23 Aug 2021 · 2 min read

Bitcoin and Ethereum Remain Supported, BNB Rallies To USD 500

Bitcoin price started consolidation near the USD 50,000 level. Ethereum is consolidating gains above USD 3,300, XRP tested USD 1.30. BNB gained 10% and it even tested the USD 500 resistance.

Bitcoin price started a fresh increase above the USD 48,000 resistance. BTC even surpassed USD 50,000 and tested USD 50,500. It is currently (11:45 UTC) consolidating gains near USD 50,000 with a major support at USD 49,200.

Similarly, most major altcoins are trading in a bullish zone. ETH spiked above USD 3,350 before correcting a few points. XRP extended its rally and tested USD 1.30. ADA is slowly rising towards the USD 3.00 resistance.

Total market capitalization

cryptocurrency market cap
Source: www.tradingview.com

Bitcoin price

After a steady increase, bitcoin price was able to settle above USD 50,000. BTC even tested the USD 50,500 resistance zone. It started consolidating gains near USD 50,000 and it could correct lower. An initial support is near the USD 49,500 level. The first key support is near USD 49,200, below which the price could continue lower.

On the upside, an initial hurdle is near the USD 50,500 level. The next key resistance is near USD 51,200, above which the price could test USD 52,000.

Ethereum price

Ethereum price also extended its upward move above the USD 3,300 resistance. ETH spiked above USD 3,350 and it tested USD 3,365. It is now stable above the USD 3,300 level. If there are additional losses, the price could test the USD 3,250 support zone.

If there is a fresh increase, the price could surpass the USD 3,365 high. The next major resistance sits near USD 3,420. Any more gains could open the doors for a move towards the USD 3,500 level.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) outperformed bitcoin and it climbed over 10%. ADA even surpassed the USD 2.80 resistance. If the bulls remain active, the price may possibly rise towards the USD 3.00 level. If there is a downside correction, the price might find bids near the USD 2.75 level. The next major support is near the USD 2.60 level.

Litecoin (LTC) is slowly rising and it even tested the USD 188 level. An immediate resistance is near the USD 195 level. The main resistance is near the USD 200 level. Any more gains could open the doors for a move towards the USD 220 level.

Dogecoin (DOGE) surpassed the USD 0.320 resistance, but it is struggling to gain bullish momentum. If DOGE clears the USD 0.335 resistance, it could extend gains. Conversely, there could be a downside correction towards the USD 0.300 support zone.

XRP price gained pace above the USD 1.280 resistance zone. It even tested the USD 1.30 level before starting a downside correction. The price is now forming a base above the USD 1.25 level. If it breaks the USD 1.30 resistance, there could be a steady increase towards the USD 1.35 level. On the downside, the main support now sits at USD 1.20.

Other altcoins market today

Many altcoins are up over 8%, including TEL, DASH, NANO, AMP, XMR, RUNE, AVAX, BNB, KCS, CHSB, and CAKE. Out of these, DASH gained 15% and it surpassed the USD 270 level.

To sum up, the bitcoin price is consolidating gains near the USD 50,000 level. If BTC climbs above USD 50,500, it could rise towards the USD 52,000 level.
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