend line. Here, at the latest, the bulls will try to turn the tide in their favour. If this does not succeed, a price decline to at least USD 922 is to be expected. In the medium term, Ethereum could even drop further and target the range between 769 USD and 720 USD. The maximum derivable price targets on the downside are still 544 USD as well as 489 USD. However, this worst-case scenario only activates in the event of a sustained abandonment of the 922 USD.

Indicators (Ethereum)

The RSI threatens to fall out of the neutral zone again with a value of 45 and form a new sell signal. Although the MACD indicator in the daily chart currently still shows a buy signal, it is also lowering its head again. The weekly chart shows a similar picture. Here, too, both indicators continue to trend south.

Cardano (ADA): ADA price fails to break out to the upside for the time being

  • Price (ADA): USD 1.35 (previous week: USD 1.39)
  • Resistances/targets: 1.40 USD, 1,48 USD, 1.61 USD, 1.74 USD, 1.82 USD, 1.90 USD, 2.25 USD, 2.46 USD, 2.78 USD
  • Supports: 1.25USD/1.19 USD, 1.10 USD, 1.00 USD, 0.93 USD, 0.82 USD, 0.75 USD, 0.70 USD, 0.58 USD

Kursanalyse Cardano (ADA) KW26Kursanalyse Cardano (ADA) KW26Price analysis on the basis of the value pair ADA/USD on Bittrex

  • ADA price bounces off the green resistance zone towards the south
  • Support area between 1.25 USD and 1.19 USD comes back into view
  • Resistance at 1.61 USD still to be seen as short-term price target

Cardano failed this week to move towards the first key price target at USD 1.61 and has already bounced downwards at the lower edge of the green resistance area. As such, ADA continues to trade below the EMA20 (red) and EMA50 (orange). Once again, the support zone between USD1.25 and USD1.19 comes into focus as a price target on the downside.

Bullish variant (Cardano)

Cardano is also unable to sustainably break away from the overall market weakness. However, as long as the ADA price does not slide back below USD 1.19, there are chances for a renewed attempt to rise back towards USD 1.40. If the breakout above this price level is successful, Cardano will continue to be a target for investors. If the breakout above this price level succeeds and the EMA20 (red) as well as the EMA50 (orange) can be broken, a directional decision will be made at the weekly high at USD 1.48. The bulls will manage to break above this level. If the bulls manage to break above this resistance level, a rise to the upper edge of the green resistance zone is conceivable. This is where the cross-resistance from the June 15 high and the super-trend at USD 1.61 runs. If this strong resistance is also broken, a march through towards the purple area between USD 1.74 and USD 1.82 can be envisaged.

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This is also where the 127 Fibonacci extension at USD 1.77 runs. If the bulls can subsequently also break through the USD 1.82 level on the day’s closing price, the high at USD 1.90 will come into view. Only if this resistance level is also dynamically overcome and the blue resistance zone is left upwards, a subsequent rise to USD 2.25 is conceivable. The bulls will have to prove themselves again at this resistance level in the form of the 161 Fibonacci extension.n. A direct jump above this resistance is unlikely for the time being. A price rise to the all-time high at USD 2.46 is only realistic if the overall market stabilizes sustainably. Only when Bitcoin resumes its rally movement, Cardano could target the next price target at 2.77 USD.

Bearish (Cardano).

Bears once again prevented Cardano from making a sustainable rise this week. Already at the 1.48 USD level it was finished. Today, Friday, the ADA price is trading below the 1.40 USD level again and could drop further in the next few trading days. If the bears manage to push the ADA price back towards USD 1.25 and USD 1.19 by the end of the day, the chart picture will cloud over once again. A fall back to the area around USD 1.10 is conceivable. This is where the cross support of the 78 Fibonacci retracement, EMA200 (blue) and MA200 (green) runs. If the overall market continues to weaken and this support zone is dynamically undercut, a renewed decline to the low at USD 1.00 is to be expected.

Below USD 1.00, the lower edge of the range at USD 0.93 comes into view. If the bulls do not turn the tables here, the downward pressure will continue to increase. The correction then extends to the USD 0.81 level. If this price level also fails to hold, a continuation of the trend towards the yellow support zone between USD 0.75 and USD 0.70 is to be planned. If the 50 Fibonacci retracement is then also breached on the daily closing price, the correction could extend to the maximum bearish price target at 0.58 USD. However, as long as Bitcoin can hold above USD 30,000, tightly hedged buys between USD 1.10 and USD 1.00 offer a good risk-reward ratio.

Indicators (Cardano).

The RSI threatens to fall below the 45 level and generate a new sell signal if the price continues to weaken. The MACD indicator is also threatening to generate a sell-signal. The weekly chart shows a similar picture. The MACD indicator has already turned to sell. The RSI is also trending south and has dipped back into the neutral zone between 45 and 55.

