BTC / USDT
The bulls failed to push the value above the overhead resistance of $ 50,000 on Aug 29, suggesting the bears are aggressively defending the extent. Bitcoin created a Doji candlestick sample on Aug 29, which at that point has turned into the downside.
The fact that the Relative Energy Index (RSI) does not climb back into the symmetrical triangle indicates a weak point. If bears pull below the 200-day easy transfer common ($ 46,065), the BTC / USDT pair could fall to the nearest support at $ 42,451.67.
This phase should be a strong support. If the value rebounds from these ranges, the pair can hold in a spread between $ 42,451.67 and $ 50,500 for several days.
A breakout and close below $ 42,451.67 indicate the beginning of a deeper correction. The pair could then hit $ 36,670.
This unfavorable view can be invalidated if the value starts from the current state and is above USD 50,500. Such a transfer could open the gates to a rally to $ 60,000.
ETH / USDT
Ether (ETH) fell again from the overhead resistance zone at $ 3,335 to $ 3,377.89 on August 29. This means that the bears will aggressively defend the overhead zone.
The bulls have not given up, however, and are defending the 20-day exponential transfer common ($ 3,139) as evidenced by the robust rebound this period shows. If the bulls lift the value above the overhead zone, the ETH / USDT pair could resume its bullish transfer with a target of $ 3,670 then $ 4,000.
On the flip side, if bears pull below the 20-day EMA, the ETH / USDT pair could break out at $ 3,000. A recovery from this period could keep the pair in a spread between $ 3,000 and $ 3,377.89 for an additional few days.
A deeper correction could begin if the bears pull, holding below the $ 3,000 breakout mark. This could trigger a decline to the 200-day SMA ($ 2,389).
ADA / USDT
Cardano (ADA) moved down from $ 2.95 on Aug 28, suggesting the bears are aggressively defending overhead resistance at $ 2.97. This was taken from a Doji candlestick sample on August 29th, indicating indecision between bulls and bears.
At this point in time, the uncertainty increased with the formation of the inside-day candlestick sample. If sellers drop the ADA / USDT pair below the August 29 intraday low of $ 2.71, the pair could slide back into breakout at $ 2.47. A robust rebound from these areas could keep the pair in a spread between $ 2.47 and $ 2.97 for several days.
While the rising 20-day EMA ($ 2.44) suggests a bonus for customers, the unfavorable divergence within the RSI suggests slowing momentum. A breakout and shutdown below USD 2.47 will mark the beginning of a deeper correction. The pair can then drop to $ 2.20.
The bulls will have to push and hold the value above the $ 3 psychological level to sign the uptrend resumption.
BNB / USDT
The cops’ failure to get Binance Coin (BNB) above the 19 intraday mark. The altcoin has fallen and will now breakout at $ 433.
The bulls tend to aggressively defend the assist zone between the 20-day EMA ($ 445) and the breakout period at $ 433. A robust rebound from this zone will recommend that sentiment remain constructive and the bulls buy on dips.
A breakout and close above USD 520 suggests a resumption of the uptrend. The BNB / USDT pair could then rise to $ 600. Conversely, the pair could fall to the 200-day SMA ($ 368) if bears push below $ 433.
XRP / USDT
XRP rebounded from the $ 1.07 support on August 27, but the bulls were unable to push the value down onto the downtrend line. This means that the demand at the next level will dry up. The bears are currently trying to bring the value down to the vital support of $ 1.07.
Movement in value over the past few days has formed a descending triangle sample that completes on a breakout and closes below $ 1.05. This setup has a goal of $ 0.75. The flattening 20-day EMA (1.10) and the RSI near the middle suggest that the bulls drop their hold.
Conversely, if the value bounces off the USD 1.05 support and breaks above the downtrend line, the bearish set-up can be reversed. Failure of a bearish sample is a bullish signal. The pair could then begin its rally to $ 1.35, which is followed by a move higher to $ 1.66.
DOGE / USDT
Dogecoin (DOGE) rose above the overhead resistance at $ 0.29 on August 27, but the bulls failed to carry the upper ranges. The speed fell back below $ 0.29 on August 28.
The bears will now attempt to break below the quick support at $ 0.26. If profitable, the DOGE / USDT pair could fall to the crucial support at $ 0.21.
The flat 20-day EMA ($ 0.28) and the RSI near the center indicate stability between supply and demand.
This equilibrium will shift in favor of the bulls if they push and hold the value above the downtrend line. The pair could then rise to $ 0.35 and later to $ 0.45.
SOL / USDT
Solana (SOL) is on a strong uptrend. The uptrend ended on August 29th, however the long end of the daily candle confirmed that the bulls bought when costs were down. Consumers have pushed value back to a brand new all-time high at this point.
If the bulls hold above $ 100, the SOL / USDT pair could begin its journey towards the following destination at $ 122.09. While momentum is robust, the RSI above 83 suggests a short-term overheating of the rally.
The primary signal of a vulnerability may be a breakout and depth below $ 90. This means that traders are aggressively generating revenue. The pair could then adjust to the 20-day EMA (USD 72) which tends to act as solid support. A break and an in-depth support under this assist signal a feasible turnaround.
DOT / USDT
The uptrend line in Polkadot (DOT) acts as resistance. An attempt by the bulls to push the value back above that line failed on August 27th and 28th, suggesting that traders may close their positions on rallies.
If bears pull below the 20-day EMA ($ 24.48), the DOT / USDT pair could see additional boost. The pair could then fall to the stable assist at $ 18. Such a transfer means that the couple could lengthen their variance movement by several days.
The gradually flattening 20-day EMA and the RSI just above the middle suggest that the bulls drop their hold. To get the higher hand, the bulls may want to push and hold the level above $ 28.60. It will fill a V-bottom sample with a target of $ 46.83.
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UNI / USDT
Uniswap (UNI) bounced off the $ 25 support on August 27 and rose above the transfer average, but the bulls were unable to hold the upper ranges. This means that the bears have not given up and are promoting in rallies.
At this point, the value fell again below the wire transfer averages and sellers will now try to push the value below the $ 25 support. In this case, the UNI / USDT pair completes a small descending triangle sample. This bearish setup has a target of $ 18.74.
Alternatively, if the value bounces off the $ 25 support and breaks above the downtrend line, the bearish setup may be invalidated. The pair could then climb to $ 30. The bulls need to push and hold the value above this resistance to sign the start of a brand new uptrend.
LUNA / USDT
The Terra Protocol’s LUNA rebounded to a brand new all-time excess on Aug 29, but traders took advantage of that surge to generate revenue. However, the value was down at this point but rebounded significantly from $ 32, suggesting that the bulls had turned previous resistance into support.
Consumers will now seek to push the value above the all-time high of $ 36.89. In the event that it does, the LUNA / USDT pair may start their journey to the next vacation spot at $ 43 and later at $ 50.
Contrary to this assumption, the bears will attempt to lower the pair to the 20-day EMA ($ 27.23) if the $ 36.89 level drops again.
A robust rebound from this support will recommend that sentiment remain constructive and traders buy on dips. The bulls will then try again to resume the upward transfer. The bears may want to pull and hold below the 20-day EMA to weaken the bullish momentum.
The views and opinions expressed are those of the author only and do not essentially represent the views of Cointelegraph. Every financing and buying and selling movement harbors risks. When choosing, you need to conduct your individual analysis.
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