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Bitcoin And Ethereum Attempt Price Recovery

Bitcoin And Ethereum Attempt Price Recovery

Last updated 11th Aug 2022
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Bitcoin is attempting a recovery above $60,000 while Ethereum is facing some resistance near $4,300. As well as Bitcoin, most major altcoins are attempting recovery. ETH is attempting to reach $4,280 while XRP is nearing $1.12. ADA still sits below $1.90.

In the fallout from reaching its new all-time high, Bitcoin has found some support near $58,000 and has started a recovery wave above the $60,000 resistance. The coin is currently trading around $60,800 but faces a number of hurdles on the upside.

Today’s Bitcoin price

The price of Bitcoin has started an upside correction above the $59,200 and $59,900 levels. The coin climbed above $60,000 and $60,200 but faces an initial barrier at $61,200. The next key resistance sits around the $62,500 level. If the coin surges above this, it could start a steady upward move.

If the price of Bitcoin resumes it’s decline below $60,200 and $60,000, the next key support is at $59,200.

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Today’s Ethereum price

Currently, the price of Ethereum is stable above the $4,120 support level. ETH recently recovered above $4,200 but is struggling to gain momentum above $4,250. The next major resistance that the coin could face is at the $4,300 level, above which the price could move above $4,450.

If the coin takes a downside correction, the price will find a main support at $4,000. Below this, ETH could see a strong decline.

Altcoin prices

Cardano (ADA) has settled below the $1.92 pivot level. It has found support near $1.75 and is now on the rise. The main breakout zone sits at $1.92. If the coin rises above this, it could reach $2.00.

Binance Coin (BNB) has spiked towards the $550 support level and is now trading above $580. The coin has an initial resistance at $600, above which there are chances of a move towards $620.

Ripple (XRP) has corrected higher from the $1.05 support zone. The coin is now trading above $1.10 but shows clear resistance near $1.12. If the coin breaks above $1.12, the price could reach $1.20.

If you want to invest in Ethereum, you might be interested in automated cryptocurrency trading robots such as Bitcoin Prime, Bitcoin Era and Bitcoin Code.

Ruby Layram

Ruby Layram

Ruby is a writer for Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. Ruby has been a professional personal finance and investment writer for 2 years and is currently building her own portfolio of altcoins. She is currently studying Psychology at the University of Winchester, specialising in Statistical analysis.