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BTC, ETH, XRP, BNB, AVAX and DOT Price Analysis for July 16


 Bears have become active on the weekend as the majority of the coins are in the red zone.

Top coins by CoinMarketCap


The rate of Bitcoin (BTC) has dropped by 1.63% over the last 24 hours.

BTC/USD chart by TradingView

Despite a slight decline, Bitcoin (BTC) has not renewed the bearish trend as the price remains above the vital $20,000 mark. In addition, the selling volume has declined, confirming the bears’ weakness.

In this case, the more likely scenario is sideways trading between $20,000 and $21,000, so the coin could get more energy for further growth.

Bitcoin is trading at $20,611 at press time.


Ethereum (ETH) has lost more than Bitcoin (BTC) as the price has dropped by almost 2%.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) has once again made a false breakout out of the resistance level at $1,281. Thus, the rate is below the $1,200 mark, which means that bears might seize the initiative if buyers cannot restore the lost position. Such a scenario is relevant until the end of the current week.

Ethereum is trading at $1,195 at press time.


XRP has followed the drop of BTC, losing 1.38% of its price share.

XRP/USD chart by TradingView

Despite the fall, XRP is looking much better than other coins, as the rate is on the way to testing the $0.3434 level again. This means that bulls might be more powerful than bears as the price has not gone down after a false breakout. Thus, the volume has increased, which is locally a bullish signal. All in all, one can see the rise to the $0.35 mark if buyers can hold the gained initiative.

XRP is trading at $0.3382 at press time.


The price of Binance Coin (BNB) has gone down by 1.17% over the past 24 hours.

​BNB/USD chart by TradingView

Binance Coin (BNB) has continued a decline after a false breakout out of the $240 mark. However, at the moment, one needs to pay close attention to yesterday’s low at $235. If buyers can keep the price above that level, there are chances to see it bounce back shortly.

BNB is trading at $236.4 at press time.


Avalanche (AVAX) has suffered the worst decline today, going down by almost 5%.

AVAX/USD chart by TradingView

From the technical point of view, Avalanche (AVAX) is trading similar to BNB as there are chances to see growth after the drop below $20. Bears might seize the initiative only if they get the price back to the $18 mark.

AVAX is trading at $19.13 at press time.


Polkadot (DOT) is not an exception to the rule, falling by 4% since yesterday.

DOT/USD chart by TradingView

Polkadot (DOT) has started a correction after a failed attempt to rise above the $7 mark. At the same time, there is a possibility for bulls to seize the initiative until the price is above the $6.50 mark. If that happens, one can expect it to bounce back quickly.

DOT is trading at $6.61 at press time.


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