Kryptodata

  • Market Cap: $2,719,323,230,958.77
  • 24h Vol: $90,250,140,301.38
  • BTC Dominance: 50.75%
August 23 Price Analysis: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Polkadot (DOT), Polygon (MATIC), Shiba Inu (SHIB)

August 23 Price Analysis: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Polkadot (DOT), Polygon (MATIC), Shiba Inu (SHIB)

Bitcoin and altcoins experienced a rally, but it is uncertain if this is just an oversold bounce.

Institutional traders are taking a cautious approach, with an outflow of $55 million from digital asset investment products.

Bitcoin’s key resistance levels are at $26,833 and the 20-day EMA at $27,777.

Ether needs to break above the overhead resistance of $1,700 to reach the 20-day EMA at $1,756.

BNB bounced off the support at $200, but faces resistance at the 20-day EMA at $227.

XRP may consolidate between $0.50 and $0.56, with the 20-day EMA at $0.58 acting as resistance.

Cardano is stuck in a range between $0.24 and $0.28, with a potential downtrend if it falls below $0.24.

Solana needs to break above the 20-day EMA at $22.64 to gain momentum and rally to $26.

Dogecoin rebounded off the support at $0.06, but needs to break above the moving averages for a rally.

Polkadot’s key support is at $4.22, with resistance at the 20-day EMA at $4.73.

Polygon needs to stay above the crucial support at $0.51 to avoid a downtrend.

Shiba Inu experienced a solid bounce, but needs to rally above the moving averages for further momentum.

Summary:

– Bitcoin and altcoins saw a rally, but it is uncertain if this is a sustainable trend.

– Institutional traders are being cautious, with outflows from digital asset investment products.

– Key resistance levels for Bitcoin include $26,833 and the 20-day EMA at $27,777.

– Ether needs to break above $1,700 to reach the 20-day EMA at $1,756.

– BNB bounced off support at $200, but faces resistance at the 20-day EMA at $227.

– XRP may consolidate between $0.50 and $0.56, with resistance at the 20-day EMA at $0.58.

– Cardano is stuck in a range between $0.24 and $0.28, with a potential downtrend if it falls below $0.24.

– Solana needs to break above the 20-day EMA at $22.64 for momentum to rally to $26.

– Dogecoin rebounded off support at $0.06, but needs to break above moving averages for a rally.

– Polkadot’s key support is at $4.22, with resistance at the 20-day EMA at $4.73.

– Polygon needs to stay above the crucial support at $0.51 to avoid a downtrend.

– Shiba Inu experienced a solid bounce, but needs to rally above moving averages for further momentum.

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