Crypto Frontline

Weekly Crypto Analysis July 23-29, 2018

Weekly Crypto Analysis July 23-29, 2018

Weekly Crypto Analysis July 23-29, 2018
July 29
08:14 2018


Bitcoin chart analysis


Since our last weekly crypto analysis, the Bitcoin price had been able to advance further, breaking above the 7,750 resistance level and finding short-term resistance close to 8,500. The price had become choppier, meaning sellers are showing stronger interest to sell.

Most likely, July will end up being the best month for Bitcoin in 2018. However, enthusiasm should be tempered, since the price had been heavily under pressure since the beginning of the year.

Even if the price action will rebound higher again next week, we suspect sellers will resume impulsively between 8,550 and 8,840, an area that we have highlighted on the chart.

On the other hand, if sellers push the price lower, 7,750 is expected to act as a support level. If buyers won’t be able to defend that level, the price could dip towards the 7,050 key swing point. Overall, we expect the next week to be balanced and no side of the market to be heavily in control.



Ethereum chart analysis


Ethereum’s volatility had been steadily declining for the past few weeks. Despite that, the price continues to trade inside the upward channel that we’ve spotted a week ago. In the near term, we suspect the sellers will push the price action towards the lower line of the channel, which is where buyers are expected to step in and try to balance to order flow.

Our take is that the price will continue to fluctuate inside the channel. A breakout on either side could be a signal for a future stronger move in the direction of the break. The 506 level and then 545 are expected to act as resistance, while on the downside, a breach of the lower line will expose the 407 level, where the current bullish structure had started to form.



Stellar chart analysis


One of the best performing cryptocurrencies in July had been Stellar. Since July 12th (when the price was 18 US cents) until three days ago, the price of Stellar nearly doubled, overcoming by far the performance of Bitcoin.

However, resistance had emerged around 35 cents and the price had been under pressure since July 26th. We see buyers had managed thus far to keep the price action above the 29-31 cents support area. We suspect there will be intense activity around it and if a new bull move will emerge around it, the 35 cents high will be again under attack. A break above it will open more room towards 38 cents.

On the other hand, if the bears will breach below the above-mentioned support area, we expect the Stellar price to head lower towards 26 cents, where an interesting swing point is also located.

Briefings about ICOs

According to, an interesting ICO project currently running is UBEX. It aims to develop a global decentralized exchange for advertising, based on neural networks and smart contracts. The ICO will run until August 13th.

In terms of upcoming ICOs, Dylyver is a blockchain-based project that aims to develop a ride-sharing service and social transportation. The token sale will begin on August 1st.