BTC, ETH, and XRP Price Analysis for August 19
The bearish mood has been replaced by bullish sentiment as most of the coins are again in the green zone.
The price of Bitcoin (BTC) has remained the same since yesterday. The price change was only +0.05 percent.
On the daily chart, Bitcoin (BTC) has once again bounced off the support at $44,253. At the moment, the market remains neutral since not a single control has gained control.
If sellers break the support, the drop may continue to $42,300. However, if buyers come back to the area around $48,000, the breakout might lead the chief coin to $50,000 and above.
Bitcoin is trading at $45,277 at press time.
The Ethereum (ETH) price yesterday tried to stay above the psychological level of $3,000. During the second half of the day, buyers achieved a dynamic recovery in the pair, but it was not supported by large volumes. Hence, the recovery stopped by the end of the day near the four-hour EMA55. This moving average reversed the pair, and the price returned to the support of $3,000.
Currently, trading volumes are below the average level, so a slight move from buyers can lead to an increase in the ETH price to the EMA55 area, and if sellers seize the opportunity in the market, they can push through the psychological support of $3,000 and roll back the pair to the area of $2,900.
Ethereum is trading at $3,042 at press time.
The XRP price managed to hold above the four-hour EMA55 yesterday. Buyers actively tried to restore the price but failed to overcome the resistance of $1.20. The weak attempt at recovery was repeated tonight, but without success.
In the morning, trading volumes have decreased, and the price of XRP may settle in a short-term consolidation. The lower border of the sideways range can be the four-hour moving average EMA55. If the bears are able to push through it, then the price might roll back to the psychological support of $1.
XRP is trading at $1.13 at press time.Source