25 Jul 2022 · 2 min read

Bitcoin and Ethereum Consolidate, NEXO Rallies

 

  • Bitcoin is still hovering just below USD 22,000.
  • Ethereum stayed just above USD 1,500, XRP remained below USD 0.350.
  • NEXO is the best performer today.

Bitcoin price declined below the USD 22,000 support zone but remained above the USD 21,500 support zone. It is currently (13:23 UTC) consolidating near USD 21,900 and is down almost 3% in a day and up 5% in a week.

Similarly, most major altcoins are trading above key support zones. ETH stayed above USD 1,500 while XRP struggled below the USD 0.35 support. ADA is showing bearish signs below the USD 0.50 zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a clear move below USD 22,500, bitcoin price extended its losses. However, the bulls are active and the price is still well above the USD 21,500 support zone. On the upside, an immediate resistance is near the USD 22,280 level. The next major resistance could be USD 22,500, above which the price could start a fresh increase.

On the downside, an initial support is near the USD 21,650 level. The main breakdown support is near the USD 21,500 zone, below which the price could face an increase in selling interest.

Ethereum price

Ethereum price started a downside correction below the USD 1,550 support zone. ETH even tested the USD 1,500 support, where the bulls took a stand. The price is now trading near USD 1,530 and is down 3% in a day and up 13% in a week. On the upside, an immediate hurdle is USD 1,550. The next major resistance is at USD 1,600, above which the price could gain bullish momentum.

On the downside, the USD 1,520 level is a short-term support. The next major support is near USD 1,500, below which the price might accelerate lower.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is down 6% and trading below the USD 0.50 support. If the bears remain in action, the price could decline towards the USD 0.465 level.

BNB settled below the USD 260 level and spiked toward the USD 255 level. The main support is near the USD 250 level, below which there is a risk of a move toward the USD 235 level.

Solana (SOL) extended losses below the USD 40 support zone and spiked below USD 39. It is now consolidating losses and might still revisit USD 40. The next major resistance is near USD 42.

DOGE remained well bid above the USD 0.0620 level and is now hovering near USD 0.0650. The price must clear the USD 0.0700 resistance level to start a fresh increase. If not, the price might retest the USD 0.062 level.

XRP price settled below the USD 0.35 support zone. If there are additional losses, the price might drop toward the USD 0.32 support zone in the near term.

Other altcoins market today

Many altcoins are in the red zone, including DOT, MATIC, AVAX, SHIB, TRX, ETC, NEAR, LEO, ATOM, FLOW, and ICP. Meanwhile, NEXO jumped 8% in a day and surpassed USD 0.73, becoming the best performer among the top 100 cryptoassets by market capitalization today, and increasing its weekly gains to 31%.

To sum up, bitcoin price is consolidating near USD 22,000. BTC might still start a fresh increase unless there is a strong move below the USD 21,500 support zone.

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