Bitcoin (BTC) is in the process of breaking out of a parallel descending channel.
Ethereum (ETH) broke out of the $ 3,375 resistance area.
XRP (XRP) is traded within a symmetrical triangle.
Terra (LUNA) reached a new all-time high on August 29.
Polkadot (DOT) and Uniswap (UNI) recovered levels of horizontal resistance.
Ankr (ANKR) has emerged from a parallel descending channel.
BTC has declined within a short-term parallel descending channel since August 29. Such channels often contain remedial facilities.
On September 1, BTC briefly broke the lows below $ 46,800 before regaining the horizontal support area.
Both the MACD and the RSI are gradually turning bullish. refore, a malfunction is likely to occur.
For a long-term analysis, click here.
ETH has been moving higher since July 20, when it was trading as low as $ 1,706. On August 13, it peaked at $ 3,327 but was rejected by the 0.618 Fibonacci Retracement Resistance Level at $ 3,375.
After consolidating for 18 days, ETH broke out on August 31.
move appears to be part of the fifth wave of bullish momentum.
most likely target for the top of the move is between $ 3,761 and $ 3,813. target is projecting wavelength one (black) and wavelength 0.382 of waves 1-3 (orange).
next most likely target is $ 4,150, followed by a new potential all-time high of $ 4,775.
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XRP has been on the rise since July 20. On August 13 it managed to break the horizontal area at $ 1.05. Later, he came back and validated the support area.
XRP move looks similar to that of ETH, with the exception that XRP is still in wave four, which took the form of a symmetrical triangle.
A potential target for the bullish high is $ 1.65. target is found using the 0.618 length of waves 1-3 and coincides with a horizontal resistance area.
MOON has moved up since July 20. On August 1, it broke out of a descending resistance line and reached a new all-time high of $ 36.89 on August 29.
high was combined with a bearish divergence on the RSI. Furthermore, it was reached right at the 1.61 Fibonacci external retracement resistance level.
LUNA has been declining ever since and is attempting to stay above the $ 30.50 horizontal support area.
DOT has been moving up since July 20 in what looks like a parabolic upward move. On August 21, it broke away from the $ 29 horizontal resistance area.
However, after a slight dip, it managed to break out amid a bullish engulfing candle on August 31. leak emerged with a considerable volume.
While there is possible bearish divergence on the RSI, both it and the MACD are moving higher.
next closest resistance is at $ 41.
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UNI has been climbing since it touched a low of $ 14.01 on July 21.
On August 11, it initially moved above the $ 19 resistance level, but then immediately fell below it. At the time it looked like a deviation (red circle) followed by a downward movement.
However, UNI started another upward movement and erupted on August 30.
On top of that, both the MACD and the RSI are turning bullish. former generated several higher momentum bars, while the latter is above 50.
next closest resistance is at $ 40.
ANKR had been declining within a parallel descending channel since March 28.
However, it rallied on June 22 and has been moving upward ever since.
On August 14, ANKR managed to exit the channel. However, it has not yet started a significant upward movement.
Despite the lack of a bullish move, the RSI has generated a significant hidden bullish divergence, a sign of trend continuation.
closest resistance area is $ 0.152.
For the latest Bitcoin (BTC) analysis from BeInCrypto, click here.
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