BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin continues to consolidate between the $10500 and $10000 levels. The bulls seem to increase in strength as they try to take the price above the $10500 level but still require more momentum. The crucial $10K support level is being strongly held by the bulls. As of 19:00 UTC, Bitcoin made a high few points below the $10500 mark at $10,359 and closed the price at $10,330 on Wednesday, 9th September 2020. The bulls are trying to save the asset from going down below the $10K level and the lower Bollinger Band by buying the low at $10,010, almost five hours before the daily candle closes today. As the fifty-day MA goes on sloping up and crosses above both the twenty-day exponential MA and the basis (middle line) of Bollinger Bands, the bulls need to increase its momentum to take the asset back above the $11,000 resistance.
Key points to mark:
Immediate resistance that BTC is facing = $10,500. If the bulls take the price above this level, it will test $10,922 (20 EMA) + $11,125 (basis of BB) + $11,207.6 (50 MA), followed by $11,500 before rising to $12,325 + $12,474 (upper BB) resistance levels.
Immediate support that BTC is facing = $10,000. If the price falls below this level, $9837.5 (lower BB) will be tested before Bitcoin declines to the $9500 support level.
Indicators
The MACD line moves in negative momentum below 0, and the signal line has also crossed below it. RSI has slightly sloped up in the overbought zone at 38 with price corrections.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum also continues to trade between the $365 and $316.5 levels after slipping below its fifty-day MA. The bulls have increased in strength taking Ether a little higher towards the $365 mark and seem to overpower the bears that were continuously trying to push the price out of the Bollinger Bands zone. As of around 19:00 UTC, ETH made a high just a few points below the $365 level at $360 and closed the price at $357.6 on Wednesday, 9th September 2020. The bulls are currently not allowing the asset to slip down below the lower Bollinger Band by buying the low just a few points above it at $331.5, around five hours before the daily candle closes today. The fifty-day MA continues to slope up trying to cross above the twenty-day exponential MA with traders & investors who smartly invested in the Ethereum project patiently waiting for it to go back into the upper half of the Bollinger Bands region.
Key points to mark:
Immediate resistance that ETH is facing = $365. If the bulls can take the price above this level, ETH will test $379 (50 MA) + $382.7 (20 EMA) + $390.7 (basis of BB) before rising to $410 and then $437 resistance levels.
Immediate support that ETH is facing = $321.5 (lower BB). If the bears push ETH below this level, it will test $316.5 before going down to test $288.7 support level.
Indicators
The MACD line is moving in negative momentum below 0. The signal line is sloping down almost trying to touch 0, but still above it. RSI has slightly sloped up at 43 indicating bulls still have the upper hand.
RIPPLE / U.S. DOLLAR
Price Analysis
As Ripple still consolidates at the lower support level of the August 2nd low, testing it again and again, the bulls continue to try their best to push the price above it. The price closed at a point above $0.241 level which is a positive signal. As of around 19:00 UTC, Ripple made a high just a few points above the crucial lower support of $0.241 at $0.243 and also closed the price above it at $0.242 on Wednesday, 9th September 2020. The bulls are trying to save the asset from slipping out of the Bollinger Bands by buying the low at $0.233, almost five hours before the daily candle closed today. The bulls need to increase their momentum to take the asset towards the $0.255 resistance level.
Key points to mark:
Immediate resistance that XRP is facing = $0.241 + $0.255. If bulls push XRP above these levels, $0.261 (20 EMA) + $0.266 (basis of BB) + $0.270 (50 MA) will be tested, followed by $0.285, before testing $0.309 (upper BB) resistance level.
Immediate support that XRP is facing = $0.241 + $0.228 (lower BB). If the bears push XRP below this level, it will decline below $0.200 support level.
Indicators
The MACD line is moving further towards negative values below 0, along with the signal line. RSI is still flat at 38.7 in the overbought region.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin is now trading between $51 and $46. The bulls are still trying to take the price above the $51 mark. As of around 19:00 UTC, Litecoin made a high of $48.8 and closed the price above the $46 level and the lower Bollinger Band at $48.6 on Wednesday, 9th September 2020. The bulls are not allowing XRP to sink below the lower BB and the $46 mark by buying the low at $46.6, almost five hours before the daily candle closed today. If the bulls increase in strength to push Litecoin above the $51 level and maintain it, 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 $53.8 (20 EMA) + $55.6 (basis of BB) + $56 (50 MA), followed by $60.5 and then $64 before testing $68 (upper BB) resistance level.
Immediate support that LTC is facing = $46 + $44 (lower BB). If bears push the price below these levels, LTC will sink to the $39 support level.
Indicators
The MACD line is moving further into the negative zone below 0, along with the signal line. RSI remains flat at 38.9 level indicating that the bulls are still holding up.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash is still trading above and around the $217.5 support level and hasn't been able to cross $235 for five days, which is now acting as a minor resistance point. As of 19:00 UTC, Bitcoin Cash made a high of $228 in the lower half of BB and closed the price at $227 on Wednesday, 9th 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 $218.7, almost five hours before the daily candle closed. Traders and investors, while filling in more at lower levels, should watch out carefully for the next move. The 20 EMA and the basis of BB are sloping down significantly, but if the bulls add more pressure, this altcoin can go 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 $252.8 (20 EMA) + $259 (basis of BB), followed by $276 (50 MA) and then $280.5 before testing $311 (upper BB) + $330 resistance levels.
Immediate support that BCH is facing = $217.5. If bears push BCH below this level, it will test $207 (lower BB), and then $200 support below which the price might sink further into lower levels.
Indicators
The MACD line is sloping further away into negative values below 0. The signal line is also moving in negative momentum below 0. RSI remains flattened at 35.8 in the overbought area indicating that bears are trying to take over.
