BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin is consolidating around the lower Bollinger Band and between the $10500 and $10000 levels. The bulls are trying to take the price above the $10500 level, but if they do not increase in momentum, BTC might slip below the $10000 crucial support. As of around 17:00 UTC, Bitcoin made a high few points below the $10500 mark at $10,330 and closed above the lower Bollinger Band at $10,190 on Monday, 7th September 2020. The bulls are trying to save the asset from going down below the $10000 level and the lower BB by buying the low at $9913.8, almost seven hours before the daily candle closed today. As the fifty-day MA goes on sloping up and crosses above the twenty-day exponential MA, the bulls need to increase the magnitude of its momentum to take BTC back above the $11,000 resistance. Traders and investors are eagerly waiting for the asset to escalate back higher to witness profits.
Key points to mark:
Immediate resistance that BTC is facing = $10,500. If bulls take the price above this level, it will test $11,000 (20 EMA), $11,171 (50 MA), $11,300 (basis of BB), followed by $11,500 before rising to $12,325 + $12,474 (upper BB) resistance levels.
Immediate support that BTC is facing = $10,104 (lower BB) and $10,000. If the price falls below these levels, Bitcoin might decline below the $9800 support level.
Indicators
MACD has reduced its deceleration. The MACD line moves in negative momentum below 0, and the signal line has also crossed below it. RSI has flattened itself in the overbought zone at 36 levels with price corrections.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum is trading between $365 and $316.5 after slipping below its fifty-day MA. The bears are continuously trying to push the price out of the Bollinger Bands area, but the bulls are not letting this happen. As of around 17:00 UTC, ETH made a high just a few points below the $365 level at $359 and closed the price at $348 on Monday, 7th September 2020. The bulls are currently not allowing the asset to slip below the lower Bollinger Band by buying the low just a few points below it at $324, around seven hours before the daily candle closed today. The fifty-day MA continues to slope up 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 = $365, $375 (50 MA), and $380. If the bulls can take the price above these levels, ETH will test $391 (20 EMA), $397.5 (basis of BB) before rising to $410 and then $437 resistance levels.
Immediate support that ETH is facing = $335 (lower BB). If the bears push ETH below this level, it will test $316.5 before going down to test the $288.7 support level.
Indicators
The MACD line has crossed below 0. The signal line is sloping down close to 0, but still above it. RSI has flattened itself at 42 indicating tha the bulls still have the upper hand.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple is consolidating at the lower support level of August 2nd low, testing it again and again, after breaking below the $0.255 support level. If the bulls can successfully take the price above $0.255 level, we can expect Ripple to consolidate in the lower half of the Bollinger Bands region for some time, otherwise, the bears might push it out of the Bollinger Bands again. As of around 17:00 UTC, Ripple increased just a few points above the crucial lower support of $0.241 at $0.243 and also closed the price exactly at it at $0.241 on Monday, 7th September 2020. The bulls are trying to save XRP from slipping out of the Bollinger Bands by buying the low at $0.230, almost seven hours before the daily candle closed today. The bulls need to increase their momentum otherwise XRP will decline below $0.200. Traders and investors after filling their bags with more Ripples now patiently wait for the price to enter into the upper BB zone.
Key points to mark:
Immediate resistance that XRP is facing = $0.255. If bulls push XRP above this level, $0.266 (20 EMA), $0.268 (50 MA), and $0.272 (basis of BB) will be tested, followed by $0.285, before testing $0.309 (upper BB) resistance level.
Immediate support that XRP is facing = $0.241 and $0.236 (lower BB). If the bears push XRP below this level, it will decline below the $0.200 support level.
Indicators
The MACD line is moving further towards negative values below the 0 level and now the signal line has also crossed below it. RSI has flattened at 39 in the overbought region.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin is trading between $51 and the lower Bollinger Band. The bulls are trying to take the price above the $51 mark, but this seems to happening slowly. As of around 17:00 UTC, Litecoin made a high of $48.7 and closed the price above the lower Bollinger Band at $48 on Monday, 7th September 2020. The bulls are not allowing the altcoin to sink below the lower BB and the $46 mark by buying the low at $45, almost seven hours before the daily candle closes today. If bulls push Litecoin with more strength above the $51 level and maintain that strength, we can expect it to consolidate in the lower Bollinger Band zone for some more 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 = $51. If bulls can take the price above this level, LTC will test $55 (20 EMA), $56 (50 MA), $57 (basis of BB), followed by $60.5 and then $64 before testing $68 (upper BB) resistance level.
Immediate support that LTC is facing = $46 (lower BB). If bears push the price below this level, LTC will sink to the $39 support level.
Indicators
The MACD line is moving further into the negative zone below 0 and the signal line has also crossed below it. RSI has flattened at 39.8 level indicating bulls are still holding up.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash is trading around the lower Bollinger Band and the $217.5 support level. As of around 17:00 UTC, Bitcoin Cash has made a high of $229.7 in the lower half of BB and closed the price at $226 on Monday, 7th September 2020. The bulls are currently trying their best to save BCH from slipping off below the $217.5 mark and the lower Bollinger Band by buying it back from a low of $215.6, almost seven hours before the daily candle closes. Traders and investors, while filling in more at lower levels, watch out carefully for the next move. The bears are trying to push the price further into the lower levels out of the BB region. To avoid this, the bulls need to more strength to take the price above the $260 level and into the upper half region of Bollinger Bands to witness profitable levels again.
Key points to mark:
Immediate resistance that BCH is facing = $246. If bulls take BCH above these levels, it will face resistance at $260 (20 EMA), $266 (basis of BB), followed by $276 (50 MA) and then $280.5 before testing $315 (upper BB) + $330 resistance levels.
Immediate support that BCH is facing = $216.5 (lower BB). If bears push BCH below this level, it will test the $200 support level below which the price might sink further into lower levels.
Indicators
The MACD line is sloping further away into negative values below the 0 level. The signal line is also moving in a negative trend below 0. RSI has flattened at 36 levels in the overbought area indicating that bears are trying to take over.
