The Crypto Daily – Movers and Shakers – August 28th, 2020

Bitcoin, BTC to USD, fell by 1.12% on Thursday. Reversing a 1.15% gain from Wednesday, Bitcoin ended the day at $11,343.0.

A bearish start to the day saw Bitcoin fall to a mid-day low $11,290 before making a move.

Steering clear of the first major support level at $11,279, Bitcoin struck an early afternoon intraday high $11,609.0.

Coming up against the first major resistance level at $11,605, Bitcoin slid to a late afternoon intraday low $11,145.0.

Bitcoin fell through the first major support level at $11,279 before recovering to $11,300 levels.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day for the majors on Thursday.

Binance Coin and Monero’s XMR bucked the trend on the day, rising by 4.05% and by 0.72% respectively.

It was a bearish day for the rest of the pack, however.

Cardano’s ADA slid by 6.21% to lead the way down.

Bitcoin Cash ABC (-4.60%), Bitcoin Cash SV (-4.07%), EOS (-4.47%), Litecoin (-3.44%), Ripple’s XRP (-4.37%), Stellar’s Lumen (-4.44%), Tezos (-4.32%), also saw heavy losses.

Ethereum (-0.74%) and Tron’s TRX (-2.12%) saw relatively modest losses on the day.

In the current week, the crypto total market rose to a Monday high $360.52bn before falling to a Tuesday low $329.92bn. At the time of writing, the total market cap stood at $338.20bn.

Bitcoin’s dominance fell to a Monday low 60.80% before rising to a Tuesday high 62.13%. At the time of writing, Bitcoin’s dominance stood at 61.77%.

 

This Morning

At the time of writing, Bitcoin was down by 0.28% to $11,311.0. A bearish start to the day saw Bitcoin fall from an early morning high $11,367.0 to a low $11,308.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day. Bitcoin Cash SV bucked the trend early on, rising by 1.15%.

It was bearish for the rest of the majors, however.

At the time of writing, Tezos was down by 2.07% to lead the way down.

BTC/USD 28/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $11,366 to support a run at the first major resistance level at $11,586.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,500 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test resistance at $11,700 before any pullback. The second major resistance level sits at $11,830.

Failure to move through the $11,366 pivot level would bring the first major support level at $11,122 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,000 levels. The second major support level sits at $10,902.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 28th, 2020

EOS

EOS slid by 4.47% on Thursday. Following on from a 0.15% decline on Wednesday, EOS ended the day at $2.9775.

It was another mixed start to the day. EOS rose to an early morning intraday high $3.1505 before hitting reverse.

Falling short of the first major resistance level at $3.1758, EOS fell to a late afternoon intraday low $2.8487.

The reversal saw EOS fall through the day’s major support levels before briefly revisiting $2.97 levels.

While moving back through the third major support level at $2.8866, resistance at $3.00 pinned EOS back late on.

At the time of writing, EOS was down by 0.26% to $2.9697. A bearish start to the day saw EOS fall from an early morning high $2.9849 to a low $2.9668.

EOS left the major support and resistance levels untested early on.

EOS/USD 28/08/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.9922 pivot level to support a run at the first major resistance level at $3.1358.

Support from the broader market would be needed, however, for EOS to break back through to $3.10 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the pivot level at $2.9922 would bring the first major support level at $2.8340 into play.

Barring another extended sell-off, however, EOS should avoid sub-$2.80 levels. The second major support level sits at $2.6904.

Looking at the Technical Indicators

First Major Support Level: $2.8340

Pivot Level: $2.9922

First Major resistance Level: $3.1358

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum fell by 0.74% on Thursday. Reversing a 0.74% gain from Wednesday, Ethereum ended the day at $383.25.

It was also a mixed start to the day. Ethereum fell to a mid-morning low $380.37 before making a move.

Steering clear of the first major support level at $377.94, Ethereum struck an early afternoon intraday high $397.15.

Ethereum broke through the first major resistance level at $393.88 before sliding to a late afternoon intraday low $371.5.

Ethereum fell through the first major support level at $377.94 before recovering to $380 levels.

At the time of writing, Ethereum was down by 0.45% to $381.52. A bearish start to the day saw Ethereum fall from an early morning high $383.87 to a low $381.46.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 28/08/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $383.97 pivot to support a run at the first major resistance level at $396.43.

Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $400 would likely cap any upside.

Failure to move through the $383.97 pivot would bring the first major support level at $370.78 and 38.2% FIB of $367 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level sits at $358.32.

Looking at the Technical Indicators

First Major Support Level: $378.78

Pivot Level: $383.97

First Major Resistance Level: $396.43

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 4.37% on Thursday. Reversing a 0.05% gain from Wednesday, Ripple’s XRP ended the day at $0.2645.

It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.27836 before hitting reverse.

Falling short of the first major resistance level at $0.2802, Ripple’s XRP slid to a late afternoon intraday low $0.25355.

The sell-off saw Ripple’s XRP slide through the day’s major support levels before partially recovering to $0.26 levels.

The partial recovery saw Ripple’s XRP break back through the third major support level at $0.2637.

At the time of writing, Ripple’s XRP was down by 0.77% to $0.26247. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.26499 to a low $0.26181.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 28/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2655 pivot to support a run at the first major resistance level at $0.2774.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.27 levels.

Barring an extended crypto rally, the first major resistance level should cap any upside.

Failure to move through the $0.2655 pivot would bring the first major support level at $0.2526 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2407.

Looking at the Technical Indicators

First Major Support Level: $0.2526

Pivot Level: $0.2655

First Major Resistance Level: $0.2774

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 27th, 2020

EOS

EOS fell by 0.15% on Wednesday. Following Tuesday’s 7.77% tumble, EOS ended the day at $3.1197.

It was another mixed start to the day. EOS rose to an early morning high $3.1577 before hitting reverse.

Falling short of the first major resistance level at $3.3622, EOS fell to an early afternoon intraday low $3.0578.

Steering clear of the first major support level at $2.9184, EOS rose to a late afternoon intraday high $3.1729.

A bearish end to the day, however, left EOS in the red.

At the time of writing, EOS was up by 0.23% to $3.1269. A mixed start to the day saw EOS fall to an early morning low $3.1128 before rising to a high $3.1338.

EOS left the major support and resistance levels untested early on.

EOS/USD 27/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.1168 pivot level to support a run at the first major resistance level at $3.1758.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $3.1729.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the pivot level at $3.1168 would bring the first major support level at $3.0607 into play.

Barring another extended sell-off, however, EOS should avoid a return to sub-$3.00 levels. The second major support level at $3.0017 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $3.0607

Pivot Level: $3.1168

First Major resistance Level: $3.1758

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rose by 0.74% on Wednesday. Partially reversing a 6.02% slide from Tuesday, Ethereum ended the day at $386.1.

It was also a mixed start to the day. Ethereum rose to an early morning high $388.0 before hitting reverse.

Falling short of the first major resistance level at $405.31, Ethereum fell to an early afternoon intraday low $377.56.

Steering clear of the first major support level at $365.36, Ethereum rose to a late afternoon intraday high $393.50.

Falling short of the first major resistance level once more, Ethereum slipped back to sub-$390 to limit the upside.

At the time of writing, Ethereum was up by 0.06% to $386.34. A mixed start to the day saw Ethereum fall to an early morning low $385.63 before rising to a high $387.00.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 27/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $386 pivot to support a run at the first major resistance level at $394.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $393.50.

