30 Aug 2021 · 2 min read

Bitcoin and Ethereum Hold Key Uptrend Support, XRP Consolidates

Bitcoin price is trading above the USD 46,200 and USD 47,000 support levels. Ethereum is well above USD 3,050, XRP is consolidating above USD 1.10. SOL rallied 9% and surpassed the USD 100 level.

Bitcoin price is holding the USD 47,200 and USD 47,000 support levels. If BTC breaks the USD 49,000 resistance, it could start a stronger increase. It is currently (12:24 UTC) consolidating near the USD 48,000 level, with an immediate hurdle near USD 48,500.

Similarly, most major altcoins are holding key supports. ETH is trading well above the main USD 3,050 and USD 3,000 support levels. XRP is placed above USD 1.05, but it is facing hurdles near USD 1.20. ADA could continue to rise towards the key USD 3.00 resistance.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

Recently, bitcoin price made an attempt to gain strength above the USD 48,500 level, but it failed. BTC is now consolidating near the USD 48,000 level. An initial support is near the USD 47,500 level. The next key support is near the USD 47,200 level. Any more downsides may possibly push the price towards the USD 46,500 support.
On the upside, an initial hurdle is near the USD 48,500 level. The first major resistance is near the USD 49,000 level, followed by USD 49,200. To start a fresh rally, the price must settle above the USD 50,000 resistance.

Ethereum price

Ethereum price settled below the USD 3,200 pivot level. However, ETH is trading well above the USD 3,120 support zone. If there is a close below USD 3,120, the price could revisit the key USD 3,050 support zone.
A fresh increase towards the USD 3,220 level might face hurdles. The main resistance sits at USD 3,250, above which ETH could attempt a break above the USD 3,300 level.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) is rising and it is trading above the USD 2.75 level. The first major resistance is near the USD 2.88 level. If there is a break above USD 2.88, the price could test USD 3.00. Conversely, there is a risk of a downside correction towards the USD 2.65 level.
Litecoin (LTC) is trading above the USD 165 support. LTC is back above USD 170, but it is struggling to gain pace above USD 175. The next stop could be USD 180. The main resistance sits at USD 188, above which the price could revisit the USD 200 barrier.
Dogecoin (DOGE) spiked above USD 0.280, but it failed to accelerate higher. The price formed a high near USD 0.290 and it is now consolidating. The main breakout zone is near the USD 0.300 level, where the bears might take a stand.
XRP price is trading well below the USD 1.20 pivot level. It is holding the USD 1.10 support, below which it could slide towards the USD 1.05 level. The next major support is near the USD 1.00 handle.

Other altcoins market today

A few altcoins are up over 5%, including REV, FTM, PERP, FLOW, WAVES, SAND, SOL, EGLD, ENJ, BSV, ICP, and MANA. Out of these, FTM rallied almost 39% and it surpassed the USD 0.70 level.

Overall, bitcoin price is trading above key supports such as USD 47,200. If BTC rises above USD 48,500, it could clear USD 49,200 in the near term.
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