Bitcoin (BTC) remains on a strong footing after bears failed to capitalize on the rejection near the psychological mark at $50,000.

The recent price rise in Bitcoin has not enticed longer-term investors to part with their holdings, and Glassnode data shows that the Bitcoin supply held by long-term holders has hit a new all-time high of 12.69 miljoen BTC. This tops the previous record achieved in October 2020.

MicroStrategy’s recent Form 8-K filing with the United States Securities and Exchange Commission shows that the company bolstered its Bitcoin holdings by 3,907 BTC between July 1 en augustus. 23. The company bought at an average price of $45,294. This brings MicroStrategy’s total holdings to 108,992 BTC, with an average price of $26,769.

Dagelijkse marktprestaties van cryptocurrency. Bron: Coin360

Echter, not everyone is bullish in the short term. John Bollinger, the creator of the popular technical analysis Bollinger Bands indicator, sounded a note of caution to traders and suggested that they “take some profits or hedge a bit.” He said there was no confirmation of a fall yet, but if it happened, hodlers could use the lower levels to buy more.

After Aug. 25’s minor correction, could Bitcoin and altcoins resume their up-move? Laten we de grafieken van de top eens analyseren 10 cryptocurrencies om erachter te komen.

BTC / USDT

Bitcoin (BTC) broke above the psychological barrier at $50,000 op aug. 23, but the long wick on the day’s candlestick showed profit-booking at higher levels. The selling continued on Aug. 24 and on Aug. 25, which pulled the price down to the support line of the rising wedge pattern.

BTC / USDT dagelijkse grafiek. Bron: TradingView

The bulls are currently defending the support line. Als de rebound aanhoudt, the bulls will have another go at the overhead resistance zone of $50,000 naar $50,500. If it clears this hurdle, the BTC/USDT pair may rally to the resistance line of the wedge.

A breakout and close above the wedge will suggest strength and could attract further buying. That may clear the path for a rally to $60,000. The rising 20-day exponential moving average (EMA) ($46,014) en de relatieve sterkte-index (RSI) in the positive zone indicate an advantage to buyers.

This positive view will invalidate if bears sink the price below the 200-day simple moving average (Middelbare school) ($45,977). That may result in a decline to $42,451.67.

ETH / USDT

The bulls pushed Ether (ETH) boven de overheadweerstand bij $3,335 op aug. 23 en augustus. 24, maar ze konden de hogere niveaus niet ondersteunen. This suggests that bears are defending the level aggressively.

ETH / USDT dagelijkse grafiek. Bron: TradingView

The ETH/USDT pair dropped to the 20-day EMA ($3,080) op aug. 25, but the long tail on the candlestick shows buying at lower levels. If the price sustains above the 20-day EMA, the buyers will take another shot at pushing the pair above $3,335.

Als ze het kunnen redden, the pair may resume its uptrend, die zou kunnen bereiken $3,670 en toen $4,000. Integendeel, als de prijs weer omlaag gaat van $3,335, a few days of consolidation is possible. The first sign of weakness will be a break and a close below $3,000. If bears sustain the price below this level, het paar zou kunnen dalen tot de 200-daagse SMA ($2,352).

ADA / USDT

Cardano (ER BESTAAT) witnessed profit-booking near the psychological level at $3 op aug. 24, but a positive sign is that bulls are not giving up much ground. The long tail on Aug. 24’s and Aug 25’s candlestick suggests accumulation at lower levels.

ADA / USDT dagelijkse grafiek. Bron: TradingView

If the price rebounds off the current level or the breakout level at $2.47, it will indicate that the sentiment remains positive and bulls are buying on dips. De bulls zullen dan proberen de uptrend te hervatten door de prijs hierboven te pushen $3. Als het ze lukt om dat te doen, the ADA/USDT pair may rise to $3.50.

Aan de andere kant, if the price once again turns down from the overhead resistance, het paar kan tussen $3 en $2.47 voor een paar dagen. Een pauze en hieronder sluiten $2.47 zou de prijs kunnen verlagen tot de 20-daagse EMA ($2.20). The bears will have to sink the price below this support to gain the upper hand.

BNB / USDT

After the strong up-move on Aug. 23, Binance-munt (BNB) made an inside-day candlestick pattern on Aug. 24. This suggests indecision among the bulls and the bears. Momenteel, the buyers are attempting to resolve the uncertainty in their favor.

BNB / USDT dagelijkse grafiek. Bron: TradingView

If bulls push and sustain the price above $509.72, the BNB/USDT pair could start its northward journey toward $600. De opkomende 20-daagse EMA ($420) and the RSI in the overbought zone suggest that buyers have the upper hand.

In tegenstelling tot deze veronderstelling, als de prijs omlaag gaat van $509.72, the pair may drop to the breakout level at $433 and consolidate between these two levels for a few days. A break and close below the 20-day EMA could result in a decline to $385.47 and then to the 200-day SMA ($358).

