BTC, ETH and XRP Price Analysis for August 25

Price Predictions
Tue, 08/25/2020 - 14:47
Denys Serhiichuk
Can Ethereum (ETH) or XRP return to a bull run faster than Bitcoin (BTC)?
BTC, ETH and XRP 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.

Contents

The bullish mood has not lasted for long as almost all of the Top 10 coins have returned to red. The only exception to the rule is Polkadot (DOT), which has recently joined the list of the most popular cryptocurrencies.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The relevant Bitcoin (BTC), Ethereum (ETH) and XRP data today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$212,820,224,757 $11,522.17 $22,486,996,980 -2.71%

Ethereum

ETH

$43,816,375,551 $390.08 $10,218,513,466 -4.42%

XRP

XRP

$12,711,900,963 $0.282848 $1,172,442,243 -2.61%

BTC/USD

Yesterday morning, buyers were able to overcome the resistance of the two-hour EMA55, and in the afternoon, the Bitcoin (BTC) price tried to gain a foothold above the POC line ($11,740).

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

However, the rally was not supported by large volumes and the pair is back below the average price this morning. If the trend with upward lows continues, then the recovery will continue above the psychological mark of $12,000.

Related Bitcoin (BTC) Price Analysis for August 24
Related
Bitcoin (BTC) Price Analysis for August 24

If the onslaught of bears increases from the moving average EMA55, the price will retrace to 50% Fibo ($11,394).

Bitcoin is trading at $11,508 at press time.

ETH/USD

Yesterday, the Ethereum (ETH) price was able to overcome the two-hour EMA55 and consolidate above the psychological level of $400. A small spike in volume led to a daily high of around $410.

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

However, this morning the pair returned to the average price level. If during the day the price holds above the POC line ($395), then the recovery will continue to the area of the new weekly high of $420. If sellers push the point of control line ($395), then the pullback may reach support at $360.

Ethereum is trading at $390.71 at press time.

XRP/USD

Yesterday, the XRP price tried to stay above the two-hour EMA55 level. The volume of purchases was not great, so during the day, the pair was unable to test the POC line ($0.294).

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

If buyers consolidate above the point of control indicator line ($0.294), then the recovery might continue to the resistance of $0.310. Otherwise, sellers will return the price to the support of $0.280.

XRP is trading at $0.2806 at press time.

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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.