BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin has slipped out of the ascending triangle but the bulls positively closed the price just above the $11.500 mark. Bitcoin slipped to the lower half of the Bollinger Bands region below the 20EMA as well. Bulls tried to recover it above the triangle's support but could only make a high of $11899 and closed the price just above $11,500 level at $11,531 on Friday, 21st August 2020. They saved the cryptocurrency from going below the $11.5K mark and picked it up just above it at a low of exactly $11,500 yesterday. As the fifty-day MA still continues to slope up, bulls need to increase more momentum and strength to push the asset inside the ascending triangle soon. Traders and investors are filling in more at the dips and waiting for the asset to escalate above the ascending triangle again..
Key points to mark:
Immediate resistance that BTC faces: $12,100 (ascending triangle resistance) + $12,259.8 (upper BB) + $12,325. If bulls take the price above these levels, it will test $13,174 and $13,764 resistance before rising to $14,580 level.
Immediate support that BTC faces: $11,500. If the price falls below this level, it will test $11104 (lower BB) + $11000, followed by $10500 + $10498.9 (50 MA) support levels.
Indicators
MACD has increased its deceleration a lot. The MACD line is sloping down towards the 0 level below the signal line. RSI is downsloping at 52.9 level with bulls still in command.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum has gone back to trade between the $380 to $410 levels. The bears have pulled down the price below the 20EMA into the lower half of Bollinger Bands. Bulls now require more strength to push the price above the $410 mark. The bulls took the price above it making a high of $419 but could not sustain and dropped down closing the price above the $380 level at $388 on Friday, 21st August 2020. The bulls bought the dip from just above $380 level making a low of $385.5 yesterday. The fifty-day MA is still sloping up and traders & investors who smartly invested in the Ethereum project, are hoping that the bulls soon increase their momentum and take the asset into the upper half of Bollinger Bands region to witness further higher levels.
Key points to mark:
Immediate resistance that ETH faces: $437 + $444 (upper BB). If bulls can take the price above these levels, ETH will test $458 level before rallying to the $470 - $485 zone, followed by a $515 upper resistance level.
Immediate support that ETH faces: $380. If bears push ETH below it, it will test $365 + $362.5 (lower BB), before declining down to $321 (50 MA) support level.
Indicators
MACD has increased its deceleration a lot and the MACD line has sloped downwards pointing towards the 0 level, below the signal line. RSI is sloping down at 52.6 with a heavy price correction.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple after crossing above the $0.309 and the $0.318 resistance levels, could not hold back and was pulled down by the bears below $0.309 resistance. The bears tried to take over and closed the price in the lower half of the Bollinger Band region. The bulls could make a high of $0.306 and closed the price just below the basis (middle line) of Bollinger Bands at $0.290 on Friday, 21st August 2020. Bulls did not let the asset slip below a low of $0.279 yesterday. Traders and investors continue to take advantage of this lower dip and fill their bags with more Ripples. Bulls need to increase more strength and take Ripple above the basis of BB to its upper half zone.
Key points to mark:
Immediate resistance that XRP faces: $0.296 (basis of BB) + $0.309. If bulls push XRP above these levels, $0.314 (upper BB) will be tested, followed by a minor resistance at $0.327, and then $0.346 before rallying up to $0.408 level.
Immediate support that XRP faces: $0.277 (lower BB). If bears push XRP below this level, it will test the $0.271 before declining to $0.255 and $0.243 (50 MA) support level.
Indicators
MACD has increased its deceleration a lot. The MACD line is sloping downwards below the signal line away from it towards the 0 level. RSI slopes down to 50.7 indicating that bulls are slowly losing their hold.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin has again made a lower high with the bulls somehow closing the price exactly at the basis (middle line) of Bollinger Bands. The bears seem to battle with some strong force by pulling down the price below the $60.5 mark. The bulls tried to take Litecoin above the $64 level but failed, making a high exactly at $64 but closed the price below $60.5 level at $59 on Friday, 21st August 2020. Bulls picked up the dip and did not let the altcoin sink below its twenty-day exponential MA making a low of $58.8 yesterday. Traders and investors take advantage of this event by collecting more at lower levels. The bulls need to increase some strength to take Litecoin above the Bollinger Bands to the upside.
Key points to mark:
Immediate resistance that LTC faces: $64 + $66 (upper BB). If bulls can take the price above this level, LTC will test $72 and $76, followed by $80 and $83 at the higher resistance levels.
Immediate support that LTC faces: $59 (20 EMA + basis of BB). If bears take over and push the price below it, LTC will decline to the lower BB at $52.5 and $51.6 (50 MA) before testing $46 support level.
Indicators
MACD has begun to decelerate. The MACD line has crossed below the signal line, both above 0 level. RSI is sloping in the downward direction at 52.9 level indicating bulls are trying hard with the upper hand.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash fell outside the symmetrical triangle almost touching the $280.5 mark. The bulls somehow saved the price from going below the lower Bollinger Band. The bulls could make a high of $305 and closed the price just above the $280.5 level at $282 on Friday, 21st August 2020. The bulls saved the cryptocurrency from slipping below the lower BB and the $280.5 mark and bought the dip just above it making a low of $281 yesterday. Even though traders and investors buy more at lower levels, they currently stay alert for the upcoming price movements.
Key points to mark:
Immediate resistance that BCH faces: $292 (20 EMA) + $297 (symmetrical triangle support). If bulls can take BCH above these levels, it will first face resistance at $315 (upper BB), followed by $323 (symmetrical triangle resistance), and then $330 before rallying to $353 resistance level.
Immediate support that BCH faces: $280.5 + $278 (lower BB). If bears push BCH below these levels, it will go down to test $266 (50 MA), before declining to $260 and $246 support level.
Indicators
MACD has increased its deceleration a lot. The MACD line is sloping down below the signal line away from it and pointing towards the 0 level. RSI has sloped down at 47.5 level indicating that bulls are losing their strength.
