Bitcoin, Ethereum and Altcoins Eye Additional Gains

  • 22 July 2021, Thursday, 14:00

Bitcoin price remained well bid above the USD 31,200 pivot level. BTC even settled above USD 32,000 and it is showing bullish signs. It is currently (13:39 UTC) gaining pace and it could climb above USD 32,500.

Similarly, most major altcoins are rising too. ETH is gaining pace, but a close above USD 2,000 is a must for more gains. XRP might rise steadily towards the USD 0.600 level.

Total market capitalization

Bitcoin price

After a proper close above USD 31,200, bitcoin price extended its recovery. BTC broke the USD 32,000 resistance level to move further into a bullish zone. The bulls are in control and it seems like the price might rise further above USD 32,500. Any more gains could set the pace for a stronger move towards USD 33,500. On the downside, an initial support is near the USD 31,500 level. The key support is now forming near the USD 31,200 level.

Ethereum price

Ethereum price is also showing positive signs above the USD 1,950 level. If ETH settles above USD 2,000, the bulls might gain traction. In this case, the price might accelerate higher towards the USD 2,050 and USD 2,080 levels. If there is a downside correction, the price could find bids near the USD 1,950 support. The first key support is now forming near the USD 1,920 level.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) is back in a positive zone above the USD 1.15 level. An immediate barrier is near the USD 1.20 level. A close above USD 1.20 level could open the doors for a steady increase. On the downside, the USD 1.15 level is a decent support. Litecoin (LTC) is approaching the USD 120 resistance zone. A close above USD 120 might set the pace for a move above USD 125. The next major resistance is near USD 132, above which the price might test USD 140. If there is a fresh decline, the price might test the USD 112 level. Dogecoin (DOGE) is consolidating below the USD 0.200 resistance zone. If the price settles above USD 0.200, the price could continue to rise. The next key resistance is near the USD 0.225 level. On the downside, the bulls might remain active near USD 0.172. XRP price settled above the USD 0.55 resistance level. It is now approaching the USD 0.580 resistance. The main resistance is still near USD 0.600, above which the price might accelerate higher towards the USD 0.620 level.

Other altcoins market today

Many altcoins gained over 8%, including AXS, FLOW, STX, SUSHI, WAVES, XLM, LUNA, RUNE, OKB, AAVE, MATIC, and THETA. Out of these, AXS rallied by 30% and it broke the USD 23.50 level.

To sum up, bitcoin price is back in a positive zone above the USD 32,000 level. If BTC continues higher above USD 32,500, the price might rise further towards USD 33,500. __

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