Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: price analysis, August 31

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Market data are provided by the exchange HitBTC .

A new study from the initial supply of coins (The ICO consulting firm) Satis Group said that the price of Bitcoin (BTC) could rise to $ 98,000 within the next five years. However, the company expects a lower target for both Bitcoin Cash (BCH) and Ripple (XRP) during that period. According to the research team, Ethereum (ETH) will also lose about half its share in the next ten years.

The labor market in the blockchain and cryptocurrency industries in Asia is growing and many are switching from their traditional jobs to being part of this budding technology.

The Japanese messaging app LINE plans to launch its own cryptocurrency in September. Rakuten, the Japanese e-commerce giant, has purchased a domestic encrypted exchange, Everyco & # 39; s Bitcoin. The government of a province of South Korea, Gyeongsangbuk, plans to issue its own digital currency.

This shows that the fundamentals of the industry are improving. So, is this the right time to buy or can the cryptocurrencies fall further before they touch the bottom? Let's find out.

BTC / USD

Bitcoin has struggled to stay above the 50-day SMA in the last two days. This shows a lack of subsequent purchases at higher levels. The only positive fact is that the bulls were able to defend the 20-day EMA and the digital currency managed to close (UTC time frame) over the 50-day SMA for all three days. .

 BTC / USD "src =" https://s3.cointelegraph.com/storage/uploads/view/ceafb47dc2319081ccf6ccff56bad46f.png "title =" BTC / USD "/> </p>
<p dir= EMA of 20 days appeared, which shows that the tori have a short-term advantage: if prices burst by $ 7.127, the BTC / USD pair can accelerate and exceed the Fibonacci retracement level by 50% of $ 7,198. 3.

The Fibonacci retracement level of 61.8% of $ 7,504.68 could have a lower resistance, above which the rally can extend up to $ 7,940.89. Once prices have risen above $ 7,200, traders can raise their stops to equalize the break. For now, long positions can be maintained with the recommended stops.

Our bullish view will be void if bears sink prices below 20-day EMA, in which case, the digital currency will turn it into a bound range between $ 5,900.06 and $ 6,955.79. it will only be negative if prices remain below $ 5.900.

ETH / USD

Ethereum was recently one of the weakest cryptocurrencies we cover. He has not even touched the 20-day EMA in the last days. This shows a lack of purchasing support at current levels.

 ETH / USD "src =" https://s3.cointelegraph.com/storage/uploads/view/6a2c86198a9cb09b9cac304265699b9f.png "title =" ETH / USD "/> </p>
<p dir= Has formed a symmetrical triangle at lower levels: if bears sink prices below the triangle, the ETH / USD pair can slip to $ 249.93 and over $ 205.

If the bulls break out of the triangle, a switch to $ 358 is likely. However, the 20-day EMA and the downtrend line are formidable upward resistances, so we will have to wait for a purchase pattern to be formed before proposing any operation on it.

XRP / USD

Ripple failed to break out of the bearish trend line 2 over the past three days, but slipped below the 20-day EMA, which shows a lack of buyers at higher levels.

 XRP / USD "src =" https://s3.cointelegraph.com/storage/uploads/view/638694f3e17a8999437a724774658777.png "tit le = "XRP / USD" /> </p>
<p dir= A move over the 50-day SMA will indicate ate force and can lead to a rally at $ 0.5. The trend will change if the XRP / USD pair remains above the bearish downtrend line 1.

If bears sink virtual currency below $ 0.31, it is possible to repeat the 14-minute test. August. We do not find any reliable trustworthy performance at current levels, so we are not suggesting any negotiations on it.

BCH / USD

Bitcoin Cash has not done much in the last few days as it remains stuck between $ 500 and 20-day EMA.

 BCH / USD "src =" https://s3.cointelegraph.com/storage/uploads/view/50478ed04cd66edff06422945a949520.png "title =" BCH / USD "/> </p>
<p dir= Both moving averages are on slope, which shows that bears are still in charge. The BCH / USD pair is set to gain strength over the 50-day SMA.

On the downside, the virtual currency will become negative if the $ 500- support zone $ 473.906 breaks down, we will have to wait until the trend changes before suggesting long positions on the pair.