XRP / USDT

The long wick on XRP’s Aug. 23 candlestick shows that bears are attempting to stall the recovery in the $1.30 naar $1.35 zone. This may have led to profit-booking from short-term traders, resulting in a drop to the 20-day EMA ($1.08).

XRP / USDT dagelijkse grafiek. Bron: TradingView

The bulls are likely to aggressively defend the breakout level at $1.07. Als de prijs terugkaatst van deze ondersteuning, the XRP/USDT pair could rise to the downtrend line and above it to $1.35. A breakout and close above this resistance will signal the resumption of the uptrend.

In tegenstelling tot deze veronderstelling, als de beren de onderstaande prijs zinken $1.07, het paar zou kunnen dalen tot de 200-daagse SMA ($0.86). Such a move will suggest that the bullish momentum has weakened and the pair may trade in a range for a few days.

HOND / USDT

Dogecoin (DOGE) turned down from the downtrend line on Aug. 24 and dropped to the 20-day EMA ($0.28). Although bulls have defended the support, the failure to achieve a strong rebound suggests a lack of aggressive buying.

DOGE / USDT dagelijkse grafiek. Bron: TradingView

If bears sink the price below the 20-day EMA, the DOGE/USDT pair could drop to the next support at $0.21. Een dergelijke stap suggereert dat de recente uitbraak hierboven $0.29 was a bull trap. The pair could then remain range-bound between $0.21 en $0.29 voor een paar dagen.

The flattening 20-day EMA and the RSI just above the midpoint also suggest a consolidation in the short term. Omgekeerd, if the price turns up from the current level and rises above the downtrend line, het paar kan zich verzamelen $0.35. A breakout and close above this resistance could open the gates for an up-move to $0.45.

DOT / USDT

The failure of the bulls to push Polkadot (PUNT) boven de overheadweerstand bij $28.60 for the past few days attracted profit-booking on Aug. 24. The price dropped close to the 20-day EMA ($23.84), but the buyers are attempting a rebound.

DOT / USDT dagelijkse grafiek. Bron: TradingView

The bulls will now make one more attempt to thrust and sustain the price above the overhead resistance. If they manage to do so, the DOT/USDT pair will complete a V-bottom, die een patroondoel heeft op $46.83.

Integendeel, if the bounce fizzles out and bears sink the price below the 20-day EMA, het suggereert dat het bullish momentum is verzwakt. Het paar zou dan kunnen dalen tot $18 and remain range-bound for a few more days.

SOL / USDT

Solana (SOL) is currently correcting the sharp up-move of the past few days. This suggests that traders are booking profits. The critical support to watch on the downside is the breakout level at $58.38.

SOL / USDT dagelijkse grafiek. Bron: TradingView

De oplopende 20-daagse EMA ($59) and the RSI in the overbought territory indicate that bulls have the upper hand. Als de prijs terugkaatst $58.38, it will suggest that traders continue to accumulate on dips. De stieren zullen dan nog een poging doen om de uptrend te hervatten.

Een ontsnapping en dichtbij hierboven $82 may start the next leg of the up-move. Aan de andere kant, als de prijs omlaag gaat van $82, the SOL/USDT pair could remain range-bound for a few days. Een pauze en hieronder sluiten $58.38 will suggest that bears are making a strong comeback.

Verwant: Bitcoin erases BTC price dip but $48.2K is now key to avoid bull trap

UNI / USDT

The long wick on the Uniswap (UNI) candlestick showed that bears continue to defend the overhead resistance at $30 op aug. 23. That may have attracted profit-booking from short-term traders on Aug. 24, which pulled the price below the moving averages.

UNI / USDT dagelijkse grafiek. Bron: TradingView

If bulls fail to sustain the price above the moving averages, the UNI/USDT pair could drop to $23.45. A strong bounce off this level will suggest that traders are buying on dips. Dat zou het paar bereik-gebonden kunnen houden tussen $23.45 en $30 voor nog een paar dagen.

The flat moving averages and the RSI near the midpoint suggest a few days of consolidation. Een uitbraak en sluit boven de $30 naar $31.25 overhead resistance zone will signal the start of a new uptrend.

BCH / USDT

Bitcoin Cash (BCH) turned down from the $700 naar $714.76 overhead resistance and slipped below the 200-day SMA ($657) op aug. 24. De stieren proberen momenteel de 20-daagse EMA te verdedigen ($632), wat een positief teken is.

BCH / USDT dagelijkse grafiek. Bron: TradingView

If the price rebounds off the current level and rises above the 200-day SMA, the BCH/USDT pair could rise to the overhead resistance zone. A breakout and close above this zone could open the doors for a rally to $806.87.

Omgekeerd, if bears sink the price below the 20-day EMA and the $619 ondersteuning, the pair could witness a deeper correction to $588 en toen $550. Such a move will point to a few days of consolidation.

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