Barring an extended crypto rally, the first major resistance level and resistance at $400 would likely cap any upside.

Failure to avoid a fall through the $386 pivot would bring the first major support level at $378 into play.

Barring another extended sell-off, however, Ethereum should continue to steer clear of sub-$370 levels. The second major support level sits at $370.

Looking at the Technical Indicators

First Major Support Level: $378

Pivot Level: $386

First Major Resistance Level: $394

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 0.05% on Wednesday. Partially reversing a 4.22% slide from Tuesday, Ripple’s XRP ended the day at $0.27649.

It was a bearish start to the day. Ripple’s XRP fell to an early morning intraday low $0.27422 before finding support.

Steering clear of the first major support level at $0.2680, Ripple’s XRP rose to a late afternoon intraday high $0.28097.

Falling short of the first major resistance level at $0.2874, however, Ripple’s XRP slipped back to end the day at sub-$0.28 levels.

At the time of writing, Ripple’s XRP was up by 0.42% to $0.27765. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.27654 to a high $0.27765.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 27/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2772 pivot to support a run at the first major resistance level at $0.2802.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.28 levels.

Barring an extended crypto rally, the first major resistance level should cap any upside.

Failure to avoid a fall through the $0.2772 pivot would bring the first major support level at $0.2735 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.27 levels. The second major support level at $0.2705 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2735

Pivot Level: $0.2772

First Major Resistance Level: $0.2802

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – The Movers and Shakers – August 26th, 2020

Bitcoin, BTC to USD, slid by 3.60% on Tuesday. Reversing a 0.90% gain from Monday, Bitcoin ended the day at $11,341.4.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $11,778.0 before hitting reverse.

Falling short of the first major resistance level at $11,875, Bitcoin slid to a late afternoon intraday low $11,137.0.

Bitcoin fell through the day’s major support levels before a brief recovery to $11,400 levels.

The late recovery saw Bitcoin move back through the third major support level at $11,256 to reduce the deficit on the day.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day for the majors on Tuesday.

Cardano’s ADA (-8.99%), EOS (-7.77%), and Tron’s TRX (-8.54%) led the way down.

Bitcoin Cash SV (-6.04%), Ethereum (-6.02%), and Tezos (-6.54%) weren’t far behind.

Binance Coin (-5.22%), Bitcoin Cash ABC (-4.74%), Litecoin (-5.91%), Monero’s XMR (-5.75%), Ripple’s XRP (-4.22%), and Stellar’s Lumen (-5.58%) also struggled on the day.

In the current week, the crypto total market rose to a Monday high $360.52bn before falling to a Tuesday low $331.45bn. At the time of writing, the total market cap stood at $341.48bn.

Bitcoin’s dominance fell to a Monday low 60.62% before rising to a Tuesday high 64.08%. At the time of writing, Bitcoin’s dominance stood at 61.34%.

This Morning

At the time of writing, Bitcoin was up by 0.01% to $11,342.0. A bearish start to the day saw Bitcoin fall from an early morning high $11,350.0 to a low $11,219.9.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Binance Coin (+1.39%) and Tron’s TRX (+1.51%) led the way early on.

Bitcoin Cash SV (+0.62%), EOS (+0.19%), Monero’s XMR (+0.37%), Ripple’s XRP (+0.04%), and Stellar’s Lumen (+0.32%) also found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Bitcoin Cash ABC was down by 0.77% to lead the way down.

BTC/USD 26/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $11,419 to support a run at the first major resistance level at $11,701.

Support from the broader market would be needed, however, for Bitcoin to break out $11,500 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $12,060 before any pullback.

Failure to move through the $11,419 pivot level would bring the first major support level at $11,060 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,000 levels and the second major support level at $10,778.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 26th, 2020

EOS

EOS slid by 7.77% on Tuesday. Reversing a 1.99% gain from Monday, EOS ended the day at $3.1234.

A mixed start to the day saw EOS rise to an early morning intraday high $3.3961 before hitting reverse.

Falling short of the first major resistance level at $3.4516, EOS tumbled to a late afternoon intraday low $2.9523.

EOS fell through the day’s major support levels before moving back through to $3.14 levels late in the day.

The late partial recovery saw EOS move back through the third major support level at $3.0717.

At the time of writing, EOS was down by 0.68% to $3.1020. A bearish start to the day saw EOS fall from an early morning high $3.1269 to a low $3.0895.

EOS left the major support and resistance levels untested early on.

EOS/USD 26/08/20 Hourly Chart

For the day ahead

EOS would need to move through the $3.1573 pivot level to support a run at the first major resistance level at $3.3622.

Support from the broader market would be needed, however, for EOS to break out from the morning high $3.1269.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the pivot level at $3.1573 would bring the first major support level at $2.9184 into play.

Barring another extended sell-off, however, EOS should steer clear of the second major support level at $2.7135.

Looking at the Technical Indicators

First Major Support Level: $2.9184

Pivot Level: $3.1573

First Major resistance Level: $3.3622

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 6.02% on Tuesday. Reversing a 4.37% rally from Monday, Ethereum ended the day at $383.33.

It was also a mixed start to the day. Ethereum rose to an early morning intraday high $409.31 before hitting reverse.

Falling short of the first major resistance level at $417.39, Ethereum slid to a late afternoon intraday low $369.36.

Ethereum fell through the first major support level at $393.14 and the second major support level at $378.31.

Holding above the 38.2% FIB of $367, Ethereum moved back through the second major support level to end the day at $383 levels.

At the time of writing, Ethereum was down by 0.66% to $380.81. A bearish start to the day saw Ethereum fall from an early morning high $383.29 to a low $377.84.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 26/08/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $387.33 pivot to support a run at the first major resistance level at $405.31.

Support from the broader market would be needed, however, for Ethereum to break back through to $400 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the $387.33 pivot would bring the 38.2% FIB of $367 and the first major support level at $365.36 into play.

Barring another extended sell-off, however, Ethereum should continue to steer clear of sub-$350 levels. The second major support level sits at $347.38.

Looking at the Technical Indicators

First Major Support Level: $365.36

Pivot Level: $387.33

First Major Resistance Level: $405.31

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 4.22% on Tuesday. Reversing a 1.38% gain from Monday, Ripple’s XRP ended the day at $0.27653.

It was a bearish day. Ripple’s XRP slid from an early morning intraday high $0.28971 to a late afternoon intraday low $0.27035.

The sell-off saw Ripple’s XRP fall through the first major support level at $0.2834 and the second major support level at $0.2781.

Finding late support, Ripple’s XRP briefly revisited $0.2780 levels before easing back. The second major support level at $0.2781 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was down by 0.06% to $0.27637. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.27645 to a low $0.27422.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 26/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2789 pivot to support a run at the first major resistance level at $0.2874.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.28 levels.

Barring an extended crypto rally, the first major resistance level should cap any upside.

Failure to move through the $0.2789 pivot would bring the first major support level at $0.2680 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.26 and the second major support level at $0.2595.

Looking at the Technical Indicators

First Major Support Level: $0.2680

Pivot Level: $0.2789

First Major Resistance Level: $0.2874

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 25th, 2020

EOS

EOS rose by 1.99% on Monday. Reversing a 1.36% loss from Sunday, EOS ended the day at $3.3898.

A bearish start to the day saw EOS fall to an early morning intraday low $3.2807 before making a move.

Steering clear of the first major support level at $3.2366, EOS rallied to a late morning intraday high $3.4279.

