08 Aug 2022 · 2 min read

Bitcoin Tests USD 24K, Ethereum Eyes USD 1.8K, Altcoins Rally

 

  • Bitcoin price was able to clear the USD 23,500 resistance zone.
  • Ethereum surpassed USD 1,750, XRP moved above USD 0.380.
  • Several altcoins are up in double digits. 

Bitcoin price was able to clear the USD 23,500 resistance zone and is currently (11:54 UTC) trading near USD 24,060. BTC is up almost 5% in a day and 3% in a week.

Similarly, most major altcoins are also rising and gaining pace. ETH climbed above the USD 1,750 resistance zone. XRP surpassed USD 0.38 while ADA is testing the USD 0.55 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After forming a base above the USD 23,000 level, bitcoin price started a steady increase and moved above the USD 23,500 resistance level. An immediate resistance is near the USD 24,450 level. The next main resistance is still near the USD 24,500 level. A clear move above this resistance zone could push the price towards USD 25,000.

On the downside, an immediate support is at USD 23,500. The next major support is near the USD 23,000 zone, below which the price could start a stronger downside correction.

Ethereum price

Ethereum price started a steady increase after there was a close above the USD 1,700 level. ETH broke the USD 1,750 resistance to move further into a positive zone. ETH is now up over 5% in a day and a week. An immediate resistance is near the USD 1,800 level. The next key resistance is near the USD 1,880 level, above which the price could rise towards the USD 2,000 resistance zone.

On the downside, an initial support is near the USD 1,720 level. The next major support is near the USD 1,700 zone, below which the price could drop to USD 1,650.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is rising and trading above the USD 0.535 resistance. It is approaching the USD 0.550 resistance zone. The next key resistance is near the USD 0.565 level, above which the price could test USD 0.588.

BNB is gaining pace above the USD 325 level. The first major resistance is near the USD 335 level. A close above USD 335 might send the price towards the USD 350 level in the near term.

Solana (SOL) is up almost 8% and trading above the USD 42 level. An immediate resistance is near the USD 43.80 level. Any more gains might send the price towards the USD 45 level.

DOGE broke the USD 0.0700 resistance level. The next major resistance is near the USD 0.0720 level. If the bulls remain in action, the price might move towards the USD 0.0750 level.

XRP price is gaining pace above the USD 0.380 resistance. The first major resistance is near USD 0.388, above which the price might test the USD 0.40 level.

Other altcoins market today

Many altcoins are also moving higher. Meanwhile, RUNE, NEAR, LINK, AVAX, FLOW, CEL, and GRT jumped 10%-23% in a day, becoming the best performers among the top 100 coins today.

To sum up, bitcoin price is moving higher and approaching the USD 24,500 resistance. If the bulls gain strength, BTC may perhaps rise towards the USD 25,000 level.

_____ 

Find the best price to buy/sell cryptocurrency: