28 Jun 2022 · 3 min read

Bitcoin and Ethereum Relatively Muted, APE and BTT Rally

 

  • Bitcoin price is holding the key USD 20,000 support.
  • Ethereum is facing resistance near USD 1,250, XRP is consolidating near USD 0.35.
  • APE and BTT are the two best performers today.

After declining below the USD 21,000 level, BTC stayed above the USD 20,500 support zone and managed to surpass USD 21,000 again. It is currently (11:47 UTC) trading in a range near USD 21,000 and is down almost 2% in a day and up 2% in a week.

Similarly, most major altcoins are stuck above key supports. ETH is back above USD 1,200 but faces hurdles near USD 1,250. XRP is now trading just below the USD 0.35 pivot level. ADA is still at a risk of more losses unless it reclaims USD 0.50.

Total market capitalization

Source: tradingview.com

Bitcoin price

After another downside correction, bitcoin price traded below the USD 20,800 level. BTC even tested the USD 20,500 zone, where the bulls took a stand. On the upside, the price is facing resistance near the USD 21,200 zone. The next major resistance is now near USD 21,500, above which the price could start a steady increase.

On the downside, an initial support is near the USD 20,500 level. The next major support is near the USD 20,000 zone, below which there is a risk of a larger decline.

"As we approach the end of June, USD 2.5bn in open interest of BTC options expired last week bringing volatility across the asset class. All eyes will be on the next meeting of the Federal Reserve and with current indications pointing to a possible increase in the interest rate, it's likely that risk assets like cryptocurrency could continue to slide. Typically, crypto is the first to sell-off, followed by the wider global equities markets," Steve Gregory, CEO of the Currency.com exchange, said.

Ethereum price

Ethereum price traded below the USD 1,200 support zone. ETH found support near the USD 1,160 level and stayed above the USD 1,150 support. It is back above USD 1,200 and is facing a strong resistance near the USD 1,250 level. ETH is unchanged in a day and up 8% in a week. The next major resistance is near USD 1,280, above which the price could rise towards the USD 1,320 level.

On the downside, an initial support is at USD 1,160. The next major support is near USD 1,150, below which the price could gain bearish momentum. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) extended losses below the USD 0.48 level, but dips were limited. The price is now consolidating above USD 0.48 and might even revisit the USD 0.50 resistance.

BNB stayed above the USD 232 support zone. The price is moving higher towards the USD 242 resistance zone. Any more gains might send the price towards the USD 250 level.

Solana (SOL) spiked below the USD 37 level, but it stayed above the USD 36.20 support. If there is a fresh increase, the bears might remain active near the USD 40 resistance zone.

DOGE tested the USD 0.068 zone support and recovered above USD 0.070. An immediate resistance is near the USD 0.0720 level. Any more gains might call for a move towards the USD 0.0750 zone. DOGE is still the best performer among the top 10 coins by market capitalization in a week as it jumped 20%.

XRP price is still below the USD 0.35 support. If there are more losses, the price could revisit USD 0.32. On the upside, the bulls need to gain strength above USD 0.355 for a steady increase.

Other altcoins market today

Several altcoins are still down over 5%, including DOT, SHIB, AVAX, MATIC, UNI, NEAR, ATOM, ETC, SAND, ZEC, GRT, and STX. Meanwhile, APE and BTT jumped over 12% and surpassed the USD 5.40 and USD 0.0000010 levels, respectively, to become the best performers among the top 100 cryptoassets by market capitalization today. APE and BTT are also up around 20% in a week.

To sum up, bitcoin price stayed above the USD 20,000 support zone. If BTC climbs above USD 21,500, it could gain bullish momentum and rise towards USD 22,500.

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