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BTC, ETH, SOL and MATIC Price Analysis for August 11

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Thu, 11/08/2022 - 16:13
BTC, ETH, SOL and MATIC Price Analysis for August 11
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Most of the coins continue their bull run, according to the CoinMarketCap ranking.

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Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has kept the rise after the breakout of the $24,000 level.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) is trying to fix above the local resistance level at $24,280. If the leading crypto can do that until the end of the day, one can expect further growth to the next level at $25,400 shortly.

Bitcoin is trading at $24,459 at press time.

ETH/USD

Ethereum (ETH) has gained even more than Bitcoin (BTC), going up by 3.13%.

ETH/USD chart by TradingView

It seems that Ethereum (ETH) could not fix above the $1,900 zone on the first attempt. Currently, one needs to pay close attention to the $1,850 mark. If buyers can hold this level, there are high chances to see the retest of $1,900 and possible further growth to the vital mark of $2,000. Such a scenario is relevant until the end of the month.

Ethereum is trading at $1,898 at press time.

SOL/USD

Solana (SOL) is the biggest gainer from the list today, rocketing by 4% over the past 24 hours.

SOLUSD chart by TradingView

Solana (SOL) is again trying to break the resistance level at $44.87. The bulls' power is also confirmed by the rising volume, which means that a breakout may occurr soon. If that happens, it can be the prerequsite for a sharp rise to the $50 zone.

SOL is trading at $43.99 at press time.

MATIC/USD

MATIC is the only falling coin today, going down by 0.46%.

MATIC/USD chart by TradingView

From the technical point of view, MATIC is trading in a narrow range between the support at $0.8448 and the resistance at $0.9849. At the moment, the price is close to the upper level, which means that bulls are more powerful than bears. If the daily candle closes above $0.95, the test of the $1 mark is just a matter of time.

MATIC is trading at $0.933 at press time.

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