Bitcoin soars as BTC price is stuck below $24,276 – July 29, 2022
For the second time, Bitcoin bulls retest the $24,000 resistance zone as BTC/USD The price is locked below the high of $24,276. On July 20, buyers failed to hold BTC price above the $24,000 resistance zone as it fell to lows of $20,724. Today buyers revisit the recent high, can the bulls overcome the $24,000 resistance zone?
Bitcoin price statistics:
• Current bitcoin price: $23,797.63
• Bitcoin market cap: $454,242,750,588
• Circulating Supply of Bitcoin – 19,106,875.00 BTC
• Total bitcoin supply: $499,249,498,937
• Coinmarketcap Bitcoin Ranking – #1
Resistance levels: $50,000, $55,000, $60,000
Support Levels: $25,000, $20,000, $15,000
Following the recent price rebound above the moving average lines, the uptrend was hampered by the $24,000 resistance zone. Today the uptrend reached the high of $24,444 but broke back below the $24,000 support. The upward move is doubtful as BTC/USD is trading in the overbought region of the market.
Sellers will emerge in the overbought region to push prices down. However, in a strongly trending market, the overbought condition may not hold. The price will break the resistance at $24,000 and rally to the high of $28,000. Bullish momentum will extend to the $30,000 high. Nonetheless, if Bitcoin turns away from overhead resistance, it will be forced into limited movement between $20,724 and the $24,000 price levels.
Crypto ATM Market Will Be Worth $472 Million By 2027
According to market research forecast, the global cryptocurrency ATM market will reach USD 472 million by 2027, owing to developing markets and growing adoption. Currently, it is estimated
that the crypto ATM market is valued at $46.4 million and expects that value to grow to $472 million over five years. Crypto ATM service providers will benefit from the growth prospects in developing markets and the growing acceptance of cryptos across different industries. Cryptocurrency ATMs accounted for 88% of installations in the United States. The country saw some 641 crypto ATMs go live in the first 10 days of July 2022. Canada has the second highest number of crypto ATMs, making North America the most prolific adopter of the service .
Meanwhile, Bitcoin is hovering above the current support as BTC price is stuck below $24,276. The crypto price is fluctuating below the resistance level. Bitcoin is likely to decline as it sits below the 80% range of the daily stochastic. This indicates that the market is in a bearish momentum.
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