BTC, ETH, XRP, XVG, NEAR, TRX, YFI

Bitcoin

(BTC) has been rejected by the resistance area at $47,800 – $48,800. Sponsored Sponsored

Ethereum

(ETH) may be in the process of breaking down from a parabolic ascending support line.

XRP

(XRP) has reached the resistance area at $1.05. Sponsored

Verge

(XVG) successfully completed a double bottom formation.

Near Protocol (NEAR) is trading inside the range between $2.50 and $3.63.

TRON

(TRX) and Yearn.Finance (YFI) have broken out of falling resistance lines.

BTC

BTC has been rising since July 20 and formed a higher peak on August 5. It managed to peak at $46,743 on August 11 before forming a falling star formation and falling.

The decline was preceded by a bearish divergence on the RSI and the MACD

had already formed a lower momentum bar.

Moreover, the top was reached at the confluence of Fib resistance levels between $46,800 and $47,800.

It is possible that a local top has been reached and BTC could fall towards the $39,900 – $37,770 range.

BTC, ETH, XRP, XVG, NEAR, TRX, YFIBTC, ETH, XRP, XVG, NEAR, TRX, YFI BTC chart via Tradingview

ETH

ETH has been rising at an accelerated pace since July 20. It regained the horizontal support area at $2,600 on August 5.

So far, on August 11, ETH has reached a local peak at $3274.

However, this peak was coupled with bearish divergence on RSI and MACD. Since then, ETH has been falling and is in the process of breaking the parabolic ascending support line.

If this happens, it is likely to retrace back to the horizontal $2600 level.

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BTC, ETH, XRP, XVG, NEAR, TRX, YFIBTC, ETH, XRP, XVG, NEAR, TRX, YFI ETH chart courtesy of Tradingview

XRP

On August 7, XRP broke the horizontal resistance area at $0.77 and validated it as support

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It has so far managed to reach a local peak at $1.09 on August 11. However, it was rejected by the horizontal resistance area at 1,

USD 05 and formed a long upper wick (red icon).

A breakout above this resistance area could trigger a sharp upward move.

So far, technical indicators are not showing any form of weakness.

BTC, ETH, XRP, XVG, NEAR, TRX, YFIBTC, ETH, XRP, XVG, NEAR, TRX, YFI XRP chart courtesy of Tradingview

XVG

On May 23 and July 20, XVG successfully completed a double bottom formation near $0.015. This formation was combined with a bullish divergence on the MACD.

Since then, the price has been moving upwards and managed to reach the local peak at $0.033 on August 10. However, it failed to break out and instead formed a long upper wick. Thus, the $0.033 area has been confirmed as resistance. A breakout above this level could be the impetus for a sharp rise.

If there is a downward move, the main support area will be at $0.0235.

BTC, ETH, XRP, XVG, NEAR, TRX, YFIBTC, ETH, XRP, XVG, NEAR, TRX, YFI XVG chart via Tradingview

NEAR

NEAR has been moving upwards since July 20. On August 5, the price reclaimed the horizontal resistance area at $2.50 and confirmed it as support (green icon). The main resistance is located at $3.65.

Technical indicators are bullish and support the continuation of the upward movement.

As long as trading remains above the support area at $2.50, NEAR is likely to attempt to break above the resistance at $3.65.

BTC, ETH, XRP, XVG, NEAR, TRX, YFIBTC, ETH, XRP, XVG, NEAR, TRX, YFI NEAR chart via Tradingview

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TRX

TRX has been rising since July 20. On July 27, it broke the falling resistance line and accelerated.

The upward movement is supported by MACD and RSI, which are both rising. The former has just crossed into positive territory while the latter has crossed above 70.

However, TRX has failed to move above the key resistance area of $0.91 and has instead been rejected. Furthermore, the rally has become parabolic.

Because of this, some correction

would be likely. If this happens, the nearest support can be found at the $0.07 level. BTC, ETH, XRP, XVG, NEAR, TRX, YFI <img src=”https://yellowrocketagency.com/wp-content/uploads/2021/08/TRXUSDT_2021-08-12_09-54-48.png” alt=” width=”1633″ height=”831″ />TheTRX chartby Tradingview

YFI

YFI has been moving up since July 20. It managed to break out above the falling resistance line on July 28.

On August 12, it regained the resistance area at $38,000 and peaked at $45,000 on the same day.

However, this resulted in a long upper wick and YFI fell again.

Despite this decline, the trend can be considered bullish as long as trading remains above the $38,000 area.

The next nearest resistance level is at $51,000.

BTC, ETH, XRP, XVG, NEAR, TRX, YFIBTC, ETH, XRP, XVG, NEAR, TRX, YFI YFI Chart via Tradingview

For the latest analysis of Bitcoin (BTC) by BeInCrypto, click here

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