Bitcoin, Ethereum & Ripple - American Wrap For August 19, 2020

Bitcoin Technical Analysis: BTC/USD selling pressure continues mounting hinting at a possible trend reversal

Bitcoin is currently trading at $11,733 after an extended pullback from the rejection at $12,481. Unfortunately, Bitcoin couldn’t hold its price above the crucial $12,000 resistance and then support level.

Ethereum Technical Analysis: ETH/USD almost slips below $400 after an extended consolidation period

The daily chart is still in an uptrend as anything above $363 is still considered a higher low, however, Ethereum’s momentum seems to be shifting in favor of the bears in the short-term. 

Ripple Technical Analysis: XRP/USD fails to hold $0.30 again and has created a double top

The last high of XRP’s bull rally was established at $0.325. XRP then had a healthy consolidation period dipping below $0.27 but defending the daily 12-EMA. On August 17, XRP peaked above the first high and touched $0.327 but got rejected heavily dropping below $0.30 in the next two days.