2021-07-22 05:37:00

Bitcoin, Ethereum and Altcoin Bulls Gain Strength

Bitcoin price formed a strong support base above USD 30,000. As a result, BTC started a steady increase and it broke the USD 32,000 resistance. It even spiked above USD 32,500 and it is currently (04:31 UTC) correcting gains.

Similarly, most major altcoins are showing positive signs. ETH gained pace and it even spiked above the USD 2,000 resistance zone. XRP is up almost 5% and it even broke the USD 0.550 resistance zone.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

After forming a base above USD 30,000, bitcoin price gained bullish momentum. BTC broke the USD 31,000 and USD 32,000 resistance levels. It even spiked above USD 32,500, but there was no proper close. The price is now correcting gains and trading below USD 32,000. The first key support is near USD 31,500, below which it could test USD 31,200.
An initial resistance on the upside is near the USD 32,500 level. A close above USD 32,500 could set the pace for a larger increase in the near term.

Ethereum price

Ethereum price also started a decent increase, similar to bitcoin. ETH broke the USD 1,850 and USD 1,900 resistance levels. ETH even spiked above USD 2,000 and it is now consolidating gains. If there is a close above USD 2,000, the price might accelerate higher in the near term.
If there is a fresh decline, the price might test the USD 1,920 support. The first key support is now forming near the USD 1,900 level.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) gained 6% and it broke the USD 1.15 resistance level. However, ADA is still facing resistance near the USD 1.20 level. A close above this level is needed for a sustained upward move in the near term. On the downside, the USD 1.12 level is a decent support.
Litecoin (LTC) settled above the USD 112 and USD 115 resistance levels. It is now showing positive signs and it could continue to rise above USD 120. The next major resistance is near USD 125, above which the price might test USD 132.
Dogecoin (DOGE) surged above the USD 0.180 and USD 0.195 resistance levels. It even spiked above USD 0.200 before correcting lower again. To move into a positive zone, the price must settle above USD 0.205 and USD 0.212. In this case, the price might rise towards the USD 0.250 level.
XRP price gained pace after it broke the USD 0.535 and USD 0.550 resistance levels. The price is now showing positive signs above USD 0.550. An immediate resistance is near USD 0.580, above which the price might test the USD 0.600 level.

Other altcoins market today

Many altcoins gained over 10%, including AXS, TEL, FLOW, MATIC, STX, SUSHI, AAVE, LUNA, SNX, OKB, THETA, ICP, HNT, UNI, and CEL. Out of these, AXS rallied over 30% and it broke the USD 22 level.

Overall, bitcoin price is showing positive signs above the USD 31,200 level. If BTC settles above USD 32,000 and USD 32,500, there could be more upsides in the coming sessions.
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Bitcoin, Ethereum and Altcoin Bulls Gain Strength 102

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