08 Sep 2022 · 2 min read

Ethereum Trims Losses and Rallies While Bitcoin Lacks Momentum

  • Bitcoin price recovered and tested the USD 19,500 resistance.
  • Ethereum rallied over 8%, XRP might clear the USD 0.335 resistance.
  • ETC, ATOM, LUNC, and EOS are up over 10%.

Bitcoin price extended losses and traded close to USD 18,500. BTC formed a base and started an upside correction above USD 19,000. It is currently (04:00 UTC) facing a major resistance near the USD 19,500 pivot zone.

Besides, most major altcoins managed to trim most losses and recovered. ETH rallied over 8% and climbed above USD 1,620. XRP is approaching the USD 0.335 resistance. ADA might clear the USD 0.48 resistance zone.

Bitcoin price

After a sharp decline, bitcoin price traded close to the USD 18,500 zone. A base was formed above USD 18,500 and BTC started an upside correction. There was a move above the USD 18,800 and USD 19,000 levels. The price even cleared the USD 19,200 resistance, but the bears were active near the key USD 19,500 pivot zone. A close above USD 19,500 might start a decent increase. The next major resistance is now near the USD 20,000 level.

On the downside, an initial support is near the USD 19,000 level. The next major support is near the USD 18,800 zone, below which the price could test USD 18,500.

Ethereum price

Ethereum price found a strong buying interest near the USD 1,500 zone. ETH started a major increase above the USD 1,550 and USD 1,560 resistance levels. It is up over 8% and there was a close above the USD 1,600 level. The next major resistance is near USD 1,650, above which the price may perhaps rise towards USD 1,700.

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 revisit USD 1,500.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) remained well bid above the USD 0.45 support. It is slowly rising and approaching the USD 0.48 resistance, above which the price may perhaps rise towards USD 0.50.

BNB is rising and trading above the USD 272 resistance zone. It is now flirting with the USD 280 level. The next major resistance is USD 288, above which the price might test USD 300.

Solana (SOL) is up over 6% and there was a move above the USD 32.00 resistance. If the bulls remain in action, the price might soon test the USD 33.50 resistance zone.

DOGE is back above the USD 0.060 resistance. It gained over 5% and might soon attempt a move above the USD 0.0620 resistance. The next major resistance sits near the USD 0.065 level.

XRP price climbed higher and broke the USD 0.330 level. The bulls are now attempting a move above USD 0.335. If they succeed, the price could test the USD 0.35 resistance.

Other altcoins market today

Many altcoins are rising steadily, including DOT, MATIC, ETC, UNI, LINK, LUNC, BCH, FLOW, EOS, AAVE, QNT, and HNT. Out of these, HNT rallied over 40% and cleared the USD 5.20 level.

Overall, bitcoin price is recovering and trading above USD 19,000. However, BTC must clear USD 19,500 to continue higher. If not, it might start a fresh drop to USD 18,500.

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