Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, August 22



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Market data are provided by the exchange HitBTC .

On August 21st at 1:00 AM UTC Time, Bitcoin prices increased, breaking environmental resistance at $ 6617.5. Within 20 minutes, Bitcoin rose from $ 6459.5 to $ 6827.5, exceeding $ 6888.32, an hour later.

The move to the top coincided with the scheduled maintenance on BitMEX and seems to have been a short-term transaction. However, a breakout of more than $ 6617.5 is likely to have triggered short-term disruptions that reached a four-month high on August 21st. However, it is still too early to confirm whether the trend has changed or not.

The Winklevoss twins have founded a self-regulatory organization, the Virtual Commodity Association, which aims to improve transparency among its members. Currently, it has four members, who will meet in September to establish the rules and guidelines of the association.

This is another positive step that could appease some of the US Securities and Exchange Commission (SEC)'s apprehensions about a Bitcoin exchange-traded fund (ETF). Two proposals from Bitcoin's ETF will be reviewed this week and some others in September. The SEC decision will decide the next short-term trend for cryptocurrencies.

Should traders start long positions or should they stay on the sidelines? Let's find out.

BTC / USD

On August 21, the bears attempted to sink Bitcoin but the bulls bought the decline to $ 6,000, which is a positive sign. Today, the break in head resistance of $ 6,617.5 led to a peak at $ 6,888.32, which triggered our proposed purchase in the previous analysis at $ 6,750. However, the bulls could not resist the higher levels.

 BTC / USD "src =" https://s3.cointelegraph.com/storage/uploads/view/08bfe0aaa218853c3d32d5f27c1bd268.png "title =" BTC / USD "/> </p>
<p dir= Bears pushed prices below the critical support at $ 6617.5, which shows that short-sellers are jumping on any short-term upside. Probably the BTC / USD pair will witness some other day of Bears making another attempt at break down the critical support zone of $ 5,900- $ 6,000 in the coming days. If this support breaks down, our hypothesis of a wide range on the pair will be invalidated.

the rise, $ 6,617.5 is the critical level at which pay attention because the downward line of the descending triangle, the horizontal resistance and the 20-day EMA all converge at this point: if prices remain above this level, it is likely that the bulls will make another attempt to interrupt the 50-day SMA.

Suggested We are for traders to keep the long ioni position with the stop loss at $ 5,900. They can add the remaining 50% of the position after the cryptocurrency has exceeded $ 7,000.

ETH / USD

Ethereum is in a downward trend with both moving averages sloping downwards. It's hard to get back to the 20-day EMA, which is a bearish signal.

 ETH / USD "src =" https://s3.cointelegraph.com/storage/uploads/view/62a2a27c8e933e496297aef37100ba5f .png "title =" ETH / USD "/> </p>
<p dir= If the bears manage to breaking under the support zone of $ 249.93 – $ 269.78, the ETH / USD pair may fall to $ 200.

On the upside, a 20-day EMA breakout may result in a rally to $ 358, which will act as a stiff resistance. The pair has not broken out of the 50-day SMA since May 24 of this year, so a 50-day SMA break will indicate a trend change.

Traders should wait the formation of a fit buy before starting any long position.

XRP / USD

The pullback on Ripple is facing resistance to the 20-day EMA and the bulls are struggling to stay above the moving average If this level is exceeded, the bulls will again have to face the selling pressure at the trend line r lowered 2 and higher than the 50-day SMA.

 X RP / USD

Once the bulls have passed the 50-day SMA, the XRP / USD can rise up to $ 0.5, where it will again have to face resistance from the downtrend line 1.

The bulls are defending the $ 0.31 level on the downside. If this level breaks down, it is likely to fall to $ 0.27255 and then to a minimum of $ 0.24508

We will wait for some purchases to return before becoming bullish.

BCH / USD

Bitcoin money was traded between $ 500 and the 20-day EMA from August 15th. If bears sink prices below $ 500, a new $ 473.9060 line test is likely.

 BCH / USD "src =" https: //s3.cointelegraph .com / storage / uploads / view / 257516ed9977551ed34872d887adb7c6.png "title =" BCH / USD "/> </p>
<p dir= Other part, if the bulls leave the 20-day EMA, a rally towards the bearish trend line is likely to be positive. If the BCH / USD pair is kept above the downtrend line for a couple of days

Until then, it is better to stay on the sidelines

EOS / USD

EOS broke the downtrend line, but could not cross the 20-day EMA: the bears again pushed prices below the downtrend line, while support is in the $ 3,88723 $ 4.1778 zone.