EOS broke through the first major resistance level at $3.3960 before sliding back to $3.33 levels.

Finding late support, however, EOS broke back through the first resistance level before wrapping up the day $3.38 levels.

At the time of writing, EOS was up by 0.12% to $3.3937. A mixed start to the day saw EOS fall to an early morning low $3.3851 before rising to a high $3.3961.

EOS left the major support and resistance levels untested early on.

EOS/USD 25/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.3661 pivot level to support a run at the first major resistance level at $3.4516.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $3.4279.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the pivot level at $3.3661 would bring the first major support level at $3.3044 into play.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $3.2189.

Looking at the Technical Indicators

First Major Support Level: $3.3044

Pivot Level: $3.3661

First Major resistance Level: $3.4516

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 4.37% on Monday. Reversing a 1.23% fall from Sunday, Ethereum ended the day at $407.98.

It was also a bearish start to the day. Ethereum fell to an early morning intraday low $387.72 before making a move.

Steering clear of the first major support level at $382.89, Ethereum rallied to a late intraday high $411.97.

Ethereum broke through the first major resistance level at $399.22 and the second major resistance level at $407.78.

A late pullback saw Ethereum fall through the second major resistance level at $407.78 before wrapping up the day at $407.98.

At the time of writing, Ethereum was up by 0.11% to $408.43. A mixed start to the day saw Ethereum fall to an early morning low $407.61 before rising to a high $409.31.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 25/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $402.56 pivot to support a run at the first major resistance level at $417.39.

Support from the broader market would be needed, however, for Ethereum to break out from the Monday’s high $411.97.

Barring an extended crypto rally, the first major resistance level and Monday’s high would likely cap any upside.

Failure to avoid a fall through the $402.56 pivot would bring the first major support level at $393.14 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of the 38.2% FIB of $367. The second major support level at $378.31 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $393.14

Pivot Level: $402.56

First Major Resistance Level: $417.39

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 1.38% on Monday. Reversing a 0.42% decline from Sunday, Ripple’s XRP ended the day at $0.2887.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.28238 before making a move.

Steering clear of the first major support level at $0.2791, Ripple’s XRP rallied to a late morning intraday high $0.2920.

Ripple’s XRP broke through the first major resistance level at $0.2895 before falling back to sub-$0.2860 levels.

Finding late support, however, Ripple’s XRP revisited $0.2890 levels before easing back. The first major resistance level pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by $0.26% to $0.28945. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28870 before rising to a high $0.28971.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 25/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2877 pivot to support a run at the first major resistance level at $0.2930.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.2920.

Barring an extended crypto rally, the first major resistance level and Monday’s high should cap any upside.

Failure to avoid a fall through the $0.2877 pivot would bring the first major support level at $0.2834 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.28 and the second major support level at $0.2781.

Looking at the Technical Indicators

First Major Support Level: $0.2834

Pivot Level: $0.2877

First Major Resistance Level: $0.2930

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

Weekly Recap: Bitcoin Above $11,500, Ethereum Above $380

Bitcoin has not broken the uptrend, though, and is continuing its ascension. On Saturday, 22 August, Bitcoin slightly rebounded off the weekly support level at $11,574 thus keeping it intact. Despite falling sharply, Ethereum has not breached its daily $378 support level either, allowing us to consider the ETH uptrend still running on.

How the week went for Bitcoin

Last week started for Bitcoin with a sharp surge on Monday in one 4-hour candlestick. Then the weekly high was made and the cryptocurrency began slowly slipping down henceforth. The first significant hurdle to that downslide was found on Wednesday, 19 August, when the price of Bitcoin reached the supporting trendline for Bitcoin’s local ascension move that began on 27 July.

The market leader rebounded slightly off this trend line, reaching above the 50-period SMA on the 4-hour chart and daily level at $11,862. But the upside move was small and short-lived, as a result BTC/USD slumped below the supporting trendline on Friday, 21 August.

On Friday, the pair finished below the $11,574 resistance level at $11,503, but rebounded back above it on Saturday. We thus may state that the fact the $11,574 resistance is keeping up Bitcoin’s upside trade, and the uptrend has not yet been reversed, judging by the graphic pattern formed. However, the dip below the 20-period and 50-period SMAs increases potential downside risks.

How the week went for Ethereum

Ethereum started off this week with a moderately paced downside move that continued through Wednesday. There was a modest rebound on Thursday, however accompanied by a downside convergence of the 20-period SMA over the 50-perod SMA on the 4-hour chart. The pair was trending down until it almost touched the $370 daily support level on Friday. On Saturday and Sunday ETH/USD basically traded flat, staying above $390 most of the time.

The week has been negatively marked for Ethereum by a failure on the testnet Medalla built for Ethereum 2.0 proof-of-work on 18 August. One of the six servers on which Medalla runs reported the time as being one day ahead of actual time. The system averaged out the time discrepancy by shifting the time on all servers by 4 hours ahead of the present. As a result, “validators incorrectly proposed blocks and attestations for future slots,” as per Prysmatic Labs’ official report. The glitch in the system took most of the network’s validators offline.

On that day Raul Jordan – Prysmatic Labs’ editor – wrote in his blog that Prysmatic Labs believed, ‘this incident does not inherently affect the launch date.’ On August 19, the testnet was running again though not yet in a stable manner on a number of accounts. Still, the incident produced a notable effect on the trade of ETH/USD with the week’s biggest losses registered on the 18th and 19th August.

Forecast for this week

Bitcoin’s uptrend is under the threat of a downside reversal. The key support level of $11,574 is in the market’s focus. The space between the weekly support and the daily resistance levels is very small for a week’s time, and the price of the BTC/USD pair is unlikely to remain within its boundaries this week, however, there may be false breakthroughs that will ultimately let it stay within the corridor by the end of the week. Still, either a downside or upside exits are the more likely options.

Bitcoin’s uptrend so far looks intact with the weekly resistance holding on. However, the continuation of the uptrend looks questionable. The most reasonable decision for position traders now would be to wait and see until the situation clears. As for the odds of the direction Bitcoin continues, the likelier option is up, given its position around the weekly $11,574 support level. Shorting Bitcoin in the current situation might be a higher risk move.

For Ethereum, the situation also appears rather mixed. Approaching trading Ethereum versus dollar this week, one should closely monitor the news concerning Medalla testnet. The Ethereum 2.0 project is expected to increase the scalability of Ethereum and thus gives substantial fundamental input to its market valuation. However the project’s realisation will have the ultimate impact on the market’s reaction to it.

Ethereum was in a downtrend through last week and slowed down its descent, nearing daily support. A further upside move looks a technically plausible option and a buying order at $380 may be not a bad option. Nevertheless any negative news may create a threat for this scenario. However, a mid-term short order for ETH/USD looks a much riskier option in the current situation.

Konstantin Anissimov, Executive Director at CEX.IO

The Crypto Daily – Movers and Shakers – August 24th, 2020

Bitcoin, BTC to USD, slipped by 0.17% on Sunday. Following a 1.37% gain on Saturday, Bitcoin ended the week down by 2.19% to $11,663.0.

It was a mixed start to the day. Bitcoin rose to an early morning high $11,709.0 before hitting reverse.

Falling short of the first major resistance level at $11,787, Bitcoin slid to a late morning intraday low $11,538.0.

Steering clear of the first major support level at $11,465, Bitcoin struck a late intraday high $11,736.

Falling short of the first major resistance level at $11,787, Bitcoin fell back to $11,650 levels before finding support.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day for the majors on Sunday.

Litecoin and Stellar’s Lumen rose by 0.53% and by 0.60% to buck the trend on the day.

It was a bearish day for the rest of the majors.

Cardano’s ADA (-3.17%), Monero’s XMR (-3.73%) and Tron’s TRX (-3.52%) led the way down.

Binance Coin (-1.71%), Bitcoin Cash ABC (-1.12%), Bitcoin Cash SV (-1.57%), EOS (-1.36%), Ethereum (-1.23%), and Tezos (-1.85%) also struggled.

Ripple’s XRP (-0.42%) saw modest losses on the day.

For the week, it was a bearish for the majors, however.

Tezos (-17.18%), EOS (-14.44%), Tron’s TRX (-13.82%), Bitcoin Cash SV (-13.10%), Cardano’s ADA (-12.59%), and Stellar’s Lumen (-10.86%) led the way down.

Binance Coin (-7.18%), Bitcoin Cash ABC (-6.49%), Ethereum (-9.92%), Litecoin (-5.22%), and Ripple’s XRP (-6.52%) also struggled.

Monero’s XMR fell by just 0.22%, however.

In the week, the crypto total market rose to a Monday high $384.00bn before sliding to a Saturday low $338.58bn. At the time of writing, the total market cap stood at $349.94bn.

Bitcoin’s dominance fell to a Monday low 59.97% before rising to a Wednesday high 62.00%. At the time of writing, Bitcoin’s dominance stood at 61.41%.

This Morning

At the time of writing, Bitcoin was down by 0.31% to $11,627.3. A bearish start to the day saw Bitcoin fall from an early morning high $11,667 to a low $11,605.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was also a bearish start to the day.

At the time of writing, Stellar’s Lumen was down by 1.46% to lead the way down.

BTC/USD 24/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $11,646 to support a run at the first major resistance level at $11,753.

Support from the broader market would be needed, however, for Bitcoin to break out Sunday’s high $11,736.0.

Barring an extended crypto rally, the first major resistance level and Sunday’s high would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,844 before any pullback.

Failure to move through the $11,646 pivot level would bring the first major support level at $11,555 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$11,500 and the second major support level at $11,448.

In the event of an extended sell-off, Bitcoin could test the third major support level at $11,250 before any recovery.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 24th, 2020

EOS

EOS fell by 1.36% on Sunday. Partially reversing a 3.48% rally from Saturday, EOS ended the week down by 14.44% to $3.3199.

A mixed start to the day saw EOS rise to an early morning intraday high $3.3887 before hitting reverse.

Falling short of the first major resistance level at $3.4444, EOS slid to a late morning intraday low $3.2293.

Steering clear of the first major support level at $3.2208, EOS revisited $3.37 levels before falling back into the red.

At the time of writing, EOS was down by 0.78% to $3.2940. A bearish start to the day saw EOS fall from an early morning high $3.3272 to a low $3.2898.

EOS left the major support and resistance levels untested early on.

EOS/USD 24/08/20 Hourly Chart

For the day ahead

EOS would need to move through the $3.3126 pivot level to support a run at the first major resistance level at $3.3960.

Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $3.3887.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the pivot level at $3.3126 would bring the first major support level at $3.2366 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.00 levels. The second major support level at $3.1532 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $3.2366

Pivot Level: $3.3126

First Major resistance Level: $3.3960

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.23% on Sunday. Partially reversing a 1.96% gain from Saturday, Ethereum ended the week down by 9.92% to $390.67.

It was also a mixed start to the day. Ethereum rose to an early morning intraday high $400.0 before hitting reverse.

Falling short of the first major resistance level at $403.72, Ethereum slid to a mid-day intraday low $383.67.

Finding support at the first major support level at $383.52, Ethereum revisited $396 levels before falling back into the red.

At the time of writing, Ethereum was down by 0.38% to $389.19. A bearish start to the day saw Ethereum fall from an early morning high $391.00 to a low $388.91.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 24/08/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $391.45 pivot to support a run at the first major resistance level at $399.22.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $391.00.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $400.0 would likely cap any upside.

Failure to move through the $391.45 pivot would bring the first major support level at $382.89 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the 38.2% FIB of $367. The second major support level at $375.12 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $382.89

Pivot Level: $391.45

First Major Resistance Level: $399.22

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 0.42% on Sunday. Partially reversing a 2.50% gain from Sunday, Ripple’s XRP ended the week down by 6.52% to $0.28493.

It was a mixed start to the day. Ripple’s XRP rose to an early morning high $0.2811 before hitting reverse.

Falling short of the first major resistance level at $0.2909, Ripple’s XRP slid to a late morning intraday low $0.27773.

Finding support at the first major support level at $0.2773, Ripple’s XRP recovered to $0.287 levels before falling back into the red.

At the time of writing, Ripple’s XRP was down by 0.64% to $0.28310. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.28476 to a low $0.28310.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 24/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2836 pivot to support a run at the first major resistance level at $0.2895.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.28811.

Barring an extended crypto rally, the first major resistance level and Sunday’s high should cap any upside.

Failure to move through the $0.2836 pivot would bring the first major support level at $0.2791 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2732.

Looking at the Technical Indicators

First Major Support Level: $0.2791

Pivot Level: $0.2836

First Major Resistance Level: $0.2895

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – August 23rd, 2020

Bitcoin, BTC to USD, rose by 1.24% on Saturday. Partially reversing a 2.81% loss from Friday, Bitcoin ended the day at $11,673.5.

It was a bearish start to the day. Bitcoin slid to an early morning intraday low $11,369.5 before finding support.

The reversal saw Bitcoin fall through the first major support level at $11,379.67 before rising to a late intraday high $11,692.0.

Falling short of the first major resistance level at $11,783.67, Bitcoin wrapped up the day at sub-$11,700 levels.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day for the majors on Saturday.

EOS (+3.48%), Tezos (+5.69%), and Tron’s TRX (+3.61%) led the way.

Bitcoin Cash ABC (+2.30%), Litecoin (+2.08%), Monero’s XMR (+2.55%), Ripple’s XRP (+2.50%), and Stellar’s Lumen (+2.65%) also found strong support.

Binance Coin (+0.59%), Bitcoin Cash SV (+0.36%), Cardano’s ADA (+1.68%), and Ethereum (+1.96%) trailed the front runners.

In the current week, the crypto total market rose to a Monday high $384.00bn before sliding to a Saturday low $338.56bn. At the time of writing, the total market cap stood at $351.70bn.

Bitcoin’s dominance fell to a Monday low 59.97% before rising to a Wednesday high 62.00%. At the time of writing, Bitcoin’s dominance stood at 61.27%.

This Morning

At the time of writing, Bitcoin was down by 0.08% to $11,664.5. A mixed start to the day saw Bitcoin rise to an early morning high $11,694.5 before falling to a low $11,660.5.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash ABC (+0.06%), Bitcoin Cash SV (+0.33%), and Cardano’s ADA (+0.07% found early support.

It was bearish for the rest of the majors, however.

At the time of writing, Tron’s TRX was down by 1.51% to lead the way down.

BTC/USD 23/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $11,578 to support a run at the first major resistance level at $11,787.

Support from the broader market would be needed, however, for Bitcoin to break out Saturday’s high $11,692.0.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,901 and resistance at $12,000.

Failure to avoid a fall through the $11,578 pivot level would bring the first major support level at $11,465 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid the second major support level at $11,256.

