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BTC, ETH and XRP Price Analysis for August 11

Price Predictions
Wed, 08/11/2021 - 15:20
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Denys Serhiichuk
Have bulls seized the initiative in terms of mid-term growth?
BTC, ETH and XRP Price Analysis for August 11
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 could not seize the initiative and all top 10 coins remain in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, trading volumes were below average and buyers were unable to gain a foothold above $46,000.

Related
Bitcoin (BTC) Price Analysis for August 8

At the end of the day, the bulls lost the initiative and sellers pushed the Bitcoin price below $45,000.

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

Over the past night, the pair recovered to the resistance of $46,000 and, today, the bulls might try to continue their run to the level of $47,745. A new monthly high should be expected around $48,000.

Bitcoin is trading at $46,467 at press time.

ETH/USD

During the day yesterday, buyers continued to try to break through the resistance of $3,200.

Related
BTC, ETH, and XRP Price Analysis for August 9

One of these tests pierced this level and marked the maximum at $3,235, but sellers immediately pushed the Ethereum (ETH) price below the support of $3,100.

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

Weak bearish momentum faded rather quickly at around $3,050 and the pair was able to recover to the resistance line by the end of the day. If the bulls manage to increase volumes today, then the price of ETH can test the level of $3,340.

Ethereum is trading at $3,260 at press time.

XRP/USD

Yesterday morning, the XRP price held above the key level of $0.80 and, during the day, buyers managed to continue the rise. At night, the bulls broke through the target level in the form of the POC line ($0.869).

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Today, the growth may continue and the monthly maximum will be renewed to the level of $1.09.

XRP is trading at $0.9263 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.