MARKET WATCH EARLY 06JULY: BTC and ETH Fluctuate, CEL Keeps Dropping

Bitcoin price stayed above the key USD 18,800 support zone and settled above the USD 19,500 level, but it is struggling to settle above the USD 20,500 zone. It is currently (06:33 UTC) trading near USD 19,924 and is down 2% in a day. Similarly, most major altcoins remain supported. ETH is fluctuating above USD 1,100 while XRP is still near the USD 0.325 pivot zone. ADA could rise if there is a clear move above USD 0.48.
Bitcoin price

Recently, BTC Price made another attempt to clear the USD 20,500 resistance zone. BTC spiked towards USD 20,750, but there was no upside continuation. The price trimmed gains and declined below USD 20,000. It is now consolidating, with an initial support near the USD 19,500 level. The next major support is near the USD 18,800 zone, below which the price could decline heavily.

On the upside, an immediate resistance is near the USD 20,350 level. The next major resistance is still near USD 20,500, above which the price could rise steadily.

Image from Tradingview on 06July2022
Ethereum price

ETH settled above the USD 1,100 zone. ETH is now consolidating in a range near the USD 1,100 level and is down almost 3% in a day and 2% in a week. On the upside, an initial barrier is near the USD 1,150 level. The next major resistance is near USD 1,180, above which the price could start a decent increase.

If there is a downside break and a close below USD 1,100, the price might test USD 1,060. The next major support is near USD 1,000, below which the price could accelerate lower.

CEL Keeps Dropping

CEL is the worst performer today as it keeps trimming its strong weekly gains and is now down 11% in a day, trading near USD 0.92. The price is still up 31% in a week.

Other Altcoins Market Today

Cardano( ADA) is still consolidating near the USD 0.45 level. An immediate resistance is near USD 0.465. The first major resistance is near USD 0.48, above which the price could rise towards USD 0.50.

BNB is struggling to clear the USD 235 resistance zone. If there is a clear move above the USD 235 level, the price could rise towards USD 250. If not, it might decline and revisit USD 220.

Solan( SOL) is consolidating near the USD 35 resistance zone. The next major resistance is near the USD 36.50, above which the price could rise towards the USD 40 level.

DOGE is showing positive signs above the USD 0.0650 level. It is facing resistance near the USD 0.0680 level. The next key resistance is near USD 0.070, above which the price may perhaps rise towards USD 0.075.

XRP is still consolidating near the USD 0.320 zone. An immediate resistance is near USD 0.335, above which the price could attempt a move above the key USD 0.35 resistance zone.

Many altcoins are in the red zone, including DOT, SHIB, MATIC, LTC, FTT, NEAR, ALGO, APE, HBAR, AXS, RUNE, FTM, and GMT.

In Conclusion, in our view, Bitcoin price  is still fluctuating near the USD 20,000 level. A close above the USD 20,500 level could set the pace for a move towards the USD 22,000 level.
CRYPTO TRADING SECRET TEAM

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