BITCOIN / U.S. DOLLAR
Price Analysis
After trying to cross above the upper Bollinger Band, Bitcoin is now trading in the lower half of the Bollinger Bands (BB) zone and below its twenty-day exponential MA. Bulls were trying to take the price towards the upper BB, but the bears took over by pushing it below the $11500 level again. If the bulls do not increase some strength and momentum, the cryptocurrency might consolidate in the lower BB region. As of 19:00 UTC, Bitcoin made a high above the basis of BB at $11975 and closed the price below the $11500 resistance at $11401 on Wednesday, 2nd September 2020. The bulls are trying to save the asset from slipping out of the Bollinger Bands by buying the lows, a few points below the lower BB at $11,183, five hours before the daily candle closes today. As the fifty-day MA goes on sloping up, bulls need to increase the magnitude of its momentum to take the asset back above the $11,500 crucial resistance. Traders and investors are eagerly waiting for the asset to push higher for profits.
Key points to mark:
Immediate resistance that BTC is facing: $11,500 + $11,585 (20 EMA) + $11,703 (basis of BB). If bulls take the price above these levels, it will test 12,175 (upper BB), followed by $12,325 before rising to $13,174 and $13,764 resistance levels.
Immediate support that BTC is facing: $11,231.5 (lower BB). If the price falls below this level, it will test $11059.7 (50 MA), followed by the $10,500 support level.
Indicators
MACD has increased in deceleration. The MACD line seems to slope down again towards the 0 level after trying to cross above the signal line. RSI is deeply sloping down at 47.6 level with price corrections.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum, after crossing above the $470 resistance level has now been pushed back down to the $437 level by the bears. It's now trading in the upper Bollinger Bands zone. The Bulls were trying to take the price above the $470 level again, but the bears didn't let that happen. If bulls do not increase strength, we can expect Ethereum to consolidate between the basis (middle line) of Bollinger Bands and its upper BB for a few days. As of 19:00 UTC, ETH made a high above the $470 level at $482 and closed at the $437 mark on Wednesday, 2nd September 2020. The bulls are currently not allowing ETH to slip down below the basis of BB and bought the low just a few points above it at $417.9, five hours before the daily candle closes. The fifty-day MA continues sloping up significantly with traders & investors who smartly invested in the Ethereum project taking advantage of some price corrections.
Key points to mark:
Immediate resistance that ETH is facing: $458 + $462.8 (upper BB). If bulls can take the price above this level, ETH will test $470 before rallying to the $515 resistance level.
Immediate support that ETH is facing: $437 + $414.7 (basis of BB). If bears push ETH below this level, it will test $410 (20 EMA), followed by $380 before going down to test $366.6 (lower BB) + $362 (50 MA) support level.
Indicators
MACD has reduced in acceleration and the MACD line is moving parallel to the signal line above it, both above the 0 level. RSI is significantly sloping down at 58.5 indicating bulls are in command.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple is trading between the $0.271 level and its twenty-day exponential MA. The bulls were trying to take the price above the $0.309 resistance but bears have currently taken over by pushing the altcoin below its 20 EMA. If the bulls do not increase their strength, we can expect XRP to trade in the lower half region of Bollinger Bands. As of around 19:00 UTC, Ripple made a high just a few points below the $0.309 resistance at $0.304 and closed just above the $0.271 mark at $0.274 on Wednesday, 2nd September 2020. The bulls are trying to save the asset from slipping out of the Bollinger Bands by buying the low exactly at the lower BB at $0.261, five hours before the daily candle closes. Bulls need to increase in momentum and if they do so, we can expect Ripple to rise above $0.285 and the basis line of BB. Traders and investors after filling their bags with more Ripples now eagerly wait for the price to enter into the upper BB zone.
Key points to mark:
Immediate resistance that XRP is facing: $0.281 (20 EMA) + $0.287 (basis of BB). If bulls push XRP above these levels, $0.309 + $0.312 (upper BB) will be tested, followed by $0.318, a minor resistance at $0.327 before rallying up to $0.346 level.
Immediate support that XRP is facing: $0.271 + $0.264 (50 MA) + $0.261 (lower BB). If bears push XRP below these levels, it will test $0.255 before declining to $0.241 support level.
Indicators
MACD has increased its deceleration. The MACD line has turned itself away from the signal line after trying to cross above it. RSI is sloping down at 48.7 indicating bulls still have the upper hand.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin fell below the $60.5 resistance level into the lower half of the Bollinger Bands region. The bulls are still trying to take the price above the $64 mark. As of around 19:00 UTC, Litecoin made a high of $63 and closed the price at $58 on Wednesday, 2nd September 2020. Bulls are not allowing the altcoin to sink below its fifty-day MA and the lower Bollinger Band by making a low of $56, five hours before the daily candle closes. If the bulls increase in strength and momentum to push Litecoin above the $60.5 mark and maintain their strength, we can expect it to consolidate in the upper Bollinger Band zone for some time. Traders and investors after taking advantage of the lower dips, now wait for this price correction to take an uptrend soon.
Key points to mark:
Immediate resistance that LTC is facing: $59 (20 EMA) + $60.6 (basis of BB). If bulls can take the price above this level, LTC will test $64, and then $66.6 (upper BB) before rallying to $72, $76, and $80 at the higher resistance levels.
Immediate support that LTC is facing: $55 (50 MA) + $54.6 (lower BB). If bears push the price below these levels, LTC will go down to test $51 before testing the $46 support level.
Indicators
MACD has increased its deceleration. The MACD line has turned itself away from the signal line, pointing towards the 0 level again. RSI has sloped downwards at 49 level, indicating bulls are still in the game.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash has gone down below the $280.5 resistance level slipping through its MAs. It's now trading in the lower half of the Bollinger Bands region. The bulls tried to take the altcoin above $280.5 and the basis (middle line) of BB, but it seems like bears are acting stronger and not letting the price sustain above it. As of around 19:00 UTC, Bitcoin Cash has made a high of $294.9 in the upper half of BB but closed the price a few points above the $260 level and the lower Bollinger Band at $262 on Wednesday, 2nd September 2020. The bulls are currently not allowing the cryptocurrency to slip off below the lower BB by buying back a low of $245.6, five hours before the daily candle closes. Traders and investors, while filling in more at lower levels, watch out carefully for the next move. Bears might try to push the price out of the Bollinger Bands zone further into the lower levels. Bulls need to increase more strength to take the price above the $280.5 mark and into the upper half region of Bollinger Bands to witness profitable levels again.
Key points to mark:
Immediate resistance that BCH is facing: $276 (50 MA) + $280.7 (20 EMA) + $285.8 (basis of BB). If bulls take BCH above these levels, it will face resistance at $315 (upper BB), before testing $330 resistance.
Immediate support that BCH is facing: $260. If bears push BCH below this level, it will test $256 (lower BB), and then go down to test $246 before declining to $217.5 support level.
Indicators
MACD has increased its deceleration. The MACD line is sloping away below the 0 level. The signal line is also moving in negative momentum below the 0 level. RSI is deeply sloping downwards at 42.8 level indicating that bulls are losing their strength.
