28 Jul 2022 · 2 min read

Bitcoin and Ethereum Consolidate Gains, Altcoins in Green

 

  • Bitcoin price is consolidating near the USD 23,000 zone.
  • Ethereum is facing resistance near USD 1,675, XRP is struggling to clear USD 0.365.
  • All altcoins from the top 100 list are in the green today.

Bitcoin price gained pace after it broke the USD 22,500 resistance and climbed above the USD 23,000 level before the bears appeared near USD 23,450. It is currently (11:44 UTC) consolidating gains near the USD 23,000 level and is up 8% in a day and down 1% in a week.

Similarly, most major altcoins are consolidating gains. ETH corrected lower from the USD 1,675 resistance. XRP is trading in a range above the USD 0.35 level. ADA must stay above USD 0.50 to continue higher.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a strong rise above the USD 23,000 level, bitcoin price spiked towards USD 23,500. However, BTC failed to continue higher above USD 23,450 and dropped just below USD 23,000 again before recovering. It is now consolidating just above the USD 23,000 level. On the downside, an initial support is near the USD 22,750 level. The next major support is near the USD 22,500 zone. Any more losses might increase selling pressure for a push to USD 22,000.

On the upside, the price might face resistance near USD 23,250. The next major resistance could be USD 23,450, above which the price could rise towards USD 24,000.

Ethereum price

Ethereum price extended gains above the USD 1,600 level and climbed above the USD 1,650 level but faced sellers near USD 1,675. The price is now correcting lower and trading near USD 1,630. ETH is up almost 12% in a day and 7% in a week. On the downside, an initial support is near the USD 1,600 level. The next major support is near the USD 1,550 zone.

If there is another increase, the price might face sellers near USD 1,675.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) spiked towards the USD 0.52 level before it faced sellers. It is now back near USD 0.50. A downside break below USD 0.50 might send the price towards the USD 0.48 level.

BNB once again failed to clear the USD 275 level. It is back below USD 270 and might test the USD 265 support. Any more losses may perhaps call for a drop towards USD 255.

Solana (SOL) gained over 10% and surpassed the USD 40 resistance level. If the bulls remain in action, they might test the USD 42 resistance.

DOGE is consolidating above the USD 0.0650 resistance zone. If there is another increase, the price might test the USD 0.0680 resistance zone. The next major barrier is near the USD 0.0700 zone.

XRP price settled above the USD 0.35 resistance zone. It is now trading in a range and might attempt a push above the USD 0.365 and USD 0.370 levels.

Other altcoins market today

Many altcoins are showing positive signs, including DOT, MATIC, AVAX, UNI, ETC, LTC, FTT, CRO, LINK, NEAR, XLM, APE, and FLOW. LDO is the best performer among the top 100 cryptoassets by market capitalization today as it jumped 33% and surpassed USD 2.00. It’s also up 30% in a week.

To sum up, bitcoin price is consolidating gains near the USD 23,000 level. If BTC holds this level, it could increase its chances of moving higher and testing the USD 24,000 level.

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