Top Crypto Prices on July 19: Bitcoin Price touches $22,000, Ethereum above $1500, NEAR, Gala & ETC Top Gainers

Continuing its winning streak, the crypto market managed to gain in value for yet another day, now bringing the total crypto market cap over $1.01 trillion, or 3.5% since yesterday, as of writing this article. Now it must be noted that the market has finally properly breached above the trillion dollar mark after almost a month loitering below that level.

Another major positive sign to support this breach over the trillion dollar level is that the recovery was backed up by healthy volumes. The total crypto market volume over the last 24 hours is $109.97 billion, which makes a 76.94% increase over yesterday, according to CoinMarketCap.

DeFi volumes also saw a huge spike in the same timeframe. The total volume in DeFi is currently $9.03 billion, 8.21% of the total crypto market 24-hour volume. The volume of all stable coins is now $99.42 billion, which is 90.41% of the total crypto market 24-hour volume.

Check out latest Bitcoin INR Price , Chart, and Data.

So, pretty much in line with the broader market, major coins all across the board saw healthy levels of recovery. Bitcoin rallied 3% over the past 24 hours to touch $21,900 levels while Ethereum jumped up another 8% to cross the $1500 level. Now this is significant, since these are levels that had proved to be heavy supply zones that had resulted in eventual losses but, it seems things are going to be different this time.

Check out latest Ethereum INR Price , Chart, and Data.

Along with these flagship coins, a large bunch of other altcoins recorded some impressive gains too. Continuing its massive run from yesterday, Ethereum Classic which rallied yet another 16.8% as of writing this, trading at about $24.9. Along with them, Near Protocol’s NEAR and metaverse token Gala managed to secure the top two spots, up about 19% and 17% respectively. Even SAND, RUNE, Curve DAO, MATIC, ApeCoin, Loopring, Decentraland and Fantom were some of the other tokens that recorded 12%+ gains over the past 24 hours.

Overall, the broader market base has been successful in keeping the bullish momentum up and a strong recovery seems to be on the horizon going forward. One way to infer this is from the chart below, where you can see a drop in Bitcoin’s dominance in the total crypto market cap, suggesting other coins are gaining at a faster pace than Bitcoin, and thus biting into the king coin’s dominance.

Read more: Top Penny Cryptos 2022

CRYPTO MARKET TODAY AT A GLANCE

TOP CRYPTO NEWS TODAY

1. MATIC RALLIES AHEAD OF zkEVM ANNOUNCEMENT

Just days after its announcement of its partnership with Disney in its 2022 edition of the Accelerator Program, Polygon has announced that it is going to launch a new product, expected to be called the zkEVM. This would be another major step for Polygon in its vision to build a blockchain network on top of Ethereum that solves all the scalability issues that Ethereum is plagued with.

✅ EVM-equivalent solution for frictionless experience for Devs and Users.

✅ Highly Performant zk-proofs.

✅ Ethereum security.

Coming soon.👀 pic.twitter.com/l94hAiubiq

— Polygon (@0xPolygon) July 13, 2022

2. WHALES RETURNING TO ETHEREUM NETWORK?

In a recent report, on-chain analytics firm Sentiment reported that a total of 131 new whales were added to the Ethereum network in the recent weeks, alongside the recovery in prices this month. There has been an increase in the number of addresses in the range of 1,000 to 100,000 ETH. Amid the increase in the number of large holders, the Ethereum network also faced an increase in small holders as the number of addresses holding slightly more than 1 ETH reached an ATH of 1,557,255.

Additional Read: Ethereum Merge Release Date

3. ‘OTHERSIDE’ UNVEILING EVENT SENDS APECOIN RALLYING

Ever since the demo release of the Yuga Labs’ Metaverse world, Otherside, its native token, ApeCoin (APE) has been on a rallying frenzy. The Bored Ape Yacht Club creator shared a demo version of Otherside over the weekend, inviting thousands of the game’s NFT holders to take a first look at its Metaverse.

Additional Read: 1.7 Million Users on Celsuis Network Give Up Legal Rights to their Crypto

GLOBAL CRYPTO MARKET OVERVIEW

Total Crypto Market Cap | Source: Tradingview

So after yesterday, the global crypto market rallied another 3.5% touch touch the $1.01 trillion mark before falling back down again. But the difference is very marginal and the trillion dollar mark can be achieved again. However, from a technical standpoint, the market cap has managed to sustain above the $960 billion mark, which had been a strict supply zone twice in the past.

Now, the market has managed to absorb all the supply pressures in the zone and managed to rise well above it to touch the trillion dollar mark. Coincidentally, the valuation has managed to sustain above the 50-day moving average for two days in a row now, suggesting the maintenance of a short term trend reversal. However to see a major change in broader trend, the 200-day moving average needs to be breached – which is still very far away. For the market cap to reach $1.5 trillion, it would need to break through several hurdles along the way.

But for the time being, the upward move can be considered to be strong. The Relative Strength Index, currently trading just shy of 60, is still at a reasonable level and there is still some space before it reaches the overbought zone. The overbought zone would warrant some easing of the rally with some profit booking before resuming its rally.

BITCOIN PRICE TODAY

BTC/USD | Source: Tradingview

Bitcoin’s hand in leading the crypto market recovery, that began early last week is still going on strong. The king coin has now managed to sustain above the $21.9k-22k level and is a very small distance away from the 50-day moving average (cyan blue line on the chart). At the current rate, Bitcoin can most likely breach and sustain above it by the end of this week itself. Once that happens, a short term trend reversal for Bitcoin would be underway and short positions would start exiting their positions, thus giving way to further upside strength.

But any upward rally would be met with stiff resistance at the $28k-32k zone. Bitcoin can be expected to spend some time within that zone to absorb all the selling pressures before resuming its upward journey

Additional Read: Bitcoin Price Prediction Weekly

TOP CRYPTO PRICES TODAY, 19TH JULY, 2022:

Additional Read: Ethereum Classic Price Prediction

TOP LOSERS

CRYPTO MARKET: THE WEEK AHEAD

So, concluding from the points made above, the week ahead can be expected to deliver even better returns than last week. This is due to the fact that Bitcoin has managed to break out of a critical resistance levels and thus has some additional trigger that will push prices further up. Along with that, this week we are seeing many major altcoins recording significant rallies and hence with a broad base support from these coins, markets may tend to move up with greater strength.

Prices as of 19th July, 2022

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