Price analysis 8/25: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH

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 rising in Bitcoin has non enticed longer-term investors to part with their holdings, and Glassnode information shows that the Bitcoin supply held past long-term holders has hit a new all-time loftier of 12.69 million BTC. This tops the previous record achieved in October 2020.

MicroStrategy's contempo Course 8-Chiliad filing with the The states Securities and Exchange Commission shows that the visitor bolstered its Bitcoin holdings past 3,907 BTC betwixt July i and Aug. 23. The visitor bought at an average price of $45,294. This brings MicroStrategy's total holdings to 108,992 BTC, with an boilerplate cost of $26,769.

*Daily cryptocurrency marketplace performance. Source:* *Coin360*

However, not everyone is bullish in the short term. John Bollinger, the creator of the popular technical analysis Bollinger Bands indicator, sounded a annotation of circumspection to traders and suggested that they "take some profits or hedge a bit." He said in that location was no confirmation of a fall withal, simply if it happened, hodlers could utilise the lower levels to purchase more than.

After Aug. 25'southward minor correction, could Bitcoin and altcoins resume their upwards-move? Allow'southward clarify the charts of the meridian 10 cryptocurrencies to notice out.

BTC/USDT

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

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

A breakout and close higher up the wedge will propose strength and could attract further buying. That may clear the path for a rally to $60,000. The rising xx-solar day exponential moving average (EMA) ($46,014) and the relative force index (RSI) in the positive zone betoken an reward to buyers.

This positive view will invalidate if bears sink the toll beneath the 200-twenty-four hours simple moving average (SMA) ($45,977). That may result in a decline to $42,451.67.

ETH/USDT

The bulls pushed Ether (ETH) higher up the overhead resistance at $3,335 on Aug. 23 and Aug. 24, but they could not sustain the higher levels. This suggests that bears are defending the level aggressively.

The ETH/USDT pair dropped to the xx-day EMA ($iii,080) on Aug. 25, but the long tail on the candlestick shows ownership at lower levels. If the cost sustains above the 20-day EMA, the buyers will have some other shot at pushing the pair above $3,335.

If they can pull it off, the pair may resume its uptrend, which could attain $3,670 and and so $four,000. On the contrary, if the toll over again turns down from $three,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 cost beneath this level, the pair could driblet to the 200-mean solar day SMA ($2,352).

ADA/USDT

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

If the cost 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. The bulls will so try to resume the uptrend by pushing the price in a higher place $3. If they manage to practice that, the ADA/USDT pair may rise to $3.l.

On the other paw, if the cost again turns downward from the overhead resistance, the pair may consolidate between $3 and $2.47 for a few days. A intermission and close below $2.47 could pull the price down to the 20-twenty-four hour period EMA ($2.twenty). The bears will have to sink the cost below this support to gain the upper hand.

BNB/USDT

Afterwards the potent up-move on Aug. 23, Binance Money (BNB) made an within-solar day candlestick blueprint on Aug. 24. This suggests indecision amidst the bulls and the bears. Currently, the buyers are attempting to resolve the uncertainty in their favor.

If bulls push and sustain the toll to a higher place $509.72, the BNB/USDT pair could offset its northward journey toward $600. The ascent 20-twenty-four hour period EMA ($420) and the RSI in the overbought zone suggest that buyers have the upper paw.

Contrary to this assumption, if the price turns down from $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-mean solar day EMA could result in a decline to $385.47 and so 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 to $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).

The bulls are likely to aggressively defend the breakout level at $1.07. If the price rebounds off this support, the XRP/USDT pair could rise to the downtrend line and above information technology to $1.35. A breakout and close above this resistance volition indicate the resumption of the uptrend.

Opposite to this assumption, if the bears sink the price below $i.07, the pair could drop to the 200-solar day 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.

DOGE/USDT

Dogecoin (DOGE) turned downwardly from the downtrend line on Aug. 24 and dropped to the 20-mean solar day EMA ($0.28). Although bulls have defended the support, the failure to accomplish a strong rebound suggests a lack of ambitious ownership.

If bears sink the cost beneath the 20-day EMA, the DOGE/USDT pair could drib to the side by side back up at $0.21. Such a movement will propose that the recent breakout higher up $0.29 was a bull trap. The pair could then remain range-bound between $0.21 and $0.29 for a few days.

The flattening 20-day EMA and the RSI just above the midpoint too advise a consolidation in the brusque term. Conversely, if the price turns up from the current level and rises above the downtrend line, the pair may rally to $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 button Polkadot (DOT) to a higher place the overhead resistance at $28.60 for the past few days attracted profit-booking on Aug. 24. The price dropped close to the 20-twenty-four hours EMA ($23.84), merely the buyers are attempting a rebound.

The bulls volition now make one more attempt to thrust and sustain the price higher up the overhead resistance. If they manage to do so, the DOT/USDT pair volition complete a V-bottom, which has a pattern target at $46.83.

On the reverse, if the bounce fizzles out and bears sink the price beneath the 20-day EMA, it will suggest that the bullish momentum has weakened. The pair could then drop to $18 and remain range-bound for a few more than days.

SOL/USDT

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

The upsloping 20-day EMA ($59) and the RSI in the overbought territory signal that bulls have the upper mitt. If the price rebounds off $58.38, it will advise that traders proceed to accumulate on dips. The bulls volition and then brand one more attempt to resume the uptrend.

A breakout and close above $82 may first the next leg of the upward-movement. On the other hand, if the price turns down from $82, the SOL/USDT pair could remain range-bound for a few days. A break and close below $58.38 will propose that bears are making a potent comeback.

Related: Bitcoin erases BTC price dip but $48.2K is now cardinal to avoid balderdash trap

UNI/USDT

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

If bulls neglect to sustain the cost above the moving averages, the UNI/USDT pair could drib to $23.45. A strong bounciness off this level will suggest that traders are buying on dips. That could keep the pair range-jump between $23.45 and $thirty for a few more days.

The flat moving averages and the RSI near the midpoint suggest a few days of consolidation. A breakout and close in a higher place the $thirty to $31.25 overhead resistance zone will bespeak the start of a new uptrend.

BCH/USDT

Bitcoin Cash (BCH) turned downwards from the $700 to $714.76 overhead resistance and slipped beneath the 200-day SMA ($657) on Aug. 24. The bulls are currently attempting to defend the 20-day EMA ($632), which is a positive sign.

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

Conversely, if bears sink the cost below the 20-twenty-four hour period EMA and the $619 support, the pair could witness a deeper correction to $588 and then $550. Such a move will indicate to a few days of consolidation.

The views and opinions expressed here are solely those of the writer and exercise not necessarily reverberate the views of Cointelegraph. Every investment and trading movement involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC .