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Yaz Sheikh



Articles by Yaz Sheikh

Crypto Price Analysis & Overview September 24th: Ethereum, Ripple, Cardano, Solana, and Avalanche

14 hours ago

Ethereum
Ethereum is down a sharp 21% this week as the coin sits beneath $3000. The sell-off started on Monday when ETH slipped beneath the neckline of a head & shoulders pattern and the 50-day MA. Initially, the market found support at $3000 but would continue to fall beneath it on Tuesday to find support at $2770 (.786 Fib Retracement).
ETH did rebound on Wednesday and Thursday as it climbed back above $3000. However, it lost another sharp 9% today, causing it to break back beneath $3000 and reach the support at the 100-day MA at around $2730.
Looking ahead, if the sellers push lower, the first support lies between $2770 (.786 Fib) and $2730 (100-day MA). This is followed by $2600 (200-day MA), $2500, $2420 (downside 1.618 Fib Extension), and $2200 (.786 Fib).
On the

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Ripple Price Analysis: XRP Bounces From 100-day MA and Battles to Reclaim $1

1 day ago

XRP/USD – Buyers Battling To Reclaim $1.
Key Support Levels: $0.95, $0.876, $0.8282.Key Resistance Levels: $1.05, $1.15, $1.25.
XRP fell beneath the $1.05 floor on Monday and ended up below $1, and the 200-day MA until support was found at $0.875 (.618 Fib). This level was further bolstered by the 100-day MA level, which allowed XRP to rebound.
After this, XRP went on to break the 200-day MA at $0.85 and spike back above $1. Unfortunately, the bulls have still not managed to gain ground above $1.00 so far.
XRP/USD Daily Chart. Source: TradingView.XRP-USD Short Term Price Prediction
Looking ahead, the first resistance lies at $1.05. This is followed by $1.10 (50-day MA & 20-day MA), $1.15, and $1.25 (Feb 2018 Highs).
On the other side, the first support lies at $0.95

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Cardano Price Analysis: ADA Recovers 6% In a Day, What’s Next?

2 days ago

ADA/USD – Buyers Rebound From $1.88 Support
Key Support Levels: $$2.00, $1.88, $1.80.Key Resistance Levels: $2.20, $2.40, $2.50.
ADA bounced by a total of 6% over the past 24 hours since finding support at $2.00 yesterday. The cryptocurrency had broken beneath the 50-day MA on Monday and spiked lower on Tuesday until support was met at $1.88, provided by a 1.414 Fib Extension.
The buyers regrouped at $1.88, allowing them to push toward $2.00 when the daily candle closed. Yesterday, ADA bounced from $2.00 and continued beyond $2.20. It now needs to break the September descending trend line before attempting the 50-day MA around $2.40.
ADA/USD Daily Chart. Source: TradingView.ADA-USD Short Term Price Prediction
Looking ahead, the first resistance lies around $2.20 (falling

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Ethereum Price Analysis: ETH Bulls Fight to Reclaim $3,000 as Market Struggles

3 days ago

ETH/USD – Ether Finds .786 Fib Support.
Key Support Levels: $2770, $2720, $2600.Key Resistance Levels: $3000, $3200, $3290.
Ethereum is now down a steep 15% on the week as it plummeted beneath $3000. The coin started the week off by falling beneath a rising trend line and the 50-day MA. The trend line also formed the neck of a head and shoulders pattern that could send it as low as $2400.
Since breaking the 50-day MA, ETH continued to decrease until it hit yesterday’s low at $2656. From there, the bulls regrouped to close the candle at $2770, which is support provided by a .786 Fib. It bounced from there today as it battles to stay above $2900.
ETH/USD Daily Chart. Source: TradingView.ETH-USD Short Term Price Prediction
Looking ahead, the first strong support lies at $2770

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Solana Price Analysis: SOL Trades Inside Price Channel Following Near 19% 7-Day Drop

3 days ago

SOL/USD – SOL Heading Lower Inside Descending Price Channel.
Key Support Levels: $130, $123, $121.Key Resistance Levels: $150, $160, $180.
SOL is down a sharp 18.5% this week as it continues to trend lower inside a descending price channel. It managed to set a new ATH price in the first week of September at $216. Since then, SOL rolled over to form the falling price channel.
On Saturday, the cryptocurrency attempted to break the upper angle of the price channel but failed to go above $170. During the capitulation yesterday, SOL fell as low as $130 but has since rebounded to $135.
For SOL to continue the upward trend it established over the past month, it would need to break above the price channel and clear $160 (20-day MA).
SOL/USD Daily Chart. Source: TradingView.SOL-USD

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Cardano Price Analysis: Following a 10% Weekly Crash, ADA Bulls Defend $2 Support

4 days ago

ADA/USD – Buyers Battle To Defend $2
Key Support Levels: $2.05, $2.00, $1.88.Key Resistance Levels: $2.21, $2.33, $2.40.
ADA managed to find support at $2 today as it rebounded from the .618 Fib level. The cryptocurrency is still down 10% over the week, $2 is looking to be a promising threshold for the bulls.
The cryptocurrency developed strong support at $2.40 last week but fell beneath it over the weekend. During the market capitulation yesterday, ADA dropped below the 50-day MA level at $2.30 and continued lower until it found the .618 Fib support at $2.05. Today, it did spike beneath $2, reaching as low as $1.91, but did quickly rebound.
ADA/USD Daily Chart. Source: TradingView.ADA-USD Short Term Price Prediction
Looking ahead, the first support lies at $2.05 (.618

