Bitcoin Hovers as BTC Price Is Stuck Below $24,276 High – July 29, 2022
For the second time, Bitcoin bulls are retesting the $24,000 resistance zone as BTC/USD Price is stuck below the $24,276 high. On July 20, buyers failed to keep the BTC price above the $24,000 resistance zone as it declined to the low of $20,724. Today, buyers are revisiting the recent high, can the bulls overcome the $24,000 resistance zone?
Bitcoin Price Statistics Data:
•Bitcoin price now – $23,797.63
•Bitcoin market cap – $454,242,750,588
•Bitcoin circulating supply – 19,106,875.00 BTC
•Bitcoin total supply – $499,249,498,937
•Bitcoin Coinmarketcap 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 has been hindered by the $24,000 resistance zone. Today, the uptrend reached the high of $24,444 but has retraced below the $24,000 support. The upward move is doubtful because 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 strong trending market, the overbought condition may not hold. The price will break the $24,000 resistance and rally to the high of $28,000. The bullish momentum will extend to the high of $30,000. Nevertheless, if Bitcoin turns from the overhead resistance, it will be compelled to a range-bound move between $20,724 and the $24,000 price levels.
Crypto ATM Market to Be Worth $472 Million by 2027
According to market research forecasts, the global cryptocurrency ATM market will be worth $472 million by 2027, because of developing markets and growing adoption. Presently, it is estimated
that the crypto ATM market is valued at $46.4 million and expects this value to increase to $472 million over five years. Crypto ATM service providers will benefit from the growth prospect in developing markets and the growing acceptance of cryptos across different industries. The cryptocurrency ATMs accounted for 88% of installations in the United States. The country saw some 641 crypto ATMs commissioned for use in the first 10 days of July 2022. Canada has the second-largest amount of crypto ATMs, making North America the most prolific adopter of the service.
Meanwhile, Bitcoin hovers above current support as BTC price is stuck below $24,276 high. The crypto’s price is fluctuating below the resistance level. Bitcoin is likely to decline as it is below the 80% range of the daily stochastic. It indicates that the market is in a bearish momentum.
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