 EOS / USD "src =" https: // s3.cointelegraph.com/storage/uploads/view/dc9de0c7bc8008cf9ad001e2a0d61b6d.png "title =" EOS / USD "/> </p>
<p dir= The EOS / USD has not broken out of the 50-day SMA since 10 June. Therefore, it is likely to act as a strong resistance. Once the bulls have climbed the 50-day SMA, a rally is possible for $ 9 and then $ 11.6.

Our purchase recommendation made in the previous analysis was canceled. We will wait until the price exceeds the SMA of 50 days before proposing any operation.

XLM / USD

Although the bulls have managed to defend the long-term support line by $ 0.184, they have not been able to push Stellar over $ 0.25 since August 5

 XLM / USD "src =" https://s3.cointelegraph.com/storage/uploads/view/f37bf6976d7a5093ecc7f97d959a0dcd.png "title =" XLM / USD "/> </p>
<p dir= The XLM / USD pair has a history of consolidation near the bottom of the interval before embarking on an upward move.We see a similar setup develop this time.

The likelihood of a rally will increase if the bulls push prices above $ 0.25 Therefore, we maintain the purchase recommendation made on August 15. Our hypothesis will be denied if bears break below critical support at $ 0.184.

LTC / USD

Litecoin is consolidating into a narrow range of $ 49.318- $ 62.319 from August 10. Both moving averages are still downhill, which shows the va to be ars have.

 LTC / USD "src =" https://s3.cointelegraph.com/storage/uploads/view/54b1987a714a728cb3522c46fda63d42.png "title =" LTC / USD "/> </p>
<p dir= A breakout of the range is will translate into a rally to the downtrend line, which is just above the 50-day SMA We expect strong resistance at that level.The first sign of a change in trend will be when the LTC / USD pair will keep above of the downtrend line

If bears break down the interval, the decline may extend to $ 40. Since the virtual currency has been in a strong downtrend in 2018, we will have to wait for a background model before suggesting a long position in it.

ADA / USD

Cardano struggled to overcome the environmental resistance of $ 0.111843. He remained stuck between $ 0.083192 and $ 0.112598 in the last eight days. [19659004]  ADA / USD

If the bulls leave the EMA of 20 days and from the $ 0.111843 line, a rally to the downtrend line is likely to occur where it may be facing stiff resistance. $ 0.15, will indicate a likely trend change

On the downside, if bears sink the ADA / USD pair below $ 0.083192, it is likely to fall to $ 0.078.

We will have to wait for the trend to change first by suggesting any long positions on it.

XMR / USD

Monero has negotiated near the 20-day EMA in the last five days, which is a positive sign. If the bulls are forced out of the resistance, a 50-day SMA rally is likely, which is close to the resistance of the long-term trend line.

 XMR / USD "src =" https://s3.cointelegraph.com/stor age / uploads / view / 9885ec16b7de55a4de856cd2c843f894.png "title =" XMR / USD "/> </p>
<p dir= If the XMR pair / USD breaks below $ 91, a new minimum test at $ 76,074 is probable.While the trend remains negative, the 50-day flattening SMA points to a probable interval-related action for a few days. [19659004] We will become positive on the cryptocurrency after the downtrend line has dropped to $ 120. We do not find any reliable buying pattern at current levels, so we suggest staying on the sidelines.

IOTA / USD

IOTA has consolidated into a narrow band of $ 0.4628- $ 0.5750 over the past five days, even the 20-day EMA is just above the interval.

 IOTA / USD "src = "https://s3.cointelegraph.com/storage/uploads/view/172644315d3262249cee7af7649cd5c9.png" title = "IOTA / USD" /> </p>
<p dir= A breaking the 20-day EMA can result in a 50-day SMA rally, which is close to $ 0.85, offering an opportunity for quick short-term exchange.

Traders can buy the IOTA / USD pair at term (UTC timeframe) above $ 0.58 with the stop loss at $ 0.46. Profits can be booked closer to the $ 0.82 – $ 0.85 range. We expect strong resistance at $ 0.9150.

If the virtual currency is reduced by $ 0.4628, it may fall to the low of August 14th to $ 0.4037.

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