BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin after trying to cross above the basis (middle line) of Bollinger Bands for three days has finally closed above it positively. Bulls pushed the price further above the $11.5K mark making a high of $11847 and closed the price just above the basis of BB positively at $11,768 on Monday, 24th August 2020. They saved the cryptocurrency from going below the $11.5K mark and picked it up just above the twenty-day exponential MA making a low of $11,605 yesterday. As the fifty-day MA and the lower BB slope up, bulls need to maintain and 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 higher to witness profits. We can also note that the Bollinger Bands have begun to contract to indicate some change in the price trend.
Key points to mark:
Immediate resistance that BTC faces: $12,136 (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: $11,599.8 (20 EMA) + $11,500. If the price falls below this level, it will test $11,392.9 (lower BB) + $11000 level, followed by $10,655 (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 56.6 level with bulls still in command.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum continues to trade between the $380 to $410 levels. Bulls have increased their strength and tried to push the price above the $410 mark and successfully closing it above the basis (middle line) of Bollinger Bands. The bulls took the price above it making a high of $410.6 and positively closed at $408 on Monday, 24th August 2020. The bulls bought the dip from just above $380 level making a low of $388 yesterday. The fifty-day MA is still sloping up and traders & investors who smartly invested in the Ethereum project eagerly look forward to the asset to trade in the upper half of Bollinger Bands region to witness further higher levels.
Key points to mark:
Immediate resistance that ETH faces: $410. If bulls can take the price above this level, ETH will test $437 + $443 (upper BB), followed by $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 $368.5 (lower BB) + $365, before declining down to $331 (50 MA) support level.
Indicators
MACD has reduced its deceleration and the MACD line has sloped downwards pointing towards the 0 level, below the signal line. RSI is sloping up at 58.2 indicating bullish levels.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple after being pulled down by the bears below $0.285 resistance has now crossed above it. The bulls tried to take the price into the upper half of Bollinger Bands by making a high almost at the basis (middle line) of BB at $0.292 and closed the price just above the twenty-day EMA and the $0.285 mark at $0.288 on Monday, 24th August 2020. Bulls did not let the asset slip below the lower BB and bought the low at $0.282 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: $0.294 (basis of BB) + $0.309. If bulls push XRP above these levels, $0.312 (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: $0.286 (20 EMA) + $0.276 (lower BB). If bears push XRP below this level, it will test the $0.271 before declining to $0.255 and $0.249 (50 MA) support level.
Indicators
MACD has reduced its deceleration. The MACD line is sloping downwards parallelly below the signal line towards the 0 level. RSI slightly slopes up to 55 indicating that bulls are increasing more strength.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin makes a higher high as the bulls take it above the $60.5K mark and now trades in the upper half of Bollinger Bands region. The bulls rose the price above to make a high of $63 and closed the price positively at $62 on Monday, 24th August 2020. Bulls picked up the dip from just above the twenty-day EMA and the basis (middle line) of Bollinger Bands and did not let the altcoin sink below a low of $60 yesterday. As the bulls increase more strength and momentum, traders and investors are keen on further higher levels after taking advantage of the lows before.
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: $60.5. If bears take over and push the price below it, LTC will test $59 (20 EMA + basis of BB) before declining to the lower BB at $53 and $52.7 (50 MA) before testing $46 support level.
Indicators
MACD has reduced its deceleration. The MACD line is moving below the signal line, both above 0 level. RSI is sloping in the upward direction at 57.7 level indicating bulls have the upper hand.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash has made a positive close just a few points above its twenty-day EMA. The bulls tried to take the price to the upper half of the Bollinger Bands zone by making a high almost at the basis (middle line) of BB at $294 and closed the price just above the 20 EMA level at $291.5 on Monday, 24th August 2020. The bulls saved the cryptocurrency from slipping below the $280.5 mark and bought the dip just above it making a low of $282 yesterday. Traders and investors are waiting for the altcoin to escalate above the basis into the upper Bollinger Band region to witness profitable levels again.
Key points to mark:
Immediate resistance that BCH faces: $296.7 (basis of BB) + $315.8 (upper BB). If bulls can take BCH above these levels, it will first face resistance at $330 before rallying to a $353 resistance level.
Immediate support that BCH faces: $280.5 + $277.7 (lower BB). If bears push BCH below these levels, it will go down to test $269.9 (50 MA), before declining to $260 and $246 support level.
Indicators
MACD has reduced its deceleration. The MACD line is sloping down below the signal line away from it near the 0 level. RSI has sloped up at 51.7 level indicating that bulls are gaining their strength back.
