Bitcoin has turned sharply upward and has broken above the overhead resistance, signalling a resumption of its upward movement toward $70,000. After a mild pullback over the past two days, Bitcoin rebounded on July 19. Data from Farside Investors shows that U.S.-based spot Bitcoin exchange-traded funds (ETFs) continued to see inflows on July 17 and 18, indicating cautious yet bullish market sentiment.
Onchain analytics firm Santiment reported on X that the number of Bitcoin wallet addresses holding a non-zero balance had dropped by 672,510 over the past month, a mass liquidation typically followed by a rebound. Trading firm QCP Capital speculated that Bitcoin’s resilience, despite equity market weakness and the potential Mt. Gox supply, suggests that the market may have moved past its major concerns.
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Crypto market data daily view. Source: Coin360
If Bitcoin continues its recovery, it could push altcoins higher. Bitcoin’s sharp recovery hit a stall at $66,128 on July 17, but the bears could not sink the price below the 50-day simple moving average (SMA) of $63,806, indicating strong buying interest. The 20-day SMA has started to rise, and the relative strength index (RSI) has moved into positive territory, signalling a bullish trend. If the price stays above $66,128, a rally to the psychological level of $70,000 is likely. Conversely, if the price drops below the 50-day SMA, it could fall to the 20-day SMA.
Ether (ETH) Price Analysis
Ether rose above the 50-day SMA ($3,441) on July 19, indicating that bulls are aiming to extend the recovery. If the price stays above the 50-day SMA, the ETH/USDT pair could rally to $3,730. A move above this level could target $4,000. However, if the price breaks below $3,346, the pair could drop to the 20-day SMA ($3,235). A failure to hold this level could lead to a retest of the support at $2,850.
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ETH/USDT daily chart. Source: TradingView
BNB Price Analysis
BNB surged above the 50-day SMA ($586) on July 19, showing that bulls are in control. If the price stays above the 50-day SMA, the BNB/USDT pair could reach $635. A break above this level could lead to a rally to $722. However, a sharp decline below the 20-day SMA ($545) could result in a range-bound movement between $460 and $635.
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BNB/USDT daily chart. Source: TradingView
Solana (SOL) Price Analysis
Solana has broken above the downtrend line of the descending triangle pattern, indicating strong demand. The 20-day SMA ($145) is turning up, and the RSI is in positive territory, suggesting a bullish edge. A break and close above the downtrend line could lead to a rise to $180 and then $210. Conversely, a plunge below the moving averages could keep the pair within the triangle for longer.
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SOL/USDT daily chart. Source: TradingView
XRP Price Analysis
XRP turned down sharply from $0.64 on July 18, indicating strong bearish defence. The XRP/USDT pair fell below $0.57 but showed aggressive buying at lower levels. The moving averages are forming a bullish crossover, and the RSI is positive, suggesting an upward path. If the price remains above $0.57, a move above $0.64 is possible. However, a drop below $0.51 could lead to a fall to the 20-day SMA ($0.49).
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XRP/USDT daily chart. Source: TradingView
Dogecoin (DOGE) Price Analysis
Dogecoin’s bulls defended the 20-day SMA ($0.11) but could not push the price above the 50-day SMA ($0.13). A successful move above the 50-day SMA could lead to $0.15 and then $0.18, where bears may mount a strong defence. A failure to break above the 50-day SMA could increase the likelihood of a drop below the 20-day SMA to $0.10.
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DOGE/USDT daily chart. Source: TradingView
Toncoin (TON) Price Analysis
Toncoin has been consolidating between $6.77 and $8.29. After slipping below the 50-day SMA ($7.34) on July 16, the price has not dropped to the range support at $6.77, indicating limited selling pressure. A rise above the moving averages could push the pair to $7.72, and a break above this level could lead to $8.29.
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TON/USDT daily chart. Source: TradingView
Cardano (ADA) Price Analysis
Cardano bounced off the moving averages on July 19, showing strong demand at lower levels. If the price moves above $0.46, the ADA/USDT pair could rise to $0.52 and then $0.57. Bears need to push the price below the moving averages to prevent this upward move, which could lead to a drop to $0.35 and then to the support line of the channel.

ADA/USDT daily chart. Source: TradingView
In summary, Bitcoin’s sharp recovery and potential move to $70,000 could lift altcoins higher. Each top cryptocurrency has unique support and resistance levels to watch, with varying bullish and bearish scenarios possible.