August 10, 2022

  • Bitcoin price is consolidating losses near USD 65,000.
  • Ethereum is rising towards USD 4,800, BNB is up 3%.
  • SHIB gained 5%, and MANA rallied 19%.

Bitcoin price declined below the USD 65,000 support level before there was a minor recovery. It is currently (04:20 UTC) trying to recover further and facing a major hurdle near USD 65,500.

Besides, most major altcoins are moving higher. ETH is gaining momentum and it could even surge above USD 4,800. XRP is trading near USD 1.22 and could continue higher. ADA might gain pace for a move above USD 2.12.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a downside break below USD 65,000, bitcoin price extended losses. BTC even spiked below USD 63,500 before recovering. The price is now consolidating losses and trading near USD 65,000. On the downside, an initial support is near the USD 64,500 level. The next key support is near the USD 64,000 level, below which the price might test USD 63,200.

On the upside, the price is facing resistance near USD 65,500. The next major resistance is now forming near the USD 66,200 level, above which the price might gain bullish momentum.

Ethereum price

Ethereum price outpaced bitcoin and started a steady increase above USD 4,750. ETH is facing hurdles near the USD 4,800 level. The main hurdle is near USD 4,850. A close above USD 4,850 is needed for a stronger increase in the near term.


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