Bitcoin, Ethereum & Fantom - American Wrap 7/2

Crypto collapse with Bitcoin falling below $9,000 and Ethereum getting close to $220

Most cryptocurrencies are experiencing a significant sell-off after Bitcoin fell below $9,000. BNB/USD has suffered the most with a 4% drop towards $15 and needs to hold $14.8 support. 

XRP/USD has only fallen by 2% but it's not surprising considering the digital asset has been weaker than the rest for the past few months. 

Ethereum Technical Analysis: ETH/USD trying to stay above $230 and daily EMAs

Ethereum briefly dropped to $226.88 but recovered and it’s currently fighting to stay above the 12-EMA at $229.90 and the 26-EMA at $230.13. Closing above both EMAs is crucial and could signify another bull cross for both indicators.

Fantom Technical Analysis: FTM/USD massive 50% surge towards $0.01

Fantom was up by almost 71% after a tremendous bull rally towards $0.01 from a low of $0.0059. It’s unclear what caused the explosion although this recent announcement could be one of the causes:

Apparently a big whale also bought a lot of Fantom coins considering the digital asset as extremely undervalued.