Cryptocurrencies price prediction: Bitcoin, Ethereum & Dash - 23 August
|Bitcoin price analysis: BTC/USD fails to hold above $10,200; will the 50 SMA hold?
Bitcoin led the market is a slight recovery on Thursday. This saw the grandparent of cryptocurrencies make headway above the critical $10,000. Bitcoin gave the price action a formidable boost above $10,100. Although the price scaled to an intraday high of $10,255, Bitcoin was unable to hold on to the tentative support at $10,200.
At press time, a bearish force is pushing Bitcoin towards the short-term trendline support. In the event this support gives in, BTC/USD is likely to refresh the levels around $10,100. The 50 Simple Moving Average (SMA) is in line to offer support at $10,079.59.
Ethereum market overview: What’s ‘next for ETH/USD after stepping above $190?
After testing the support at $180, Ethereum is in a recovery trajectory towards the critical $200. Although, reports have indicated that Ethereum breaking away from the altcoin s to become independent crypto like Bitcoin, the situation in the past week has not demonstrated that angle of reasoning. Instead, ETH has plunged in tandem with Bitcoin while leading the altcoin park in refreshing major support areas.
Meanwhile, ETH/USD recovery stepped above $190 following the formidable recovery from $180.01 weekly low. The daily chart shows an asset that Ether is sitting in a bullish zone after conquering $190 hurdle. However, the upside is limited by the long-term descending trendline.
Dash price analysis: DASH/USD at the helm of Friday crypto recovery
The widespread recovery staged on Thursday appears to be pre-maturely stalling. Bitcoin (BTC) seems to have spent all the batteries after tackling $10,200 resistance and its immediate retreat is once again, is dragging the crypto market down. On the contrary, Dash is coming out as a strong daily gainer after its value shot up more than 3.5% on the day.
Despite the correction across the board Dash is mitigating the reversal from the intraday high at $96.61 by holding ground above the 61.8% Fibonacci level taken between the last swing high at $96.61 to a swing low of $87.26.
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