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BTC, ETH and ADA Price Analysis for August 25

Price Predictions
Wed, 08/25/2021 - 14:45
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Denys Serhiichuk
Can Bitcoin (BTC) surpass the rise of the other coins?
BTC, ETH and ADA Price Analysis for August 25
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bears have seized the initiative as most of the top 10 coins are in the red zone. Binance Coin (BNB) is the only exception to the rule, rising by 0.81%.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, bears pushed through the average price level. Significant sales volumes pushed the Bitcoin price back to the support level of $47,745. Sellers tried to break through this support tonight, but after a local minimum around $47,590, the pair recovered above the 61.8% Fibonacci level.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

At the moment, pressure from the bears has eased, so one can count on the continuation of the recovery dynamics and a return to the psychological level of $50,000.

Bitcoin is trading at $47,426 at press time.

ETH/USD

Yesterday morning, buyers failed to form further bullish momentum, and the Ethereum (ETH) price rolled back below the EMA55 moving average. During the day, the decline continued until the bears pushed the price back below the support of $3,200. In the evening, sellers reached a minimum around $3,145.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

By the end of the day, there was a weak attempt to recover to the support of $3,200, but the pair is still struggling to hold at this level in a narrow consolidation. If bearish pressure resumes, a pullback to the area of $3,075 is possible.

Ethereum is trading at $3,113 at press time.

ADA/USD

Cardano (ADA) is the second loser from today's list, falling by 3.45% over the past 24 hours.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

On the daily chart, Cardano (ADA) has once again touched the support at $2.58. Until it is located above it, bulls keep controlling the situation on the market.

Related
Cardano (ADA) Price Analysis for August 22

Once sellers break it and fix below, a sharp fall may occur that can lead the rate of ADA to the mark of $2.40.

ADA is trading at $2.64 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.