Price analysis 8/30: BTC, ETH, ADA, BNB, XRP, DOGE, SOL, DOT, UNI, LUNA

In that location is an old proverb which says that history does not ever echo, simply it tends to rhyme. If that holds true for Bitcoin (BTC), and so a stiff up-move may non happen in the month of September.

Bybit data shows that since 2022, Bitcoin has airtight September in the red for half-dozen years and has managed a positive monthly close only on two occasions. The all-time performance was in 2022 when Bitcoin rose 6.04%.

*Daily cryptocurrency marketplace performance. Source:* *Coin360*

However, September'southward poor historical performance has not stopped small and large traders from accumulating Bitcoin in August. Ecoinometrics reported rising account balances for addresses belongings 1,000 to 10,000 BTC and for accounts that hold less than one Bitcoin.

Will September's poor historical tape scare away the bulls or volition this year exist an exception? Let's analyze the charts of the meridian-ten cryptocurrencies to find out.

BTC/USDT

The bulls once again failed to push the price above the overhead resistance at $50,000 on Aug. 29, suggesting that bears are defending the level aggressively. Bitcoin formed a Doji candlestick design on Aug. 29, which has resolved to the downside today.

The failure of the relative strength index (RSI) to climb back into the symmetrical triangle indicates weakness. If bears pull the price below the 200-day unproblematic moving average ($46,065), the BTC/USDT pair could drop to the next support at $42,451.67.

This level is likely to act as a strong support. If the cost rebounds off this level, the pair may remain range-bound between $42,451.67 and $l,500 for a few days.

A break and close below $42,451.67 volition signal the outset of a deeper correction. The pair may then correct to $36,670.

This negative view volition invalidate if the price turns upwardly from the electric current level and breaks above $l,500. Such a motility could open the gates for a rally to $sixty,000.

ETH/USDT

Ether (ETH) once once again turned down from the overhead resistance zone at $3,335 to $3,377.89 on Aug. 29. This suggests that bears are defending the overhead zone aggressively.

However, the bulls haven't surrendered and are defending the xx-day exponential moving average ($3,139) as seen from the strong rebound today. If bulls drive the price above the overhead zone, the ETH/USDT pair may resume its upwardly-move with a target objective at $3,670 and then $4,000.

On the other hand, if bears pull the price below the 20-twenty-four hour period EMA, the ETH/USDT pair could drop to the breakout level at $3,000. A bounce off this level may keep the pair range-spring betwixt $three,000 and $3,377.89 for a few more days.

A deeper correction may start if bears pull and sustain the price below the breakout level at $3,000. That could result in a pass up to the 200-day SMA ($2,389).

ADA/USDT

Cardano (ADA) turned down from $2.95 on Aug. 28, suggesting that bears are aggressively defending the overhead resistance at $2.97. That was followed by a Doji candlestick pattern on Aug. 29, indicating indecision among the bulls and the bears.

The uncertainty has extended today with the germination of the inside-mean solar day candlestick pattern. If sellers sink the ADA/USDT pair below the Aug. 29 intraday depression at $2.71, the pair may again drop to the breakout level at $ii.47. A strong rebound off this level may keep the pair range-bound between $2.47 and $2.97 for a few days.

Although the upsloping xx-day EMA ($ii.44) suggests reward to buyers, the negative difference on the RSI indicates the momentum is weakening. A suspension and close below $2.47 will advise the start of a deeper correction. The pair may then drop to $ii.20.

The bulls will take to push and sustain the price in a higher place the psychological level at $3 to signal the resumption of the uptrend.

BNB/USDT

The failure of the bulls to push and sustain Binance Money (BNB) above the May 19 intraday loftier at $516.l may take attracted profit-booking from short-term traders. The altcoin has turned down and it may at present drop to the breakout level at $433.

The bulls are probable to aggressively defend the support zone betwixt the 20-day EMA ($445) and the breakout level at $433. A strong rebound off this zone will advise that the sentiment remains positive and bulls are buying on dips.

A breakout and close above $520 will betoken the resumption of the uptrend. The BNB/USDT pair may and then rally to $600. Conversely, if bears sink the price below $433, the pair could drop to the 200-day SMA ($368).

