Bitcoin, Ethereum, Ripple, Cardano, and Binance Coin.

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Bitcoin

Bitcoin has seen a sharp 13.9% price rise this week as the cryptocurrency continues the uptrend that began in late July when it penetrated above the descending wedge consolidation pattern.

Last Friday, BTC was trading below $ 42,000, but finally broke through resistance at the end of the day. Over the weekend, BTC managed to hit the 200-day MA level at around $ 44,750.

It continued to climb Monday to reach $ 46,500. However, BTC stagnated there and started declining in the last few days until support was found at $ 44,000. It has since rebounded from there and is now back above $ 46,300.

Looking ahead, the first level of resistance is at $ 46,500. Next are $ 47,800 (bearish retracement of 0.618 Fib), $ 39,400 (extension of 1.272 Fib) and $ 50,000. Beyond $ 50,000, additional resistance stands at $ 50,740 (1.414 Fib Extension), $ 52,000 and $ 53,000 (bearish retracement of 0.786 Fib).

On the other side, the first support is around $ 45,000 (MA 200 days). Next are $ 44,000, $ 43,100 (.382 Fib), $ 42,000 (January 2021 high and 20-day MA) and $ 40,500.

BTC / USD daily chart. Source: TradingView.Ethereum

Ethereum also performed well this week as it jumped 14.7% to the current level of $ 3,230. The cryptocurrency surged above an ascending price channel last Friday to reach resistance at around $ 3,170.

Throughout the week, ETH climbed above $ 3,170 but was never able to close a daily candle above resistance. Yesterday it fell into support at $ 3,000, closing the daily candle at $ 3036 (previous resistance). It has since rebounded from there today and is trading above $ 3,200. A daily closing candle above $ 3200 today would signal that ETH is preparing for another bullish swing the following week.

Looking ahead, the first resistance is at $ 3,350 (bearish 0.618 Fib). Next are $ 3,540 (1.618 Fib Extension), $ 3,600, $ 3,790 (bearish 0.786 Fib) and $ 4,000.

On the other side, the first support is around $ 3150. This is followed by $ 3,036, $ 3,000, $ 2,890, and $ 2,725 (20 day MA and previous resistance).

ETH / USD daily chart. Source: TradingView.

ETH has seen relatively lackluster price movements against BTC this week. It had risen over the past fortnight and exceeded 0.07 BTC over the weekend. However, ETH quickly fell back below 0.07 BTC and has not been able to climb above so far.

On Monday, ETH found support at 0.067 BTC (0.382 Fib) and made numerous attempts to break 0.07 BTC, but failed each time as it is just below today.

Looking ahead, if buyers break 0.07 BTC, the first strong resistance is at 0.072 BTC (beraish 0.618 Fib). Next come 0.074 BTC, 0.077 BTC (1.414 Fib Extension) and 0.08 BTC.

On the other side, the first support is at 0.068 BTC. This is followed by 0.067 BTC (.382 Fib), 0.066 BTC (100 day MA, 0.0651 BTC) .5 Fib and 20 day MA) and 0.0632 BTC (50 day MA and .618 Fib) .

ETH / BTC daily chart. Source: TradingView.Ripple

XRP has seen an incredible 41% price increase over the past week as the coin finally breaks above $ 1. It was trading around $ 0.71 last Friday as it began to rise above the 200-day MA to hit the 2020 high of $ 0.8282.

The 2020 high was finally reached on Tuesday as XRP hit the 100-day MA. XRP exploded higher on Wednesday breaking $ 1 and hitting $ 1.10. It fell yesterday but found support at $ 0.93. Today, XRP climbed back above $ 1 while trading at $ 1.03.

Looking ahead, the first resistance is between $ 1.10 and $ 1.12 (bearish 0.5 Fib). Next come $ 1.21 (1.272 Fib Extension), $ 1.25 (2018 Fen highs) and $ 1.27 (bearish 0.618 Fib). Additional resistance stands at $ 1.36 (1.618 Fib Extension) and $ 1.50 (bearish 0.786 Fib).

On the other side, the first support is at $ 1. Next are $ 0.932 (0.382 Fib), $ 0.88 (0.5 Fib), $ 0.8282 (2020 high) and $ 0.78 (20 day MA).

XRP / USD daily chart. Source: TradingView.

Against BTC, XRP managed to break through a long-term descending trendline that was preventing the market from pushing higher this week. It was trading at around 1800 SAT and was struggling to break above the 50 day MA until Tuesday when XRP broke through the downtrend line.

