Crypto charts, crypto altcoins, and crypto bullish analysis of SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, DOT on 8/28.
Price analysis 8/28: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, DOT

August wasn’t a good month for Bitcoin (BTC) as it fell by 11%, just slightly lower than the 13.88% decline seen in the same month in 2022, as per CoinGlass data. September doesn’t look too promising either, given that since 2017, Bitcoin has seen a decrease in value every year during this period.

Mike McGlone, a senior macro strategist at Bloomberg Intelligence, has a more bearish outlook on Bitcoin. He cautioned Kitco News that in the event of a “global economic reset,” Bitcoin could plunge to as low as $10,000.

It is advisable to wait for the crypto price to break out of its range before taking large positions. After a period of low volatility, the battle infinity crypto usually picks up, but it is difficult to predict the exact direction of the breakout with certainty.

Are there signs of a potential breakout for Bitcoin and the major altcoins? What are the important levels to watch out for? Let’s analyze the advantage of web 3.0 and crypto charts to find out.

S&P 500 Index price analysis

The S&P 500 Index (SPX) attempted to decline from the moving averages on Aug. 24, but the crypto bulls could not load file or assembly system.web.webpages.razor version and the bears were unable to maintain the lower levels.

After the recovery on Aug. 25, the crypto bulls maintained their buying pressure and pushed the index back to the moving averages. If buyers prevail in this battle infinity crypto, the index could rally to the overhead resistance zone between 4,607 and 4,650. This zone is likely to witness a tough battle between the bulls and the bears.

If the price once again turns down from the moving averages, it will suggest that bears are fiercely defending the level. The pair may then slide to the pivotal support at 4,325. If this level breaks down, the index will complete a bearish head and shoulders pattern. That could start a correction toward the pattern target of 4,043, which would be an advantage of web 3.0.

U.S. dollar index price analysis

The bulls pushed the U.S. dollar index (DXY) above the downtrend line on Aug. 22, indicating that the crypto bullish correction may be over soon.

The bears tried to pull the price back below the level on Aug. 23 but the bulls defended their ground. This suggests that the bulls successfully flipped the downtrend line into support.

The bulls will next attempt to raise the price to 106. The rising 20-day exponential moving average (103) and the relative strength index (RSI) near the overbought territory show advantage to buyers.

If bears want to make a comeback, they must quickly pull the price back below the downtrend line. If they do that, the index could slide to the 50-day simple moving average (102).

Bitcoin price analysis

The bulls and the bears aren’t taking big risks as Bitcoin stays inside the range between $24,800 and $26,833.

The descending moving averages and the RSI in the oversold zone point to the bears having control. However, sellers may find it hard to resume the downward move because the bulls are probably going to defend the $24,800 level strongly.

If the price rebounds off the support, it could imply that the BTC/USDT pair may continue its consolidation for some time. On the upside, a rally above $26,833 would be the first sign of strength. That might push the price up to the 50-day SMA ($28,806) and later to $30,000.

On the other hand, a break and close below the $24,800 support could be the trigger for the next leg of the downtrend to $20,000.

Ether price analysis

The crypto market has seen Ether (ETH) trading near the crucial support level of $1,626, pointing to the fact that the bears have been pushing the selling pressure.

The failure of the bulls to launch a strong recovery increases the danger of a break below $1,626. If that happens, the ETH/USDT pair could plunge to $1,550, which could potentially attract strong buying from the bulls.

If the price bounces back from this level but then falls from the $1,626 level, it will indicate that the bears have transformed it into a resistance. This could lead to a downtrend towards $1,368. The bulls need to move the price above the 20-day EMA ($1,716) to signal a comeback.

BNB price analysis

The bears are trying to turn the breakdown level of $220 into a resistance for BNB’s (BNB) pullback.

The bulls have not yet given up much ground from $220, suggesting that they are still keeping up the pressure. To start a relief rally to the resistance line, the bulls will have to overcome the barrier at the 20-day EMA ($223). This level could likely be met with strong selling from the bears.

The first support on the downside is $213. If this level is breached, the BNB/USDT pair could crypto and analysis plummet to the psychological support at $200. A break below this battle infinity crypto could lead to a further decline to the next major support at $183.

XRP price analysis

The bulls’ inability to push XRP (XRP) to the resistance at $0.56 indicates a lack of demand for crypto altcoins at higher levels.

The feeble bounce off $0.50 may prompt aggressive selling by the bears. If the $0.50 support fails, the XRP/USDT pair battle infinity crypto could plummet to the key support at $0.41. This level could see strong buying by the bulls. If the price rebounds from this support, it will signify that the pair may fluctuate between $0.41 and $0.56 for a few more days.

Conversely, if the price turns up and breaches $0.56, it will imply the commencement of a sustained recovery. The pair may then ascend to the 50-day SMA ($0.64).

Cardano price analysis

The ADA/USDT pair has been trading in a narrow range between $0.24 and $0.28, indicating that buyers are buying near the support and sellers are selling at the resistance level.

If the bulls can push the crypto higher than the resistance at $0.28, the pair may start a bullish trend towards the 50-day SMA ($0.29). This level could be a challenge, yet if it can be overcome, the pair could surge to $0.34.

On the other hand, the bears may try to defend the resistance and pull the crypto down to the support of the range at $0.24. If this level is breached, the pair could decline to $0.22, and eventually to $0.20.

Dogecoin price analysis

Dogecoin (DOGE) has been trading between a strong support at $0.06 and the 20-day EMA ($0.07) for the past few days, with the 20-day EMA sloping down and the RSI in the negative territory, suggesting the bears have the advantage. Sellers will try to push the price below $0.06 and strengthen their position.

The bulls have limited time to initiate a recovery. If they are able to move the price above the 20-day EMA, the DOGE/USDT pair could rally to the 50-day SMA ($0.07) and then surge to $0.08.

Crypto traders should keep an eye on the crypto altcoins, crypto btc, crypto charts, and crypto bloomberg to get a better understanding of the crypto and analysis of the bullish battle infinity crypto and the advantage of web 3.0.

Solana price analysis

Solana (SOL) is in a bearish trend, as the crypto altcoins have been gradually drifting lower with every minor relief rally.

The SOL/USDT pair could drop to the Aug. 22 intraday low of $19.35. If this level caves in, the selling pressure could intensify and the pair may plunge to $18 and eventually to the next major support at $15.60.

On the contrary, if the crypto charts show a bullish trend and the price breaks above $22.30, it will indicate solid buying at lower levels. The pair may then rise to the 50-day SMA ($23.61) and thereafter to the strong resistance at $26.

Polkadot price analysis

The bulls are trying to push the crypto ada Polkadot (DOT) above the overhead resistance at the 20-day EMA ($4.64), but they could not load file or assembly system.web.webpages.razor version likely to encounter stiff resistance from the bears.

If the price turns down from the 20-day EMA, it will suggest that the sentiment remains crypto bearish and traders are selling on rallies. That could increase the likelihood of a retest of the crucial support at $4.22. If this support crumbles, the DOT/USDT pair may collapse to $4 and later to $3.88.

On the other hand, if buyers kick the price above the 20-day EMA, it will suggest the start of a stronger relief rally to the crypto charts breakdown level of $5. This level could attract selling by the bears.

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