The cryptocurrency prices after a major fall in June it again went up in July 2022 but the experts are still not predicting that the bull run has started now. Bitcoin climbs up to its utmost peak in just one month and now trading at around $22000. Furthermore, Ethereum is trading above $1500 levels.
There are market predictors who are saying that it is too early to decide the trend of cryptocurrency. Though the crypto tokens are up nowadays but still cannot be considered as the decider of the bull run market.
Moreover, there are several other cryptocurrencies that are trading higher today. Be it Polygon which gained more than 15%, Avalanche jumped 8% and Ethereum gained 9%.
If we look into the cryptocurrency market cap globally then in the last 24 hours the market gained by 3%. Therefore, the global market cap of cryptocurrency crosses the $1 trillion mark thereby including Bitcoin and Ethereum as outperformers.
Let’s move on to the technical side:
Bitcoin
The major resistance is $24000. We may see an upside rally if bitcoin breaches and sustain the level of $24000. On the contrary, we may witness downside levels between $18000—$17000.
A good buying opportunity arises only if the level goes above $24000.
Ethereum
Ethereum is looking good on the charts. Moreover, if you find any good correction till $1250 then it will be a good opportunity for traders to sit in a buying zone.
Furthermore, our positive view turns out to be negative only if the level closes below $880. We may witness upside targets in Ethereum till $2450.
Fresh downside panic may occur only if the level goes above $2450.
Be cautious traders. The next few weeks seem important for perfect levels.
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