08 Sep 2022 · 2 min read

Bitcoin and Ethereum Defy Gravity, LUNC and USTC Rally

  • Bitcoin price is consolidating above the USD 19,000 pivot level.
  • Ethereum is eyeing more gains above USD 1,650, XRP might test the USD 0.35 resistance.
  • ATOM, LUNC, and USTC are gaining bullish momentum.

Bitcoin price started a recovery wave above the USD 19,000 resistance level. BTC is currently (11:20 UTC) consolidating and might clear the USD 19,500 resistance. If not, the bears might take back control.

Besides, most major altcoins are showing signs of more gains. ETH is consolidating above USD 1,600 and might attempt a fresh increase above USD 1,650. XRP is eyeing an upside break above the USD 0.335 resistance. ADA might rise towards the USD 0.50 resistance zone.

Bitcoin price

After forming a base above USD 18,500, bitcoin price started an upside correction. BTC was able to clear the USD 19,000 resistance level. It even broke the USD 19,200 level and tested the USD 19,500 resistance. If the bulls remain in action, they might attempt a move above the USD 19,500 resistance. The next major resistance is near the USD 20,000 level.

If there is a fresh decline, the price might find bids near the USD 18,800 level. The next major support is near the USD 18,500 zone, below which the price could start a sharp bearish wave.

Ethereum price

Ethereum price started a strong recovery wave and climbed above USD 1,600. ETH even cleared the USD 1,620 resistance zone. The next major resistance is near USD 1,650, above which the price may perhaps start a steady increase. In the stated case, the price could even surpass the USD 1,700 level.

On the downside, an initial support is now near the USD 1,585 level. The next major support is USD 1,550, below which price could gain bearish momentum.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is slowly moving higher towards the USD 0.48 resistance. The next major resistance is near USD 0.50, above which the price could start a strong increase in the near term.

BNB is trading near the USD 280 level. An immediate resistance is near the USD 282 level. The next major resistance is USD 288, above which the price might test USD 300.

Solana (SOL) is gaining momentum above the USD 32.50 resistance. It might soon test the USD 33.50 resistance zone, above which the bulls might aim a move towards the USD 35 level.

DOGE is consolidating above the USD 0.060 resistance. The first major resistance is near the USD 0.0620 resistance. The next major resistance sits near the USD 0.065 level.

XRP price is attempting a clear move above the USD 0.335 resistance. The main resistance is still near USD 0.35, above which the price could rise to USD 0.40.

Other altcoin markets today

Many altcoins are rising steadily, including DOT, MATIC, ETC, UNI, LINK, LUNC, BCH, FLOW, EOS, AAVE, HNT, and USTC. Out of these, LUNC rallied over 50% and cleared the USD 0.00052 level.

To sum up, the bitcoin price might soon attempt an upside break above USD 19,500. If the bulls succeed, BTC could start a steady increase. Conversely, it might revisit USD 18,500.

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