The following are key points.
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Bitcoin may find support in lower price levels, but it could be vulnerable to strong sales between $120,000 and $123,218.
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More than $1 billion in net flows into Ether ETFs on Monday suggests a strong institutional demand.
Bitcoin’s (BTC( ) A strong rejection at the high point of 123,218 indicates that bears will not give up without a struggle. BTC failing to reach a new high led several altcoins to pull back, although some have rebounded sharply.
Select analysts are cautious after Monday’s BTC rejection. ZAYK Charts stated in a blog post on X, that Wyckoff suggests BTC has entered a phase of distribution. A confirmation could be forthcoming. sink the price toward $95,000.
Ether is a more expensive alternative to EtherETHThe ( has been strong. Farside Investors data shows Spot Ethereum exchange-traded fund (ETF) has recorded its highest level since the beginning of 2017. highest-ever net inflows of $1.01 billion On Monday,
Can BTC make a surprise move higher? Can ETH help altcoins to rise? Analyze the top five cryptocurrencies on charts to determine if there is any strength in the future.
Bitcoin price prediction
On Monday, sellers successfully stopped buyers from attempting to push BTC up to an all-time record high of $123,218.
The bulls are in a positive momentum, as the 20-day SMA ($116,779) is flattish. Bulls may try to take the BTC/USDT price above $123,218 again if it stays above 20-day SMA. They could push the Bitcoin value to $135,000.
A drop below the SMA of 20 days signals short-term traders taking profits. The pair could fall to the SMA of the last 50 days (114,366). That would indicate that a potential range is likely in the short-term. Sellers need to lower the price under $110,530 before they can seize control.
On the chart for 4 hours, the pair bounced from the 20-SMA. Buyers are in a better position because the moving averages have an upward slope and the RSI is positive. The pair may soar to $127.735 or even $135,000.
It is likely that sellers have different plans. The sellers will likely have other plans. Bitcoin could be priced between $111,920 and $123,218 for a while if they pull the price back below that line.
Prediction of Ether prices
Ether began the next leg in its uptrend Tuesday, after buyers drove the price over $4 366.
The RSI is in an overbought range and suggests that there will be little resistance to moving upwards. By pushing the ETH/USDT to $4,868 buyers are trying to consolidate their position.
Watch out for the $4,094 support level on the downside. Profit-taking at higher levels is indicated by a break or close under $4,094. Ether could plunge below the 20-day SMA (3,833).
This pullback has found support on the four-hour chart at the 20 SMA, which indicates a positive outlook. The pair may rally up to $4500, and then on to $4868, when the bears will likely pose a significant challenge.
If the pair breaks and closes below the 20 SMA, it could move to $4.094. Solid bounces off $4.094 suggest bulls trying to convert the level as support. It increases the chances of the trend to continue. If the $4,094 level cracks, a deeper drop could begin.
BNB price prediction
BNBBNBThe price of, has traded in a range that is tight between $792-$827 in the last 3 days. It indicates indecision by the bulls.
BNB/USDT may surge up to $861, if it breaks through $827. The sellers are likely to defend $861 fiercely, but the BNB rate could rise to $900 if buyers push through.
Bears must pull price down below 20-day simple moving average ($787) in order to signal the beginning of an even deeper correction, which will lead to $761 then to $732. It is likely that buyers will defend $732 with their lives because any break below the level could signal a trend change.
On the 4-hour graph, both moving averages have a sloping trend upwards. However, the RSI shows signs of forming a negative divergence near-term. The sellers will win if they lower the BNB below the 50 SMA.
In contrast, the upward trend will resume if the pair closes above $827. The pair may climb until the resistance at $861 where bears will likely step in.
Related: Is $30 XRP price a real possibility for this bull cycle?
Chainlink price prediction
ChainlinkLINKThe bulls have been aggressively purchasing after the breakout above $18 on Thursday.
The bulls broke through the resistance of $22.70 on Tuesday. The LINK/USDT currency pair may surge up to $27 where bears should mount a fierce defense. The rally may reach $30 if the buyers surpass the barrier of $27.
The optimistic forecast will not be realized in the short-term if prices fall sharply to below $20.83. This could bring the Chainlink to $20, and even lower to $18.
On the 4-hour chart the pullback bounced of the 20 SMA, signaling that buyers should be buying at every small dip. Both moving averages are sloping and the RSI in overbought territory, indicating the buyers still have control.
On the downside, the first level of support is the breakout at $22.70 and then $19. If the price closes below the $21 level, it is likely that bulls will be on the move. Next stop is the 50-SMA.
Uniswap price prediction
UniswapUNIThe price bounced back off of the 50-day SMA ( $9.05) on August 3, showing solid purchasing at lower levels.
Although the up-move is now facing selling of $12, it is still a sign that the bulls are not giving much ground to bears. This suggests that the bulls expect the upward trend to continue. The UNI/USDT could reach $15 if buyers push the price up above $12.
First support to the downside will be the SMA 20 days ($10.19). The Uniswap could fall to the SMA 50 days if this level breaks. If the bears pull the pair down below the 50 day SMA, a short-term change in trend will be indicated.
A positive sign for bulls is the fact that they are defending their 20-SMA chart on 4-hours. The buyers will try again to push the price over $12. The pair may rise to $14, then $15 if they are successful.
The sellers will likely have different plans. They’ll try to push Uniswap’s price under the 50-SMA. The pair may fall to $10, and then to $9.50 if they succeed. It could be a sign of an extended range between $8.50-$12.
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Source: cointelegraph.com
