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BTC, ETH and XRP Price Analysis for July 20

Wed, 07/20/2022 - 15:24
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Denys Serhiichuk
Have top coins reached local peaks yet?
BTC, ETH and XRP Price Analysis for July 20
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls keep dominating on the market as most of the coins are in the green zone. Solana (SOL) is the only exception from the rule, going down by 0.75%.

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the biggest gainer from the list today, rising by 7.83% over the last 24 hours.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) has touched the $24,000 mark, which confirms buyers' power. If bulls can hold the gained initiative until the end of the day, one can expect a further rise to the resistance level at $25,400 soon.

Related
BTC, ETH and XRP Price Analysis for July 18

Thus, the rising trading volume supports such a scenario.

Bitcoin is trading at $23,962 at press time.

ETH/USD

Ethereum (ETH) has followed the growth of BTC, rising by 4%.

ETH/USD chart by TradingView

Bulls have seized the initiative after yesterday's bearish candle. At the moment, one should pay close attention to the $1,600 mark. If nothing crucial changes by the end of the day, the ongoing rise might lead to the test of the mirror level at $1,700 shortly.

Ethereum is trading at $1,605 at press time.

XRP/USD

XRP is growing the least as it has risen by only 3.40% since yesterday.

XRP/USD chart by TradingView

XRP is looking less bullish than other coins as the rate has made a false breakout of the $0.38 mark. Until the price is below it, there are chances to see more of a fall than an upward move. Respectively, sideways trading in the range of $0.36-$0.38 is the more likely scenario for the next few days.

XRP is trading at $0.3754 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.