18 Jul 2022 · 2 min read

Bitcoin Tests USD 22K, Ethereum Inches Higher, Altcoins Rally

 

  • Bitcoin surpassed USD 22,000.
  • Ethereum neared USD 1,500, XRP is rising towards USD 0.38.
  • Several altcoins are up in double digits.

Bitcoin price was able to start a more robust increase above the USD 21,200 level and cleared the key USD 22,000 resistance zone. BTC is currently (11:52 UTC) trimming gains near USD 22,100 and is up more than 3% in a day and 6% in a week.

Similarly, most major altcoins are moving higher. ETH gained 9% and neared the USD 1,500 level. XRP is moving higher and might test the USD 0.40 resistance. ADA could accelerate if it clears the USD 0.50 resistance.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a close above the USD 21,200 level, bitcoin price started a steady increase. The bulls pushed the price to almost the USD 22,400 level before BTC corrected lower. The price is facing resistance near the USD 22,500, while the next major resistance could be USD 22,800, above which the price could rise towards USD 23,500.

On the downside, an initial support is near the USD 21,800 level. The next major support is near the USD 21,500 zone, below which the price could start a stronger correction.

Ethereum price

Ethereum price remained in a strong uptrend above the USD 1,350 level and managed to near the USD 1,500 level.  ETH is currently consolidating gains near USD 1,480 and is up 9% in a day and 26% in a week. The next major resistance is at USD 1,550, above which the price could test USD 1,650.

On the downside, the price might find support near USD 1,450. The next major support is near USD 1,400, below which the price could test the USD 1,320 support zone.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is gaining pace above the USD 0.45 resistance. It is up almost 8% and is trading above the USD 0.48 resistance. The next major resistance is near USD 0.50. A clear upside break above the USD 0.50 resistance might start a stronger rally.

BNB is rising above the USD 250 resistance. The next major resistance is near the USD 265 level, above which the price could start a move towards the USD 280 resistance or even USD 288.

Solana (SOL) gained 5% and settled above the USD 40 level. The price even briefly spiked above the USD 42 level. If the bulls remain in action, the price might rise towards the USD 45 level.

DOGE is moving above the USD 0.065 support level and is facing resistance near the USD 0.068 zone. The main barrier is near USD 0.0700, above which the price could start a stronger increase.

XRP price settled above the USD 0.35 resistance. It is now approaching the USD 0.38 resistance, above which the price could test the USD 0.400 level.

Other altcoins market today

Many altcoins are in the green zone, including DOT, MATIC, AVAX, UNI, LTC, FTT, CRO, NEAR, ATOM, BCH, XMR, and ICP. Meanwhile, CVX, ETC, MATIC, TFUEL, and APE jumped 15%-22%.

To sum up, bitcoin price cleared the USD 22,000 resistance. If BTC clears USD 22,500, it could start a steady increase in the coming sessions.

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