01 Aug 2022 · 2 min read

Bitcoin and Ethereum Consolidate Gains, FIL Rallies


  • Bitcoin price is consolidating below the USD 24,000 resistance.
  • Ethereum is struggling below USD 1,720, XRP tested the key USD 0.40 resistance.
  • FIL is the best performer today.

Bitcoin price gained pace above the USD 24,000 resistance. However, BTC failed to test the USD 25,000 level and is currently (04:06 UTC) consolidating gains near USD 23,350. BTC is down almost 2% in a day and up over 3% in a week. 

Similarly, most major altcoins are correcting lower. ETH struggled to stay above USD 1,750 and corrected below USD 1,700. XRP failed to clear the USD 0.40 resistance zone. ADA might attempt another move towards the USD 0.55 resistance.

Total market capitalization

Source: coincodex.com

Bitcoin price

After a failed attempt above USD 24,500, bitcoin price started a downside correction and traded below USD 23,500. On the downside, an initial support is near the USD 23,200 level. The next major support is near the USD 22,500 zone, below which the price might revisit USD 22,000.

On the upside, an immediate hurdle is at USD 23,650. The next major resistance could be USD 24,250, above which the price could attempt a move towards USD 25,000.

Ethereum price

Ethereum price made another attempt to clear the USD 1,750 resistance zone. However, ETH failed to gain pace and started a downside correction below USD 1,700. The price is now trading near the USD 1,690 level and is almost unchanged in a day and up over 5% in a week. On the downside, an initial support is near the USD 1,650 level. The next major support is near the USD 1,620 zone, below which the price might drop to USD 1,550.

On the upside, the price might struggle near USD 1,720. The next key resistance is near the USD 1,750 level, above which the price might climb to a new multi-week high.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) gained pace above the USD 0.52 resistance zone. It even attempted a move towards the USD 0.55, but the bulls failed to push the price higher. It is now consolidating near USD 0.52.

BNB climbed above the USD 288 resistance level. It even spiked towards the USD 300 resistance level, where the bears emerged. It is now moving in a range near USD 285.

Solana (SOL) surged above the USD 42 resistance. It even spiked above USD 45 before there was a downside correction. On the downside, the bulls might remain active near USD 40.

DOGE started a downside correction below the USD 0.0700 support. If there are more losses, the price may drop towards the USD 0.065 support zone.

XRP price gained pace above the USD 0.35 resistance zone. It even traded close to the USD 0.40 resistance before correcting lower. If the bulls remain in action, they might attempt a move above USD 0.40.

Other altcoins market today

A few altcoins are in the green zone, including DOT, SHIB, FIL, ICP, APE, HBAR, AAVE, BTT, MIOTA, WAVES, and STX. Out of these, FIL rallied 34%, surpassing the USD 11 level and increasing its weekly gains to 93%. It’s the best performer among the top 100 cryptoassets by market capitalization today and in a week.

Overall, bitcoin price is correcting gains and trading below USD 24,000. If BTC slides below USD 23,000, it could even revisit the USD 22,000 support.


Find the best price to buy/sell cryptocurrency: