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BTC, ETH, XRP, ADA, and BNB Price Analysis for August 21

21 Aug, 20223 min readAnalytics
BTC, ETH, XRP, ADA, and BNB Price Analysis for August 21

Bulls are trying to restore the lost initiative. However, some coins keep trading in the red zone.

BTC/USD

The rate of Bitcoin (BTC) has gone down by 14% after a few weeks of growth.

Despite the sharp decline, Bitcoin (BTC) keeps trading above the important support level at $20,700. If bulls can hold this level until the end of the day, the bounce back may lead to a test of the $22,000 zone shortly.

Bitcoin is trading at $21,466 at press time.

ETH/USD

Ethereum (ETH) has lost even more as the price has dropped by almost 20% over the last week.

Ethereum (ETH) has also bounced off its support level at $1,560, which means that buyers are not ready to give up. Thus, the selling volume is low, confirming bears' weakness. In this case, a correction to the $1,650-$1,700 zone can happen within the next days.

Ethereum is trading at $1,599 at press time.

XRP/USD

XRP is not an exception to the rule, falling by 10.52%.

On the daily chart, XRP is looking worse than Bitcoin (BTC) and Ethereum (ETH) as the rate has gone below the important $0.35 mark. At the moment, the price is located in the middle of the wide range, which means that neither side is dominating. However, a further decline to $0.32 may be a prerequisite for an ongoing fall to the support level at around $0.30.

XRP is trading at $0.3429 at press time.

ADA/USD

Cardano (ADA) has lost the most value on the list today, as the price has dropped by 21% over the past 7 days.

Cardano (ADA) is returning to the support level at $0.3974 on the daily time frame. If the candle closes below $0.46, there is a high chance to see a test of the $0.40 area by the end of the current month.

ADA is trading at $0.4601 at press time.

BNB/USD

Binance Coin (BNB) is the least falling coin, as the price has dropped by 9.33%.

Binance Coin (BNB) is trying to return above the vital $300 mark. This level plays a key role in terms of a further mid-term bull run. If buyers succeed, the rise may continue to the $320-$330 range soon.

BNB is trading at $298 at press time.

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