Since BTC is still strong, many remain positive about it. These days, it’s nearly $70,000. As this price increases, XRP, KAS, STX, and JASMY might garner more attention. At its greatest level since March 2023, an analysis firm known as Santiment lately wrote on X on the advantages of Bitcoin.
Short-term buyers looking for a new all-time high and long-term investors expecting significant gains are to blame for this change in mood. Notably, Anthony Scaramucci, head of SkyBridge Capital, said that Bitcoin’s market capitalization could reach or even exceed gold, which is currently worth between $15 trillion and $16 trillion compared to $1.3 trillion for Bitcoin.
On July 27, people tried to push Bitcoin to $70,000, but the long wick on the candlestick shows that selling pressure is at higher levels. The relative strength index (RSI) is in the positive range, and the exponential moving average (EMA) for the last 20 days is $64,945.
Bitcoin’s Positive Indicators And Potential For Altcoins
They all show that things are getting better. Bitcoin could go over $70,000 if it can return to where it is now or the exponential moving average (EMA) that has been in place for 20 days. It could also hit the support area between $72,00 and $73,777. Should the price fall below the 50-day simple moving average (SMA) at $63,422, it might drop to $60,000.
XRP has been oscillating between $0.57 and $0.64, so the market is uncertain. Given the RSI’s positive reading and the 20-day EMA’s rising to $0.57, buyers are plentiful. If XRP goes above $0.64, it could go up to $0.74, but there could be a lot of selling pressure at that point. On the other hand, a drop below the 20-day EMA could make the consolidation phase last longer in the $0.41 to $0.64 band.
On July 27, Kaspa (KAS) ran into trouble at $0.19. The moving averages are critical to support; a bounce off these levels could lead to a break above $0.19 with a goal of $0.24. If support doesn’t stay strong, KAS could fall to $0.14. The 4-hour chart shows a bullish rising triangle pattern that will end when the price breaks above $0.20. The price may go up to $0.24. This bullish setting could be thrown out if the price falls below the uptrend line.
As of July 15, Stacks (STX) broke above its decline line. This could mean that the bear market is over. Buyers have a small edge when moving averages cross over to the rise, and the RSI is healthy. If STX stays above the collar for a while, it might end an inverse head-and-shoulders pattern that would move the price between $2.50 and $2.65. If the price drops below the moving averages, more people may sell, and the price could drop to $1.65.
After falling below $0.027 on July 25, JasmyCoin (JASMY) rose again. The 20-day EMA is at $0.028, and the RSI is positive, which means buyers have the upper hand. If JASMY can get past the support at $0.033, it could go up to $0.039. But if this level doesn’t hold, prices between $0.027 and $0.033 could stay stable. If it breaks below $0.027, the bears would take over.
The 4-hour chart shows that $0.033 is a level of resistance, and sellers still hold strong positions. If the price goes above $0.033, it could rise to $0.039. If, on the other hand, the pair falls below the 20-EMA, it could fall to the $0.027 support.
