Bitcoin test on USD 22,000 fails, Ethereum consolidation, MATIC inventory gains

by James · July 8, 2022

Bitcoin price corrected lower below USD 22,000.
Ethereum consolidates close to USD 1200, XRP failed to stay above USD 0.35.
MATIC holds gains and CRO sees a new increase.

The Bitcoin price started a big increase over the resistance zone of USD 21,500. BTC even tested the resistance of USD 22,500 before there was a downward correction. It is currently trading (11:49 UTC) around USD 21,600 and may attempt a new increase.

Similarly, most large altcoins look at several benefits. ETH trimmed gains and is now consolidating close to $ 1200. XRP rose above $ 0.355 before correcting lower. ADA corrects lower against the support of USD 0.45.

Total market value

Table of Contents

Bitcoin price

After an increase, the price of bitcoin to sellers was close to 20,500 USD. BTC started a downside correction and traded below USD 22,000. It even rose below USD 21,500, but remained stable above USD 21,200. The next major support is close to the USD 20,900 zone, below which the price may fall towards USD 20,500. support level.

On the upside, the price meets resistance close to the USD 22,000 level. The next major resistance is close to USD 22,500, above which the price may start a new increase.

Ethereum price

The Ethereum price also followed a similar pattern and started a downward correction from USD 1,275. ETH had fallen below the support levels of USD 1,220 and USD 1,200, before returning to USD 1,225. The next major support is close to USD 1180, below which the price may test the USD 1120 support zone again.

On the upside, the bulls may face resistance near USD 1,240. The next major resistance is close to USD 1,275, above which the price may start a new increase.

ADA, BNB, SOL, DOGE and XRP price

Cardano (ADA) attempted an increase above the $ 0.480 level. However, the bears were active below the USD 0.50 level. The price now corrects gains and can even test the $ 0.45 level.

BNB managed to clear the resistance zone of USD 245. It failed to test the USD 250 level and corrected lower. It is now trading at the USD 240 level, although it may test the USD 35 level.

Solana (SOL) rose to the USD 40 level, where it met sellers. It now trims gains and trades just above $ 37. The next big support is close to the $ 35.50 level.

DOGE rose above the resistance zone of USD 0.0720. It failed to test USD 0.075 and corrected lower. It was a movement below the USD 0.070 level and the price may test USD 0.068.

The XRP price failed to stay above the $ 0.35 resistance level. It corrects gains and trades close to $ 0.34. If the bears remain in action, the price may return to the support of USD 0.32.

Other altcoins market today

Many altcoins are still in the green zone, including SHIB, FTT, MATIC, LTC, CRO, XLM, BCH, ICP, EOS, AAVE and BTT. Out of these, the CRO can increase its momentum if it clears the USD 0.125 level.

To summarize, the bitcoin price corrects gains and trades below $ 22,000. If BTC stays above $ 21,000, it could start a new rise above $ 22,000 in the short term.

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