Binance Coin (BNB): BNB price bounces upwards off EMA200

  • Price (BNB): $311 (previous week: $287).
  • Resistances/targets: 315 USD, 338 USD, 345 USD, 367 USD, 407 USD, 428 USD, 451 USD, 480 USD, 501 USD, 579 USD, 624 USD, 692 USD
  • Supports: 300 USD, 284 USD, 254 USD, 225 USD, 211 USD, 186 USD, 165 USD, 148 USD, 124 USD

Kursanalyse Binance Coin (BNB) KW26Kursanalyse Binance Coin (BNB) KW26<img src=”https://www.btc-echo.de/wp-content/uploads/2021/07/BNBUSD-1D-09.07.21.png 1950w, https://www.btc-echo.de/wp-content/uploads/2021/07/BNBUSD-1D-09.07.21-706×460.png 706w, https://www.btc-echo.de/wp-content/uploads/2021/07/BNBUSD-1D-09.07.21-920×600.png 920w, https://www.btc-echo.de/wp-content/uploads/2021/07/BNBUSD-1D-09.07.21-768×501.png 768w, https://www.btc-echo.de/wp-content/uploads/2021/07/BNBUSD-1D-09.07.21-1536×1001.png 1536w” alt=”Price analysis Binance Coin (BNB) KW26″ height=”1271″ width=”1950″ />Price analysis based on the value pair BNB/USD on Binance

  • BNB price bounces off resistance at 338 USD towards the south
  • MA200 (green) at 283 USD acts as a key support level
  • Overarching price target is now found at 367 USD

Binance Coin BNB managed to reclaim the EMA200 (blue) this week, reaching the first resistance at 338 USD. However, the price turned south here and is currently trading only marginally above the EMA200 again. The NBB price thus slipped back below the EMA20 (red). Only a sustainable rise above USD338 opens up new upward opportunities.

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Bullish variant (BNB)

At USD 308, the NBB price is once again trading in the blue support area. Here, the moving average lines EMA20, EMA200 and MA200 (green) converge. If the bulls manage to stabilise the BNB price in this area and push it back above USD 315, a renewed rise to the weekly high at USD 338 could follow. Here, however, it should once again be difficult for the bulls to generate more upward momentum. Already at USD 345, there is another strong resistance in the form of the EMA50 (orange) and the upper Bollinger band. Only if the 345 USD is overcome on the daily closing price, a rise to the super trend at 367 USD is conceivable. If this resistance is also broken, further price targets at USD 390 (38 Fibonacci extension) and USD 407 are activated. Should the NBB price continue to gain momentum, the red resistance zone will come into view again. In addition to the high from 03 June, the 50 Fibonacci retracement is also found at 445 USD.

If this area is also overcome and the 50 Fibonacci retracement at USD 445 is also broken to the upside, a preliminary decision will be made at USD 480, or at the latest at USD 501. Here, the 61 Fibonacci retracement is found, which often represents a relevant retracement target after a strong sell-off. If the bulls manage to sustainably overcome the 501 USD as well, BNB will set its sights on the super-trend at 525 USD. Only when the BNB price also leaves this resistance level behind, will the next price target at USD 579 be activated. If the NBB price also breaks through this resistance, the orange resistance zone between USD 608 and USD 624 will come into view. As long as the overall market does not move northwards, a rise to the all-time high at USD 692 is unlikely.

Bearish variant (BNB)

If the bears manage to push the BNB price back below USD 300 in the direction of USD 284, a directional decision is to be expected here. Here, the MA200 (green) is found paired with closing prices from the last weeks. If this support level also fails to hold, a retracement towards 254 USD is imminent. Here, the lower Bollinger band is found. If this is also breached, the Korrection to the last low at USD 224 is possible. A price setback to the low of 23 May at USD 211 would also be conceivable. If this support is also abandoned, the lower edge of the yellow support area at USD 186 should be considered as a target.

If the overall market continues to weaken, the price target of USD 165 is also conceivable. The green support zone between USD 148 and USD 124 should continue to be planned as the maximum bearish price target. However, as long as the NBB price remains above the MA200 at USD 284, a fall back to this chart area is not to be expected for the time being.

Indicators (NBB)

The RSI is in the neutral zone between 45 and 55. Only a breakout above 55 generates a new buy signal. On a daily basis, the MACD indicator already has a buy signal active. In the weekly chart, the MACD is also showing a sell signal this week. As with the daily chart, the RSI indicator is trending sideways without direction.

Disclaimer: The price estimates presented on this page do not represent buy or sell recommendations. They are merely the analyst’s assessment.

The chart images were created with the help of TradingView to create the charts.

USD/EUR rate at the editorial deadline: 0.84 euros.