Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRON: Price Analysis, August 08

BTC/USD Bitcoin has broken down of the 50-day SMA and is on its way to the critical support level of $6,000.

If the support breaks, the digital currency will weaken and can quickly fall to the next support at $5,450 and below that to $5,000.

Ethereum broke below $404.99 on August 7 and plunged close to the next support at $358. If the bears force a break below the support zone of $350 - $358, the ETH/USD pair can decline to the next support at $280. If the support holds, the bulls will face a stiff resistance at $404.99 and the 20-day EMA. We shall wait for a new buy setup to form before suggesting a trade on it.

Below $0.32, the next major support on the XRP/USD pair is way below at $0.24001, a level last seen on December 12, 2017.

The previous support of $0.4242 will now act as a resistance on any pullback.

BCH/USD After breaking below the $619.751 line, Bitcoin Cash is on target to test the next support at $537.8221.

LTC/USD Litecoin closed below the support of $74.074 on August 6 and continued with a sharp drop on the next day.

ADA/USD The bulls are attempting to provide some support close to the June 29 low of $0.111843, but if Cardano fails to scale above $0.13 quickly, a steeper fall is likely.

XLM/USD The 50-day SMA has failed to provide support and Stellar has resumed its correction to the next support at $0.184.

TRX/USD Tron has broken below the support of $0.0281344 and is now heading towards the next critical support of $0.022806.