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Bitcoin in the Danger Zone, as the Premier Cryptocurrency is Currently Stuck Below $21k




Bitcoin stuck below $21k as the digital asset continues to trade around $20k.

After surpassing $21k on June 27th, the premier cryptocurrency has not been able to reach the price mark again. Since June 27th Bitcoin’s average price is $19.9k, as the coin has lost its value by 4% in the meantime.

Trading currently at $20.1k Bitcoin is 1.4% during the past 24-hours. Notably, Bitcoin’s current price is almost the same as it was exactly a week ago. At the moment Bitcoin is above 4-hours 55 simple moving average.

It is rather obvious that Bitcoin is currently facing a strong resistance at $21k. Whereas, it seems to have been getting support at $19.7k and 19.3k.

Before Bitcoin makes any significant rally upwards it must first break above $21k. Otherwise, as long as Bitcoin remains below or around $20k further losses will be expected. As per the analyses in the coming house Bitcoin may test support at $19.3k, if breached next support will be at $18.6k. Bitcoin remaining $20k, is expected to go as low as $17.5k. Which will be the lowest price level in a long time.

On the upside, if the Bitcoin is able to break above $21k and sustains there for a while it may then test $22k and then $23k. A break above $23k will potentially take Bitcoin to $26k.

Thanks to the slight stability in the market, most of the major cryptocurrencies are green at the moment, with Solana emerging as the top gainer. The coin is up 4% in the day and 3% over the week. BNB has also performed well as it has gained value by 2% during the past 24-hours. Over the week, BNB is up by 7%.

In the week BNB is the second top gainer with Uniswap at first. The altcoin is up 10% in the meantime.

Gracie Perez is a part of RippleCoinNews team since we started. she holds a degree in Computer Sciences. From 2017, She has pivoted her career towards blockchain technology, with principal interest in writing Cryptocurrency news and different guides. She is also working with different online media outlets.

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