EOS / USD

EOS has remained above the 20-day EMA and $ 5.65 for the last three days , which is a positive sign

 EOS / USD

During the last two days, the EOS / USD pair suffered resistance during the 50-day SMA. time period UTC) above this moving average from June 8. A closure will indicate a probable change in trend. We issue the purchase recommendation made in the previous analysis.

The increase in the 20-day EMA and the 50-day SMA flattening increase the possibility of a bullish crossover if the price remains above $ 6.5. Our bullish forecast will be invalidated if the price falls by environmental resistance.

XLM / USD

Stellar continues to operate in the range of $ 0.184 to $ 0.24987525. The longer it stays in the interval, the stronger the breakout or the final breakout will be.

 XLM / USD "src =" https://s3.cointelegraph.com/storage/uploads/view/82580a6fdcea5f679a9372f14bcdd53c .png "title =" XLM / USD "/> </p>
<p dir= The XLM / USD pair it will complete a downward descending triangle pattern if it breaks below the support level of $ 0.184.

On the other hand, the bearish pattern will fail if the bulls come out of the downtrend line, since the bottom of the $ 0.184 has managed to resist two previous occasions in 2018, we expect a strong recovery after the bulls have dropped from the range on August 27.

LTC / USD

After failing the interval within On 28 and 29 August, Litecoin is currently trying to maintain support for the 20-day EMA, while both moving averages are flattening, which shows that the selling pressure has shrunk and a change in the trend is likely [19659004]  LTC / USD

The first sign of strength it will be when the bulls break out and they will hold above the environmental resistance at $ 62,319. Short-term traders may remain on the long side once the virtual currency climbs above $ 64. Such a move could meet 50-day SMA resistance to the bearish trend line and $ 74.

We will become bullish on the LTC / USD pair after it will break out and support over $ 74 for three days. Positional operators should wait for further confirmation before starting any long position.

ADA / USD

Cardano failed to break out of the head resistance on 29 August and extended his stay in the range between $ 0.083192 and $ 0.111843.

 ADA / USD "src =" https://s3.cointelegraph.com/storage/uploads/view/8bbef99c1489b6c04e9412a70a752e12.png "title =" ADA / USD "/> </p>
<p dir= Currently prices have slipped under the 20-day EMA. Flattening moving averages point to a probable consolidation in the short term

A 20-day EMA breakdown will bring the ADA / USD pair to the 50-day SMA if the bulls are able to sustain over $ 0.13.

Our neutral position will be invalidated if the bears come down by $ 0.083192. We will wait for a new purchase configuration to be formulated before proposing any operation.

IOTA / USD

IOTA withdrew from the resistance zone between the 50-day SMA and the downtrend line, but found support c lost for the EMA of 20 days.It was not possible to reach $ 0.82 where we had suggested to book partial profits.

 IOTA / USD "src =" https: / /s3.cointelegraph.com/storage/uploads/view/42cb9ba744aca2407adafa05e863d2d6.png "title =" IOTA / USD "/> </p>
<p dir= The IOTA / USD pair will continue to be sold between $ 0.815 and $ 0.9150. After this area, the rally can extend up to $ 1.24.

On the downside, the 20-day EMA and $ 0.5750 will act as strong support: both the moving averages have flattened, which shows that the sale has eased and that a trend change is likely therefore, operators can continue to maintain existing long positions with recommended stops.

XMR / USD

Monero has held over 20 days in the last four days and is currently trying to get out of the horizontal resistance at $ 109.22.

 XMR / USD "src =" https: // s3 .cointelegraph.com / storage / uploads / view / 35401c3dd99474cf3dea4e93a6cf5f49.png "title =" XMR / USD "/> </p>
<p dir= The area between 39, the current trend and the downtrend line will likely act as a stiff resistance.

The XMR / USD has not convincingly broken out of the bearish trend since it was completed in December last year. tors are able to close (UTC time frame) above this resistance, indicates a probable change in trend.The flattening moving averages indicate that the bears are losing their grip

Therefore, we maintain the purchase recommendation given in the previous analysis. [19659004] Market data is provided by the HitBTC exchange Analysis charts are provided by TradingView.

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