Cryptocurrency market on August 23: Bitcoin climbs back to $ 50,000, Ethereum and Cardano get a boost

Crypto Markets Aug 23: Bitcoin price has shaped a assist base above $ 47,000 and $ 48,000. As a end result, BTC started one other spike above $ 49,500. There was a clear break above $ 50,000 and it’s now displaying many optimistic indicators.

Similarly, a lot of the huge altcoins are gaining upward momentum. ETH climbed above the USD 3,250 and USD 3,300 resistance ranges. XRP retested the important thing resistance space of ​​$ 1.25. ADA did higher, rising above the $ 2.75 resistance.

Cryptocurrency Market August 23: Bitcoin Price

After the Bitcoin price closed above $ 48,000, it rose. BTC was in a position to break by way of the resistance ranges of $ 49,200 and $ 49,500. Eventually there was a breakthrough above the main resistance at USD 50,000. It is presently consolidating at practically $ 50,000 and may proceed to rise. The subsequent main resistance is at $ 50,500, above which the price can check $ 51,200.

Immediate assist on the draw back is close to the $ 49,500 area. The subsequent huge assist is close to $ 49,200 beneath which there’s a danger of shifting in direction of $ 48,000.

Cryptocurrency Market August 23: Ethereum Price

Ethereum price can be rising and may break the $ 3,300 resistance. ETH is up 3% and even broke the USD 3,325 resistance. If the bulls stay lively, a transfer in direction of $ 3,420 is probably going. The subsequent main resistance is at $ 3,500.

If there’s a downward correction, the price might discover assist at $ 3,250. Critical assist is now forming close to the $ 3,200 mark.

Crypto market August 23: ADA, LTC, DOGE and XRP costs

Cardano (ADA) outperformed with a massive transfer above the USD 2.50 resistance. ADA rebounded greater than 10% and even handed the $ 2.75 mark. It is presently going through resistance close to the $ 2.85 stage. Any additional good points could lead on the price to the USD 3.00 mark.

Litecoin (LTC) is accelerating, attempting to shut above the $ 188 resistance. If LTC strikes up, it could even break the USD 195 resistance. In the named case, the price may hit the $ 200 resistance. The subsequent main resistance is close to the $ 220 mark.

Dogecoin (DOGE) conveniently trades above $ 0.320. Initial resistance is close to $ 0.325, above which a pullback into the $ 0.335 resistance space is feasible. Any additional good points may transfer the price in direction of the essential resistance at $ 0.350.

The XRP price is slowly rising and just lately examined the $ 1.25 resistance stage. If it closes above $ 1.25, the price can check the $ 1.30 resistance. On the flip facet, the bulls can stay lively close to the $ 1,232 and $ 1,220 ranges.

Cryptocurrency Market Aug 23: Another Altcoin Market

Many altcoins are up greater than 8%, together with TEL, NANO, AVAX, DASH, CRV, AR, ICX, BAT, XMR, CDX, MIOTA, ONE and ONT. Of these, TEL gained 25% and topped $ 0.025.

Overall, Bitcoin price is rising above the USD 50,000 resistance stage. If BTC ranges off above $ 50,000, it will probably proceed to climb in direction of $ 52,000.

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