The crypto market just withstood July’s CPI data, leaving Bitcoin to consolidate near the $29.5K mark. The SEC’s recent delay on spot BTC ETF purposes has left traders with no choice but to invest in altcoins. Meme currency has ruled the market over the last week, with Shiba Inu (SHIB) leading the charge. Nonetheless, altcoins such as Ripple’s XRP, Litecoin (LTC), and Binance Coin (BNB) are poised to take attention in the coming week.
Knowledgeable Predicts an Altcoin Season
The daily altcoin market cap has been hovering around $230 billion for the last three weeks.Olszewicz noted a possible triple bottom or inverted head-and-shoulders pattern in the altcoin market cap, but remains doubtful about the pattern in the midst of current consolidation. He is prepared to make a transfer in excess of $300 billion. The current chart indicates one of two outcomes: either the market cap declines, contradicting the inverse head-and-shoulders pattern, or it exceeds $300 billion, signalling the start of an altcoin rush.
Ripple (XRP) Price Analysis
XRP has retreated from the 50-day EMA at $0.65, indicating that bears are attempting to turn this into a resistance level. XRP is currently consolidating between EMA lines, indicating that investors are bracing for a storm next week.
The $0.6 degree is an important help to keep an eye on. If this support fails, promotional pressure could increase, bringing the XRP price towards $0.56.
If, on the other hand, the value explodes from the 50-day EMA, it will stabilize and hover between these averages for some time. A lucrative increase and settlement above $0.67 would indicate a bullish development, most likely resulting in a surge to $0.73.
Litecoin (LTC) Price Analysis
Litecoin (LTC) is facing problems in order to recover from its bearish zone. Nonetheless, buyers are successfully defending the current $82.5 support level, indicating a strong recovery rise next week.
If the LTC price falls and remains below $81, it will signal a resumption of the bearish trend. Following that, the observer’s assistance is $79, then $75.
On the other hand, bulls may be preparing for a breakout above $85. If the market’s bulls push the price over this level, it might signal the start of a greater recovery, possibly hitting $95—a level where heavy selling pressure from bears could arise once more.
Binance Coin (BNB) Price Analysis
BNB value has begun a strong restoration rally in the last few hours, attempting to regain its prior impetus. Bulls bought quite close to the low of $238.
