The largest cryptocurrency Bitcoin (BTC) interpreted the technical outlook for Ethereum (ETH) and Stellar (XLM) for Uzmancoin.
Bitcoin: BTC / USD
Accelerated after testing 9220 support, BTCUSD tested 9330 support on 24 June 2020, but did not find enough momentum to break 9800 resistance during the week. There has been an increase in the volume of long positions on the news that PayPal will start selling cryptocurrencies, but this momentum was not enough to catch a positive outflow from the 9800 area where sellers are concentrated. Although 10000 resistance was spoken again with the upside break of the 9500 level, the large amount of sales in the miners’ pools brought critical supports back on the agenda. 9220 and 9070 levels can be tracked if the market continues to move forward with sales and the 9330 support tested breaks. Leaving the 9000s may bring withdrawal up to 8800 in the first place, with the desire to make a new bottom.
However, a return from 9330 support may bring resistance 9500 first, and then 9650 resistance. In this context, it is beneficial to carefully monitor 9800 level with 9720 intermediate resistance. As long as 9800 resistance cannot be broken in the upside-down scenario, the idea that withdrawals may occur, as we have emphasized, remains valid.
Resistance levels: 9500 – 9650 – 9800 – 10000
Support levels: 9330 – 9220 – 9070 – 8800
Ethereum: ETH / USD
ETHUSD, which had a positive out of 228 support last week, started the week with rising and tested 250 levels. He tested 237 support, which we focused on the cryptocurrency that had not been able to find enough volume to break the 253 resistance it had previously tested and withdrew. It is observed that the cryptocurrency, which has experienced a 5% increase in whale addresses and an average of more than 10% since the beginning of the year, is trying to maintain its position above 228 support. In this case, withdrawals up to 228 support can be met as usual. However, if the market continues to advance with the seller and 228 support is broken, sales pressure may increase and up to 210 levels may occur. In the upward movement, it seems important for the cryptocurrency to break the 253 resistance and make a new peak. Thus, 268 level can be brought to the agenda in the first place with 258 intermediate resistance at short distance.
Resistance levels: 241 – 246 – 253 – 258
Support levels: 237 – 228 – 223 – 215
Stellar: XLM / USD
XLMUSD, which was selling in 0.0721 resistor, gained momentum after testing 0.0683 support and tested 0.0725 resistance. In the cryptocurrency that was priced between 0.0725 and 0.0683 bands on June 24, 2020, buyers have seen a loss of power in the last two days. If the market progresses with the seller and the support of 0.0683 is broken, the supports of 0.0671 and 0.0653 can be considered in the first place. In this case, it is beneficial to pay attention to 0.0653 support. A possible negative output may bring the main support points 0.0599 and 0.0523.
In the upside scenario, it is important for cryptocurrencies to come close to 0.0725. In this case, the break of 0.0732 and 20 MA can be followed first. In the next period, resistances of 0.0741, 0.0762 and 0.0773 can be considered.
Resistance levels: 0.0707 – 0.0725 – 0.0741 – 0.0735
Support levels: 0.0683 – 0.0671 – 0.0635 – 0.0599