[PRICE ANALYSIS] AUGUST 28: BTC/USD, ETH/USD, XRP/USD, LTC/USD, BCH/USD

Key points to mark:

• Immediate resistance that BTC faces: $11,707.7 (basis of BB). If bulls take the price above this level, it will test $12,172.8 (upper BB), followed by $12,325 before rising to $13,174 and $13,764 resistance levels.

• Immediate support that BTC faces: $11,500 + $11,242.5 (lower BB). If the price falls below these levels, it will test the $11000 level, followed by $10,822.7 (50 MA) + $10,500 support levels.

Indicators

MACD has reduced its deceleration. The MACD line is sloping down towards the 0 level below the signal line. RSI is slightly sloping up at 52 level with bulls still in command.

ETHEREUM / U.S. DOLLAR

Price Analysis

Ethereum also made a positive close above the twenty-day EMA and is still trading between the $380 to $410 levels. The Bulls tried to take the price above the basis of the Bollinger Bands and the $410 mark making a high of $398.9 and positively closed it above the 20 EMA at $395.9 on Friday, 28th August 2020. The bulls bought the dip from just above the $380 level making a low of $380.6 yesterday. The fifty-day MA is still sloping up significantly and traders & investors who smartly invested in the Ethereum project are waiting for the asset to enter into the upper half of Bollinger Bands region to witness further higher levels.

Key points to mark:

• Immediate resistance that ETH faces: $404.7 (basis of BB) + $410. If bulls can take the price above these levels, ETH will test $437 + $443.5 (upper BB), followed by a $458 level.

• Immediate support that ETH faces: $392.7 (20 EMA) + $380. If bears push ETH below these levels, it will test $366 (lower BB) before going down to $342.9 (50 MA) support level.

Indicators

MACD has reduced its deceleration and the MACD line is sloping down below the signal line, both nearing the 0 level. RSI has slightly sloped up at 53.8 indicating bulls are still in command.

RIPPLE / U.S. DOLLAR

Price Analysis

Ripple after being pulled down below the $0.285 resistance and its twenty-day EMA including the $0.271 level also, has finally closed positively just above it. The bulls did not let the altcoin fall out of the Bollinger Bands. Ripple made a high just above the $0.271 mark at $0.273 and also closed the price above it at $0.272 on Friday, 28th August 2020. Bulls did not let the asset slip below the lower BB and bought the low at $0.260 yesterday. Traders and investors after filling their bags with more Ripples now eagerly wait for the price to cross above the overhead resistances as the bulls increase some momentum. If they increase more strength we can expect Ripple to rise above $0.285 and the basis (middle line) of Bollinger Bands to its upper half zone soon.

Key points to mark:

• Immediate resistance that XRP faces: $0.281 (20 EMA) + $0.285 + $0.288 (basis of BB). If bulls push XRP above these levels, $0.309 + $0.313 (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 faces: $0.271 + $0.264 (lower BB). If bears push XRP below these levels, it will test $0.255 (50 MA) before declining to $0.241 support level.

Indicators

MACD has reduced its deceleration. The MACD line is sloping downwards parallelly below the signal line, both nearing the 0 level. RSI is sloping at 47 indicating bulls still have the upper hand.

LITECOIN / U.S. DOLLAR

Price Analysis

Litecoin is trading between both its MAs in the lower half of the Bollinger Bands region. The bulls tried to take the price above its 20 EMA and basis of BB but made a high just a few points below them at $58.3 and closed the price at $57.5 on Friday, 28th August 2020. Bulls picked up the dip and did not let the altcoin sink below its fifty-day MA making a low of $55.4 yesterday. Bulls should increase more strength and momentum to push Litecoin above the twenty-day exponential MA and the basis line back into the 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 faces: $58.8 (20 EMA) + $59.6 (basis of BB). If bulls can take the price above these levels, LTC will test $60.5, followed by $64, then $66 (upper BB) before rallying to $72, $76, and $80 at the higher resistance levels.

• Immediate support that LTC faces: $53.8 (50 MA) + $52.7 (lower BB). If bears push the price out of the Bollinger Bands, LTC will test $51 before testing the $46 support level.

Indicators

MACD goes on to increase its deceleration. The MACD line is moving away below the signal line, both above 0 level. RSI has sloped up at 48.8 level indicating bulls are still in the game.

BITCOIN CASH / U.S. DOLLAR

Price Analysis

Bitcoin Cash has positively closed inside the Bollinger Band region. The bulls tried to take the altcoin above its fifty-day MA and made a high exactly at it at $272 and closed the price at $268 on Friday, 28th August 2020. The bulls saved the cryptocurrency from falling below the $260 mark and bought the dip from just above it making a low of $261 yesterday. Traders and investors, while filling in more at lower levels, are eager for the next move as bulls increased some momentum. They need to increase more strength to take the price above its 50 MA and for the altcoin to escalate back above the $280.5 level to witness profitable levels again.

Key points to mark:

• Immediate resistance that BCH faces: $272 (50 MA). If bulls take BCH above this level, it will face resistance at $280.5, followed by $284 (20 EMA) + $290 (basis of BB), and then will rise up to test $316.7 (upper BB), before testing $330 resistance.

• Immediate support that BCH faces: $264 (lower BB) + $260. If bears push BCH below these levels, it will go down to test $246 before declining to $217.5 support level.

Indicators

MACD has reduced its deceleration. The MACD line has slipped below the 0 level below the signal line. RSI is sloping upwards at 42.5 level indicating that bulls are losing their strength.