Bitcoin Tests USD 22K, Ethereum Inches Higher, Altcoins Rally

July 19, 2022 World Blockchain

Bitcoin price was able to start a more robust increase above the USD 21,200 level and cleared the key USD 22,000 resistance zone. BTC is currently (11:52 UTC) trimming gains near USD 22,100 and is up more than 3% in a day and 6% in a week.

Similarly, most major altcoins are moving higher. ETH gained 9% and neared the USD 1,500 level. XRP is moving higher and might test the USD 0.40 resistance. ADA could accelerate if it clears the USD 0.50 resistance. After a close above the USD 21,200 level, bitcoin price started a steady increase. The bulls pushed the price to almost the USD 22,400 level before BTC corrected lower. The price is facing resistance near the USD 22,500, while the next major resistance could be USD 22,800, above which the price could rise towards USD 23,500.

On the downside, an initial support is near the USD 21,800 level. The next major support is near the USD 21,500 zone, below which the price could start a stronger correction.