The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Price analysis: BTC, ETH, BNB

By
Redakcja
-
4 min reading

Bitcoin and majority of altcoins are almost in an overhead resistance level proving that the downtrend is near to an ending. Bitcoin (BTC) has arranged a smart recovery in the last few days and the interest related to the Crypto sector seems to be getting ahead. JPMorgan Chase has included access to a new Bitcoin Fund built by New York Digital Investment Group (NYDIG) for its own private banking clients. 

Bitcoin and majority of altcoins are almost in an overhead resistance level proving that the downtrend is near to an ending. Bitcoin (BTC) has arranged a smart recovery in the last few days and the interest related to the Crypto sector seems to be getting ahead. JPMorgan Chase has included access to a new Bitcoin Fund built by New York Digital Investment Group (NYDIG) for its own private banking clients. 

The traditional financial institutions numbers are increasing in regard to crypto trading opportunities for their clients portrays a strong demand for the sector. Willy Woo on-chain analyst says that the strong holders had been sweeping up for Bitcoin and locking “them away for long-investment”, ending up with a supply squeeze. According to Woo he hasn’t seen a supply shock opportunity like this since Q4 2020 when BTC was priced at $10,000 only to be repriced at $60,000 in the months thereafter.” 

BTC/USDT

Bitcoin’s rebound off the 20-day exponential moving average ($38,111) proves that the sentiment has turned positive and traders are now purchasing dips. The bulls at the present are trying to maintain the price above the critical overhead resistance at $42,451.67. The BTC/USDT pair has created an inverse head and shoulders pattern that will finish on a breakout and close above the neckline. If bulls sustain the price higher than the neckline, the pair could begin its journey toward the pattern target at $55,778. Nonetheless, it may not be a sudden increase to the target objective as the bears are most probably going to create tough resistance in the $50,000 to $51,000 zone. However, if the price decreases from the present level, the pair could again retest the 20-day EMA. A break under this proves the comeback. 

ETH/USDT

Ether (ETH) rebounded off the downtrend line on August 4. Pointing towards the fact that the bulls have turned for help. The bulls are trying to increase the price to the psychological resistance at $3,000. If the price decreases from $3,000 the ETH/USDT pair could decrease down the 20-day EMA ($2,428). A strong increase off this support will mean that the sentiment would remain positive. The bulls will then make one more try to clear the obstacle at $3,000. The rising 20-day EMA and the RSI in the overbought territory points out that the way of least resistance is to the upside. A break under the 20-day EMA will be the first sign that the bullish momentum may be turning a bit weak.

BNB/USDT

Binance Coin (BNB) bounced off the 20-day EMA ($320) on Aug 4. Mentioning a strong demand at lower levels. The bulls at the present trying to increase and sustain the price above the overhead resistance at $340. A close above the $340 will complete the growing triangle pattern, which could increase opportunities for a rally to $380 and then $433. However, the rising 20-day EMA and the RSI in the positive region proves the path of least resistance is to the upside, a break under this will support the pattern and the pair may drop to $211.70. 

Currency Exchange rate Buy cryptocurrency

The new DEFI platform enters the market! Earn passively - token sale 0.25 $

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.