Crypto Technical Analysis

Crypto Technical Analysis Early19JUL22: Bitcoin and Ethereum Correct Gains After Nearing New Highs, ETC and NEAR Rally

Crypto Technical Analysis 19Jul:Bitcoin price settled above the USD 21,500 resistance zone, started a steady increase and was able to spike above the USD 22,800 level before retreating. It is currently (05:25 UTC) trading near USD 22,054 and is still up almost 3% in a day and 10% in a week. Similarly, most major altcoins are trimming their gains. ETH remained strong and briefly rallied above the USD 1,600 level. XRP is still stuck near the USD 0.35 level, while ADA almost tested the USD 0.50 resistance zone.
Crypto Technical Analysis 19Jul: Bitcoin Corrects Gains After Nearing New Highs

After a steady move above the USD 21,500 level, BTC extended its gains. BTC was able to break the USD 22,500 level and spike above USD 22,800, before moving towards USD 21,900 again. The next major support is near the USD 21,500 zone, below which the price could steadily decline.

An immediate resistance is near the USD 22,500 level. The next major resistance could be USD 22,800, above which the price could gain bullish momentum and rise to USD 23,500.

Crypto Technical Analysis 19Jul: Ethereum Correct Gains After Nearing New Highs

ETH again outperformed bitcoin with a strong move above the USD 1,500 resistance. ETH even spiked above USD 1,600 before a downside correction towards USD 1,500, where it might find support. The next major support is near USD 1,450, below which the price could visit the USD 1,350 support zone. ETH is still up over 7% in a day and 39% in a week. 

Crypto Technical Analysis
SOURCE: Tradingview

On the upside, the bears might remain active near the USD 1,600 level. The next major resistance is at USD 1,640, above which the price could test USD 1,700.

Crypto Technical Analysis 19Jul: ETC and NEAR Rally

ETC and NEAR are the two best performers among the top 100 cryptoassets by market capitalization today, as they jumped 16% and 18% in a day, respectively. ETC trades near USD 25 and is also up 77% in a week, while NEAR neared USD 4.40 and is up 37%. 

Crypto Technical Analysis 19Jul: Most Altcoins are Moving Higher

Cardano( ADA) failed to settle above the USD 0.48 resistance after it didn’t succeed near the USD 0.50 barrier. ADA moved below USD 0.48 again and trimmed its daily gains to less than 4%.

BNB was able to spike above the USD 265 resistance before correcting lower. It is now consolidating gains near the USD 260 level, with a major support near the USD 250 level.

Solana( SOL) gained almost 6% and broke the USD 45 resistance, before moving lower again. The next key resistance is near the USD 48 level, above which the price could test USD 50.

DOGE struggling to gain pace for a move above the USD 0.068 resistance zone and is trading near USD 0.066. A clear move above the USD 0.0680 zone could send the price towards the USD 0.0700 barrier.

XRP consolidating above the USD 0.35 resistance. If the bulls remain in action, there are chances of a move towards the next barrier at USD 0.40.

Many altcoins are moving higher, including DOT, MATIC, AVAX, UNI, ETC, LINK, NEAR, XLM, ATOM, SAND, and APE.

FINAL THOUGHT:  Overall, bitcoin price is fluctuating sharply but is still above the USD 21,500 level. If BTC settles above the USD 22,500 resistance, the price could gain pace in the near term.


Leave a Comment

Your email address will not be published.

Scroll to Top