Bitcoin and Ethereum Consolidate, AVAX and LUNA Shine

Bitcoin price settled below the USD 45,000 support zone. BTC traded below USD 44,500 and it even spiked below USD 44,000. It is currently (11:45 UTC) consolidating losses and is facing resistance near USD 45,500.

Similarly, most major altcoins are trading in a range. ETH traded below the USD 3,000 support, but it is still above USD 2,950. XRP is trading above the USD 1.10 level, with a major resistance at USD 1.20. ADA is holding gains above the USD 2.00 resistance.

Total market capitalization

crypto market capSource: www.tradingview.com

Bitcoin price

Recently, bitcoin price extended its decline below USD 44,200, but downsides were limited. BTC is now consolidating above the USD 44,000 support zone. On the upside, initial resistance is near the USD 45,000 level. The first key resistance is near the USD 45,500 level, above which the price might recover towards the USD 46,000 level.

An immediate support on the downside is near the USD 44,000 zone. If there is a close below USD 44,000, the price could extend its decline towards the USD 43,200 level. The next major support is near the USD 42,000 level.

Ethereum price

Ethereum price declined below the USD 3,000 support. However, ETH bulls are still protecting the USD 2,950 level. If there is a downside break below USD 2,950, the price could extend its decline towards USD 2,880. The next major support could be USD 2,750.

On the upside, an initial resistance is near the USD 3,050 level. The main resistance is now forming near the USD 3,110 level, above which the price might gain traction.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) gained traction above the USD 2.10 resistance. It even spiked towards USD 2.20 before correcting lower. An immediate support is near the USD 2.08 level. The main breakdown support sits at USD 2.00. On the upside, a close above USD 2.20 could lead the price towards the USD 2.50 level.

Litecoin (LTC) is stuck between the USD 162 support and the USD 170 resistance. The next key resistance is near the USD 172 level, above which the price might rise towards the USD 180 level. Conversely, a close below USD 165 may possibly push the price towards the USD 155 level.

Dogecoin (DOGE) is struggling to stay above the USD 0.295 and USD 0.300 support levels. If there are additional losses, the bears might target a test of USD 0.280. The next major support is near USD 0.265. A fresh increase above USD 0.305 could face resistance near the USD 0.312 level.

XRP price is consolidating above the USD 1.08 support level. The next key support is near USD 1.05, followed by USD 1.00. A break below USD 1.00 could accelerate losses. On the upside, the price is likely to climb if there is a close above the USD 1.20 level.

Other altcoins market today

Many altcoins gained over 10% today, including AVAX, PERP, AUDIO, LUNA, ATOM, VGX, FTM, AR, ICP, ALGO, and GRT. Out of these, AVAX rallied 40% and it surpassed the USD 30 level.

To sum up, bitcoin price is consolidating above the USD 44,000 support. If BTC forms a base above USD 44,000, it could start a steady increase above USD 45,000 and USD 45,500.
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Updated: 08/19/2021 — 09:00