Bitcoin and Ethereum Hold Support, SOL Moves Into Top 10

Bitcoin price corrected lower, but it remained stable above the USD 45,000 support. BTC started a fresh increase and climbed above USD 46,000. It is currently (11:45 UTC) approaching the USD 47,000 resistance, above which the price might test USD 48,000.

Similarly, most major altcoins are slowly rising. ETH found support near USD 3,110 and it is back above the USD 3,200 resistance. XRP started consolidating near USD 1.20 after it was rejected near USD 1.30. Besides, DOT is holding gains above the USD 25 support.

Total market capitalization

crypto market capSource: www.tradingview.com

Bitcoin price

After a short-term downside correction, bitcoin price found support above USD 45,000. BTC formed a base and it recovered above USD 46,000. It even surpassed USD 46,500, but it must settle above USD 47,000 for more gains. The main resistance is still near USD 48,000, above which the price could start a strong rally.

An initial support on the downside is near USD 46,200. The next support sits near the USD 45,500 level, below which the price might test USD 45,000.

Ethereum price

Ethereum price also found support near USD 3,110 and it recovered above USD 3,200. ETH even climbed above USD 3,220 and it might continue to rise towards USD 3,300. The main breakout resistance stands near USD 3,325, above which the bulls are likely to gain strength.

If there is a fresh downside correction, the price might find support near USD 3,180. The main support is now at USD 3,110, below which the price could test the USD 3,000 support.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) settled above the USD 2.00 pivot level. ADA is facing hurdles near USD 2.20. If it continues to struggle, there could be a downside correction. The first key support is near USD 2.05, below which the price could even decline below the USD 2.00 support zone.

Litecoin (LTC) is consolidating near the USD 180 pivot level. On the upside, the USD 188 level is key resistance, above which the price might rise towards the USD 200 level. If there is a downside break below USD 180, the price may possibly test USD 172. The next major support sits near USD 165.

Dogecoin (DOGE) corrected lower from the USD 0.350 resistance. It traded below USD 0.335, but the bulls were active near USD 0.320. If there are additional losses, the price could test the USD 0.300 support. To climb further, the price must surpass the USD 0.350 resistance.

XRP price was rejected near USD 1.30. It corrected lower below the USD 1.25 support. The price declined over 8% and it even broke USD 1.20. If there are more downsides, the price could test USD 1.05. Conversely, XRP might start a fresh increase towards the USD 1.30 resistance.

Other altcoins market today

Many altcoins gained over 5%, including AUDIO, LUNA, SOL, FTM, AVAX, NEAR, SUSHI, EGLD, DOT, XDC, and CAKE. Out of these, AUDIO is still holding gains above the USD 3.20 level.

To sum up, bitcoin price is recovering, but it must surpass USD 47,000 and USD 48,000 for upside continuation. If not, BTC might test USD 45,000.
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Updated: 08/17/2021 — 09:00