Price Analysis of BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT on 8/4 - Best Place to Find Crypto
Price analysis 8/4: BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT

Bitcoincontinues to frustrate traders who have been predicting a breakout on either side, but investors should keep a close watch because the longer the time spent inside the range, the stronger the eventual breakout from it.

The July jobs report released on Aug. 4 was a mixed bag. Hence, it could not shake Bitcoin (BTC)from its range. The report showed the addition of 187,000 web 3.0 jobs, fewer than the 200,000 expected by economists. But average hourly wages remained strong, showing an increase of 0.4% for the month against expectations of a 0.3% rally crypto.

Although the price remains stuck inside a range, analysts are putting out bullish projections for the second half of the year. A recent report from Matrixport projected a target of $45,000 by the end of this year and $125,000 by the end of 2024.

Bitcoin’s long-term story remains intact, but traders should keep a close eye on any possible shocks from regulators, as that could cause a knee-jerk reaction to the downside. What are the important support and resistance levels to watch out for in Bitcoin and altcoins? Let’s study the charts of the top 10 cryptocurrencies to find out the best way to keep up with crypto and the best place to find crypto such as polka dot crypto and top crypto websites and top websites for crypto, as well as AI story generator and bullish crypto and AI this week.

Bitcoin price analysis

The Bitcoin’s price is stuck between the 20-day exponential moving average (EMA) of $29,523 and the horizontal support at $28,861, as the downsloping 20-day EMA and the relative strength index (RSI) in the negative zone suggest that the bears have a slight edge.

Should the price drop and stay below $28,861, the BTC/USDT pair could tumble to $27,500 and then to $26,000. On the other hand, if the price rallies crypto off $28,861, it will suggest that the bulls are defending this level. A break and close above $30,000 will be a sign of the bulls’ comeback. The pair may then go up to the overhead resistance zone between $31,804 and $32,400.

Ether price analysis

The bearish pressure on Ether (ETH) is evident as it dropped below the 50-day simple moving average (SMA) of $1,871 on Aug. 2.

The bulls are attempting to prop up the price near the strong support at $1,816, yet the failure to produce a significant rebound shows a lack of bullish crypto enthusiasm. The 20-day EMA ($1,867) trending downwards and the RSI hovering near the midpoint point to a bearish outlook.

If the price dips beneath $1,816, the ETH/USDT pair may plunge to $1,698. This pessimistic view will be invalidated if the bulls manage to push and keep the price above the 20-day EMA. In that case, the pair may be stuck between $1,816 and $2,000 for some time.

BNB price analysis

BNB (BNB) has recently declined from the resistance line of the symmetrical triangle pattern, indicating that the bears are strongly defending the level.

The moving averages have flattened and the RSI is near the midpoint, suggesting a balance between supply and demand. If the price manages to surge above the triangle, the BNB/USDT pair could then try a rally to $265, where the bears may again pose a significant challenge.

Conversely, if the price turns down and breaks below the triangle, it will be a sign that the bears are on the move. The pair could then retest the key support at $220. If this level fails to hold, the pair may start the next leg of the bearish crypto trend.

XRP price analysis

The XRP/USDT pair tumbled below the 20-day EMA ($0.68) on Aug. 2 and followed that up with another slide on Aug. 3, causing the price to drop below the strong support at $0.67.

Bulls are attempting to protect the 61.8% Fibonacci retracement level of $0.64, as a breakdown could lead to the pair collapsing to the breakout level of $0.56. The 50-day SMA ($0.59) could offer temporary support, but it is likely to be breached.

On the other hand, if the bulls are able to push the price back up above the 20-day EMA, it will suggest that there is strong demand at lower levels. This increases the likelihood of the pair remaining within the $0.67 to $0.85 range for a while longer.

Dogecoin price analysis

On Aug. 2, Dogecoin (DOGE) experienced a downturn, slipping below the 20-day EMA ($0.07), indicating that buyers have been chased away by higher prices.

Bulls are attempting to push the DOGE/USDT pair back above the 20-day EMA on Aug. 4. If successful, the price could rally crypto to the downtrend line. This level is likely to be met with strong selling by bears.

Conversely, if the price reverses from the downtrend line, it will be a sign that the trend has changed and the relief rallies are being sold. In that case, bears will try to push the price below the 20-day EMA and challenge the breakout level at $0.07.

On the other hand, a break and close above the downtrend line will suggest a strong up move towards $0.10, which could be the best way to keep up with crypto and the top websites for crypto.

Cardano price analysis

The bears seem to be attempting to take control as Cardano (ADA) fell below the 20-day EMA ($0.30) and the 50-day SMA ($0.30) on Aug. 2 and Aug. 3 respectively.

If the price remains below the uptrend line, the selling pressure may increase and the ADA/USDT pair could drop to $0.26 and then to the key support at $0.24. Bulls are likely to protect this level strongly.

In order for the bulls to make a comeback, they must quickly push the price back above the moving averages and the overhead resistance at $0.32. This could propel the pair towards $0.34 and eventually to $0.38.

Solana price analysis

The bulls have been defending the strong support of $22.30 for Solana (SOL) since Aug. 4, pushing the price of SOL/USDT pair up towards $25.68 and $27.12. However, the bears may attempt to break this rally crypto below the support zone between $22.30 and the 50-day SMA ($21.38), which could result in a fall to $18.

On the other hand, if the bulls are successful in pushing the price above the 20-day EMA ($23.84), it could indicate a potential new uptrend. To stay up-to-date with the crypto market, the best way to keep up with crypto is to visit the top crypto websites and top websites for crypto.

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Polygon price analysis

Since Polygon (MATIC) reached a local high of $0.89 on July 13, its price has been in a downward rally. Bulls are likely to mount a strong defense at the support near $0.65, which could lead to a possible rise to $0.80 if the price rebounds off the support and climbs above the moving averages.

However, if the price skids below $0.65, it will indicate that the bears remain in command. The MATIC/USDT pair could then slump to the support at $0.60, which may attract bullish crypto investors looking for the best way to keep up with crypto.

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Analysis of Litecoin’s Price

The bullish crypto forces attempted to defend the $81.36 support level after Litecoin (LTC) saw a 100% retracement of its rally from $82.91 on July 29, however, the bears did not give up their advantage.

Should the price break below $81.36, the LTC/USDT pair could potentially plunge to $76. On the other hand, if the price rebounds from the current level, the pair may reach the overhead resistance at $87.37. If the price breaks above this level, the pair may remain range-bound between $81.36 and $96.46 for some period of time.

Polkadot price analysis

Polkadot (DOT) has been trading within a range of $5 to $5.65 for the past few days. The price has reached the support of the range, which could see a fierce battle between the bulls and the bears.

The 20-day EMA ($5.17) has started to turn down and the RSI is in the negative territory, suggesting a slight advantage to the bears. If the price slides and holds below $5, it could lead to a deeper pullback to $4.74 and then to $4.60.

On the other hand, if the price bounces off the current level and breaks above the 20-day EMA, it will show that the range remains intact. The DOT/USDT pair could then rally to $5.33 and then to the overhead resistance at $5.64.

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