Bitcoin
BTC$29 106.25

-2.42%

Ethereum
ETH$1 948.76

-4.39%

Tether
USDT$0.998927

0.01%

USD Coin
USDC$1.000000

-0.02%

Binance Coin
BNB$295.00

-1.85%

XRP
XRP$0.409415

-4.38%

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 62.4% 82 $29 106.25 -2.42% 5.31% $554 291 732 800 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 60.4% 82 $1 948.76 -4.39% 2.87% $235 479 609 902 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $0.998927 0.01% 0.45% $74 133 574 134 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000000 -0.02% -0.02% $52 342 870 112 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 60.4% 84 $295.00 -1.85% 22.08% $48 166 486 706 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 67.2% 71 $0.409415 -4.38% 13.13% $19 792 398 575 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 92% 1 $0.999245 -0.27% -0.42% $18 398 603 846 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 65.2% 79 $0.514791 -8.42% 17.73% $17 375 510 992 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 63.2% 84 $50.79 -8.30% 15.69% $17 139 777 776 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 62% 87 $0.084252 -5.17% 11.85% $11 177 788 099 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 60.4% 78 $9.61 -8.87% 19.27% $9 486 356 576 DOT 7 days price change
12 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 63.6% 82 $29 092.16 -2.40% 5.58% $8 144 434 333 WBTC 7 days price change
13 Avalanche (AVAX) AVAX Avalanche predictions 61.6% 82 $29.59 -11.64% 6.16% $7 963 113 848 AVAX 7 days price change
14 TRON (TRX) TRX TRON predictions 70.8% 55 $0.071826 -0.02% -1.60% $7 007 431 948 TRX 7 days price change
15 Dai (DAI) DAI Dai predictions 93.6% 1 $1.000124 0.04% 0% $6 501 256 168 DAI 7 days price change

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