22 Jul 2022 · 2 min read

Bitcoin and Ethereum Inch Higher, MATIC Regains Strength

 

  • Bitcoin price stayed above the USD 22,500 support.
  • Ethereum recovered and almost tested USD 1,600, XRP is moving higher.
  • MATIC rallied 12%, while SNX, APE, and CRV outperform.

After extending its correction below USD 23,000, bitcoin managed to stay above the USD 22,500 support and moved higher again. It is currently (03:50 UTC) trading near USD 22,950 and is up almost 1% in a day and 12% in a week.

Similarly, most major altcoins are showing signs of a fresh increase. ETH climbed 5% and almost retested the USD 1,600 resistance zone. XRP stayed above the key USD 0.35 support. ADA is attempting an upside break above the USD 0.50 zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a downward move below USD 23,000, bitcoin price found support. BTC stayed above the key USD 22,500 zone. A base was formed and the price is now moving higher toward USD 23,000. An immediate resistance on the upside is near the USD 23,500 level. The next major resistance could be USD 24,000, above which the price could gain bullish momentum.

On the downside, an initial support is near the USD 22,800 level. The next major support is near the USD 22,500 zone, below which the price could face a strong selling interest.

Ethereum price

Ethereum price remained strong above the USD 1,450 level. ETH recovered losses and climbed above the USD 1,550 resistance zone. ETH is now up 5% in a day and 31% in a week. On the upside, the price could face sellers near USD 1,600. The next major resistance is at USD 1,625, above which the price could start another increase.

If there is no upside break, the price could revisit USD 1,550. The next major support is near USD 1,500, below which the price might retest the USD 1,450 support zone.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) managed to stay above the USD 0.465 level. It is recovering losses and approaching the USD 0.50 resistance. A close above the USD 0.50 zone could start a stronger increase in the coming sessions.

BNB tested the key USD 250 support zone. It is now rising and trading above USD 262. The next major resistance is near USD 272, above which the price may perhaps rise towards the USD 288 level.

Solana (SOL) spiked below the USD 40 support zone but downsides were limited. The price is now back above USD 42 and seems like the bulls are aiming for a move toward the USD 45 level.

DOGE is attempting a fresh increase above the USD 0.0700 barrier. If the bulls succeed, the price could even surpass the USD 0.072 level. The next major resistance is near the USD 0.075 level.

XRP price is holding the USD 0.35 support zone. It is moving higher towards the USD 0.375 level. The next major resistance is near USD 0.388, above which the bulls could clear the USD 0.40 barrier.

Other altcoins market today

Many altcoins are showing positive signs, including MATIC, AVAX, LEO, UNI, ETC, NEAR, ATOM, APE, SAND, and MANA. MATIC jumped 12% in a day, surpassed USD 0.90, and increased its weekly gains to 28%. Meanwhile, SNX, APE, and CRV are the best performers among the top 100 cryptoassets today, as they jumped 17%-24% in a day.

Overall, bitcoin price is attempting a fresh increase above USD 23,200. If BTC surpasses the USD 23,500 resistance zone, it could gain bullish momentum.

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