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BTC, ETH, XRP, SOL, and MATIC Price Analysis for August 23

23 Aug, 20223 min readAnalytics
BTC, ETH, XRP, SOL, and MATIC Price Analysis for August 23

The cryptocurrency market is trying to recover after a few days of fall.

BTC/USD

The rate of Bitcoin (BTC) has risen by almost 1% over the last day.

On the daily chart, Bitcoin (BTC) has once again bounced off the $21,000 mark, confirming buyers' power. If the growth continues until the end of the day, there are chances to see the breakout of the recently formed local resistance level at $21,774.

Bitcoin is trading at $21,496 at press time.

ETH/USD

Ethereum (ETH) has followed the growth of Bitcoin (BTC), going up by 4.37% since yesterday.

Ethereum (ETH) has also made a false breakout of the vital mark of $1,600. Until the rate is above it, bulls have a chance to seize the initiative for a midterm rise. If that happens, the leading altcoin can test the nearest resistance zone at $1,700 shortly.

Ethereum is trading at $1,647 at press time.

XRP/USD

XRP is growing the least today, with a rise of 1.49%.

XRP is trading similar to Bitcoin (BTC) as the coin is accumulating power for a local bounceback. In addition, the selling volume has declined, which means that bears are getting weaker. If bulls can hold the $0.34 mark, the upward move might be restored.

XRP is trading at $0.3420 at press time.

SOL/USD

Solana (SOL) is not an exception to the rule, rising by 4%.

Solana (SOL) is about to fix above the $36 mark. Currently, one needs to pay attention to that mark as the breakout of it can lead to a sharp rise to the next level area of $37. It may happen if today's candle closes with small or no wicks.

SOL is trading at $35.74 at press time.

MATIC/USD

MATIC is the biggest gainer today as the rate has rocketed by 4.56%.

MATIC has bounced off the $0.80 mark, which means that bears are not ready for a further drop. At the moment, $0.83 plays a key role in the continued rise. If bulls can conquer it, the breakout may lead to the resistance at 0.8448 soon.

MATIC is trading at $0.8237 at press time.

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