02 Aug 2022 · 2 min read

Bitcoin Fluctuates, Ethereum Moves Lower, FIL Dives while CHZ Rallies

 

  • Bitcoin price declined and settled below USD 23,000.
  • Ethereum is down almost 7%, XRP is consolidating below USD 0.370.
  • FIL dived 29% while CHZ jumped 22%.

Bitcoin fluctuated between USD 23,400 and USD 22,800 in the past 24 hours and kept trending lower. It is currently (03:49 UTC) trading near USD 22,900 and is down 2% in a day and up 7% in a week.

Similarly, most major altcoins are moving lower. ETH is down almost 7%, and there was a move below USD 1,600. XRP struggles to stay above the USD 0.370 level while ADA broke the USD 0.50 support zone.

Total market capitalization

Source: coincodex.com

Bitcoin price

After a bearish reaction, bitcoin price broke the USD 23,500 support zone to enter a bearish zone. On the downside, the next major support is near the USD 22,500 zone, below which the price could decline heavily in the coming sessions.

On the upside, a strong resistance is near the USD 23,500 level. The next major resistance could be USD 23,750, above which the price could attempt a fresh increase.

Ethereum price

Ethereum price gained bearish momentum and declined below the USD 1,600 level. ETH trades near USD 1,580 and is down almost 7% in a day and up 9% in a week. On the downside, an initial support is near the USD 1,550 level. The next major support is near the USD 1,500 zone, below which the price could gain bearish momentum.

On the upside, the price might face stronger resistance near USD 1,650. The next key resistance is near the USD 1,680 level, above which the price might revisit USD 1,750.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) started a fresh decline from the USD 0.55 resistance zone. There was a clear move below the USD 0.52 support zone. The bulls failed to protect the main support at USD 0.50, and the price neared USD 0.49.

BNB is moving lower, and there was a move below the USD 280 support zone. The next major support is near USD 272, below which the bears may perhaps test USD 265.

Solana (SOL) is down 6% as the bears pushed the price below the USD 42 support. The price is now consolidating near the USD 40 support, below which there is a risk of a move towards USD 38.

DOGE declined 5% and traded below the USD 0.068 level. It might soon test the USD 0.0650 support zone. Any more losses might push the price into a bearish zone.

XRP price is struggling to stay above the USD 0.370 level. If there is a stonger bearish wave, the price might test USD 0.355. The main support is at USD 0.35.

Other altcoins market today

Many altcoins are down over 5%, including DOT, MATIC, AVAX, ETC, LINK, BCH, FIL, ICP, APE, AAVE, EOS, and HNT. Out of these, FIL is now the worst performer among the top 100 cryptoassets by market capitalization today as it dived 30% and moved below USD 8.00, trimming its weekly losses to 50%. Meanwhile, CHZ jumped 22%, surpassed USD 0.15, and increased its weekly gains to 51%. EVMOS is the best performer - it jumped 44% in a day, but crashed 18% in the past hour.

Overall, bitcoin price is correcting gains and trading below USD 23,000. If BTC settles below this level, it could even struggle to stay above USD 22,500.

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