This site uses cookies. Browsing the site, you agree to the use of cookies. If you need more information, please visit the Cookies Policy page
Cryptocurrencies: 5310 / Markets: 30050
Market Cap: $ 338 142 411 833 / 24h Vol: $ 84 365 133 258 / BTC Dominance: 58.3097%

Н News

Price analysis 8/31: BTC, ETH, XRP, LINK, BCH, LTC, BSV, CRO, BNB, EOS

528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8yYWY4NDBlODMxMjk1YmVmZjAyMmJjYzFhNmZlMDU2ZC5qcGc=.jpg

Bitcoin and altcoins have bounced off their range lows, but they are likely to encounter resistance at higher levels.

The U.S. stock market is on track to clock its best August performance since 1984. Meanwhile, Bitcoin (BTC) is attempting a positive close for the month after having declined consecutively in August 2018 and August 2019. However, gold futures and the U.S. dollar index (DXY) have not been in favor, as both could end the month in the red.

Berkshire Hathaway disclosed a 5% stake each in five leading Japanese trading companies, and just a few days back, the company announced that it had a stake in a gold mining company.

Daily cryptocurrency market performance

Daily cryptocurrency market performance. Source: Coin360

Max Keiser of the Keiser report believes that these recent purchases by Berkshire are an indication that Buffett is diversifying away from the dollar. Hence, Keiser expects Bitcoin, gold and silver to make new all-time-highs in the near term.

While anything is possible in the markets, does Bitcoin’s chart show bullish setups that support the view of a sharp rally in the short term?

Let’s analyze the charts to find out!

BTC/USD

Bitcoin broke out of the 20-day exponential moving average (EMA) ($11,559) on Aug. 30, which is a positive sign. The bulls will now try to propel the price above the $12,113.50–$12,460 resistance zone.

BTC/USD daily chart

BTC/USD daily chart. Source: TradingView

If they succeed, it will signal the possible resumption of the uptrend with the next target objective at $13,000 and then $14,000.

However, the 20-day EMA is flat, and the relative strength index is just above the midpoint, which suggests a balance between supply and demand.

If the price turns down from the overhead resistance, the BTC/USD pair could remain range-bound between $12,113.50 and $11,000 for a few days.

A break below $11,000 will indicate weakness, and the pair will turn negative on a drop below the critical support zone of $10,400 to $10,000.

ETH/USD

The bulls pushed Ether (ETH) above the 20-day EMA ($400) on Aug. 28 and followed that up with a strong up-move on Aug. 30, which brought the price above the $415.634 resistance.

ETH/USD daily chart

ETH/USD daily chart. Source: TradingView

With this rise, the 20-day EMA has again started to slope up, and the RSI has broken out of a downtrend line, which suggests that the bulls are in command.

If they can propel and sustain the ETH/USD pair above $446.479, the uptrend is likely to resume with the first target at $480 and then $550.

Contrary to this assumption, if the pair turns down from the overhead resistance, it could spend some more time in consolidation. The momentum will weaken if the bears sink the price back below the critical support at $366.

XRP/USD

The bulls pushed XRP above the 20-day EMA ($0.28) on Aug. 30, which suggests strong buying at lower levels. The 20-day EMA has flattened out, and the RSI has risen above the 50 level, which suggests that the selling pressure has reduced.

XRP/USD daily chart

XRP/USD daily chart. Source: TradingView

If the bulls can sustain the price above the 20-day EMA, a move to $0.295 and then to $0.326113 is possible.

Contrary to this assumption, if the XRP/USD pair again dips back below the 20-day EMA, the bears will try to sink the price below the 50-day simple moving average ($0.26). If they succeed, the decline could extend to the 61.8% Fibonacci retracement level of $0.241068.

LINK/USD

Chainlink's LINK broke above the symmetrical triangle on Aug. 29, which suggests buying at lower levels, but the bears are not willing to give up without a fight. They are currently attempting to stall the up-move at $17.6738.

LINK/USD daily chart

LINK/USD daily chart. Source: TradingView

However, the 20-day EMA ($15) is sloping up, and the RSI is in the positive territory, which suggests that bulls have the upper hand.

