• Market Cap: $972,543,928,315.08
  • 24h Vol: $44,064,322,444.29
  • BTC Dominance: 38.03%

Bitcoin and Ethereum Inch Higher, APE and SNX Rally

Published: Wednesday, 3rd August, 2022 - 14:05
  • Bitcoin price is gaining pace above USD 23,200.
  • Ethereum climbed above USD 1,650, XRP moved above USD 0.372.
  • APE and SNX are up over 11%.

Bitcoin price started a fresh increase above the USD 23,200 resistance zone and is currently (11:20 UTC) trading near USD 23,400. BTC is up 2% in a day and 10% in a week.

Similarly, most major altcoins are also moving higher. ETH climbed above the USD 1,620 and USD 1,650 resistance levels. XRP might rise towards USD 0.388. ADA is eyeing a break above the USD 0.52 resistance.

Total market capitalization

Source: coincodex.com

Bitcoin price

After moving close to the USD 22,500 support zone, bitcoin price started a steady increase. BTC surpassed the USD 23,200 level and might rise further. If there is a close above USD 23,500, the price might rise to USD 24,000. The next major resistance could be USD 24,200, above which BTC could start a strong increase.

If there is another failure, the price might test the USD 23,000 support. The next major support is near the USD 22,500 zone, below which BTC could test USD 22,000. 

Ethereum price

Ethereum price is gaining pace above the USD 1,620 resistance. ETH is up over 4% and trading above the USD 1,650 resistance. The price is also up 15% in a week. On the upside, ETH might face resistance near USD 1,680. The next key resistance is near the USD 1,720 level, above which the price might aim for a move toward USD 1,800.

On the downside, an initial support is near the USD 1,620 level. The next major support is near the USD 1,600 zone, below which the price could revisit USD 1,550.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) formed a base above the USD 0.50 level. The price is moving higher towards the USD 0.52 resistance. Any more gains could send the price towards USD 0.535.

BNB is up 3% and there was a move above the USD 290 level. It seems like the price might soon test the USD 300 barrier, above which BNB could rally.

Solana (SOL) is still struggling below the USD 40 level. To start a fresh increase, SOL must settle above the USD 40 and USD 40.50 levels. If not, it might test USD 37. (Learn more: SOL Drops as Thousands of Wallets Attacked on Solana, Millions in USD Stolen)

DOGE found strong bids near the USD 0.0650 support zone. The price is recovering and might soon test the USD 0.0680 level. Any more gains could send the price towards the USD 0.070 level.

XRP price is moving higher towards USD 0.375. The next major resistance is near USD 0.388, above which the bulls may test USD 0.40.

Other altcoins market today

Many altcoins are showing positive signs, including MATIC, UNI, AVAX, ETC, LINK, NEAR, APE, VET, ICP, and AAVE. SNX and APE jumped over 11%, reaching USD 3.90 and USD 7.19, and increasing their weekly gains to 32% and 27%, respectively.

To sum up, bitcoin price is moving higher above USD 23,200. If BTC settles above USD 23,500, it could even clear the USD 24,000 resistance in the near term.

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This post first appeared on: Crypto News

Author: Aayush Jindal
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