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BTC, ETH, XRP, BNB, ADA, and SOL Price Analysis for August 14

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Mon, 14/08/2023 - 16:22
BTC, ETH, XRP, BNB, ADA, and SOL Price Analysis for August 14
Cover image via www.tradingview.com

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Buyers are trying to hold the initiative at the beginning of the week, according to the CoinMarketCap ranking.

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Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin (BTC) has increased by 0.76% over the last 24 hours.

BTC/USD chart by TradingView

Image by TradingView

The price of Bitcoin (BTC) has once again bounced off the $29,000 zone. Despite the slight growth, it is too early to make any predictions. However, if the momentum continues to $30,000 and Bitcoin stabilizes above the aforementioned price level, bulls might take the initiative, potentially driving the value up to the $31,000 range soon. 

Bitcoin is trading at $29,582 at press time.

ETH/USD

Ethereum (ETH) is underperforming Bitcoin (BTC), rising by a mere 0.28% since yesterday.

ETH/USD chart by TradingView

Image by TradingView

From a technical perspective, Ethereum (ETH) is trading in a manner similar to Bitcoin (BTC). However, it's essential to monitor the daily close. If it concludes without extended wicks, we might see a test of the $1,900 zone shortly.

Ethereum is trading at $1,854 at press time.

XRP/USD

XRP is not an exception, going up by 0.51%.

XRP/USD chart by TradingView

Image by TradingView

Despite the today's rise, the price of XRP is far from the main levels which means there is a low possibility to expect any sharp moves soon. If buyers want to seize the initiative, they need to restore the rate above the $0.66 zone.

XRP is trading at $0.6317 at press time.

BNB/USD

The price of Binance Coin (BNB) has risen by 0.24%.

BNB/USD chart byTradingView

Image by TradingView

From a technical perspective, the price of Binance Coin (BNB) sits at the midpoint of a broad channel, gathering momentum for a significant move. Since neither side has taken the initiative, continued consolidation around the $240 mark seems likely for the upcoming week.

BNB is trading at $240.9 at press time.

ADA/USD

Cardano (ADA) has also followed the rise of other coins, going up by 0.22%.

ADA/USD chart by TradingView

Image by TradingView

The price of Cardano (ADA) is trading similarly to BNB as the price keeps trading sideways. In this case, the more likely scenario is continued consolidation in the area of $0.2850-$0.2950 for the next few days.

ADA is trading at $0.2919 at press time.

SOL/USD

The rate of Solana (SOL) has increased by almost 1% over the past day.

SOL/USD chart by Trading View

Image by TradingView

The price of SOL is on the way to test the resistance of $25.21. If the bar closes near this mark, the breakout may lead to a price blast to the $26 zone soon.

SOL is trading at $24.82 at press time.

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