In the event of an extended sell-off, Bitcoin could test support at $11,000 before any recovery.

The Crypto Daily – Movers and Shakers – August 22nd, 2020

Bitcoin, BTC to USD, fell by 2.81% on Friday. Reversing a 0.91% gain from Thursday, Bitcoin ended the day at $11,530.

It was a mixed start to the day. Bitcoin rose to an early morning high $11,887.0 before hitting reverse.

Falling short of the first major resistance level at $11,947, Bitcoin fell to a late intraday low $11,483.0.

Bitcoin fell through the first major support level at $11,729 and the second major support level at $11,594.

Finding late support, Bitcoin briefly revisited $11,590 levels before easing back. The second major resistance level pinned Bitcoin back late in the day.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day for the majors on Friday.

Tezos and Tron’s TRX led the way down, with losses of 12.14% and 11.55% respectively.

Bitcoin Cash SV (-6.55%), Cardano’s ADA (-8.33%), Ethereum (-6.70%), Monero’s XMR (-9.28%), and Stellar’s Lumen (-7.19%) also saw particularly heavy losses.

Binance Coin (-4.33%), Bitcoin Cash ABC (-3.92%), EOS (-5.59%), Litecoin (-5.86%), and Ripple’s XRP (-4.53%) saw relatively modest losses.

In the current week, the crypto total market rose to a Monday high $384.00bn before sliding to an early Saturday low $339.58bn. At the time of writing, the total market cap stood at $341.81bn.

Bitcoin’s dominance fell to a Monday low 59.97% before rising to a Wednesday high 62.00%. At the time of writing, Bitcoin’s dominance stood at 61.78%.

This Morning

At the time of writing, Bitcoin was down by 0.81% to $11,463.5. A bearish start to the day saw Bitcoin fall from an early morning high $11,540.0 to a low $11,400.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a particularly bearish start to the day.

At the time of writing, Monero’s XMR was down by 2.56% to lead the way down.

BTC/USD 22/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $11,633 to support a run at the first major resistance level at $11,784.

Support from the broader market would be needed, however, for Bitcoin to break out from $11,500 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $12,037 before any pullback.

Failure to move through the $11,633 pivot level would bring the first major support level at $11,380 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid the second major support level at $11,229.

In the event of an extended sell-off, Bitcoin could test support at $11,000 before any recovery.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 22nd, 2020

EOS

EOS slid by 5.59% on Friday. Reversing a 2.74% gain from Thursday, EOS ended the day at $3.2508.

It was a mixed start to the day. EOS dipped to an early morning low $3.3806 before finding support.

Steering clear of the first major support level at $3.3725, EOS rallied to a mid-morning intraday high $3.6292.

EOS broke through the first major resistance level at $3.4882 and the second major resistance level at $3.5323.

The upside was short-lived, however, with EOS sliding to a late intraday low $3.2195.

EOS fell through the first major support level at $3.3725 and the second major support level at $3.3009.

At the time of writing, EOS was down by 0.33% to $3.2399. A mixed start to the day saw EOS rise to an early morning high $3.2603 before falling to a low $3.2254.

EOS left the major support and resistance levels untested early on.

EOS/USD 22/08/20 Hourly Chart

For the day ahead

EOS would need to move through the $3.3665 pivot level to support a run at the first major resistance level at $3.5135.

Support from the broader market would be needed, however, for EOS to break back through to $3.50 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the pivot level at $3.3665 would bring the first major support level at $3.1038 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$3.00 levels. The second major support level sits at $2.9568.

Looking at the Technical Indicators

First Major Support Level: $3.1038

Pivot Level: $3.3665

First Major resistance Level: $3.5135

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 6.70% on Friday. Reversing a 2.04% gain from Thursday, Ethereum ended the day at $388.05.

It was also a mixed start to the day. Ethereum rose to an early morning high $418.92 before hitting reverse.

Falling short of the first major resistance level at $422.90, Ethereum slid to a late intraday low $385.00.

Ethereum fell through the first major support level at $405.62 and the second major support level at $395.32.

At the time of writing, Ethereum was down by 0.88% to $384.65. A mixed start to the day saw Ethereum rise to an early morning high $388.27 before falling to a low $382.02.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 22/08/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $397.32 pivot to support a run at the first major resistance level at $409.65.

Support from the broader market would be needed, however, for Ethereum to break back through to $400 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the $397.32 pivot would bring the first major support level at $375.73 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 38.2% FIB of $367 and the second major support level at $363.40.

Looking at the Technical Indicators

First Major Support Level: $375.73

Pivot Level: $397.32

First Major Resistance Level: $409.65

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 4.53% on Friday. Reversing a 0.84% gain from Thursday, Ripple’s XRP ended the day at $0.27921.

It was a relatively bullish start to the day. Ripple’s XRP rose to an early morning high $0.29577 before hitting reverse.

Falling short of the first major resistance level at $0.2967, Ripple’s XRP slid to a late intraday low $0.27752.

Ripple’s XRP fell through the first major support level at $0.2865 and the second major support level at $0.2806.

Finding late support, Ripple’s XRP briefly revisited $0.2820 levels before sliding back through the second major support level.

At the time of writing, Ripple’s XRP was down by 1.04% to $0.27630. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.27949 before falling to a low $0.27569.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 22/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2842 pivot to support a run at the first major resistance level at $0.2908.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.29 levels.

Barring an extended crypto rally, the first major resistance level should cap any upside.

Failure to move through the $0.2842 pivot would bring the first major support level at $0.2726 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level sits at $0.2659.

Looking at the Technical Indicators

First Major Support Level: $0.2726

Pivot Level: $0.2842

First Major Resistance Level: $0.2908

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – August 21st, 2020

Bitcoin, BTC to USD, rose by 0.91% on Thursday. Partially reversing a 1.65% fall from Wednesday, Bitcoin ended the day at $11,864.0.

It was a mixed start to the day. Bitcoin rose to an early morning high $11,831.0 before hitting reverse.

Falling short of the first major resistance level at $11,998, Bitcoin fell to a mid-morning intraday low $11,677.0.

Steering clear of the first major support level at $11,541, Bitcoin rose to a late intraday high $11,894.5.

Coming up short of the first major resistance level, Bitcoin slipped back to limit the upside on the day.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day for the majors on Thursday.

Monero’s XMR jumped by 10.79% to lead the way.

Binance Coin (+3.13%), Cardano’s ADA (+3.48%), Stellar’s Lumen (+7.13%), Tezos (+6.15%), and Tron’s TRX (+3.51%) also found strong support.

Bitcoin Cash SV (+0.10%), EOS (+2.74%), Ethereum (+2.04%), Litecoin (+1.08%), and Ripple’s XRP (+0.84%) trailed the front runners.

Bitcoin Cash ABC bucked the trend, falling by 0.19%.

In the current week, the crypto total market rose to a Monday high $384.00bn before sliding to a Wednesday low $344.71bn. At the time of writing, the total market cap stood at $358.95bn.

Bitcoin’s dominance fell to a Monday low 59.97% before rising to a Wednesday high 62.00%. At the time of writing, Bitcoin’s dominance stood at 60.94%.

This Morning

At the time of writing, Bitcoin was down by 0.18% to $11,842.5. A mixed start to the day saw Bitcoin rise to an early morning high $11,887.0 before falling to a low $11,834.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Monero’s XMR was up by 1.84% to lead the way.

