• Market Cap: $975,268,195,210.03
  • 24h Vol: $45,169,312,935.24
  • BTC Dominance: 37.93%

Bitcoin and Ethereum Look for Direction, XMR and CHZ Outperform

Published: Monday, 11th July, 2022 - 14:04
  • Bitcoin is hovering near USD 20,500.
  • Ethereum is fluctuating around USD 1,150, XRP is struggling to move higher.
  • XMR and CHZ are the best performers today.

Bitcoin price settled below the USD 21,200 pivot level. BTC is currently (11:49 UTC) consolidating near the USD 20,500 level and is down almost 4% in a day and up over 6% in a week. 

Similarly, most major altcoins are showing bearish signs. ETH is struggling and might break the USD 1,120 support. XRP is stuck near the USD 0.32 zone. ADA might drop sharper if there is a move below the USD 0.45 support zone.

Total market capitalization
 

Source: Coincodex

Bitcoin price

After a close below the USD 21,200 level, bitcoin price extended losses and settled below the USD 21,000 level. The bulls are now struggling to keep the price above USD 20,500 and USD 20,400. The next major support is near the USD 20,000 zone, below which the price could revisit the key support at USD 19,500. Any more losses might send the price to USD 18,800.

On the upside, the price might face resistance near the USD 21,000 level. The next major resistance is now forming near USD 21,200, above which the price might rise steadily.

Ethereum price

Ethereum price settled below the USD 1,200 level to move into a bearish zone. ETH even traded just below the USD 1,150 support level and is down 3% in a day and up almost 7% in a week. The next major support is near USD 1,120, below which the price could gain bearish momentum and might even revisit the USD 1,050 level.

On the upside, the price might face resistance near USD 1,185. The next major resistance is at USD 1,200, above which the price could rise to USD 1,250.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is consolidating near the USD 0.45 support. A downside break and a close below USD 0.45 might spark a sharper decline. The next major support is near the USD 0.42 level.

BNB tested the USD 230 support zone. The next major support is near the USD 222 level, below which there is a risk of a move towards the USD 215 level. On the upside, the bears might remain active near USD 240.

Solana (SOL) is struggling to stay above the USD 35 level. If there is a break below the USD 35 level, the price might slide towards the USD 30 level. Conversely, it may perhaps recover to USD 37.50.

DOGE is down over 4% and trading below the USD 0.0665 level. It is also struggling to stay above the USD 0.065 level, below which it might dive to USD 0.0620.

XRP price is back in the same range near the USD 0.32 level. A close below USD 0.32 might send the price towards USD 0.30. Any more losses might call for a move towards USD 0.288.

Other altcoins market today

Many altcoins are in the red zone, including DOT, TRX, AVAX, LEO, MATIC, LTC, FTT, CRO, XLM, NEAR, ALGO, ETC, and BCH. Meanwhile, XMR and CHZ are the two best performers among the top 100 cryptoassets by market capitalization today, as they jumped over 5% in a day, surpassing USD 130 and USD 0.107, respectively. XMR is also up 12% in a week, while CHZ jumped 9%. 

To sum up, bitcoin price is struggling to recover losses above USD 21,000. If BTC settles below USD 20,000, there is a risk of a sharper drop.

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This post first appeared on: Crypto News

Author: Aayush Jindal
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