Home Coins Cardano (ADA) EOS, DigiByte, Ethereum Price Analysis: 22 August

EOS, DigiByte, Ethereum Price Analysis: 22 August


At the time of writing, Bitcoin’s dominance stood at 59.5%, with the same having fallen significantly over the past few months despite the fact that the world’s largest cryptocurrency climbed to new heights in 2020. This has been the case because many of the market’s altcoins have surged on the charts too.

However, when Bitcoin fell below $12,000 to trade at around $11,500, these altcoins took a big hit. Ethereum was one of the alts, dropping from a high of $433 to somewhere near $385. However, since the uptrend formed after Black Thursday in March remained in force, this could prove to be no more than a dip.

Ethereum [ETH]

EOS, DigiByte, Ethereum Price Analysis: 22 August

Source: ETH/USD on TradingView

Trading at a price of $384.26 at press time, Ethereum continued to flounder near important support levels. After registering a previous weekly close of $433, ETH saw sell pressure dominate the charts. First, the support at $407 was broken, following which, $391 was held briefly before giving way as well.

As highlighted by Volume Profile, $385-$400 is a region that has been important to ETH in the long-term. If the price breaks below $385, there is a good chance ETH can slide to $371, its next support level.

Further, the RSI was failing to break out of the neutral 50 line, instead touching it as a resistance. This reinforced the idea of bearish momentum taking over.

If ETH fails to hold on to $371, there is the unlikely probability that it might drop to $320.

Recent reports have suggested that investors are pushing capital into the Ethereum system to leverage yield from DeFi, rather than stimulate organic growth. This will not bode well for the market’s second-largest cryptocurrency in the coming weeks.

EOS

EOS, DigiByte, Ethereum Price Analysis: 22 August

Source: EOS/USDT on TradingView

EOS reached a high of $3.95, before beginning a retracement. The 12th-ranked cryptocurrency highlighted weakness in the market, as did many other cryptos in the top-20.

The Parabolic SAR indicated a sell signal, one reinforced by the 20 SMA (white) crossing below 50 SMA (yellow), a sign of short-term bearish outlook. The CMF showed capital outflows as well, but with a value of -0.07 as it was on the threshold of significance.

The level of $3.05 could be a place where EOS  finds support. If it does, buyers could step in and drive prices back up to the resistance level at $3.35.

In recent news, Metal announced its acquisition of Bloks.io, the leading block explorer and development team behind EOSIO.

DigiByte [DGB]

EOS, DigiByte, Ethereum Price Analysis: 22 August

Source: DGB/USDT on TradingView

DigiByte registered a high of $0.037, before being shorn off by nearly 20%. DGB dipped to as low as $0.0286 to find support near the 200 EMA (purple).

At press time, DGB was trading at $0.0299, well below the 100 EMA (pink). If the 200 EMA is also breached, the next level of support was at $0.0262.

If DGB reclaims its 100 EMA, it can target resistance at $0.033. This move will be confirmed if it occurs over high volume. A rising price accompanied by decreasing volume in the next couple days will signal another drop in price.

Digibyte held the 41st position, at the time of writing, with a market cap of $405.9 million.



Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,550FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.17
GBP
1.29
CHF
1.09
NOK
0.11
JPY
0.01
CAD
0.75
AUD
0.72

Most Popular

Organic growth? Bitcoin SV activity up 761% ahead of BSV conference

Active addresses and transaction counts on the Bitcoin SV network saw unbelievable growth in the two days leading up to the CoinGeek Live conference...

Twitter’s Jack Dorsey takes aim at Coinbase’s apolitical stance

Twitter CEO Jack Dorsey has taken major U.S. crypto exchange Coinbase to task over its open letter to employees published on Sep 28. The letter,...

Dash adjusts block reward percentage to improve the economics of its network

Dash Core Group, the entity responsible for developing the privacy-focused coin DASH, publicized fresh changes to the asset's proof-of-stake network on Sept. 30. "Dash...

Crypto Bets on the US Election Show Joe Biden Winning the Presidency by 60%

During the first half of the year, betting portals that allow people to wager cryptocurrencies on the upcoming U.S. election had shown...
bitcoin
Bitcoin (BTC) $ 10,819.50
ethereum
Ethereum (ETH) $ 363.27
ripple
XRP (XRP) $ 0.242249
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 228.65
bitcoin-cash-sv
Bitcoin SV (BSV) $ 175.17
litecoin
Litecoin (LTC) $ 46.52
eos
EOS (EOS) $ 2.59
binancecoin
Binance Coin (BNB) $ 29.05
okb
OKB (OKB) $ 6.28
tezos
Tezos (XTZ) $ 2.23
leo-token
LEO Token (LEO) $ 1.27
cardano
Cardano (ADA) $ 0.102904
monero
Monero (XMR) $ 111.34
stellar
Stellar (XLM) $ 0.074947
chainlink
Chainlink (LINK) $ 10.04
huobi-token
Huobi Token (HT) $ 4.62
tron
TRON (TRX) $ 0.026286
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 70.88
neo
NEO (NEO) $ 19.61
iota
IOTA (MIOTA) $ 0.285762
nem
NEM (XEM) $ 0.116883
zcash
Zcash (ZEC) $ 65.63
maker
Maker (MKR) $ 570.13
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 5.41
vechain
VeChain (VET) $ 0.013541
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 3.61
kucoin-shares
KuCoin Shares (KCS) $ 0.870376
waves
Waves (WAVES) $ 2.64