Price analysis 7/11: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

cointelegraph.com:

The United States dollar index (DXY) resumed its strong uptrend on July 11, indicating that investors are preparing for the July 13 CPI report to be hotter than expected. A survey of economists by Bloomberg estimates that in June consumer prices surged to 8.8%, a four-decade high.

Arthur Hayes, former CEO of derivatives trading platform BitMEX, believes that the U.S. dollar and the euro were moving towards hitting parity. If that happens, the central banks will have to adopt yield curve control, which could lead to the disintegration of the currency and ultimately benefit Bitcoin (BTC).

Glassnode analyst James Check said in an interview with Cointelegraph that the number of Bitcoin holders is higher during the current bear market. This shows the resilience of the Bitcoin network. Another positive is that the smaller investors have used the dip to add to their positions.

Although the short-term picture remains skewed to the downside, the long-term view looks encouraging for bulls. Will Bitcoin and the altcoins attract buying at lower levels? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin turned down from $22,527 on July 8 and broke below the 20-day exponential moving average ($21,164) on July 10. This suggests that traders who may have bought at lower levels booked profits and the aggressive bears initiated short positions.

The BTC/USDT pair could decline to the support line of the triangle. This is an important level to watch out for because a bounce off it will suggest that the bulls are accumulating near this level. The buyers will then again try to clear the overhead hurdle at the 20-day EMA and push the pair to $23,363.

A break and close above the 50-day simple moving average ($24,496) will