If the bulls do not give up much ground, the possibility of a break above $17.6738 increases. Above this level, a retest of $20.1111 is likely. If the bulls can push the price above this level, the uptrend is likely to resume.

Contrary to this assumption, if the bears sink the LINK/USD pair below the 20-day EMA, a deeper decline to the 50-day SMA ($11.72) is possible.

BCH/USD

Bitcoin Cash (BCH) has bounced off the $260 support but is facing resistance at $280. The 20-day EMA ($282) is also placed just above this resistance; hence, the bears will try to defend this level aggressively.

BCH/USD daily chart

BCH/USD daily chart. Source: TradingView

If the BCH/USD pair turns down from the current levels, the bears will once again try to break below the $260 support. If they succeed, a decline to $245 and then to $232 is possible.

Currently, the 20-day EMA has flattened out, and the RSI is just below the midpoint, which suggests a balance between supply and demand. However, if the bulls push the price above the 20-day EMA, a move to $300 and then to $326.30 is likely.

LTC/USD

Litecoin (LTC) soared above the 20-day EMA ($59.24) and the downtrend line on Aug. 30, which suggests that the bulls are back in the game. However, the bears are currently attempting to stall the relief rally at the minor resistance of $64.

LTC/USD daily chart

LTC/USD daily chart. Source: TradingView

If the LTC/USD pair turns down from the current levels, a drop to the 20-day EMA is possible.

The 20-day EMA has started to turn up, and the RSI has jumped into the positive territory, which suggests a minor advantage to the bulls. If the pair rebounds off this support, the bulls will once again attempt to push the price above the $64–$68.9008 resistance zone.

This bullish view will be invalidated if the bears sink the price below the 20-day EMA. In such a case, a drop to the 50-day SMA ($54.72) is possible.

BSV/USD

The recovery in Bitcoin SV (BSV) is currently facing resistance at the breakdown level of $200. Both moving averages are placed just above this resistance; hence, the bears are likely to defend this level aggressively.

BSV/USD daily chart

BSV/USD daily chart. Source: TradingView

The 20-day EMA ($201) is sloping down and the RSI is in the negative zone, which suggests that the bears have the upper hand.

If the BSV/USD pair turns down from the current levels, the bears will again attempt to sink the price below the $180 support. If they succeed, the decline could extend to $160 and then to $146.20.

Contrary to this assumption, if the bulls can push the price above the 50-day SMA ($203), a move to the downtrend line is possible. A break above this resistance will suggest that the bulls are attempting a comeback.

CRO/USD

Crypto.com Coin (CRO) broke above the $0.176596 overhead resistance on Aug. 30, which is a bullish sign. The bulls will now try to push the price to $0.191101, and if this level is scaled, a move to $0.20 is possible.

CRO/USD daily chart

CRO/USD daily chart. Source: TradingView

The 20-day EMA ($0.169) is sloping up, and the RSI has broken above the resistance at 65, which shows that bulls have the upper hand.

However, the bears are unlikely to give up without a fight. They will try to pull down the price back below $0.176596 and trap the aggressive bulls. If they succeed, a drop to the 20-day EMA is possible. A break below this support could result in a fall to $0.154322.

If the CRO/USD pair rebounds off the 20-day EMA, the bulls will once again attempt to resume the uptrend. Hence, this is the critical support to watch out for on any dips.

BNB/USD

Binance Coin (BNB) is currently facing resistance at the $23.91–$24.4588 zone, which shows a lack of demand at higher levels.

BNB/USD daily chart

BNB/USD daily chart. Source: TradingView

However, if the BNB/USD pair rebounds off the 20-day EMA ($22.53), the bulls will make one more attempt to push the price above the $23.91–$24.4588 resistance zone. If they succeed, a rally to $27.1905 is possible.

Conversely, if the bears sink the price below the 20-day EMA, a drop to the $20.5710 support is likely. The bulls are likely to defend this support aggressively. If they succeed, the pair could consolidate between $23.91 and $20.571 for the next few days.

