Thursday, July 25, 2024

Bitcoin and Ethereum Rise a Percentage Point, but the Downtrend Remains In Place; Altcoins Rally.

BTC incurred losses during this past weekend and dropped below $20,000. It even reached a low of 17,500 USD before the appearance of the bulls. At present, it is trading close to $20,050.

Likewise, most altcoins are trying to make an upside correction. Ether is up by 14 percent and is trading close to the $1,100 level. Meanwhile, XRP has consolidated close to $0.300. Additionally, ADA is trading below $0.50 resistance.

Price of Bitcoin

The price of Bitcoin saw a steep decline after a love below the level of 20,000 USD. It reached the $17,500 zone prior to the bulls taking a stand. Bitcoin’s price is correcting higher now and trading close to $20,000. The positive thing is the 1st major resistance is close to the $20,500 level.

Meanwhile, the major weekly resistance is close to the $21,200 level. However, above this level, the price may see a steady rise. On the other hand, the initial support is close to the $18,500 zone. However, below this, its price might witness another drop.

Price of Ethereum

The price of ETH reached below the $1,000 level while trading close to $920. Ethereum is now trying to correct its losses and is trading at more than $1,050. Its price faces resistance close to the $1,120 level. However, the subsequent major resistance is close to $1,150. Above this, its price could increase to the $1,250 level. The crypto is still down about 26 percent in a week.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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