Price Analysis 8/5: BTC, ETH, XRP, BCH, BSV, LTC, ADA, BNB, LINK, CRO

Published on by Cointele | Published on

BTC/USDAfter forming an inside day candlestick pattern on Aug. 3 and 4, Bitcoin is attempting to resume its up move today, which suggests that the bulls have overpowered the bears.

If the bulls can propel the biggest altcoin above the $400-$415.634 resistance zone, a rally to $480 is possible.

XRP/USDXRP has formed successive inside day candlestick patterns on Aug. 3 and 4, suggesting indecision among the bulls and the bears.

The bulls have kept the altcoin above the $0.284584 support since Aug. 2, indicating buying on dips.

If the bulls can push the price above $0.32, it will increase the possibility of a retest of the overhead resistance at $0.346727.

BSV/USDBitcoin SV has been oscillating around the $227 level for the past two days, which suggests that both the bulls and the bears are trying to establish their supremacy.

LTC/USDLitecoin has been trading in small ranges since the large outside day candlestick pattern on Aug. 2, which suggests a lack of clarity among the bulls and the bears about the next likely direction.

If the bulls push the price above $60, a retest of the $64-$65.1573 resistance zone is possible.

If the bulls can propel the ADA/USD pair above the $0.15-$0.1543051 resistance zone, it will indicate that the bulls have absorbed the selling and have reasserted their dominance.

The bulls have pushed the price above the $22.93 resistance, which indicates demand at higher levels.