BTC, BNB, and XRP Price Analysis for August 24

BTC, BNB, and XRP Price Analysis for August 24

At the moment, neither bulls nor bears are dominating as some coins are still in the green zone, while others have come back to red.

BTC/USD

Yesterday, in the first half of the day after the morning high, the rise in the Bitcoin (BTC) price continued a little more to a new summer record near the $50,560 mark. At the same time, sales volumes began to significantly exceed the average level, and the price started to decline.

Before the end of the day, the pair rolled back to the level of $49,000. This morning, the price returned to the area of the two-hour EMA55, setting a local minimum at $48,765.

If bears push through the level of average prices, then the nearest support—which might limit the decline—may become the $47,745 level.

Bitcoin is trading at $48,491 at press time.

BNB/USD

Binance Coin (BNB) has joined the list of losers, going down by 2.68% over the past 24 hours.

Binance Coin (BNB) could not fix above the vital $500 mark, having formed a false breakout. At the moment, one needs to pay close attention to the level of $483.

If bears succeed and fix below it, there is a high possibility of seeing the ongoing decline to another support at $458.

BNB is trading at $482.87 at press time.

XRP/USD

Yesterday, buyers made a desperate attempt to break through the resistance of $1.30, but the XRP price could not hold above this level and, in the afternoon, the pair returned to the support of $1.20.

If the market remains positive, then the price of XRP might follow the cryptocurrency flagship to a new August high around the $1.40 mark.

XRP is trading at $1.1987 at press time.

Source