06 Sep 2022 · 2 min read

Ethereum Breaks Higher While Bitcoin Struggles, ETC Rallies

  • Bitcoin price is still consolidating near USD 20,000.
  • Ethereum gained pace for a move above USD 1,600, XRP is eyeing a clear move above USD 0.335.
  • ETC rallied over 25%, and FLUX jumped nearly 15%.

Bitcoin price is still struggling to clear the key USD 20,500 resistance zone. BTC is currently (04:00 UTC) trading below the USD 20,000 pivot zone. A clear move above USD 20,000 and USD 20,200 might start a decent increase.

Besides, most major altcoins are attempting an upside break. ETH gained over 4% and there was a successful close above the USD 1,620 resistance. XRP is attempting an upside break above the USD 0.335 zone. ADA could rally if it settles above the USD 0.50 resistance.

Bitcoin price

Yesterday, bitcoin price made another attempt to gain pace above USD 20,200. However, BTC struggled to continue higher and remained below the USD 20,500 resistance zone. It is now consolidating below the USD 20,000 zone. On the downside, an initial support is near the USD 19,550 level. The next major support is still near the USD 19,500 zone, below which the price could gain bearish momentum.

On the upside, the bears are active near the USD 20,200 zone. The key breakout zone is still near the USD 20,500 level, above which the price might start a major upward move.

Ethereum price

Ethereum price formed a strong base and started a fresh bullish wave above the USD 1,600 resistance. ETH gained over 4% and there was a close above the USD 1,620 resistance. The price even spiked above USD 1,650 and tested USD 1,675. The next major resistance is near USD 1,700, above which the price may perhaps rise towards USD 1,800.

On the downside, an initial support is now near the USD 1,600 level. The next major support is USD 1,575, below which price could drop to USD 1,520.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) remained stable above the USD 0.465 support. The price is rising and approaching the USD 0.50 resistance. A close above USD 0.50 might start a steady increase.

BNB is holding the USD 272 support zone. The price is now rising and approaching the USD 280 zone. The first major resistance is near USD 288, above which the price could rise towards USD 300.

Solana (SOL) is trading above the USD 32.50 zone. An immediate resistance is near the USD 33.50 level. The first major resistance is near USD 35.00, above which the price could rise towards the USD 37 level.

DOGE is consolidating above the USD 0.062 level. If there is a fresh increase, the bears might be active near the USD 0.0650 level. Any more gains could send the price to USD 0.0680.

XRP price is again attempting a close above the USD 0.335 resistance zone. The next resistance is near USD 0.35, above which the price might start a strong increase.

Other altcoins market today

Many altcoins are gaining momentum, including AVAX, ETC, UNI, NEAR, BCH, EOS, AAVE, LDO, CRV, BTG, RVN, and FLUX. Out of these, ETC rallied over 25% and cleared the USD 40 level.

Overall, bitcoin price is still trading below the USD 20,500 resistance zone. If ETH continues to gain, BTC might be able to start a steady increase.

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Source: Cryptonews.com