ZEC rose more than 12% after Zcash moved closer to deploying its Ironwood shielded pool, an upgrade expected to eliminate the vulnerability that could theoretically allow unlimited fake ZEC to be created and help restore community confidence.
By John Isige The pair continues to form a new upward trend that began early last month. However, quotations have now reversed from 81.25 (Murray level [5/8]) and are trying to develop a downward correction. The key level for the bears appears to be 75.00 (Murray level [4/8]), supported by the middle line of the Bollinger Bands. A downside breakout below this level would create the prospect of a reversal of the current upward trend and a decline toward 68.75 (Murray level [3/8]), 62.50 (Murray level [2/8]) and 56.25 (Murray level [1/8]). The most important level for the bulls remains 81.25 (Murray level [5/8]). Consolidation above it could trigger a resumption of price growth toward the targets of 93.75 (Murray level [7/8]) and 100.00 (Murray level [8/8]). Technical indicators allow for continued growth of the pair. The Bollinger Bands are pointing upward. The MACD histogram is decreasing but remains in positive territory. The Stochastic oscillator is pointing downward but is close to the oversold zone, which does not exclude a near-term upward reversal. It is also worth noting that on the weekly chart, an attempt is being made to shift the long-term downward trend into an upward one. The Bollinger Bands have turned horizontal after the decline. The Stochastic oscillator has turned upward. This makes the resumption of the pair’s growth more relevant.
By John Isige The ETH/USD pair is moving within a downward trend: last week, quotations attempted a corrective rebound from the area of yearly lows and reached the upper boundary of the descending channel at 1830.00, but they have now resumed their decline.
By John Isige The pair has continued to decline steadily for the second consecutive month, forming a new downward trend. Last week, quotations attempted an upward correction following the release of weak US employment data for June. The price reached the 1.1718 level (Murray level [4/8], the upper Bollinger Band), where it is currently trading. Consolidation above this level would open the prospect of further growth toward 1.2695 (Murray level [5/8]) and 1.3671 (Murray level [6/8]). The key level for bears appears to be 1.0742 (Murray level [3/8]) below the middle Bollinger Band. A downside breakout below this level would lead to a resumption of the pair’s decline toward 0.9765 (Murray level [2/8]) and 0.7812 (Murray level [0/8]). Technical indicators generally allow for further downside movement. The Bollinger Bands are turning downward. The MACD histogram is declining but remains in negative territory. The Stochastic oscillator is also turning lower from the overbought zone. It should also be noted that on the weekly chart, the Bollinger Bands continue to point downward, confirming the persistence of the long-term bearish trend and making further downside movement more likely.
By Sagar Dua This week, unlike most leading cryptocurrencies, SOL/USD has attempted to rise toward 75.00 (Murray level [4/8]), which it is currently testing actively.
By John Isige ETH/USD has been losing ground for a second consecutive month, forming a new downward trend. After reaching an annual low of 1,504.00, the pair made a limited corrective attempt but is now declining again, trading close to 1,500.00 (Murray [0/8]). A sustained move below this level could open the way toward 1,250.00 (Murray [–2/8]). A breakout above 1,750.00 (Murray [2/8]) could strengthen bullish momentum, allow the pair to leave the channel through its upper boundary, and move toward 2,000.00 (Murray [4/8]), 2,250.00 (Murray [6/8]), and 2,500.00 (Murray [8/8]).
By John Isige In the middle of the month, SOL/USD resumed its decline within the medium-term downtrend after a correction from 75.00 (Murray level [4/8]). The pair is now testing the middle line of the Bollinger Bands near 68.75 (Murray level [3/8]). A consolidation below this level would allow bears to regain lost ground and continue toward 56.25 (Murray level [1/8]), 50.00 (Murray level [0/8]), and 43.75 (Murray level [–1/8]). The 75.00 mark (Murray level [4/8]), reinforced by the upper Bollinger Band, appears to be key for bulls. A breakout above it would return the price to the long-term sideways range, after which it could move toward 91.00, the upper boundary of the range, or 100.00 (Murray level [8/8]).
By John Isige XRP/USD has been declining for the second consecutive week amid the broader market trend, reaching 1.0970 under pressure from several negative factors, the most important of which is monetary policy.
By John Isige ETH/USD is losing value actively, having formed a new downward trend since the beginning of May. After reaching annual lows around 1504.00, the asset made a limited correction attempt but failed to develop bullish momentum. At present, the instrument is testing the support area of 1750.00–1700.00 (Murray level [2/8]–the middle line of the Bollinger Bands). A consolidation below this zone would allow sellers to target 1500.00 (Murray level [0/8]) and 1375.00 (Murray level [–1/8]), while a breakout above 2000.00 (Murray level [4/8]) would signal a resumption of upward dynamics toward 2250.00 (Murray level [6/8]) and 2500.00 (Murray level [8/8]).
