Technical analysis (BTC, ETH, XRP, BCH, EOS) Monday, August 13, 2018

Technical analysis (BTC, ETH, XRP, BCH, EOS) Monday, August 13, 2018

The general overview of Top-5 crypto coins for today — rise and fall and possible trends.

BTC/USDT

  • Bitcoin price is trending below a short-term descending trend line as it hovers at the long-term floor.
  • Traders are likely waiting for the next catalysts to decide which direction the breakout could take.
  • Technical indicators appear to be suggesting a slowdown in bullish momentum soon.

Bitcoin price is still trending lower on the short-term time frame but buyers are defending the long-term floor.

ETH/USDT

  • ETH price recovered a few points after trading as low as $304.26 against the US Dollar.
  • There is a major bearish trend line in place with resistance at $320 on the hourly chart of ETH/USD.
  • The pair is struggling to move above the $320 and $328 resistance levels, and it remains at a risk below $310.

Ethereum price remains in a downtrend against the US Dollar and bitcoin. ETH/USD must clear the $320 and $330 resistance levels to recover towards $355.

XRP/USDT

  • Ripple price extended losses and traded below the $0.3000 support level against the US dollar, but it broke trend’s line and went to resistance at 0.31
  • Many doubts, that XRP would be able to pass R1 line and go uptrend.
  • The pair remains at a risk of more losses below the $0.2900 and $0.2800 support levels in the near term.

Ripple price is struggling to rebound against the US Dollar and Bitcoin. XRP/USDT could extend declines below $0.28.

BCH/USDT

  • Bitcoin cash price started consolidating losses after trading to the $540 low against the US Dollar.
  • There is a brake of a bearish trend line formed with resistance at $580 on the hourly chart of the BCH/USD pair .
  • The pair might continue to struggle to break the $590 and $600 resistance levels in the near term.

Bitcoin cash price is under pressure below $600 against the US Dollar. BCH/USD may perhaps attempt a recovery if buyers push the price above $590 and 100 SMA.

EOS/USDT

  • EOS price declined heavily and broke the $6.50 and $6.00 support levels against the US Dollar.
  • There is a short-term breakout pattern forming with resistance near $5.15 on the 2-hours chart of the EOS/USD pair.
  • The pair may perhaps break the $5.00 support if it fails to move past the $5.15 and $5.45 resistances.

EOS price fell sharply and broke the $6.00 support against the US Dollar. EOS/USD is currently struggling to hold the $5.00 support and it remains at risk of more losses.

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