BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin is trading between the basis (middle line) of Bollinger Bands and its twenty-day Exponential Moving Average. Bulls are trying to take the price above the basis line into the upper half of the Bollinger Bands region. If they successfully do the same, we can expect Bitcoin to cross above its upper BB soon. If not, the cryptocurrency might consolidate between the basis line and the $11.5K mark for some time. As of 20:00 UTC, Bitcoin made a high above the basis of BB at $11,790 and closed the price just below it at $11,694.9 on Monday, 31st August 2020. The bulls are trying to save the asset from slipping below its twenty-day EMA and made a low of $11,600, four hours before the daily candle closes today. As the fifty-day MA goes on sloping up, bulls need to increase more momentum to take the asset further high towards the upper Bollinger Band. 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: $12,150 (upper BB). If bulls take the price above this level, it will test $12,325 before rising to $13,174 and $13,764 resistance levels.
Immediate support that BTC is facing: $11,706 (basis of BB) + $11,570.5 (20 EMA) + $11,500. If the price falls below these levels, it will test $11,262 (lower BB) + $11000 + $10,963.7 (50 MA), followed by $10,500 support level.
Indicators
MACD has reduced its deceleration a lot. The MACD line has turned itself parallel to the 0 level below the signal line. RSI has flattened itself above the midpoint at 55.5 level with bulls in command.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum is back with its continuous green candles and goes on making higher highs as it trades in the upper Bollinger Bands zone. The Bulls are trying to take the price above the $437 resistance level. If this happens, we can expect the asset to cross above the upper Bollinger Band soon. If not, Ethereum might consolidate between the basis (middle line) of Bollinger Bands and its upper BB for a few days. As of 20:00 UTC, ETH made a high above the $437 level at $440 and closed the price below it at $433.7 on Monday, 31st August 2020. All the indicators including both the MAs and the Bollinger Bands are sloping up significantly with traders & investors who smartly invested in the Ethereum project witnessing profitable levels.
Key points to mark:
Immediate resistance that ETH is facing: $437. If bulls can take the price above this level, ETH will test $448.5 (upper BB), followed by $458, and then $470 before rallying to the $515 resistance level.
Immediate support that ETH is facing: $410 (basis of BB). If bears push ETH below this level, it will test $400 (20 EMA), followed by $380 before going down to $370.8 (lower BB) support level.
Indicators
MACD has reduced its deceleration a lot and the MACD line has sloped up touching the signal line, both above the 0 level. RSI is slightly sloping up at 64.6 indicating bulls are in command.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple is trading between the basis (middle line) of Bollinger Bands and its twenty-day exponential MA. The bulls are trying to take the price above the $0.285 resistance and the basis line. If successful, we can expect the cryptocurrency to trade in the upper half region of Bollinger Bands. As of 20:00 UTC, Ripple made a high exactly at $0.285 and also closed the price just above its 20 EMA support at $0.280 on Monday, 31st August 2020. Bulls are trying to save the asset from slipping below its 20 EMA support, but as at 4 hours ago before the daily candle closed, Ripple was just below it at a low of $0.278. Bulls need to increase some more momentum to not let the price go down below its 20 EMA. If they increase more strength 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: $0.285 + $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 the $0.346 level.
Immediate support that XRP is facing: $0.281 (20 EMA) + $0.271. If bears push XRP below these levels, it will test $0.262 (lower BB) + $0.260 (50 MA), followed by $0.255 before declining to $0.241 support level.
Indicators
MACD has reduced its deceleration pretty much. The MACD line has turned itself parallel to the 0 level, below the signal line. RSI is slightly sloping down at 51 indicating bulls still have the upper hand.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin is trading between the $60.5 support and the $64 resistance level in the upper half of the Bollinger Bands region. The bulls are trying to take the price above the $64 mark. As of 20:00 UTC, Litecoin made a high exactly at $64 level and closed the price just above the $60.5 support at $60.9 on Monday, 31st August 2020. Bulls are not allowing the altcoin to sink below the basis (middle line) of Bollinger Bands making a low of $60.6 four hours before the daily candle closes. If bulls increase more strength and momentum to push Litecoin above the $64 resistance, we can expect it to cross above its upper Bollinger Band zone. Traders and investors are keen on further higher levels after taking advantage of the lower dips.
Key points to mark:
Immediate resistance that LTC is facing: $64. If bulls can take the price above this level, LTC will test $66.6 (upper BB) before rallying to $72, $76, and $80 at the higher resistance levels.
Immediate support that LTC is facing: $60.5 (basis of BB) + $59 (20 EMA). If bears push the price below these levels, LTC will go down to test $54.7 (50 MA) + $53.7 (lower BB), followed by $51 before testing the $46 support level.
Indicators
MACD has reduced its deceleration. The MACD line has slightly sloped up trying to touch the signal line, both above 0 level. RSI has sloped downwards but above the midpoint at 54.9 level indicating bulls are still in the game.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash is trading between its twenty-day exponential MA and its fifty-day MA. The bulls are trying to take the altcoin above $280.5 and its twenty-day MA and if this happens, we can expect BCH to rise above the basis (middle line) of Bollinger Bands. If not, the price might trade between its fifty-day MA and the lower Bollinger Band. As of 20:00 UTC, Bitcoin Cash has made a high exactly at its 20 EMA at $281.5 and closed the price almost at its 50 MA at $273.9 on Monday, 31st August 2020. The bulls are currently not allowing the cryptocurrency to slip off below its 50 MA support level by making a low of $273 four hours before the daily candle closes. Traders and investors, while filling in more at lower levels, are eager for the next move waiting for bulls to increase some momentum. They 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: $280.5 + $281.7 (20 EMA) + $287 (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: $274.5 (50 MA). If bears push BCH below this level, it will test $259.5 (lower BB), and then go down to test $246 before declining to $217.5 support level.
Indicators
MACD has reduced its deceleration. The MACD line is moving parallel to the 0 level below it, and the signal line is now touching the 0 level, above it. RSI is sloping upwards at 42.5 level indicating that bulls are losing their strength.
