Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRON: Price Analysis, July 16

ETH/USD Ethereum looks strong as it has broken out of the 20-day EMA. It can now rally to the overhead resistance at $496.36 where we expect another round of selling by the bears.

If the bulls scale above $500, a rally to $600 is probable with a minor resistance at $550. Therefore, we suggest a long position above $500 with the stops below the recent lows at $400. The traders can raise their stops to break even if the ETH/USD pair struggles to break out of $550. Though the risk to reward ratio is not very attractive, we are going ahead with the recommendation because Ethereum has been an outperformer, as it has stayed well above its April lows.

XRP/USD The bears have failed to benefit from the breakdown of the $0.45351 levels on Ripple.

BCH/USD Bitcoin Cash has rebounded from the $669 levels and has broken out of the 20-day EMA. It can now move up to the downtrend line, which will act as resistance.

Our positive view will be invalidated if the bears sink Bitcoin Cash below the $657 levels.

EOS/USD EOS has bounced off the $6.55 levels and has reached the downtrend line.

LTC/USD Litecoin has pulled back to the 20-day EMA, which is major resistance.

Subsequently, Cardano has scaled above the 20-day EMA and is close to the 50-day SMA. We believe a breakout above the overhead resistance of $0.161413 can result in a rally to $0.23.

XLM/USD Stellar has rebounded sharply from the lows and has reached the 50-day SMA, which is offering some resistance.

TRX/USD Tron is trying to bounce off the support levels at $0.03275.