Bitcoin Cash ABC (+0.59%), Bitcoin Cash SV (+0.42%), and Tron’s TRX (+0.25%) also found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Tezos was down by 1.82% to lead the way down.

BTC/USD 21/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $11,812 to support a run at the first major resistance level at $11,947.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,900 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $11,894.5 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $12,029 before any pullback.

Failure to avoid a fall through the $11,812 pivot level would bring the first major support level at $11,729 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid the second major support level at $11,594.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 21st, 2020

EOS

EOS rose by 2.74% on Thursday. Partially reversing a 6.31% slide from Wednesday, EOS ended the day at $3.4440.

It was a mixed start to the day. EOS dipped to an early morning intraday low $3.3451 before finding support.

Steering clear of the first major support level at $3.1646, EOS rose to an early afternoon intraday high $3.4608.

Falling short of the first major resistance level at $3.5822, EOS fell back to $3.37 levels before finding late support.

At the time of writing, EOS was up by 0.07% to $3.4465. A mixed start to the day saw EOS fall to an early morning low $3.4389 before rising to a high $3.4519.

EOS left the major support and resistance levels untested early on.

EOS/USD 21/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.4166 pivot level to support a run at the first major resistance level at $3.4882.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $3.4608.

Barring an extended crypto rally, the first major resistance level and Thursday’s high would likely cap any upside.

Failure to avoid a fall through the pivot level at $3.4166 would bring the first major support level at $3.3725 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.30 levels. The second major support level at $3.3009 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $3.3725

Pivot Level: $3.4166

First Major resistance Level: $3.4882

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 2.04% on Thursday. Partially reversing a 3.49% slide from Wednesday, Ethereum ended the day at $415.92.

It was also a mixed start to the day. Ethereum rose to an early morning high $415.67 before hitting reverse.

Falling short of the first major resistance level at $425.12, Ethereum slid to a mid-morning intraday low $402.3.

Steering clear of the first major support level at $391.90, Ethereum rallied to a late intraday high $419.59.

Coming up short of the first major resistance level, Ethereum slipped back to wrap up the day a $415 levels.

At the time of writing, Ethereum was up by 0.60% to $418.43. A bullish start to the day saw Ethereum rise from an early morning low $415.67 to a high $418.92.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 21/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $412.60 pivot to support a run at the first major resistance level at $422.90.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $419.58.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $412.60 pivot would bring the first major support level at $405.62 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $395.32.

Looking at the Technical Indicators

First Major Support Level: $405.62

Pivot Level: $412.60

First Major Resistance Level: $422.90

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 0.84% on Thursday. Following a 4.29% slide on Wednesday, Ripple’s XRP ended the day at $0.29246.

Tracking the broader market, Ripple’s XRP rose to an early morning high $0.29307 before hitting reverse.

Falling short of the first major resistance level at $0.3043, Ripple’s XRP slid to a mid-morning intraday low $0.28482.

Steering clear of the first major support level at $0.2772, Ripple’s XRP rallied to a late intraday high $0.2950.

Falling short of the first major resistance level once more, Ripple’s XRP fell back $0.2900 before wrapping up the day at $0.292 levels.

At the time of writing, Ripple’s XRP was down by 0.01% to $0.29244. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.29312 before falling to a low $0.29241.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 21/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2908 pivot to support a run at the first major resistance level at $0.2967.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.2950.

Barring an extended crypto rally, the first major resistance level and Thursday’s high should cap any upside.

Failure to avoid a fall through the $0.2908 pivot would bring the first major support level at $0.2865 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.28 levels on the day.

The second major support level at $0.2806 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2865

Pivot Level: $0.2908

First Major Resistance Level: $0.2967

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 20th, 2020

EOS

EOS slid by 6.31% on Wednesday. Following on from a 5.35% loss on Tuesday, EOS ended the day at $3.3497.

It was a mixed start to the day. EOS rose to an early morning intraday high $3.6295 before hitting reverse.

Falling short of the first major resistance level at $3.7944, EOS slid to a late intraday low $3.2119.

EOS fell through the first major support level at $3.4097 and the second major support level at $3.2416.

Finding support late in the day, EOS broke back through the second major support level to cut the deficit.

At the time of writing, EOS was up by 1.11% to $3.3869. A bullish start to the day saw EOS rise from an early morning low $3.3451 to a high $3.3958.

EOS left the major support and resistance levels untested early on.

EOS/USD 20/08/20 Hourly Chart

For the day ahead

EOS would need to move back through the $3.3970 pivot level to support a run at the first major resistance level at $3.5822.

Support from the broader market would be needed, however, for EOS to break back through to $3.50 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $3.6295 would likely cap any upside.

Failure to move back through the pivot level at $3.3970 would bring the first major support level at $3.1646 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.00 levels. The second major support level sits at $2.9794.

Looking at the Technical Indicators

First Major Support Level: $3.1646

Pivot Level: $3.3970

First Major resistance Level: $3.5822

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 3.49% on Wednesday. Following on from a 2.13% decline on Tuesday, Ethereum ended the day at $407.59.

A bullish start to the day saw Ethereum rise to an early morning intraday high $426.97 before hitting reverse.

Falling short of the first major resistance level at $432.87, Ethereum slid to a late intraday low $393.75.

Ethereum fell through the first major support level at $413.15 and the second major support level at $403.99.

Finding late support, Ethereum moved back through the second major support level to limit the loss on the day.

At the time of writing, Ethereum was up by 1.15% to $412.27. A bullish start to the day saw Ethereum rise from an early morning low $407.59 to a high $412.37.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 20/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall back through the $409.44 pivot to support a run at the first major resistance level at $425.12.

Support from the broader market would be needed, however, for Ethereum to break back through to $420 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $426.97 would likely cap any upside.

Failure to avoid a fall through the $409.44 pivot would bring the first major support level at $391.90 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $376.22.

Looking at the Technical Indicators

First Major Support Level: $391.90

Pivot Level: $409.44

First Major Resistance Level: $425.12

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 4.29% on Wednesday. Following on from a 3.98% decline on Tuesday, Ripple’s XRP ended the day at $0.28992.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.30603 before hitting reverse.

Falling short of the first major resistance level at $0.3170, Ripple’s XRP slid to a late intraday low $0.2789.

Ripple’s XRP fell through the first major support level at $0.2935 and the second major support level at $0.2840.

Finding support late in the day, Ripple’s XRP broke back through the second major support level to reduce the loss on the day.

At the time of writing, Ripple’s XRP was up by 0.41% to $0.29112. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28984 before rising to a high $0.29134.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 20/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2916 pivot to support a run at the first major resistance level at $0.3043.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.30603 should cap any upside.

Failure to move through the $0.2916 pivot would bring the first major support level at $0.2772 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.26 levels on the day.

The second major support level at $0.2645 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2772

Pivot Level: $0.2916

First Major Resistance Level: $0.3043

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 19th, 2020

EOS

EOS slid by 5.35% on Tuesday. Following on from a 2.60% decline on Monday, EOS ended the day at $3.5778.

It was a bullish start to the day. EOS rose to an early morning intraday high $3.8280 before hitting reverse.

Falling short of the first major resistance level at $3.9174, EOS slid to an early afternoon intraday low $3.4582.

EOS fell through the first major support level at $3.6473 and the second major support level at $3.5153.

Finding support through the afternoon, EOS briefly revisited $3.68 levels before falling back through the first major support level.

At the time of writing, EOS was down by 4.95% to $3.4008. A mixed start to the day saw EOS rise to an early morning high $3.6295 before falling to a low $3.3424.