XRP exploded higher on Wednesday to break above 2,000 SAT and hit the 100-day MA at around 2,200 SAT. It is currently still trading around this level after finding support at 2160 SAT (0.236 Fib) yesterday.

Looking ahead, the first resistance is at 2300 SAT. This is followed by 2425 SAT (bearish .382 Fib), 2515 SAT (1.272 Fib Extension), 2670 SAT (bearish .5 Fib) and 2800 SAT.

On the other side, the first support is at 2160 SAT (.236 Fib). Next come 2050 SAT (.382 Fib), 2000 SAT, 1965 SAT (.5 Fib) and 1900 SAT (July 2020 low and 50 days MA).

XRP / BTC daily chart. Source: TradingView. Cardano

ADA also saw an impressive price explosion of 47.9% this week as it climbs back above $ 2. Earlier this week, ADA was trading in an ascending price channel. The breakout above the channel occurred on Tuesday when it was pushed above the 100-day MA and crossed the border above $ 1.50.

It continued higher on Wednesday and Thursday to reach resistance at $ 1.90, provided by a bearish Fib retracement level of 0.618. Today, ADA jumped another 17% to break resistance at $ 1.90, break above $ 2.00 and hit $ 2.10.

Going forward, if the buyers break $ 2.10, the first resistance is at $ 2.17 (bearish 0.786 Fib). This is followed by $ 2.33 (bearish 0.886 Fib), $ 2.40, and $ 2.50 (1.414 Fib Extension).

On the other side, the first support is at $ 2. Next are $ 1.90, $ 1.83 (0.236 Fib), $ 1.68 (0.382 Fib), $ 1.60 and $ 1.50 (100 day MA).

ADA / USD daily chart. Source: TradingView.

ADA also performs very well against BTC. It found support around 3200 SAT on Tuesday and rebounded to hit the 50 day MA. On Wednesday, the ADA continued above the 50 day MA to reach resistance on a long term descending trendline.

This trendline was penetrated yesterday and the ADA continued to rise today to reach 4430 SAT (1.618 Fib Extension).

As you progress, the first resistance above 4430 SAT is at 4570 SAT (1.414 Fib Extension). Next come 4900 SAT (1.618 Fib Extension), 5000 SAT (May highs) and 5320 SAT (1.618 Fib Extension – orange).

On the other side, the first support is at 4200 SAT (July highs). This is followed by 4000 SAT, 3850 SAT (100-day MA), 3750 SAT (50-day MA) and 3600 SAT.

ADA / BTC daily chart. Source: TradingView.Binance Coin

BNB saw a respectable 18.8% price hike this week as the coin once again breaks above $ 400. The coin was trading around $ 340 last Friday as it started to rise. BNB on Tuesday managed to meet the 100-day MA and surpass it on Wednesday to hit $ 410.

It declined yesterday to hit support at $ 372 (0.236 fib), but rebounded again today to move back above $ 400.

Looking ahead, the first resistance stands at $ 433, provided by the June highs. Next are $ 442 (bearish 0.5 Fib), $ 472 (1.414 Fib Extension) and $ 500 (bearish 0.618 Fib).

On the other side, the first support stands at $ 373 (0.236 Fib). This is followed by $ 350 (0.382 Fib), $ 332 (0.5 Fib and 200-day MA) and $ 315 (0.618 Fib and 50-day MA).

BNB / USD daily chart. Source: TradingView.

BNB also rebounded higher against BTC to set a new August high today. The coin formed a double bottom at 0.00765 BTC on Tuesday and started to rebound from there. BNB broke through the 20-day MA on Wednesday to hit the 50-day MA at around 0.00877 BTC.

The BNB has since struggled to produce a closing candle above the 50-day MA.

Looking ahead, the first resistance is at 0.00877 BTC (50-day MA and 0.5 Fib bearish). This is followed by 0.009 BTC (downtrend line 0.618 Fib and bearish), 0.0094 BTC (100 day MA), 0.0096 BTC and 0.01 BTC.

On the other side, the first support is at 0.0085 BTC. Next are 0.00836 BTC (20-day MA), 0.008 BTC and 0.00765 BTC (double bottom).

BNB / BTC daily chart. Source: TradingView. SPECIAL OFFER (Sponsored) Binance Futures FREE 50 USDT Voucher: Use this link to sign up and get 10% discount on fees and 50 USDT when trading 500 USDT (limited offer).

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TradingView cryptocurrency charts.

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