Cryptocurrencies price prediction: Bitcoin, Monero & Litecoin - 8 August
|Bitcoin price prediction: BTC hovers around $11,800 as bears won't give up - Bitcoin confluence
BTC/USD has been hovering around $11,800 handle after an initial attempt to move above $12,000 barrier during early Asian hours. The p=most popular digital coin is still moving within the long-term upside trend; however, the short-term technical picture looks less inspiring. Inability to settle above the key barrier may signal that Bitcoin bulls are exhausted and may need to more time to regain strength before another assault.
Bitcoin confluence levels
There are a lot of technical levels clustered below the current price, while the path to the North is pretty clear. It looks that that we have a good chance for a bullish scenario, once the coin takes out the above-mentioned $12,000 barrier.
Monero price analysis: XMR/USD regains ground, off the intraday low at $94.14
Monero (XMR) is in the green zone, gaining over 4% of its value on a day-on-day basis. Monero, now the 10th largest digital asset with the current market value of $1.6 billion is changing hands at $95.50 at the time of writing. The coin hit an intraday bottom at $94.14 and has been growing steadily ever since.
Monero’s technical picture
On the intraday basis, XMR/USD is well-supported by $94.00 handle, strengthened by the intraday low. Once it is out of the way, the sell-off is likely to gain traction with the next focus on $93.50. This barrier is created by SMA50 (Simple Moving Average) 1-hour and the middle line of 4-hour Bollinger Band.
Litecoin price analysis: LTC/USD struggles at $90.00
At the time of writing, LTC/USD is changing hands at $90.22. despite some range-bound trading, the coin stays under bearish pressure following a strong sell-off from August 5 high reached on the background of Litecoin’s halving. LTC/USD has recovered from the intraday low of $87.52; however, it is still nearly 3% down on a day-on-day basis.
On the intraday charts, LTC/USD is supported by psychological $90.00. Once it is out of the way, the sell-off is likely to gain traction with the next focus on the recent intraday low of $87.52 strengthened by the lower line of 4-hour Bollinger Band. The next bearish target awaits us on approach to $83.40 (the lowest level since July 28).
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