EOS fell through the first major support level at $3.4097 early on.

EOS/USD 19/08/20 Hourly Chart

For the day ahead

EOS would need to move through the first major support level at $3.4097 and the $3.626 pivot level to support a run at the first major resistance level at $3.7944.

Support from the broader market would be needed, however, for EOS to break out from the morning high $3.6295.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the first major support level and the pivot level at $3.6263 would bring the second major support level at $3.2416 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.20 levels. The third major support level sits at $2.8569.

Looking at the Technical Indicators

First Major Support Level: $3.4097

Pivot Level: $3.6263

First Major Resistance Level: $3.7944

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 2.13% on Tuesday. Following on from a 0.51% decline on Monday, Ethereum ended the day at $422.31.

A bullish start to the day saw Ethereum rise to an early morning intraday high $434.27 before hitting reverse.

Falling short of the first major resistance level at $445.83, Ethereum slid to an early afternoon intraday low $414.55.

Ethereum fell through the first major support level at $418.83 before finding support. Late in the day, Ethereum revisited $429 levels before falling back to $422 levels.

At the time of writing, Ethereum was down by 2.93% to $409.95. It was a mixed start to the day. Ethereum rose to an early morning high $426.97 before falling to an early morning low $406.12.

Ethereum fell through the first major support level at $413.15 early on.

ETH/USD 19/08/20 Hourly Chart

For the day ahead

Ethereum would need to move through the first major support level and the $423.71 pivot to support a run at the first major resistance level at $432.87.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $426.97.

Barring an extended crypto rally, the first major resistance level should cap any upside.

Failure to move through the first major support level and the $423.71 pivot would bring the second major support level at $403.99 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$400 levels. The third major support level sits at $384.27.

Looking at the Technical Indicators

First Major Support Level: $413.15

Pivot Level: $423.71

First Major Resistance Level: $432.87

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 3.98% on Tuesday. Reversing a 3.51% rally from Monday, Ripple’s XRP ended the day at $0.30292.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.32168 before hitting reverse.

Falling short of the first major resistance level at $0.3289, Ripple’s XRP slid to an early afternoon intraday low $0.29810.

Ripple’s XRP fell through the first major support level at $0.3008 before finding support.

Late in the day, Ripple’s XRP briefly revisited $0.3090 levels before falling back into the deep red.

At the time of writing, Ripple’s XRP was down by 4.93% to $0.28798. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.30603 before sliding to a low $0.28620.

Ripple’s XRP fell through the first major support level at $0.2935 early on.

XRP/USD 19/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the first major support level and the $0.3076 pivot to support a run at the first major resistance level at $0.3170.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.30603.

Barring an extended crypto rally, 23.6% FIB of $0.3134 and the first major resistance level should cap any upside.

Failure to move through the first major support level and the $0.3076 pivot would bring the second major support level at $0.2840 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.28 levels on the day.

The third major support level sits at $0.2604.

Looking at the Technical Indicators

First Major Support Level: $0.2935

Pivot Level: $0.3076

First Major Resistance Level: $0.3170

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – The Movers and Shakers – August 19th, 2020

Bitcoin, BTC to USD, fell by 2.79% on Tuesday. Reversing most of a 3.18% rally from Monday, Bitcoin ended the day at $11,954.5.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $12,402.0 before hitting reverse.

Falling short of the first major resistance level at $12,616.33, Bitcoin tumbled to an early afternoon intraday low $11,811.5.

Bitcoin fell through the first major support level at $11,846.83 before briefly revisiting $12,000 levels.

A bearish end to the day left Bitcoin back at sub-$12,000 levels and in the deep red.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day for the majors on Tuesday.

Bitcoin Cash ABC (-4.99%), Bitcoin Cash SV (-3.83%), EOS (-5.35%), Ripple’s XRP (-3.98%), Stellar’s Lumen (-4.90%), Tezos (-5.07%), and Tron’s TRX (-5.15%) led the way down.

Binance Coin (-2.21%), Cardano’s ADA (-2.42%), Ethereum (-2.13%), Litecoin (-2.62%), and Monero’s XMR (-0.28%) saw relatively modest losses on the day.

At the start of the week, the crypto total market rose to a Monday high $384.00bn before sliding to an early Wednesday low $349.40bn. At the time of writing, the total market cap stood at $352.81bn.

Bitcoin’s dominance fell to a Monday low 59.97% before rising to a Wednesday morning high 61.61%. At the time of writing, Bitcoin’s dominance stood at 61.39%.

This Morning

At the time of writing, Bitcoin was down by 1.76% to $11,744.0. A mixed start to the day saw Bitcoin rise to an early morning high $12,022.5 before sliding to a low $11,650.0.

Bitcoin fell through the first major support level at $11,710.0 early on.

Elsewhere, it was also a bearish start to the day for the crypto majors.

At the time of writing, Tron’s TRX was down by 6.66% to lead the way down.

BTC/USD 19/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $12,056 to support a run at the first major resistance level at $12,301.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $12,022.5.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test resistance at $12,500 before any pullback.

Failure to move through the $12,056 pivot level would bring the first major support level at $11,710 back into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,500 support levels. The second major support level sits at $11,466.

Gold Price Supported by a Weak Dollar, Bitcoin Keeps Gaining

As the tensions rise between US and China and Euro stocks are not showing signs of recovery, Gold is once again referred to as a safe haven to those who hedge their funds. With that being said, Bitcoin known as the digital Gold gained 2.71% and continues the climb towards 13K.

Despite technological gains in the US, Nasdaq +1.00%, SPX +0.27% today, US Dollar index is losing against other currencies, as the US Commerce Department delivered further restrictions on Huawei. As tensions between the two: US and China rise, so rises the VIX index and Gold price will rise accordingly.

Gold Price

From the technical point of view, Gold is now testing a dynamic resistance of August 12 and is about to break out as the impulse wave looks strong and there are other patterns that confirm the breakout and strength of the impulse. The climb might continue towards $2028 and $2064 if US and China officials do not kick off the negotiation process and show some development in regulating the “Trade War”.

Other indices you should be following to trace the development of Gold price is EUROSTOXX 50, Euronext 100 and DAX, as a major opposing currency to the US Dollar is currently Euro and if Europe shows well-grounded signs of recovery, then major investors would definitely bet on Euro.

EURUSD price on Overbit

As the article is being published, Euro is testing the resistance at $1.1910. EU Finance Ministers meeting, which will be held soon, will surely create some volatility until the US housing data is released. From the technical point of view, EURUSD should show another drop towards $1.1700 to complete the rectangle pattern.

The last impulse wave on an hourly chart is not strong but what it shows us here is that Euro investors have gained enough power to bring the Euro as close to the resistance as possible and surely, we will see some massive green or red candles. RSI indicates that Euro is overbought, so it should correct from this point slightly, though above the resistance and if the resistance is tested as support, definitely the climb will continue towards $1.2000 – 1.2040.

Bitcoin is above $12K, which led the crypto investors in the euphoria of high gains push the price towards $12500. Since Bitcoin is lately is correlated to Gold and is referred to as a digital safe-haven, the price gained amid Gold surge.

Bitcoin price on Overbit

Bitcoin will most likely start the correction here if the dynamic resistance of August 6 is not broken. The bullish flag pattern fills hearts of crypto investors with confidence of seeing $13K, however investors might look into selling BTC to regain power for another jump, the best level for this would be $12100 and $12000.

