Bitcoin
BTC$18 928.29

-1.09%

Ethereum
ETH$1 294.66

-3.51%

Tether
USDT$1.000070

0%

USD Coin
USDC$1.000014

0.01%

Binance Coin
BNB$274.74

-1.09%

XRP
XRP$0.500514

-0.70%

Bitcoin reclaims $30000 after hitting lowest level in a month


22 Jul 2021

#Bitcoin

After falling to its lowest level since June 22nd on Tuesday, the price of Bitcoin has rebounded back above $30,000, amid hopes that support around that level is firm enough to avoid a break lower. Technical chartists note that a “double-bottom” has formed where the price of Bitcoin has dropped to a similar level twice. In technical parlance, the charting pattern would show a potential change in the trend or momentum, which could lead to increased upside. The low, which has been touched twice, could act as support.

Nevertheless, Bitcoin is still not out of the woods yet, but the fact that Bitcoin has not collapsed on two breaches of $30,000 to the downside might suggest that the “capitulation” some were expecting is still a long way off and might never materialise.

“As we saw last month, a move below $30,000 doesn't guarantee we'll see large losses,” said Craig Erlam, Senior Market Analyst at OANDA. “Crypto bulls may even be encouraged by the apparent resilience so far, although the trend over the last couple of months doesn't look too favourable.”

Bitcoin trend

The world’s largest cryptocurrency has been trading in a range roughly between $30,000 and $40,000 for months, with a few ventures outside before settling into the long-term range. However, over the last month, Bitcoin has failed to make a firm break above $35,000.

Bitcoin remains over 50% below its all-time peak, hit in April this year. If Bitcoin can break above $31,000, the 21DMA around $32,800 could act as resistance, ahead of the 50DMA which resides around $34,500.

At 10:38BST, Bitcoin was trading around $30,900, up around 5% in the last 24 hours. Other major cryptocurrencies were also advancing. Ethereum gained 7.8% to around $1870, XRP was up 5.3% to $0.54 and Dogecoin was up 13% to $0.18.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 80.8% 26 $18 928.29 -1.09% -4.04% $362 675 162 554 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 72.8% 54 $1 294.66 -3.51% -5.75% $158 627 858 840 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000070 0% 0% $67 959 464 596 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000014 0.01% -0.01% $49 594 307 856 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 90.8% 15 $274.74 -1.09% 1.13% $44 325 985 527 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 61.6% 74 $0.500514 -0.70% 26.97% $24 950 009 051 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $1.000119 0% 0% $20 519 701 371 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 83.2% 32 $0.447321 -2.92% -3.50% $15 312 533 995 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 84.8% 28 $32.55 -3.85% 0.89% $11 545 262 081 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 95.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 85.6% 14 $0.061629 -4.48% 3.07% $8 176 334 390 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 78.8% 41 $6.22 -3.37% -7.84% $6 968 389 291 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 90.8% 1 $0.999457 -0.02% -0.02% $6 926 301 960 DAI 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 73.6% 55 $0.746252 -3.07% -5.23% $6 518 004 616 MATIC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 76.4% 42 $0.000011 -4.47% -2.59% $6 105 472 299 SHIB 7 days price change

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