Bitcoin, Ethereum & Ripple - American Wrap 8/25

Bitcoin Price Analysis: BTC/USD bears regain control, price moves towards $11,400

Bitcoin (BTC) dropped like a stone after a failed attempt to clear the local resistance created by 1-hour SMA100 at $11,650. At the time of writing, BTC/USD is changing hands at $11,460 and the downside momentum is gaining traction. The coin has lost over 2.5% since the start of the day, more sell-off ahead, unless the price manages to recover above $11,500 (upper line of 30-min Bollinger Band) in the nearest future.

Ethereum Price Analysis: ETH/USD resumes the recovery, still capped by $400.00

Ethereum's ETH stopped the sell-off on approach to $387.00. At the time of writing, ETH/USD is changing hands at $391.00, down over 4% since the start of the day. Notably, the second-largest digital asset has been moving in sync with the market, mostly influenced by Bitcoin's bearish move that took the first cryptocurrency below $11,500.

Ripple Price Analysis: XRP/USD moves to the lower boundary of the intraday Bollinger Band

Ripple's XRP tested the intraday low of $0.2800 amid major sell-off on the cryptocurrency market. At the time of writing, XRP/USD is changing hands at $0.2811, down 2.6% since the start of the day. On the intraday chart, the local resistance is created by 1-hour SMA100 on approach to $0.2840.  Once it is out of the way, the upside is likely to gain traction with the next focus on a combination of 1-hour SMA50 and the middle line of the 1-hour Bollinger Band at $0.2860. This barrier stopped XRP's recovery earlier during the day. 

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsForexMarketsBTCETFFXStreetXRP
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!