Crypto Technical Analysis

Crypto Technical Analysis Early25JUL: Bitcoin and Ethereum Correct Gains, Altcoins Show Bearish Signs

Crypto Technical Analysis 25Jul: Bitcoin price started another decline after it failed to settle above the USD 23,000 zone. BTC corrected gains and traded below the USD 22,000 level. It is currently (06:01 UTC) trading near USD 21,954 and is down over 2% in a day and still up 5% in a week. Similarly, most major altcoins have declined. ETH topped near USD 1,665 and declined below USD 1,550. XRP traded below the USD 0.35 support. ADA is also trading below the USD 0.50 zone.
Crypto Technical Analysis 25Jul: Bitcoin Corrects Gain

After a fresh increase, BTC faced sellers near the USD 23,000 zone. BTC failed to extend gains and started a fresh decline below USD 22,000. On the downside, an initial support is near the USD 21,650 level. The next major support is near the USD 21,500 zone, below which the price could accelerate lower.

On the upside, an immediate resistance is near the USD 22,500 level. The next major resistance could be USD 23,000, above which the price could gain bullish momentum.

Crypto Technical Analysis 25Jul: Ethereum also Corrects Gain

ETH climbed higher above the USD 1,600 level and spiked above USD 1,650. However, there was no upside continuation and the price declined below the USD 1,550 support and is now down almost 3% in a day and up 13% in a week. The next major support is near USD 1,500, below which the price might retest the USD 1,450 support zone.

Crypto Technical Analysis
Source: Tradingview

On the upside, the price could face sellers near USD 1,550. The next major resistance is at USD 1,600, above which the price could start another increase. 

Crypto Technical Analysis 25Jul: Altcoins Show Bearish Signs

Cardano( ADA) failed to stay above the USD 0.52 level. It is moving lower and trading below USD 0.50. The price could decline towards the USD 0.465 level if there are more losses.

BNB is approaching the USD 250 support zone. If there is a downside break below the USD 250 support, the price may decline more aggressively towards the USD 235 level.

Solana( SOL) declined and settled below the USD 40 support zone. SOL is down 4% in a day and is approaching the USD 38 level. If there are more losses, the price may drop to USD 35.

DOGE is down 5% and trading below the USD 0.0665 support. It seems like the bears are now aiming for a test of USD 0.0620. The next major support is at USD 0.0600.

XRP is declining below USD 0.35 support zone. If the bears remain in action, there is a risk of a move towards the USD 0.32 support zone in the near term.

Many altcoins are showing bearish signs, including DOT, MATIC, AVAX, SHIB, TRX, ETC, NEAR, ATOM, APE, FLOW, and MANA. Out of these, DOT might decline below the USD 7 support.

FINAL THOUGHT: Overall, bitcoin price is declining and trading below the USD 22,000 level. If BTC slides below the USD 21,500 support, it may drop towards the USD 20,500 support zone.


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