Cryptocurrency Daily price Analysis and Prediction: Bitcoin, Ethereum, Ripple, Bitcoin Cash – August 13 Development
For a couple of days now, Bitcoin is showing why it is the dominating coin in the market while walking in front and climbing “all-time highs” daily. With its not stopping increase it has hoisted up the whole digital currency market together with it – having the global market capitalization over $132 billion.
Bitcoin Against the US Dollar
For two and a half months now, bitcoin price was bouncing between $2,999.99 and $1,913.19. With breaking that barrier, the price would not stop until reaching the $4,086.79 mark as it actually did. There could be a safe correction for a couple of days before the upward move will continue.
For that particular reason, some quick profit and short term traders might want to use this opportunity to gain some profit at where the price is currently. If it happens that this trend continues and Bitcoin will not stop at $4,086.79 it might reach above $4,600.00
Ethereum Against the US Dollar
For the present moment, the $323.69 mark is showing a resistance barrier for Ether which level is just over the 62 percentage point Fibonacci retracement level of the crash that happened from $420 to $130.26. There is a good chance that kind of downflow is not to be expected for the moment now.
For now with this momentum, the descending wave could continue to $270, where Ether has two supporting indicators – The ongoing trend and the 20 day exponential moving average (EMA). There could be a possibility of reaching just a little more above $380 but in case the support break the crash could continue to $180.
Ripple Against the US Dollar
If you keep an eye on the daily movement of the XRP price, you will be forming a big downward trend triangle that could be done with a drop under $0.135, but for the moment a support indicator is at $0.154.
For now, the best thing to do when it comes to trading with Ripple is nothing and keep around other digital assets until at least the descending trend at $0.2000 is broken out and a new trend is formed by the XRP price.
Bitcoin Cash Against the US Dollar
After the initial few days of volatility, BCH/USD is currently settling down. As the currency has a short history, we shall use the 240-minute time frame on it.
A new trend will come upon the coin after it breaks the descending flow at around the $330 mark. So, for now the most recommended move is waiting for lower level to start fresh positions or the breakout over the flow line.