11 Aug 2022 · 2 min read

Bitcoin and Ethereum Keep Inching Higher, CEL Doubles in a Week

 

  • Bitcoin keeps moving higher above USD 24,000.
  • Ethereum is testing the USD 1,900 level, XRP is approaching the USD 0.40 resistance.
  • CEL is the best performer today and in a week.

Bitcoin price formed a strong base above USD 22,650 and rallied on US inflation news yesterday. BTC is now (03:59 UTC) trading near the USD 24,400 level and is up over 6% in a day and almost 7% in a week.

Similarly, most major altcoins are eyeing more upsides. ETH rallied over 12% and surpassed the USD 1,880 resistance. XRP might test the USD 0.40 resistance while ADA is approaching the USD 0.55 resistance.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a sharp decline, bitcoin price found a strong support above USD 22,500. The bulls were active near USD 22,600 and USD 22,700. As a result, BTC started a strong increase and is now facing resistance near the USD 24,500 level. The next main resistance is near the USD 25,000 level, above which the price might even test USD 26,000.

On the downside, an immediate support is at USD 24,000. The next major support is near the USD 23,500 zone, below which the price could start a fresh decline in the near term. 

Ethereum price

Ethereum price outperformed bitcoin with a strong move above the USD 1,750 resistance. ETH rallied over 12% in a day and cleared the USD 1,880 resistance. It even spiked above USD 1,900 before it started a consolidation phase. ETH is also up 16% in a week. On the downside, an initial support is near the USD 1,850 level. The next major support is near the USD 1,800 zone, below which the price could drop towards the USD 1,750 level.

An immediate resistance is near the USD 1,920 level. The next key resistance is near the USD 2,000 level, where the bulls might face selling interest.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is rising steadily above the USD 0.535 resistance. The first major resistance is near USD 0.55, above which the price could accelerate higher towards USD 0.60.

BNB is back above the USD 325 resistance level and is now testing the USD 332 resistance zone. A clear move above this level might send the price towards USD 350.

Solana (SOL) jumped almost 12%, and there was a move above the USD 43.50 resistance. If the bulls remain in action, the price may perhaps rise towards the USD 45 resistance.

DOGE is moving higher above the USD 0.0700 support level. The price is facing resistance near the USD 0.0725 level, above which DOGE might test the USD 0.0750 resistance.

XRP price is again rising and approaching the USD 0.388 resistance. The next major resistance is near USD 0.40, above which the price might accelerate.

Other altcoins market today

Many altcoins are gaining bullish momentum, including DOT, MATIC, UNI, LINK, NEAR, LTC, FTT, CRO, ATOM, and VET. Meanwhile, CEL jumped almost 33% in a day, surpassing USD 2.35 and becoming the best performer among the top 100 cryptoassets by market capitalization today and in a week. CEL jumped 104% in a week and is now also up 237% in a month. It’s still down 63% in a year.

Overall, bitcoin price is gaining pace above the USD 24,000 resistance. If BTC remains stable above USD 24,000, it could rise towards the USD 25,000 resistance zone.

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