Foreign media analysis suggests that the cryptocurrency market experienced increased divergence in late July. Bitcoin stabilized temporarily after its earlier rebound, XRP remained compressed within a consolidation range, SHIB entered a high-volatility phase after a surge in volume, and ZEC transitioned from its previous rapid upward movement to consolidation.
Bitcoin has stabilized temporarily after its rebound.
The article states that Bitcoin is currently hovering around $64,300, with short-term moving averages providing some support, but stronger resistance remains above. Its rebound structure has not been broken, but the long-term downtrend has not been completely reversed either.
Looking at the trend, after the pullback in June, Bitcoin gradually raised its lows in July, with volatility significantly decreasing compared to before. Foreign media believe this recovery is more like a mild rebound than an emotional rally following a rapid surge.
XRP Approach Direction Selection
XRP is currently trading within the symmetrical triangle pattern formed in July, with prices hovering around $1.09. The article argues that with lower highs and higher lows, volatility has clearly decreased, suggesting a potential breakout window is approaching.
However, XRP still faces resistance from several medium- to long-term moving averages, with the $1.11 to $1.14 range being a key area to break through in the short term. If it fails to hold the upward support level, the $1 level will remain a key support level for the market.
SHIB surged on high volume, while ZEC entered a consolidation phase.
SHIB rose nearly 15% in a single day, briefly breaking through the 50-day and 100-day moving averages. The article states that this surge was accompanied by higher trading activity than in previous months, indicating that it was not solely driven by low liquidity.
However, after the rapid rise, SHIB's short-term indicators have entered overbought territory, and profit-taking may occur. The next, more significant resistance level is concentrated around $0.0000059 to $0.0000060.
In contrast, ZEC cooled significantly after its initial surge. Having failed to hold above $570, the price has returned to consolidation near its short-term moving average. The article argues that the simultaneous decline in trading activity indicates a lack of stronger momentum from both buyers and sellers.
Overall, this commentary argues that the market currently lacks a unified direction. Bitcoin is in a correction phase, XRP awaits a breakout, SHIBOR is experiencing short-term sentiment upturn, while ZEC is closer to a period of consolidation.
