Crypto Technical Analysis

Crypto Technical Analysis Early18JUL22: Bitcoin Fluctuates Around USD 21K, Ethereum Tests USD 1.4K, MATIC and ETC Rally

Crypto Technical Analysis 18Jul:Bitcoin price settled above the USD 20,500 pivot level and managed to climb above the USD 21,000 level. It is currently (05:50 UTC) trading near USD 21,258 and is almost unchanged in a day and up 2% in a week. Similarly, most major altcoins are showing positive signs. ETH gained pace and even spiked above the USD 1,400 level. XRP is eyeing an increase towards the USD 0.40 resistance. ADA is consolidating above the USD 0.45 resistance zone.

Crypto Technical Analysis 18Jul: Bitcoin Fluctuates Around USD 21K

After forming a base above USD 20,500, BTC started a steady increase. It is now showing positive signs near USD 21,300, with an immediate hurdle near the USD 21,500 level. The next major resistance could be USD 22,000, above which the price could gain bullish momentum.

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

Crypto Technical Analysis 18Jul: Ethereum Tests USD 1.4K

ETH outperformed bitcoin with a strong move above the USD 1,250 resistance. ETH even spiked just above USD 1,400 and is now up almost 4% in a day and 20% in a week. The next major resistance is at USD 1,480, above which the price could test USD 1,500.

Crypto Technical Analysis
Source: Tradingview

On the downside, the price might find support near USD 1,350. The next major support is near USD 1,320, below which the price could visit the USD 1,250 support zone.

Crypto Technical Analysis 18Jul:  MATIC and ETC Rally

MATIC gained 8% and tested the USD 0.80 level, becoming the best performer among the top 25 cryptoassets by market capitalization. It’s also up 40% in a week. Meanwhile, ETC is the best performer among the top 100 coins today – it jumped 17% in a day, 42% in a week, and moved above USD 21.

Crypto Technical Analysis 18Jul: Other Altcoins are Moving Higher

Cardano( ADA) was able to settle above the USD 0.45 resistance. It is now facing resistance near the USD 0.48 level. A clear upside break above the USD 0.48 resistance might spark a sharper increase.

BNB was able to clear the USD 245 resistance and moved above the USD 250 resistance zone. The next major resistance is near the USD 265 level.

Solana( SOL) gained pace above the USD 38 level. It even settled above the USD 40 barrier and is showing positive signs. The next key resistance is near the USD 42 level.

DOGE is showing positive signs above the USD 0.062 support level. It seems to be struggling near the USD 0.065 resistance zone, above which the bulls might push the price towards USD 0.0700.

XRP Price was able to clear the USD 0.35 resistance. It is now consolidating gains and is facing an intermediate resistance near USD 0.388 on the way toward the USD 0.40 level.

Many altcoins are also moving higher, including DOT, MATIC, AVAX, LEO, UNI, LTC, FTT, NEAR, ATOM, BCH, ICP, and APE.

FINAL THOUGHT:  Overall, bitcoin price is moving higher above the USD 21,200 level. BTC could gain pace if there is a clear move above the USD 21,500 resistance zone.


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