Crypto Technical Analysis

Crypto Technical Analysis Early20JUL22: Bitcoin Gains Bullish Momentum While Ethereum Consolidates, FLOW Rallies

Crypto Technical Analysis 20Jul: Bitcoin price remained well bid above the USD 22,000 zone and was able to spike above the USD 23,000 resistance. It is currently (07:08 UTC) trading near USD 23,729 and is up 7% in a day and 21% in a week. Similarly, most major altcoins are trading in a positive zone. ETH is now consolidating gains above the USD 1,500 level. XRP seems to be aiming for a move towards the USD 0.40 resistance. ADA is gaining pace above the USD 0.52 resistance zone.
Crypto Technical Analysis 20Jul: Bitcoin Gains Bullish Momentum

After a downside correction, BTC started a fresh increase above the USD 22,500 resistance. BTC even spiked above USD 23,600 before there was a minor decline. On the downside, an initial support is near the USD 23,000 level. The next major support is near the USD 22,650 zone, below which the price could correct further lower.

An immediate resistance is near the USD 23,500 level. The next major resistance could be USD 24,000, above which the price could rise towards the USD 25,000 level.

Crypto Technical Analysis 20Jul: Ethereum Consolidates

ETH remained strong above the USD 1,500 resistance. ETH is now consolidating near the USD 1,560 level and is up 4% in a day and 50% in a week. On the downside, an initial support is near USD 1,500. The next major support is near USD 1,450, below which the price could start a substantial downside correction. 

Crypto Technical Analysis
SOURCE: Tradingview

On the upside, the price could face sellers near USD 1,600. The next major resistance is at USD 1,640, above which the price could start a stronger increase.

Crypto Technical Analysis 20Jul: FLOW Rally

FLOW gained 23% and broke the USD 2 resistance zone, increasing its weekly gains to 44%.

Crypto Technical Analysis 20Jul: Most Altcoins Have Positive Singals

Cardano( ADA) is gaining pace above the USD 0.512 resistance. It is up over 10% and trading above USD 0.52. If the bulls remain in action, the price could rise towards the USD 0.55 resistance. ADA is also up 25% in a week.

BNB is rising towards the USD 272 resistance. The next major hurdle is near the USD 275 level, above which the price could rise towards the USD 288 resistance.

Solana( SOL) is consolidating near the USD 45 zone. The next key resistance is near the USD 48 level, above which the price might climb higher towards USD 50.

DOGE cleared the USD 0.068 resistance zone. It is now attempting a move above the USD 0.0700 barrier. If the bulls succeed, the price could rise towards the USD 0.0750 level.

XRP is moving higher towards the USD 0.388 resistance. The next barrier is USD 0.40, above which the bulls might aim for a move towards the USD 0.50 level in the near term.

Many altcoins are also showing positive signs, including DOT, MATIC, AVAX, SHIB, TRX, LTC, LINK, NEAR, XLM, ATOM, XMR…etc.

FINAL THOUGHT:  Overall, bitcoin price is showing positive signs above the USD 23,000 level. If BTC clears the USD 23,500 resistance, it could even surpass the USD 24,000 zone in the coming sessions.

CRYPTO TRADING SECRET TEAM

Leave a Comment

Your email address will not be published.

Scroll to Top