Bitcoin and Ethereum Still Range-Bound, AVAX and SAND Accelerate

by James · July 6, 2022

Bitcoin returned over USD 20,000.
Ethereum is moving towards USD 1,150, XRP is still close to USD 0.32.
AVAX and SAND are among the best athletes today.

The Bitcoin price is still consolidating above the support zone of USD 19,500 and is currently trading (11:47 UTC) close to USD 20,100, with a major hurdle close to USD 20,500. BTC increased by over 2% in one day, erasing its weekly loss.

Similarly, most large altcoins look at an upside breach. ETH is moving higher towards USD 1,150, while XRP may increase the pace of a movement above the USD 0.325 pivot zone. The ADA is stuck near the support zone of USD 0.45.

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Bitcoin price

In the last two sessions, the bitcoin price has traded in a positive zone above USD 19,500 and is now moving higher above the USD 20,000 level. On the upside, immediate resistance is close to the $ 20,350 level. The main resistance to outbreaks is still close to USD 20,500, above which the price may start a stronger increase.

If not, there is a risk of a move towards the support level of USD 19,500. The next major support is close to the USD 18,800 zone, below which the price may start a stronger decline.

Ethereum price

The Ethereum price shows positive signs above the USD 1100 zone. ETH moves higher and trades above $ 1,130. If the bulls remain in action, the price could remove the resistance of $ 1,150. The next major resistance is close to USD 1,180, above which the price may start a stronger increase. ETH is up almost 1% in one day and is almost unchanged in one week.

If there is a downward correction, the price may test USD 1110. The next major support is close to USD 1060, below which the price may return to the USD 1000 support.

ADA, BNB, SOL, DOGE and XRP price

Cardano (ADA) is stuck close to the USD 0.45 level. Immediate resistance is close to USD 0.465. The main eruption resistance is now forming close to USD 0.48, above which the price may start a stronger increase.

BNB is up 4% and trades above the resistance zone of USD 235. It seems that the bulls are aiming for a move above the USD 240 level. In this case, the price may rise towards the USD 250 level.

Solana (SOL) is up almost 6% and trades above the resistance zone of USD 35. The next major resistance is close to USD 36.50. Any additional winnings may require a test of the USD 40 level.

DOGE is moving higher above the USD 0.0660 level. Immediate resistance is close to the USD 0.0680 level. The next key resistance is close to USD 0.070, above which the price may gain bullish momentum.

The XRP price is trading in an area close to the USD 0.320 zone. If there is a stronger increase above the $ 0.335 resistance, the price may remove the key $ 0.35 resistance zone.

Other altcoins market today

A few altcoins are rising, including DOT, LEO, AVAX, MATIC, UNI, MANA, SAND, ICP, MKR, XEC, RUNE and GMT. Of these, AVAX rose 8% and passed USD 18, while SAND rose 11% and reached USD 1.25. AVAX is also up almost 3% in one week, while SAND jumped 17%.

To sum up, the bitcoin price is still trading in an area above the support of USD 19 500. If BTC closes above USD 20 500, there may be a steady increase in the short term.

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