XRP/USDT

XRP rebounded off the $i.07 back up on Aug. 27 but the bulls could not push the price to the downtrend line. This suggests that demand dries up at higher levels. The bears are currently attempting to sink the cost to the critical back up at $1.07.

The cost action of the past few days has formed a descending triangle design, which will complete on a break and close beneath $1.05. This setup has a target objective at $0.75. The flattening twenty-mean solar day EMA ($1.ten) and the RSI near the midpoint suggest that bulls are losing their grip.

Conversely, if the toll rebounds off the $i.05 support and breaks higher up the downtrend line, it volition negate the surly setup. The failure of a surly pattern is a bullish sign. The pair may and so start its rally to $1.35 followed past a motility to $one.66.

DOGE/USDT

Dogecoin (DOGE) rose above the overhead resistance at $0.29 on Aug. 27 but the bulls could not sustain the higher levels. The price dipped back below $0.29 on Aug. 28.

The bears volition now endeavour to sink the price below the immediate support at $0.26. If they tin pull it off, the DOGE/USDT pair could driblet to the critical back up at $0.21.

The flat xx-solar day EMA ($0.28) and the RSI most the midpoint suggest a balance between supply and demand.

This balance will shift in favor of the bulls if they can push and sustain the toll above the downtrend line. The pair may then rally to $0.35 and later to $0.45.

SOL/USDT

Solana (SOL) is in a potent uptrend. The up-move halted on Aug. 29 but the long tail on the 24-hour interval's candlestick showed that bulls bought on dips. The buyers have again pushed the toll to a new all-fourth dimension high today.

If bulls sustain the price in a higher place $100, the SOL/USDT pair could first its journey toward the next target at $122.09. Although the momentum is strong, the RSI above 83 suggests the rally is overheated in the brusque term.

The first sign of weakness will be a break and close below $ninety. That volition advise that traders are aggressively booking profits. The pair could and so correct to the xx-day EMA ($72), which is likely to act equally a strong back up. A break and close below this back up will betoken a possible change in tendency.

DOT/USDT

The uptrend line in Polkadot (DOT) is acting as a resistance. Attempts past the bulls to button the price back above this line failed on Aug. 27 and 28, which suggests that traders are closing their positions on rallies.

If bears pull the price below the 20-mean solar day EMA ($24.48), the DOT/USDT pair could witness further selling. The pair may then drop to the stiff support at $18. Such a move will advise that the pair may extend its range-bound action for a few more days.

The gradually flattening 20-solar day EMA and the RSI just above the midpoint suggest that bulls are losing their grip. To proceeds the upper paw, the bulls will have to push and sustain the toll above $28.sixty. That will complete a V-bottom pattern, which has a target objective at $46.83.

Related: This service is declaring that it's "crypto altseason" again

UNI/USDT

Uniswap (UNI) bounced off the $25 back up on Aug. 27 and rose above the moving averages but the bulls could not sustain the college levels. This suggests that bears have not given upward and are selling on rallies.

The price has dipped back below the moving averages today and the sellers will at present try to pull the price beneath the support at $25. If that happens, the UNI/USDT pair volition complete a minor descending triangle pattern. This bearish setup has a target objective at $eighteen.74.

Alternatively, if the price rebounds off the $25 support and breaks above the downtrend line, it will invalidate the surly setup. The pair could then rise to $30. The bulls will take to push and sustain the cost to a higher place this resistance to signal the kickoff of a new uptrend.

LUNA/USDT

Terra protocol'south LUNA rallied to a new all-fourth dimension high on Aug. 29 only traders used this rising to book profits. The price turned down today but bounced sharply from $32, indicating that bulls had flipped the previous resistance into support.

The buyers will now attempt to push the price above the all-time high at $36.89. If they manage to practise that, the LUNA/USDT pair could first its journey toward the next target objective at $43 and afterward to $50.

Contrary to this assumption, if the price again turns downward from $36.89, the bears will endeavour to sink the pair to the 20-day EMA ($27.23).

A strong rebound off this support volition advise that the sentiment remains positive and traders are buying on dips. The bulls will then again attempt to resume the up-motility. The bears will have to pull and sustain the price beneath the 20-solar day EMA to weaken the bullish momentum.

The views and opinions expressed here are solely those of the writer and practice not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should behave your ain research when making a decision.

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