You are currently viewing 
<span class="bsf-rt-reading-time"><span class="bsf-rt-display-label" prefix="Reading Time"></span> <span class="bsf-rt-display-time" reading_time="3"></span> <span class="bsf-rt-display-postfix" postfix="mins"></span></span><!-- .bsf-rt-reading-time -->Bitcoin Recovers As Ethereum Surges, Altcoins Turn Green

Bitcoin Recovers As Ethereum Surges, Altcoins Turn Green

Share the Tech Love

Aayush Jindal
2021-08-05 00:38:00
cryptonews.com

BTC price tested the USD 37,500 zone before it started a stronger upward move. It broke the USD 39,000 resistance and it is currently (04:29 UTC) testing the USD 39,500 level.

Similarly, most major altcoins are showing positive signs. ETH outperformed BTC and rallied around 9%. XRP is holding gains above USD 0.700 and it might rise steadily.

Total market capitalization

Bitcoin Recovers As Ethereum Surges, Altcoins Turn Green 101
Source: www.tradingview.com

Bitcoin price

After a break below USD 38,000, bitcoin price found support near USD 37,500. BTC started a fresh increase after ETH’s surge. It broke the USD 38,500 and USD 39,000 resistance levels. To continue higher, a proper follow up move above USD 40,000 is needed in the near term.
On the downside, the USD 39,000 level is a short-term support. The first major support is near USD 38,500, below which the bears might aim for a test of the USD 37,500 level.

Ethereum price

Ethereum price gained bullish momentum after it broke the USD 2,550 resistance. ETH surged above the USD 2,650 and USD 2,700 levels. It tested the USD 2,775 zone before correcting lower.
It is now trading near the USD 2,700 zone. The first key support is near USD 2,650, below which the price might correct lower towards the USD 2,580 support zone.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) is moving higher and it is trading above the USD 1.35 level. The main hurdle is still near the USD 1.40 level. A clear break above the USD 1.40 level could set the pace for a larger increase. In this case, the price might rise towards the USD 1.50 level.
Litecoin (LTC) is back above the USD 140 level. An immediate resistance is near USD 142, but the first major resistance is near USD 145. The key breakout zone sits at USD 150, above which the bulls might push the price higher. If not, the price could revisit USD 125.
Dogecoin (DOGE) is attempting a recovery wave above the USD 0.200 level. The next key resistance is near the USD 0.208 level. Any more gains could lead the price towards the main USD 0.220 resistance zone. On the downside, the USD 0.192 is a decent support.
XRP price spiked below USD 0.700, but it remained well bid. It is now rising and trading above the USD 0.720 level. The first key resistance is near the USD 0.750 level. A proper close above the USD 0.750 level could set the pace for a larger increase in the coming sessions. The next stop could be USD 0.800 or even USD 0.825.

Other altcoins market today

Many altcoins gained over 8%, including BTT, COMP, AAVE, VGX, RUNE, AXS, XMR, UNI, DOT, TRX, ICX, SOL, and EGLD. Out of these, BTT rallied almost 19% and it surpassed the USD 0.0035 level.

Overall, bitcoin price is attempting a decent recovery above USD 39,000. However, BTC must settle above USD 40,000 for a sustained upward move.
_____

Find the best price to buy/sell cryptocurrency:

Bitcoin Recovers As Ethereum Surges, Altcoins Turn Green 102

Click Here For Source Article

Leave a Reply