BTC / USDT
Bitcoin price dropped from $24245 on August 8 and fell to the 20-day exponential moving average ($22,966) on August 9. Resistance is at $24668.
BTC/USDT daily chart. Source: TradingView
If they succeed, the BTC/USDT pair could gain momentum and rise to $28,000. The bears might create a strong resistance at this level but if the bulls overcome this barrier, the pair could rise to $32,000. The gradually bullish 20-day EMA and the Relative Strength Index (RSI) are in positive territory, indicating that the path of least resistance is to the upside.
Conversely, if the price drops from $24668, the bears will once again attempt to dump the pair below the 20-day moving average. If they manage to do so, the pair could drop to the 50-day simple moving average (SMA) ($21,708), and a break below this level could tilt the advantage in favor of the bears.
ETH / USDT
Ether fell from $1818 on August 8, but the bears were unable to sink the price below the 20-day moving average ($1637). This indicates strong demand at lower levels.
ETH/USDT daily chart. Source: TradingView
The ETH/USDT pair bounced off the 20-day moving average on August 10 and cleared the upper barrier at $1,818. If the buyers maintain the price above this level, the pair may rise to the psychological level of $2000 and then to $2200. The bullish moving averages and the RSI in the positive area indicate that the bulls have the upper hand.
This uptrend will be nullified if the price breaks down and falls below the 20 day EMA. If that happens, the pair could fall towards the 50-day simple moving average ($1388). This may delay the start of the next phase of the upward movement.
BNB / USDT
BNB dropped from the upper resistance area at $338 to $350 on August 8, but the bears were unable to sustain the low levels on August 10. This indicates that the bulls are aggressively buying the dips.
BNB/USDT daily chart. Source: TradingView
The bulls will try again to clear the upper area. If they succeed, the BNB/USDT pair could gain momentum and move higher towards $414. Although bullish moving averages indicate an advantage for buyers, the overbought area on the RSI indicates that a slight pullback or consolidation is possible in the near term.
If the price drops from the upper zone, the first support is at $308. The bears will have to plunge the price below this level to challenge the 20-day moving average ($296). This is an important level to watch as a breakout and a close below it could bring the pair down to $275.
XRP / USDT
The bulls failed to push XRP above the general resistance at $0.39 on August 8. This attracted a sharp sell-off by bears who pulled the price below the 20-day moving average ($0.37) on August 9.
XRP/USDT daily chart. Source: TradingView
The simple positive is that the bulls bought the dip and pushed the price back above the 20-day moving average on August 10th. Buyers will once again attempt to push the price above the general resistance area between $0.39 and $0.41. If they succeed, the XRP/USDT pair could rise to $0.48 and later to $0.54.
Contrary to this assumption, if the price breaks down from the upper resistance and breaks below the 50-day SMA ($0.35), it will indicate that the pair may remain within the $0.30-$0.39 range for a few more days.
ADA / USDT
Cardano (ADA) broke off from the upper resistance at $0.55 on August 8 and fell to the 20-day moving average ($0.51) on August 9, indicating that the bears continue to defend the general resistance aggressively.
ADA/USDT daily chart. Source: TradingView
The ADA/USDT pair bounced sharply from the 20-day moving average on August 10, indicating that the bulls are aggressively buying the dips. If the buyers cross the upper barrier, the pair could start its northward march to $0.63 and then to $0.70.
Contrary to this assumption, if the price drops again from $0.55, the probability of a break below the 20-day moving average increases. If that happens, the pair may stay within a specific range between $0.45 and $0.55 for a few more days.
SOL / USDT
The bulls tried to push Solana (SOL) to the upper resistance at $48 on August 8, but the bears had other plans. They halted the retracement attempt at $44 and pulled the price back below the 20-day moving average ($40) on August 9.