Bitcoin and Ethereum correct gains, Altcoins show bearish signs

by Arthur · July 25, 2022

Bitcoin price moved below USD 22,000.
Ethereum struggles near USD 1500, XRP fell below USD 0.35 support.
SOL and DOGE are down over 4%.

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 trading (04:09 UTC) near USD 21,900 and is down over 2% in a day and still up 5% in a week.

Similarly, most major altcoins have fallen. ETH peaked near USD 1,665 and fell below USD 1,550. XRP traded below the USD 0.35 support. ADA is also trading below the USD 0.50 zone.

Total market value

Table of Contents

Bitcoin price

After another surge, the bitcoin price faced sellers near the $23,000 zone. BTC failed to extend its gains and started another 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 may 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.

Ethereum price

Ethereum price climbed higher above the USD 1,600 level and rose above USD 1,650. However, there was no upside continuation and the price fell below the USD 1,550 support and is now down almost 3% on the day and up 13% on the week. The next major support is near USD 1,500, below which the price may retest the USD 1,450 support zone.

On the upside, the price could meet sellers near $1,550. The next major resistance is at USD 1,600, above which the price could start a new rally.

ADA, BNB, SOL, DOGE and XRP price

Cardano (ADA) failed to hold above the USD 0.52 level. It is moving lower and is trading below USD 0.50. The price may fall 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 fall more aggressively towards the USD 235 level.

Solana (SOL) declined and settled below the USD 40 support zone. SOL is down 4% on the 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 is trading below the $0.0665 support. It seems the bears are now targeting a test of $0.0620. The next major support is at $0.0600.

XRP price is falling below the 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.

Other altcoins market today

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

Overall, the bitcoin price is falling and trading below the USD 22,000 level. If BTC slips below the $21,500 support, it may fall towards the $20,500 support zone.

_____