11 Aug 2022 · 2 min read

Bitcoin and Ethereum Extend Gains, LDO and CEL Outperform

 

  • Bitcoin price moved above USD 24,500.
  • Ethereum broke the USD 1,900 level, XRP is facing hurdles near USD 0.385.
  • LDO and CEL are the best performers today.

Bitcoin price started a fresh increase above the USD 23,500 resistance and settled above the USD 24,000 level. It is currently (12:20 PM UTC) trading just above USD 24,500 and is up almost 7% in a day and over 7% in a week.

Similarly, most major altcoins are eyeing further gains. ETH might climb further above USD 1,900 and might test the USD 2,000 resistance. XRP could gain pace if it clears USD 0.385. ADA is facing resistance near USD 0.55.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a close above USD 23,500, bitcoin price accelerated higher and moved above USD 24,500. If the bulls remain in action, the price may rise towards the USD 25,000 resistance. The next main resistance is near the USD 25,500 level, above which the price might rise towards USD 26,200.

On the downside, an initial support is at USD 24,200. The next major support is near the USD 24,000 zone, below which the price might test the USD 23,500 support zone. 

Ethereum price

Ethereum price is showing positive signs above the USD 1,850 level and is now attempting a close above the USD 1,900 resistance. A successful close above this level could open the doors for a move towards the USD 2,000 resistance. The next key resistance is near the USD 2,050 level, above which the price might test USD 2,120.

On the downside, an initial support is near the USD 1,850 level. The next major support is near the USD 1,800 zone. Any more losses could send the price to USD 1,700. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) climbed above the USD 0.535 resistance. It is now facing a strong resistance near the USD 0.55 level, above which the price could rise towards USD 0.60.

BNB is facing resistance near the USD 332 and USD 335 levels. A close above the USD 335 level might set the pace for more gains. In this case, the price may perhaps rise towards the USD 350 level.

Solana (SOL) gained almost 11%, and there was a move above the USD 44.00 level. The next major resistance is near the USD 45 level, above which the price could rise towards the USD 46.20 resistance.

DOGE is trading above the USD 0.0700 support level. The bulls are now facing resistance near the USD 0.0725 level, above which the price could test the USD 0.0750 resistance.

XRP price is struggling to gain pace above the USD 0.385 and USD 0.388 resistance levels. The next major resistance is near USD 0.40, above which the price might start a stronger increase.

Other altcoins market today

Many altcoins are in the green zone, including DOT, MATIC, UNI, LINK, NEAR, LTC, FTT, CRO, ATOM, and RUNE. Meanwhile, LDO and CEL jumped 19% and 30% in a day, surpassing USD 2.75 and USD 2.40, respectively, and becoming the best performers among the top 100 coins today. LDO is also up 7% in a week, while CEL skyrocketed 109%.

Overall, bitcoin price is showing positive signs above the USD 24,000 resistance. If BTC climbs above USD 25,000, there could be a stronger increase in the near term.

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