The Price Analysis As Of 8/17. All About BTC, ETH, XRP, LINK, BCH, LTC, BSV, ADA, EOS, BNB
A short round-up of the prices of the coins. We give accurate prices of the coins. Read on to know more about the current status of the coins.
Where Are The Altcoins Targeting?
Boosting sentiment and leading to a stronger rally in select altcoins is Bitcoin’s strong move above the $12,200 resistance
When they do not have faith in fiat currencies and want to protect their purchasing power against debasement, investors usually buy large quantities of gold. Suggesting that Warren Buffet is not confident about the future health of the US and the global economy is Berkshire Hathaway’s recent purchase of Canadian gold miner Barrick Gold.
Although Buffet might not directly invest in Bitcoin, one of the younger managers will likely according to Morgan Creek Digital co-founder and partner Jason Williams.
Bitcoin has also followed it higher with gold making a sharp move today showing that their correlation in the short term might be increasing once again.
After its Bitcoin Cash Trust and Litecoin Trist received the green light to deposit at the Depository Trust Company, Grayscale Investments has also widened its offering. So now the products are able to list on major US stock exchanges.
To see where they might go this week lets take a look at some of the strongest crypto assets.
The ascending triangle pattern will complete as the bitcoin (BTC) broke out of its overhead resistance at $12,113.50 as the bulls can close the price above the resistance.
Which is just below June 26, 2019 high at $13,973.50 this bullish setup has a pattern target of $13,702.55. It may act as a stiff resistance if the price reaches this level.
Suggesting that the bulls have the upper hand, both moving averages are rising and the relative strength index is in the overbought zone.
Bitcoin’s price could drop to the 20-day exponential moving average if the bulls fail to sustain the price above $12, 113.50. The first indication that momentum has weakened is a break below this support.
For the past few days, a positive sign is that Ether (ETH) has been sustaining above the $415.634 level. Hence the suggestion that bulls are still not waiting for a deeper correction to buy.
The uptrend is likely to resume if the bulls can sustain the price above $444.15 whereas the next target is the $ 480-$ 500 zone. Suggesting that the trend favours the bulls is the upsloping moving averages and the RSI in the overbought zone.
A drop to the 20-day EMA is possibly contrary to the assumption as the bears sink the price below $ 415.634. The bulls will again attempt to resume the uptrend if the ETH/USD pair rebounds off the 20-day EMA.
A break below $ 366 could tilt the advantage in favour of the bears, as the break below the 20-day EMA will be the first sign of weakening momentum.
After breaking out of the falling wedge pattern on Aug 14, XRP has picked up momentum. Hereby the bulls then push the price above the $0.326113- $ 0.346727 overhead resistance zone.
A rally to $ 0.40 is possible if they succeed. Indicating advantages to the bulls is the unsloping moving averages and the RSI in the overbought territory.
The XRP/USD pair could remain range-bound for a few more days if they turn down from the overhead resistance zone.
The first sign of weakness will be a breakdown below the 20-day EMA. If the pair plummets below $0.268478 the trend will turn in favour of the bears.
Continuing to be in a strong uptrend is Chainlink’s LINK. The altcoin has not been corrected for three days in a row since the start of the leg of the up move on July 30 showing that the bulls are buying on every minor dip.
Suggesting that the LINK/USD pair is heavily overbought in the near term, the sharp rally of the past few days has pushed the RSI above the 80 levels. In May 2019, the RSI topped out close to 90 as this alone is not a reason to fall.
The uptrend can extend to $21.60 and then to $24.18 if the bulls push the price above $ 20.1111. Usually witnessing waterfall declines is the vertical rallies. Be careful as traders should not be swayed by greed.
A break below $16 could be the first sign that momentum has weakened on the downside.
Invalidating a developing descending triangle pattern, Bitcoin Cash (BCH) has broken out of the downtrend line. Suggesting that the bulls have the upper hand, the 20-day EMA is sloping up as well as the RSI has risen close to the overbought zone.
Thereafter it is viewed that the bulls try pushing the price to $326.30 and then to $353. Resulting in a rally to $410 and then to $430 is a breakout of this resistance.
The BCH/USD pair might extend its stay inside the range for a few more days if the bears defend the overhead resistance at $353.
If the pair turns down and breaks below the $280 support, the trend will turn in favour of the bears.
After breaking above the descending channel on August 15, Litecoin (LTC) picked up momentum. Attempting to push the price above the overhead resistance at $65.1573 are the bulls.
Suggesting that the bulls are again back in the driver’s seat the 20-day EMA has started to slope up once again as the RSI is close to the overbought zone.
Likely to start the next leg of the up move to $80 and then to $84 is a breakout and close above $ 65.1573.
It could drop to the 20-day EMA if the LTC/USD pair turns down from the current levels. Sinking the price to $51 is a break below the support
The bulls have not been able to pick up momentum showing a lack of demand at higher levels, as Bitcoin SV (BSV) broke above the downtrend line on Aug 15. Facing resistance at $ 227 is the altcoin.
Here bulls have not allowed the BSV/USD pair to slip below the 20-day EMA which is a minor positive. A rally to $ 260.86 is likely if the bulls can push the price above $ 227. Extending the rally to $320 is the breakout of this resistance.
If the pair turns down from the current level and breaks below the 20-day EMA, conversely a drop to $200 is possible. Shifting the advantage in favour of the bears is a break below this support.
Suggesting a balance between supply and demand Cardano (ADA) remains range-bound between the $0.13- $0.15 zone. Traders should wait for the price to make a decisive move before entering any trades as it is difficult to predict the direction of the breakout.
Suggesting that the medium-term trend remains in favour of the bulls, the 50-day SMA is sloping up. The next leg of the up move is likely to start if the buyers can propel the price above $ 0.1543051. Watch out for $0.20 as the next target.
The ADA/USD pair could extend its stay inside the range if the bears defend the overhead resistance at $ 0.1543051.
Signalling the possible start of a deeper correction to the $0.11-$0,10 support zone is a breakdown and close below $0.13.
The bears are defending this level aggressively as the bulls are attempting to push EOS above the overhead resistance at $ 3,8811.
Suggesting advantage to the bulls, both moving averages have turned up and the RSI is in the overbought zone.
A rally to $4.85 and then to $5.40 is possible if the bulls can sustain the price above $3.8811. Both of the minor resistance at $4.40 and again at $4.60 is likely to be crossed.
A minor consolidation or correction is possible if the EOS/UAD pair turns down from the current levels. If the bears sink the pair below the 50% Fibonacci retracement level of $ 3.4052 the momentum might weaken.
The positive sign is that the bulls have managed to keep the price above $22.93 for the past two days where Binance Coin (BNB) is facing a resistance in the $22.93 - $24.4588 resistance zone.
Suggesting advantage to the bulls, the moving averages are sloping up as the RSI is in the positive zone. A rally to $27.1905 above $24.4588 is possible. The next target is $32 if this level is called as the bears are likely to defend the resistance aggressively.
If the BNB/USD pair turns down from the current levels and breaks below $20.50 the bullish view will be invalidated.
These are the current price analysis of the altcoins. They help you decide which way to go with your investment.