Price analysis 8/14: $BTC , $ETH , $SOL
#Bitcoin❗ is struggling to maintain above the psychological level of $60,000, indicating that the bears are active at higher levels.
•The bears will try to strengthen their position and sink the BTC/USDT pair to the critical support at $55,724. This level is likely to attract solid buying by the bulls. If the price rebounds off $55,724, the bulls will again try to drive the pair above the moving averages. If they succeed, the pair could start a rally to $70,000. The bears are expected to fiercely defend the zone between $70,000 and $73,777. #MarketDownturn
👉Ether price analysis::
•Ether has continued to rise higher but failed to retest the breakdown level of $2,850, indicating hesitation to buy at higher levels.
•The ETH/USDT pair is likely to witness a tough battle near $2,850. If the price turns down sharply from $2,850, it will signal that the bears are trying to flip the level into resistance. The pair could slide to $2,500 and subsequently to $2,300.#ETHETFsApproved
•On the contrary, if buyers drive the price above $2,850, it will suggest that the markets have rejected the lower levels. The pair may then attempt a rally to the 50-day simple moving average ($3,118), which is likely to attract sellers.
👉Solana price analysis::
•SOL has been stuck inside the large range of $116 to $210 for several months, indicating buying on dips and selling on rallies.#SolanaUSTD
•The bulls are trying to form a higher low at $141 but they are finding it difficult to push the price above the 20-day EMA ($153). If the price turns down from the 20-day EMA and breaks below $141, the selling could pick up, and the SOL/USDT pair may plummet to $130.
•Instead, if the price turns up and breaks above the 20-day EMA, it will suggest that the bulls are trying to make a comeback. There is a minor resistance at $164, but the rally could reach $189 if this level is crossed.
