MARKET WATCH EARLY 05JULY: BTC Returns Above USD 20K, ETH Rallies, CEL and GMT Keep Outperforming

Bitcoin price remained well bid above the USD 18,800 support zone and started a fresh recovery wave above the USD 20,000 resistance zone. It is currently (05:49 UTC) trading near USD 20,332 and is up 6% in a day and down 2% in a week. Similarly, most major altcoins gained pace and recovered some losses. ETH is up over 9% and is testing the USD 1,150 resistance. XRP is still stuck near the USD 0.325 zone. ADA is moving higher above the USD 0.45 level.
Bitcoin price

After a key rejection near USD 18,800, BTC price started a stronger recovery wave. BTC was able to climb above USD 20,400 but struggled to clear the USD 20,500 resistance zone. The price is now consolidating above the USD 20,000 level, with an immediate resistance near the USD 20,350 level. The next major resistance is now near USD 20,500, above which the price could rise towards USD 21,500.

On the downside, an initial support is near the USD 20,000 level. The next major support is near the USD 19,500 zone, below which the price could revisit USD 18,800.

Image from Tradingview on 05July2022
Ethereum price

ETH Price gained pace from the USD 1,000 support zone and is now testing the USD 1,150 resistance zone. The next major resistance is near USD 1,180, above which the price could rise towards USD 1,220. After jumping over 9%, ETH trimmed its weekly losses to less than 4%.

If there is a downside correction, the price might find support near USD 1,100. The next major support is near USD 1,060, below which the price could revisit USD 1,000.

CEL and GMT Keep Outperforming

CEL and GMT jumped 19%, becoming the best performers among the top 100 cryptoassets by market capitalization today. CEL reached USD 1.05 and increased its weekly gains to 38%, while GMT is trading near USD 0.95 and is still down 5% in a week.

Other Altcoins Market Today

Cardano( ADA) is still trading below the USD 0.48 and USD 0.50 resistance levels. It is consolidating above USD 0.45 and might attempt a fresh increase in the near term.

BNB is up 8% and there was a move above the USD 225 pivot level. The price is trading near the USD 232 level and could attempt to clear the USD 235 resistance zone.

Solana( SOL) surged above the USD 35 resistance zone. It gained almost 10% and now faces resistance near the USD 36.50 level. The next major resistance on the upside is at USD 38.

DOGE is gaining pace above the USD 0.068 resistance zone. The next key resistance is near USD 0.72, above which the price may perhaps rise towards USD 0.075.

XRP Price  is now consolidating near the USD 0.325 zone. An immediate resistance is near USD 0.332, above which the price could test the key USD 0.35 resistance zone.

Many altcoins are up over 5%, including SHIB, AVAX, MATIC, UNI, FTT, CRO, XLM, NEAR, ATOM, XMR, ALGO, FLOW, MANA, SAND, and APE.

In Conclusion, in our view, Bitcoin price  is showing positive signs above the USD 20,000 level. A clear move above the USD 20,500 resistance zone could set the pace for more upsides.
CRYPTO TRADING SECRET TEAM

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