Coinbry

  • Market Cap: $2,065,991,175,685.87
  • 24h Vol: $100,059,533,828.14
  • BTC Dominance: 49.15%
BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT: Price Analysis on 8/4

BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT: Price Analysis on 8/4

Bitcoin continues to trade within a range, but altcoin traders see this as a positive sign for the rest of the crypto market.

Analysts are projecting bullish targets for Bitcoin, with a report suggesting a target of $45,000 by the end of the year and $125,000 by the end of 2024.

Bitcoin’s price is currently squeezed between the 20-day EMA of $29,523 and horizontal support at $28,861. A break above $30,000 could signal a comeback by the bulls.

Ether has slumped below the 50-day SMA of $1,871, indicating bearish pressure. The path of least resistance is to the downside, with a potential plunge to $1,698 if support at $1,816 breaks.

BNB turned down from the resistance line of a symmetrical triangle pattern, suggesting bearish defense. A break above the triangle could lead to a rally to $265.

XRP tumbled below the 20-day EMA and strong support at $0.67. If support at $0.64 breaks, XRP could collapse to $0.56.

Dogecoin turned down and broke below the 20-day EMA, indicating selling pressure. A break below $0.07 could lead to a retest of the breakout level at $0.07.

Cardano broke below the 20-day EMA and 50-day SMA, suggesting bearish control. Support at $0.24 is expected to be defended by buyers.

Solana rebounded off strong support at $22.30, indicating bullish defense. A break above the 20-day EMA could lead to a potential uptrend.

Polygon has been sliding since hitting a local high of $0.89, showing lack of buying interest. Support near $0.65 is expected to be defended by bulls.

Litecoin’s range resolved to the downside, with support at $81.36. A break below this level could lead to a plummet to $76.

Polkadot has been range-bound between $5 and $5.65, with support at $5. A break below $5 could start a deeper pullback.

Summary:

– Bitcoin continues to range trade, but bullish projections suggest a potential breakout in the second half of the year.

– Altcoins like Ether, XRP, Dogecoin, Cardano, Solana, Polygon, Litecoin, and Polkadot are facing various levels of bearish pressure.

– Support and resistance levels should be closely watched for potential price movements in these cryptocurrencies.

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