24 August 2022 07:56 EDT . 2 min read

Bitcoin and Ethereum Aim At Key Upside Break

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Bitcoin price is still struggling to clear the USD 21,650 resistance.
Ethereum is facing hurdles near USD 1,650, XRP is consolidating below USD 0.35.
CHZ and HNT are up over 10%.

Bitcoin price consolidated above the USD 21,000 support zone. BTC is still struggling to gain pace above the USD 21,650 resistance. It is currently (11:20 UTC) showing a few positive signs and might start a recovery wave towards USD 22,000.

Similarly, most major altcoins are facing important hurdles. ETH is facing a major resistance near USD 1,650 and USD 1,665. XRP might rise if it clears the USD 0.65 resistance. ADA is struggling to stay above the USD 0.45 support.

Total market capitalization

Bitcoin price

After facing a strong rejection near USD 21,650, the bitcoin price started a consolidation phase. BTC remained stable above the USD 21,000 zone. On the upside, the price is facing a strong resistance near the USD 21,550 and USD 21,650 levels. The next resistance is near the USD 22,000 level, above which the price might gain bullish momentum.

On the downside, the first major support is still near the USD 21,000 level. The next breakdown support might be near the USD 20,750 zone, below which the price could test USD 20,000.

Ethereum price

Ethereum price is slowly moving higher and is trading above the USD 1,600 level. ETH already attempted an increase above the USD 1,650 resistance. It seems to be facing another barrier near the USD 1,670 level. The next major resistance might be USD 1,720, above which the price could rise towards the USD 1,800 resistance zone.

If the price remains below USD 1,700, it might decline below the USD 1,600 support zone. The next major support is USD 1,550, below which the price could gain bearish momentum.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) declined below the USD 0.45 support zone. If the bulls push it back above USD 0.45 and USD 0.462, there might be a steady increase. The next major resistance sits at USD 0.475.

BNB is still consolidating near the USD 295 level. On the upside, there is a major barrier near the USD 300 and USD 305 resistance levels, above which the price might rise steadily.

Solana (SOL) is attempting an upside break above the USD 35 resistance level. A close above USD 35 might start a move towards USD 36.50. Conversely, it might decline and test the USD 33.20 support.

DOGE is now trading well below the USD 0.070 resistance zone. If the bears remain in action, there could be a move towards the USD 0.065 support zone in the coming sessions.

XRP price is struggling to rise above the USD 0.35 resistance zone. If the bulls continue to struggle, there might be a bearish reaction towards the USD 0.32 level.

Other altcoins market today

A few altcoins are slowly rising today, including AVAX, LEO, ATOM, LINK, NEAR, FLOW, APE, CHZ, HNT, MIOTA, and GRT. Out of these, CHZ is accelerating higher above the USD 0.24 level.

To sum up, bitcoin seems to be preparing for the next move, with strong support at USD 21,000. If BTC stays above USD 21,000, it might rise towards the USD 22,000 level.

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