Bitcoin price on Overbit

The bullish flag on 15-minute chart provides a clear sign of another uptrend move towards $12500, though BTC must breakout from the dynamic resistance (the upper edge of the flag).

Last week we witnessed another shocking gain for Ethereum, where the alt gained 11.09%, though this week Ethereum lost only 1% in price, technicals say that the decline might continue towards $415-407. Both $415 and $407 are major supports and should give Ethereum a kick to show another jump. The price action of August 16 demonstrates exhaustion of bulls, the wave is not impulsive, hence correction should be expected. Though if Ethereum closes above $433 and breaks $440, bulls may support the uptrend and the alt amy continue the run towards the resistances ahead.

Ethereum price on Overbit

Keep an eye on the news, trace Economic data and US-China development, there are other fundamentals you definitely should check such as VIX, Fear and Greed, and other market sentiment data. Tomorrow is the CPI announcement day, so stay tuned and trace the data released by the UK, Canada, Eurozone, for commodities investors follow the Crude Oil Inventories which will be published tomorrow in the US as well as FOMC Meeting Minutes.

For a look at all of today’s economic events, check out our economic calendar.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 18th, 2020

EOS

EOS fell by 2.60% on Monday. Partially reversing a 4.11% gain on Sunday, EOS ended the day at $3.7793.

It was a bearish start to the day. EOS fell to an early afternoon intraday low $3.5750 before finding support.

The pullback saw EOS fall through the first major support level at $3.5790, before striking an intraday high $3.9235.

Falling short of the first major resistance level at $4.0829, EOS fell back to sub-$3.80 levels and into the red.

At the time of writing, EOS was up by 0.52% to $3.7991. A bullish start to the day saw EOS rise from an early morning low $3.7703 to a high $3.8023.

EOS left the major support and resistance levels untested early on.

EOS/USD 18/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.7854 pivot level to support a run at the first major resistance level at $3.9174.

Support from the broader market would be needed, however, for EOS to break back through to $3.90 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $3.9235 would likely cap any upside.

Failure to avoid a fall through the pivot level at $3.7854 would bring the first major support level at $3.6473 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.60 levels. The second major support level sits at $3.5153.

Looking at the Technical Indicators

First Major Support Level: $3.6473

Pivot Level: $3.7854

First Major Resistance Level: $3.9174

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.51% on Monday. Reversing a 0.24% gain on Sunday, Ethereum ended the day at $431.5.

A bearish start to the day saw Ethereum fall to a mid-morning intraday low $420.50 before finding support.

Steering clear of the first major support level at $418.47, EOS rallied to a late afternoon intraday high $447.50.

Ethereum broke through the first major resistance level at $442.96 before falling back to sub-$432 levels and into the red.

At the time of writing, Ethereum was up by 0.27% to $432.67. It was a mixed start to the day. Ethereum fell to an early morning low $430.86 before rising to a high $433.00.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 18/08/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $433.17 pivot to support a run at the first major resistance level at $445.83.

Support from the broader market would be needed, however, for Ethereum to break back through to $440 levels.

Barring an extended crypto rally, the first major resistance level should continue to cap any upside.

Failure to move through the $433.17 pivot would bring the first major support level at $418.83 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$410 levels. The second major support level sits at $406.17.

Looking at the Technical Indicators

First Major Support Level: $418.83

Pivot Level: $433.17

First Major Resistance Level: $445.83

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rallied by 3.51% on Monday. Following on from a 1.93% gain on Sunday, Ripple’s XRP ended the day at $0.3155.

A bearish start to the day saw Ripple’s XRP slip to an early morning intraday low $0.29734 before making a move.

Steering clear of the first major support level at $0.2962, Ripple’s XRP rallied to a late afternoon intraday high $0.32757.

Ripple’s XRP broke through the day’s major resistance levels and the 23.6% FIB of $0.3134. A late pullback saw Ripple’s XRP fall through the third major resistance level at $0.3261 to wrap up the day at sub-$0.32 levels.

At the time of writing, Ripple’s XRP was up by 0.78% to $0.31796. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.31507 before rising to a high $0.313817.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 18/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.3142 pivot to support a run at the first major resistance level at $0.3289.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.32757.

Barring an extended crypto rally, the first major resistance level should cap any upside.

Failure to avoid a fall through the $0.3142 pivot would bring the 23.6% FIB of $0.3134 and the first major support level at $0.3008 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.30 levels on the day.

The second major support level sits at $0.2860.

Looking at the Technical Indicators

First Major Support Level: $0.3008

Pivot Level: $0.3142

First Major Resistance Level: $0.3289

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – August 17th, 2020

Bitcoin, BTC to USD, rose by 0.50% on Sunday. Following on from a 0.70% gain on Saturday, Bitcoin ended the week up by 2.07% to $11,917.5.

It was a mixed start to the day. Bitcoin recovered from an early morning low $11,764 to strike a mid-morning intraday high $11,940.5.

Falling short of the first major resistance level at $12,004, Bitcoin slid to a mid-day intraday low $11,691.5.

Bitcoin fell through the first major support level at $11,702 before recovering to $11,900 levels.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day for the majors on Sunday.

Bitcoin Cash SV fell by 0.41% to buck the trend on the day.

It was a bullish day for the rest of the majors.

Tron’s TRX led the way, rallying by 12.26%.

EOS (+4.11%), Litecoin (+6.64%), Stellar’s Lumen (+7.60%), and Tezos (+4.12%) also found strong support.

Binance Coin (+1.82%), Bitcoin Cash ABC (+2.32%), Cardano’s ADA (+0.30%), Ethereum (+0.24%), Monero’s XMR (+1.59%), and Ripple’s XRP (+1.93%) trailed the front runners.

For the week, it was also mixed for the broader market.

Bitcoin Cash SV (-0.19%), Cardano’s ADA (-4.28%), and Monero’s XMR (-1.69%) saw red.

It was bullish for the rest of the majors, however.

EOS and Tron’s TRX surged by 28.09% and by 38.31% respectively to lead the way.

Ethereum (+11.09%), Litecoin (+12.18%), Stellar’s Lumen (+9.41%), and Tezos (+14.88%) also found strong support.

Binance Coin (+4.95%), Bitcoin Cash ABC (+2.11%), and Ripple’s XRP (+5.71%) trailed the front runners.

In the week, the crypto total market cap fell to a Tuesday low $328.26bn before rising to a Sunday high $367.82bn. At the time of writing, the total market cap stood at $362.51bn.

Bitcoin’s dominance rose to a Monday high 62.63% before sliding to a Sunday low 59.93%. At the time of writing, Bitcoin’s dominance stood at 60.29%.

This Morning

At the time of writing, Bitcoin was down by 0.51% to $11,856.5. A mixed start to the day saw Bitcoin rise to an early morning high $11,940.0 before falling to a low $11,803.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Cardano’s ADA bucked the trend early on, rising by 0.20%.

It was bearish for the rest of the majors, however.

At the time of writing, Tron’s TRX was down by 3.09% to lead the way down.

BTC/USD 17/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $11,850 to support a run at the first major resistance level at $12,008.

Support from the broader market would be needed, however, for Bitcoin to break out from the Sunday’s high $11,940.5.

Barring an extended crypto rally, the first major resistance level and resistance at $12,000 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,099.

Failure to avoid a fall back through the $11,850 pivot level would bring the first major support level at $11,759 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,600 support levels. The second major support level at $11,601 should limit any downside.