Crypto Markets July 20th: Despite a decline, BTC is still the top performing cryptocurrency

Jul 20, 2021

Cryptocurrency market July 20, according to cryptonew: Bitcoin price is following a bearish path below the $ 32,000 pivot level. BTC even broke the important support area of ​​$ 30,000. BTC price (04:23 UTC) is moving down and could even test the USD 28,000 support in the short term.

However, BTC is currently the top performing major cryptocurrency as almost all of the top 100 cryptocurrencies are below.

ETH is down 8% and even broke the USD 1,750 support area. XRP fell 10% and even tested the USD 0.520 support area.

Cryptocurrency Market July 20th 20

July 20th cryptocurrency market: Bitcoin price

For the past three sessions, Bitcoin price has dropped below the support levels of $ 32,000 and $ 31,000. BTC even broke the USD 30,000 support to move further into the bearish zone. The price is currently showing signs of decline and could test the $ 28,000 support. The next big support for the bulls is near the $ 25,000 mark.

Immediate resistance to the upside is near the $ 30,200 mark. The first major resistance is currently forming at $ 31,000, above which a pullback to $ 32,000 is possible.

“The Bitcoin network is currently selling $ 5.3 billion per day, compared to $ 15.5 billion in daily volume, which was at its peak in 2021. This shows that the demand for relatively low value payments continues to be sustained. From the number of transactions paid out, one advantage cryptanalysis firm Glassnode says is that the majority appear to be coins that are realizing losses. “

Reportedly, BTC could hit $ 66,000 by the end of the year and surpass $ 400,000 by the end of 2030, according to the average price prediction of 42 industry players polled by a comparison platform. In terms of how much BTC will fall this cycle before the price begins to rise, Finder noted that the panel expects BTC to fall as low as $ 25,112, which is in line with the median forecast. Comments from 23 experts answered this question.

Cryptocurrency Market July 20th: Ethereum Price

Ethereum price also followed the same path, extending the decline below the $ 1,850 support. ETH has even broken the $ 1,800 mark and is approaching the $ 1,700 mark. Further losses could lead the price towards USD 1,650 in the short term.

If the rally continues, the price could encounter resistance near the $ 1,800 mark. The first major resistance to a steady rebound is now near the $ 1,850 mark.

Cryptocurrency market July 20: ADA, LTC, DOGE and XRP prices Giá

Cardano (ADA) is down 10% and even broke the USD 1.10 support. ADA is currently testing $ 1.05. The next big support is near the $ 1.00 level. If the bears break through $ 1.00, a sharp drop towards $ 0.88 is possible in the short term.

Litecoin (LTC) is down more than 10% to break the $ 112 support. LTC is currently testing the $ 105 support. The main support is near the $ 100 mark. Fall below the USD 100 support may push the price towards USD 92.

Dogecoin (DOGE) extended its decline below the USD 0.180 support. It even broke the USD 0.165 support and is now showing bearish signs. If there is a break below $ 0.150, the price can test the $ 0.120 level.

XRP price accelerated losses below the $ 0.55 support. It even climbed below $ 0.520. It looks like the price may test $ 0.50 soon. If there are other downsides, the bears can try to test $ 0.42 in the near future.

Cryptocurrency Market July 20th: Another Altcoin Market

Many altcoins are down more than 10%, including XEM, FLOW, MDX, STX, KCS, ENJ, DCR, KSM, MANA, RUNE, TFUEL, SC, MATIC, DOT, ZIL and COMP. Of those, XEM is down nearly 25% and is trading below 0.12.

Overall, Bitcoin price is gaining downward momentum below $ 30,500 and $ 30,000. If BTC drops below $ 30,000, the price could drop to $ 25,000 in the short term.

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Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.

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