BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin after crossing above $12,000 later fell below the $11,500 level but luckily got purchased back by the bulls above it. Bulls closed the price above it confirming that they aren't ready to give up anytime soon. Bitcoin continues to trade in the upper half region of the Bollinger Bands making a high of $11,614 and positively closing the price just above $11,500 at $11,583 on Wednesday, 12th August 2020. They saved the price from falling below a low of $11,100 yesterday. As both, the twenty-day exponential MA, and the basis (middle) line of Bollinger Bands go on sloping upwards to give bullish results, bulls seem to maintain their strength. Traders and investors are ready and patiently waiting for the bulls to act more to escalate higher soon.
Key points to mark:
Immediate resistance that BTC faces: $12325 + $12506 (upper BB). If bulls take the price above these levels, it will test $13174 and $13764 resistance before rising to $14,580 level.
Immediate support that BTC faces: $11,500. If the price falls below this level, it will test $11171 (basis of BB) followed by $11000 + $10500. If bears take over and push BTC below the $10000 (50 MA) level, it will test $9836 (lower BB) support.
Indicators
MACD goes on reducing its acceleration. The MACD line is moving sideways and the signal line has gone very near to it, both almost parallel to the 0 level in positive values. RSI has very slightly sloped up at 70 with the commanding bulls.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum is consolidating between $380 - $410 resistance for a week now, still in the upper half region of the Bollinger Bands. Bulls are still unable to take the asset above $410 but could make a high of $389.7 and closed positively above the $380 level at $388 on Wednesday, 12th August 2020. The bulls did not allow Ether to a slip below its twenty-day EMA and the basis (middle line) of Bollinger Bands making a low of $366 yesterday. The lack of clarity still persists keeping the traders and investors alert for the coin's next movement. Both the MAs go on sloping in an upward direction. Bulls did not give up yet and are increasing more strength.
Key points to mark:
Immediate resistance that ETH faces: $410, followed by $434 (upper BB). If bulls can take the price above the $437 level, ETH will rise to test $458 + $470 - $485 zone before rallying to $515 upper resistance level.
Immediate support that ETH faces: $380, followed by $365. If bears push ETH below these levels, it will test the $359.8 (basis of BB) + $357.8 (20 EMA) before going down to the $316 strong support. Below this, the price will face support at $288 and $278 levels.
Indicators
MACD is decelerating with the MACD line crossing below the signal line, sloping down above the 0 level. RSI is sloping up at 66.6 with demanding bulls.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple has slipped down below the $0.285 level. The bears tried to push the altcoin out below the upper half of the Bollinger Bands section. The bulls tried their best to not let that happen and saved the price from going below the basis (middle line) of Bollinger Bands. Bulls could only make a high of $0.287 and closed the price making a dragon-fly Doji form at $0.282 on Wednesday, 12th August 2020. Bulls did not let the asset slip below the twenty-day exponential MA level making a low just above it at $0.271 yesterday. We can see some seller traffic atm, but the bulls bought back the fall and require more magnitude of increase to rise above. Traders and investors continue to wait patiently.
Key points to mark:
Immediate resistance that XRP faces: $0.285. If bulls push XRP above it, $0.309 + $0.318 will be tested, followed by $0.336 (upper BB). Further above it will go to test $0.346 resistance, followed by $0.362 before rallying up to $0.408 level.
Immediate support that XRP faces: $0.271. If bears push XRP below this level, it will test the $0.255 + $0.246 support level.
Indicators
MACD is deceleration with the MACD line sloping down below the signal line above 0 level. RSI seems to flatten at $62.8 indicating that bulls are not ready to give up.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin has entered the lower half region of the Bollinger Bands. The asset is trading below the cross-section of its twenty-day exponential MA and the basis (middle line) of Bollinger Bands. The bulls could take Litecoin upwards exactly till this cross-section to make a high of $54.9 and closed the price at $54.8 on Wednesday, 12th August 2020. Bulls picked up the dip from just above the $51 level and did not let the altcoin sink below a low of $51.5 yesterday. Traders and investors stay unclear of the next move eagerly waiting for the upward momentum to take place again. The bulls will try to increase more strength to take the price back into the upper half of BB.
Key points to mark:
Immediate resistance that LTC faces: $54.7 (20 EMA) + $55.6 (basis of BB). If bulls take the price above these level, it will test $60.5, followed by $64 resistance before rallying towards $76 + $80 at the higher levels.
Immediate support that LTC faces: $51. If bears take over and push the price below it, LTC will test $48 (50 MA) + $46 before declining to $39 support level.
Indicators
MACD goes on increasing its deceleration. The MACD line slopes down below the signal line above 0 level. RSI is slightly sloping up at 53 indicating bulls are struggling to still be in command.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash has also entered the lower half of Bollinger Bands. But the bulls saved the price from slipping below the $280 level. Bitcoin Cash is trading between its basis (middle line) of Bollinger Bands and $280 level. The bulls made a high exactly at the basis of BB above the twenty-day EMA at $290 and positively closed above the $280 line at $285 on Wednesday, 12th August 2020. The bulls saved the cryptocurrency from going below a low of $271 yesterday. Traders and investors after taking some advantage of the lower dips are waiting for the bulls to increase some more strength. The twenty-day exponential MA along with the basis line go on sloping up.
Key points to mark:
Immediate resistance that BCH faces: $310 + $330. If bulls can take BCH above these levels, it will first face resistance at $353, followed by $378 before rallying towards the $410 resistance level.
Immediate support that BCH faces: $280, followed by $260. If bears push BCH below these levels, it will test $252.7 (50 MA), before declining to $245 (lower BB) and $246 support levels.
Indicators
MACD has increased its deceleration. The MACD line is sloping down and has crossed the signal line above 0 level. RSI is very slightly sloping up at 53 level indicating bulls still have the upper hand.
