08 Jul 2022 · 2 min read

Bitcoin Tests USD 22K, Ethereum Accelerates, XRP Clears Hurdle, MATIC and AAVE Rally

 

  • Bitcoin price gained 8% and surpassed USD 22,000.
  • Ethereum climbed above USD 1,250, XRP broke the USD 0.35 resistance.
  • MATIC rallied 12%, and AAVE gained 16%.

Bitcoin price started a stronger increase above the USD 20,500 resistance zone and even climbed above the USD 22,000 level. It is currently (04:57 UTC) trading near USD 22,100 and is up 8% in a day and 13% in a week.

Similarly, most major altcoins started a decent increase. ETH was able to clear the USD 1,200 and USD 1,250 resistance levels. XRP surpassed the key USD 0.35 resistance zone. ADA climbed above USD 0.48 and traded close to USD 0.50.

Total market capitalization

Source: Coincodex

Bitcoin price

After a clear move above the USD 20,500 level, bitcoin price started a steady increase. BTC tested the USD 22,300 level, where it faced selling interest and moved to USD 22,100. The next major support is near the USD 21,500 zone, below which the price could decline toward the USD 21,200 level. 

On the upside, the price is facing resistance near the USD 22,350 level. The next major resistance is near USD 22,500, above which the price could rise to USD 23,000. 

Ethereum price

Ethereum price gained pace above the USD 1,180 resistance zone, cleared the USD 1,250 level, and neared USD 1,260. ETH is now up 7% in a day and 19% in a week. The next major resistance is near USD 1,275, above which the price could rise to USD 1,320.

If there is a downside correction, the price might test USD 1,200. The next major support is near USD 1,180, below which the price could revisit the USD 1,120 support zone.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) started a steady increase above the USD 0.465 level. It cleared the USD 0.48 resistance and traded close to USD 0.50. A close above USD 0.50 could start a stronger increase.

BNB was able to clear the USD 242 resistance zone. The next major resistance is near USD 250, above which the price might rise towards the USD 265 level in the near term.

Solana (SOL) is up over 4% and trading above the USD 38 resistance zone. The next major resistance is near the USD 40, above which the price could rise towards the USD 42 level.

DOGE settled above the USD 0.0700 resistance zone. It is now testing the USD 0.072 resistance zone, above which the price may perhaps rise towards USD 0.075. The next resistance is near the USD 0.080 level.

XRP price gained pace for a move above the USD 0.335 level. It even cleared the USD 0.35 resistance, opening the doors for more gains. The next key resistance might be USD 0.40. XRP is now up almost 8% in a day and a week.

Other altcoins market today

Many altcoins are up over 5%, including DOT, SHIB, AVAX, AAVE, MATIC, UNI, LTC, FTT, CRO, LINK, ETC, BCH, VET, and FLOW. Out of these, MATIC and AAVE are the best performers among the top 100 cryptoassets by market capitalization today. MATIC gained 12% and surpassed the USD 0.58 level, increasing its weekly gains to 25%, while AAVE jumped 16%, moved above USD 73, and increased its weekly gains to almost 30%.

Overall, bitcoin price gained pace for a move above the USD 22,000 level. BTC could dip in the short-term, but there are many buy zones forming near USD 21,500 and USD 21,200.

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