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


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Denys Serhiichuk

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Which cryptocurrencies have found their local resistance levels so far?

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

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.

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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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