EOS/USD

EOS broke above the 20-day EMA ($3.22) on Aug. 30, which suggests that the bears are losing their grip. If the bulls can sustain the price above the 20-day EMA, a move to $3.4275 and then to $3.63 is possible.

EOS/USD daily chart

EOS/USD daily chart. Source: TradingView

However, if the EOS/USD pair turns down from $3.4272, a few days of consolidation is possible. The flat 20-day EMA and the RSI just above the midpoint suggest a balance between supply and demand.

Contrary to this assumption, if the pair turns down from the current levels and plummets below the 20-day EMA, a drop to the 50-day SMA ($3.03) and then to $2.83 is possible. A break below this level will be a huge negative.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Source

  • 14.09.20 17:15 Юрий Ник

    Шалом

  • 14.09.20 17:20 Захар Трофимов

    Отличные эфиры у вас

  • 14.09.20 17:21 Попков С.А.

    ​здарова бандиты

  • 14.09.20 17:30 Серега Бумер

    Привет из Москвы

  • 14.09.20 17:35 Анастасия

    Давайте биткоин по 20к

  • 14.09.20 17:40 Лысый Боб

    Подарите книгу)))

  • 14.09.20 17:41 Светлана П

    Hello

  • 14.09.20 17:48 Николаев

    Понеслась

  • 14.09.20 17:53 Щука А

    Слава эфиру

  • 14.09.20 17:58 Захар Трофимов

    Надо изучать Defi , интересно

  • 14.09.20 17:59 Павел Павлов

    15$. профита всем

  • 14.09.20 18:01 Попко Колян

    Давайте биткоин по 20к

  • 14.09.20 18:08 Попков С.А.

    Круто

  • 14.09.20 18:13 Алексей С.

    ​гуд

  • 14.09.20 18:18 Попков С.А.

    Как успехи?

  • 14.09.20 18:24 Попко Колян

    👍👍👍👍👍

  • 14.09.20 18:26 Егор Шетюк

    Понеслась

  • 14.09.20 18:26 Захар Трофимов

    15$. Тюмень рулит😁

  • 14.09.20 18:35 Константин В.В

    Биток и эфир держу до лучших времён)

  • 14.09.20 18:38 Попко Колян

    ​ДОБРОГО

  • 14.09.20 18:43 Даниил

    Рига смотрит

  • 14.09.20 18:46 Вадим Никулин

    Всегда смотрю Вас!

  • 14.09.20 18:55 Захар Трофимов

    Минск на проводе

  • 14.09.20 18:56 Щука А

    Спасибо за ваш труд

  • 14.09.20 19:01 Никита

    Хай

  • 14.09.20 19:06 Вячеслав Левков

    Отложил биток на пенсию

  • 14.09.20 19:13 Попков С.А.

    Отличные эфиры у вас

  • 14.09.20 19:20 Щука А

    Привет из Москвы

  • 14.09.20 19:25 Алексей С.

    Всем РЕСПЕКТ

  • 14.09.20 19:27 Николай

    Вперед криптаны

  • 14.09.20 19:34 КРИПТАН

    Слышно гуд

  • 14.09.20 19:36 Егор Шетюк

    Подарите книгу)))

  • 14.09.20 19:44 Светлана П

    миллионерам привет

  • 14.09.20 19:48 Вячеслав Левков

    Крипта скам=)

  • 14.09.20 19:53 Тоха

    Понеслась

  • 14.09.20 19:57 Носов А.А

    Рига смотрит

  • 14.09.20 20:04 Прокоп

    Донаты принемаете?

  • 14.09.20 20:06 Носов А.А

    спасибо

  • 14.09.20 20:12 Юрий Ник

    Тюмень рулит😁

  • 14.09.20 20:18 Даниил

    миллионерам привет

  • 14.09.20 20:18 Нина

    17$. Биток и эфир держу до лучших времён)

  • 14.09.20 20:24 Никита

    18$. Задонатю вам баблишка)

  • 14.09.20 20:25 Вячеслав Левков

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 20:26 Павел Скоровойтов

    Слава эфиру

  • 14.09.20 20:35 Носов А.А

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 20:36 Тоха

    Шалом

  • 14.09.20 20:44 Лена

    Биток и эфир держу до лучших времён)

  • 14.09.20 20:47 Нина

    ​ку-ку)

  • 14.09.20 20:53 Попков С.А.

