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BTC, ETH, and XRP Price Analysis for August 19

Price Predictions
Thu, 08/19/2021 - 19:46
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Denys Serhiichuk
Will the current recovery lead the top coins to new peaks?
BTC, ETH, and XRP Price Analysis for August 19
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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The bearish mood has been replaced by bullish sentiment as most of the coins are again in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin (BTC) has remained the same since yesterday. The price change was only +0.05 percent.

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

On the daily chart, Bitcoin (BTC) has once again bounced off the support at $44,253. At the moment, the market remains neutral since not a single control has gained control.

Related
Bitcoin (BTC) Price Analysis for August 14

If sellers break the support, the drop may continue to $42,300. However, if buyers come back to the area around $48,000, the breakout might lead the chief coin to $50,000 and above.

Bitcoin is trading at $45,277 at press time.

ETH/USD

The Ethereum (ETH) price yesterday tried to stay above the psychological level of $3,000. During the second half of the day, buyers achieved a dynamic recovery in the pair, but it was not supported by large volumes. Hence, the recovery stopped by the end of the day near the four-hour EMA55. This moving average reversed the pair, and the price returned to the support of $3,000.

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

Currently, trading volumes are below the average level, so a slight move from buyers can lead to an increase in the ETH price to the EMA55 area, and if sellers seize the opportunity in the market, they can push through the psychological support of $3,000 and roll back the pair to the area of ​​$2,900.

Ethereum is trading at $3,042 at press time.

XRP/USD

The XRP price managed to hold above the four-hour EMA55 yesterday. Buyers actively tried to restore the price but failed to overcome the resistance of $1.20. The weak attempt at recovery was repeated tonight, but without success.

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

In the morning, trading volumes have decreased, and the price of XRP may settle in a short-term consolidation. The lower border of the sideways range can be the four-hour moving average EMA55. If the bears are able to push through it, then the price might roll back to the psychological support of $1.

XRP is trading at $1.13 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.