MARKET WATCH EARLY 01JULY: Bitcoin and Ethereum Trim Gains After Strong Jump, AR and AMP are the best performers.

Bitcoin tested the USD 18,800 support zone, where the bulls emerged and pushed the price above USD 20,500 before going lower again. BTC is currently (05:45 UTC) trading near USD 20,000 and is still down 3% in a day and almost 5% in a week. Similarly, most major altcoins recovered losses but are also trimming their gains. ETH tested the USD 1,000 zone and climbed above USD 1,080 before dropping again. XRP recovered and climbed above the key USD 0.32 level. ADA is moving lower toward the USD 0.45 level again.
Bitcoin price

After a close below USD 20,000, BTC gained bearish momentum and it even spiked below the USD 18,800 level, but the downsides were limited. A base was formed near USD 18,650 and the price started a strong recovery wave. It climbed back above the USD 20,000 pivot level and tested USD 20,500 before dropping sharply below USD 20,000 again.

On the downside, an initial support is near the USD 19,500 level. The next major support is near the USD 19,200 zone, below which the price could revisit USD 18,800.

Image from Tradingview on 01July2022
Ethereum price

ETH remained stable near the USD 1,000 support. A base was formed and ETH started a recovery wave above the USD 1,050 level, tested USD 1,100, but dived to USD 1,050 again. ETH is down 4% in a day and over 5% in a week.

If there is no upside break, the price might dip below USD 1,050. The next major support is near USD 1,000, below which the price could take a hit.

AR and AMP Rally

 AR and AMP are the best performers among the top 100 cryptoassets by market capitalization today. AR jumped 12% and surpassed USD 10, while AMP rallied 18% and moved above USD 0.010. However, both tokens are also correcting their gains. 

Other Altcoins Market Today

Cardano( ADA) spiked below the USD 0.45 level and tested USD 0.435. There was a recovery wave and the price is now above USD 0.45, but the bears are pushing the price lower again.

BNB remained above the USD 205 level before rallying above the USD 225 level. However, BNB dropped alongside other coins and is now struggling to hold the USD 220 level.

 Solana( SOL) was showing positive signs above the USD 33.50 level but failed to settle above the USD 35 level to continue higher in the near term. SOL is moving lower towards USD 33.50 again.

DOGE found support near the USD 0.0620 level and is now trading above USD 0.065 after it moved above the USD 0.0660 level earlier today. DOGE dropped almost 6% in a day and trimmed its weekly gains to less than 5%.

XRP price traded close to the USD 0.30 support level before the bulls emerged. The price is now back above USD 0.32 but is struggling to stay above this level. 

In Conclusion, in our view, Bitcoin price failed to settle above the USD 20,000 pivot level after a rally and might test the USD 19,500 level again
CRYPTO TRADING SECRET TEAM

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