Bitcoin (BTC / USD), Ethereum (ETH / USD), Alt coin price, chart and analysis
- The 200-day sma still supports Bitcoin.
- Ethereum looking for 20-day sma support.
- The bottom coins diverge, Solana (SOL) outperforms.
Bitcoin has broken out of its recent uptrend channel and is now struggling to restore support, turning resistance around $ 48,000. The BTC is currently supported by a 200-day simple moving average and is trading at just under $ 47,000 on both sides of the 50% Fibonacci retracement level. Although sales have gradually peaked several weeks from Monday this week, the technical outlook does not look overly negative as long-term sma and Fib retracement remain over the weekend. The CCI is no longer in overbought territory and is currently at its lowest level in a month, contributing to a positive outlook. A set of recent lows and a 38.2% Fibi retracement between $ 42.5,000 and $ 44,000 should provide initial support in the event of a sale.
Bitcoin (BTC / USD) Daily Price Chart August 27, 2021
The sharp rise of Ethereum in mid – July has stopped in the last two weeks and 2nd the biggest cryptocurrency is struggling to restore the sharp uptrend in the channel. Ethereum sits in a very short range of $ 3050- $ 3250 and also trades on both sides of the 20-day sma. The recent peak of several weeks, $ 3378, is within reach and is likely to come under pressure in the coming days and weeks, especially if the 20-day sma remains supportive.
Ethereum (ETH / USD) Daily price chart August 27, 2021
Alt coin the market has been turbulent for a few days but is ending the week positively, reducing recent losses. Cardano (ADA) is back at $ 2.85 and rose 12% in 7 days, Binance Coin (BNB) has risen 11%, while Solana is 11% higher over the same period. Other high-visibility coins, Ripple (XRP), Dogecoin (DOGE) and Polkadot (DOT), have fallen by about 10% in 7 days.
What is your view Bitcoin, Ethereum and the Alt-Coin market – bullish or bullish ?? You can let us know via the form at the end of this article or contact the author via Twitter @ nickcawley1.