    Все good. Ростем потихоньку и падаем, как всегда

  • 14.09.20 20:58 Санек

    Всем РЕСПЕКТ

  • 14.09.20 21:01 Славка Орехов

    Спасибо за ваш труд

  • 14.09.20 21:10 Ваня А,

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 21:13 Нина

    ​ДОБРОГО

  • 14.09.20 21:20 Никита

    Привет парни!

  • 14.09.20 21:25 Егор Шетюк

    Hello

  • 14.09.20 21:27 Вячеслав Левков

    ​ку-ку)

  • 14.09.20 21:33 Попков С.А.

    Тамбов с вами братва

  • 14.09.20 21:37 Серега Бумер

    Слава эфиру

  • 14.09.20 21:42 Ваня А,

    Подарите книгу)))

  • 14.09.20 21:50 Павел Скоровойтов

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 21:54 Захар Трофимов

    Привет парни!

  • 14.09.20 21:56 Санек

    Отложил биток на пенсию

  • 14.09.20 22:03 Носов А.А

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 22:03 Попков С.А.

    14$. Надо изучать Defi , интересно

  • 14.09.20 22:09 Николай

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 22:14 Вадим Никулин

    Я из РБ слежу за вами давно💰

  • 14.09.20 22:17 Николай

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 22:24 Лена

    ​Я снова с вами)))

  • 14.09.20 22:28 Носов А.А

    Отложил биток на пенсию

  • 14.09.20 22:31 Серега Бумер

    Тюмень рулит😁

  • 14.09.20 22:40 Светлана П

    Сморгонь 👍

  • 14.09.20 22:43 Вадим Никулин

    Отложил биток на пенсию

  • 14.09.20 22:46 Николаев

    Круто

  • 14.09.20 22:53 Ваня А,

    Люблю ваши трансляции, вы крутые!

  • 14.09.20 22:58 Вячеслав Левков

    Биток вперед!!!

  • 14.09.20 23:05 Носов А.А

    ​Привет всем с Украины!

  • 14.09.20 23:06 Носов А.А

    12$. ​здарова бандиты

  • 14.09.20 23:09 Константин В.В

    Отложил биток на пенсию

  • 14.09.20 23:14 Прокоп

    Екатеринбург на связи

  • 14.09.20 23:18 Николаев

    Круто

  • 14.09.20 23:25 Тоха

    ​здарова бандиты

  • 14.09.20 23:27 Попков С.А.

    Отличные эфиры у вас

  • 14.09.20 23:33 Лена

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 23:39 Николаев

    Доброе утречко

  • 14.09.20 23:45 Лена

    Как успехи?

  • 14.09.20 23:49 Павел Скоровойтов

    ​ку-ку)

  • 14.09.20 23:51 Ваня А,

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 23:57 Попков С.А.

    Хомяки тут

  • 15.09.20 00:01 Лысый Боб

    Привет, пацаны. Слышно, видно хорошо

  • 15.09.20 00:07 Санек

    Слава эфиру

  • 15.09.20 00:12 Щука А

    Екатеринбург на связи

  • 15.09.20 00:14 Нина

    23$. Лайк

  • 15.09.20 00:16 Юрий Ник

    Вперед криптаны

  • 15.09.20 00:25 Лена

    Биток и эфир держу до лучших времён)

  • 15.09.20 00:26 Попков С.А.

    Как успехи?

  • 15.09.20 00:33 Попко Колян

    Я из РБ слежу за вами давно💰

  • 15.09.20 00:40 Даниил

    миллионерам привет

  • 15.09.20 00:50 Константин В.В

    11$. Круто

  • 17.09.20 15:31 Trident

    купил билет на семинар который изначально планировался в субботу.... в пятницу не смогу послушать, гле посмотреть запись?

  • 24.09.20 12:08 Серго1985

    Как бабло зарабатывается??

To join the Chat, you need a free pro-blockchain.com account. Enter Registration