Bitcoin and cryptocurrencies opened the week with a significant rise in their price . And one of the best performers was Ethereum (ETH) , which managed to overcome the resistance of $ 1,400 that it had for several weeks now.
The cryptocurrency, considered the second most important in the market due to the large number of practical applications that its network has , was established at over $1,400 , and was close to $1,500 today.
This represents a positive variation of 8.4% in the last 24 hours , while on a weekly level it is already 27% up -the best performance of the 10 cryptocurrencies with the highest market volume-.
HOW BITCOIN OPENED TODAY
The opening of Bitcoin is the main reason why the rises that are being registered in the last few hours attract attention. And it is that it represents a significant increase since the fall due to the Luna/Terra crisis that has been suffered for a few weeks.
#BTC still remains below the 200-week MA resistance
Until that level breaks, it’s technically premature to assume this is now a sustained relief rally$BTC #Crypto #Bitcoin
— Rekt Capital (@rektcapital) July 18, 2022
As explained by the Whalemap platform , which specializes in following the movement of the cryptocurrency, it is currently the ” best time to buy Bitcoin ” if current yields are taken into account.
Prime time for #Bitcoin
👀
Bounce from whale supports at ~$21k and we are ready to 🚀 pic.twitter.com/x8hcmcgUw0
— whalemap (@whale_map) July 18, 2022
For his part, analyst Rekt Capital assured that it is still too early to “assume that this is now a sustained relief rally.” ” BTC is still below the resistance of the 200-week MA, ” the specialist said.
#BTC still remains below the 200-week MA resistance
Until that level breaks, it’s technically premature to assume this is now a sustained relief rally$BTC #Crypto #Bitcoin
— Rekt Capital (@rektcapital) July 18, 2022
HOW IS THE REST OF THE MARKET
As for the rest of the market, the ten cryptocurrencies with the highest volume are in the green with positive price variations ranging from 2% to 8% up in the last 24 hours.
The only positive case is that of Cardano (ADA) , which reported a rise of 7.5% in the last 24 hours to leave its price at $0.41 . As for the rest of the quotes, the prices varied as follows:
- Binance Coin (BNB) : $259 (2.7% up)
- Ripple (XRP) : $0.36 (2.6% up)
- Solana (SOL) : $41 (4.7% up)
- Dogecoin (DOGE) .: $0.06 (2.9% up) .
On a weekly basis, all cryptos are in the green. BNB is up 11%, XRP is up 10%, DOGE is up 2%, ADA is up 8%, and SOL is up 18% from its price a week ago.