20 Jul 2022 · 2 min read

Bitcoin and Ethereum Target Additional Gains, DOGE Accelerates

 

  • Bitcoin price is eyeing the USD 24,000 level.
  • Ethereum is nearing USD 1,600 again, XRP might test USD 0.40.
  • DOGE gained over 9% and ADA is showing signs of more possible upsides.

Bitcoin price gained pace and was able to clear the USD 23,500 resistance and almost touch USD 23,800. It is currently (11:45 UTC) trading near USD 23,650 and is up almost 7% in a day and 22% in a week.

Similarly, most major altcoins are eyeing more upsides. ETH is back near USD 1,600 and could soon test the USD 1,650 resistance. XRP might soon rise towards the USD 0.40 resistance. ADA is eyeing a move towards the USD 0.55 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After forming a base above the USD 22,500 level, bitcoin price started a fresh increase and surpassed the USD 23,500 resistance. An immediate resistance is now near the USD 24,000 level. The next major resistance could be USD 24,200, above which the price might rise towards the USD 25,000 level.

On the downside, an initial support is near the USD 23,200 level. The next major support is near the USD 23,000 zone, below which the price could correct to USD 22,500.

Ethereum price

Ethereum price formed a support base above the USD 1,500 level. ETH started a fresh increase and was able to clear the USD 1,550 resistance and approach USD 1,600, possibly testing USD 1,650 next. ETH is now up 3% in a day and 53% in a week. The next major resistance is at USD 1,700, above which the price could start a move towards the USD 1,800 level.

On the downside, an initial support is near USD 1,550. The next major support is near USD 1,500, below which the price could correct lower towards USD 1,450.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is moving higher towards the USD 0.532 level. The main resistance is near the USD 0.55 zone, above which the price could rise towards the USD 0.60 level.

BNB is approaching the USD 272 resistance. The next major resistance is near the USD 275 level, above which the price could rise towards the USD 288 resistance.

Solana (SOL) is still consolidating near the USD 45 zone. If there is a fresh increase, the price may test the USD 48 resistance. The following key resistance is near the USD 50 level.

DOGE surged over 9% and cleared the USD 0.072 resistance zone. It is now attempting a move above the USD 0.0750 barrier, above which the price could rise towards the USD 0.0800 level. DOGE is also up 22% in a week.

XRP price is moving higher towards the USD 0.388 resistance. If the bulls remain in action, they might attempt a move towards the USD 0.40 level in the near term.

Other altcoins market today

Many altcoins are gaining strength, including DOT, AVAX, SHIB, CRO, LINK, BCH, FLOW, VET, APE, HBAR, HNT, and KCS. Of these, SHIB gained 8% and tested the USD 0.00001275 resistance zone.

To sum up, bitcoin price is aiming for a move above the USD 24,000 level. If BTC gains strength, it could rise towards the USD 25,000 level.

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