BTC/ETH/ BNB PRICE ANALYSIS......⁉️
Bitcoin Analysis:
Bitcoin needs a significant surge in demand soon to drive it above the all-time high, but Bitcoin whales seem hesitant. Could buyers maintain Bitcoin above $60,000, sparking widespread buying in the cryptocurrency sector?
👉Bitcoin Price Analysis:
Bitcoin bulls attempted to push the price above the 50-day simple moving average ($61,314) on Aug. 20, but the bears successfully defended the level. However, a minor positive sign for the bulls is that they have not given up and are trying again to push the BTC/USDT pair above the 50-day SMA. If they succeed, the pair may gain momentum and climb to $65,660, and then possibly to $70,000. Strong resistance is expected between $70,000 and $73,777.The key support level to monitor on the downside is $55,724. If this level fails, the pair could plummet to $49,000.
👉Ether Price Analysis:
The bulls were once again unable to push Ether above the 20-day EMA ($2,707) on Aug. 20, indicating that the bears are selling into rallies. The bears may attempt to solidify their position by driving the price below $2,500. If they succeed, the ETH/USDT pair could drop to $2,300. This level is likely to attract buyers because a breakdown below it could send the pair down to $2,111.The bulls, on the other hand, are expected to regroup and attempt to drive the pair above the 20-day EMA. If successful, the pair could rise to the breakdown level of $2,850.
👉BNB Price Analysis:
BNB surged and closed above the downtrend line on Aug. 19, signaling that the bulls are now in control. However, the bears are unlikely to give up easily. They may try to drag the price back below the downtrend line and the moving averages. If they succeed, it could indicate that the breakout was a bull trap.Conversely, if the price rebounds from the downtrend line, it would suggest that the bulls have turned the level into support. The pair could then attempt to rally to $605, and eventually face strong resistance at $635.
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