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BTC, ETH and XRP Price Analysis for August 30

Price Predictions
Mon, 08/30/2021 - 12:18
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Denys Serhiichuk
Can the rise of the top coins continue?
BTC, ETH and XRP Price Analysis for August 30
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 new week has begun with the fall of the cryptocurrency market as most of the coins are in the red zone. Solana (SOL) is the only exception to the rule, rising by 7.67%.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Last Saturday, the price of Bitcoin (BTC) rolled back to the $48,240 mark and, on Sunday night, the bulls tried to storm the psychological boundary of $50,000. However, the overnight growth was not supported by large volumes and stopped at $49,666.

Related
BTC, BNB and XRP Price Analysis for August 24

On Sunday morning, the bears repelled the attack of buyers and rolled back the pair below the two-hour EMA55, pushing the BTC price to the $47,745 level. In the afternoon, the pair gradually recovered above the average price level, but buyers have not yet been able to form a bullish momentum to test the $50,000 level.

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

Sellers are dominating the market this morning, and the price has pulled back below the EMA55 moving average. If buyers manage to stop the decline, they may continue to try to break above $50,000.

Bitcoin is trading at $47,974 at press time.

ETH/USD

On Saturday, buyers kept the Ethereum (ETH) price above $3,200 and, on Sunday, the bears managed to push the pair below this support and test the $3,150 level.

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

Despite the bulls' attempts to restore the price above the POC line, sellers are not allowing the ETH price to gain a foothold above the two-hour EMA55, and pressure from their side may lead to a pullback to the area of $3,120.

Ethereum is trading at $3,182 at press time.

XRP/USD

The rate of XRP has declined by 1.10% over the past 24 hours.

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

Over the weekend, the XRP price consolidated in a fairly narrow sideways range at the two-hour EMA55.

Related
BTC, ADA and LTC Price Analysis for August 23

Despite the dominance of sellers, the pair is trying to stay in the area of average prices. If bearish pressure intensifies, then a pullback to the psychological level of $1 is possible.

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.