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Ripple Price Analysis: XRP Plummets Below $1 as 200-day MA Comes Into Play

4 days ago

XRP/USD – XRP Loses Ground At $1
Key Support Levels: $0.875, $0.8282, $0.8.Key Resistance Levels: $1.00, $1.05, $1.14.
Since the early September flash crash, when XRP fell as low as $0.95 from a high of $1.40, XRP had established a solid range between $1.14 and support at $1.05 (.5 Fib Retracement).
Over the weekend, the cryptocurrency fell beneath the 50-day MA and tested the $1.05 support again. Today, the 12% price fall caused XRP to break support at $1.05 as it went on to crash beneath $1.00 and reach as low as $0.875 (.618 Fib & 100-day MA).
There, the combined support allowed XRP to bounce to the current $0.94 level as it sits above the 200-day MA.
XRP/USD Daily Chart. Source: TradingView.XRP-USD Short Term Price Prediction
Looking ahead, if the sellers break the

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Ethereum Price Analysis: ETH Crashes To $3000 as Broader Market Pulls Back

5 days ago

ETH/USD – Ether Plummets Into $3000 Support
Key Support Levels: $2890, $2770, $2720.Key Resistance Levels: $3200, $3300, $3350.
Ethereum fell a sharp 11.5% today as it crashed back to $3000. The cryptocurrency had dropped from near $4000 at the start of September as it fell into support around $3200 (.5 Fib Retracement) last week. A rising trend line bolstered the support, and it allowed ETH to rebound during the week.
It reached as high as $3600 last week but rolled over on Wednesday. By the weekend, ETH had returned to the support at the rising trend line and the 50-day MA around $3280. Today, it collapsed beneath the trend line and the 50-day MA to reach as low as $2920. It has since bounced from the low and is battling to hold above $3000.
The break beneath the trend

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Ethereum Price Analysis: ETH Reclaims 20-Day MA Following a 3-Day Surge of 18%

9 days ago

ETH/USD – Ether Reclaims 20-day MA After Finding $3200 Support.
Key Support Levels: $3530, $3350, $3200.Key Resistance Levels: $3790, $3975, $4000.
Ethereum managed to establish support at $3200 (.5 Fib) over the weekend. The level there was further bolstered by the 50-day MA, and it allowed ETH to start rebounding at the beginning of this week.
Yesterday, the cryptocurrency surged higher from $3400, allowing it to break resistance at the 20-day MA and reach $3600. The move is important because it shows that buyers are attempting to recover from the market capitulation seen last week.
ETH/USD Daily Chart. Source: TradingView.ETH-USD Short Term Price Prediction
Looking ahead, the first resistance lies at $3790 (bearish .786 Fib). This is followed by $3975 (1.272 Fib

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Ripple Price Analysis: XRP Rangebound Following Last Week’s Crash, What’s Next?

10 days ago

XRP/USD – XRP Establishes Narrow Range
Key Support Levels: $1.05, $1.00, $0.95.Key Resistance Levels: $1.14, $1.17, $1.25.
Since crashing from $1.40 last Tuesday, XRP has established a range between $1.05 and $1.14 over the past week. The support at $1.05 is provided by a .5 Fib and is now bolstered by the 50-day MA.
The cryptocurrency has dropped numerous times beneath $1.05 but has managed to close each daily candle above that line. On the other side, the resistance at $1.14 provided support in August and will need to be overcome in order to end the current range.
XRP/USD Daily Chart. Source: TradingView.XRP-USD Short Term Price Prediction
Looking ahead, the first support lies at $1.05 (.5 Fib & 50-day MA). The next levels are at $1.00, $0.95 (.618 Fib), $0.92 (200-day

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Polkadot Price Analysis: DOT Bulls Create Three Month Highs Following 9% Weekly Gains

10 days ago

DOT/USD – DOT Breaks Bearish .618 Fib.
Key Support Levels: $35.30, $32.55, $30.Key Resistance Levels: $38.65, $40, $42.10.
DOT surged above resistance at $30 toward the end of August as it started to climb higher in the first week of September to reach resistance at $35.30 (bearish .618 Fib). However, it could not overcome this level and ended up falling into the 200-day MA around $27.50 during the market crash last week.
Since then, DOT solidified the support at the 200-day MA and started to climb higher again. On Sunday, it surged above $35.30 and closed over the resistance. After a brief retracement to $32.50 yesterday, DOT has finally surged well above $35.30 to reach near $38 today.
DOT/USD Daily Chart. Source: TradingView.DOT-USD Short Term Price Prediction
Looking

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Cardano Price Analysis: ADA Down 16% Weekly Despite Smart Contracts Hardfork

11 days ago

ADA/USD – Bulls Battle To Defend .382 Fib.
Key Support Levels: $2.35, $2.20, $2.00.Key Resistance Levels: $2.60, $2.70, $2.80.
ADA fell from near $3 last week to spike as low as $1.97 (.618 Fib) during the flash crash. By the end of the week, ADA had established support at $2.35 (.382 Fib) and rebounded from there over the weekend.
Unfortunately, ADA could not close above resistance at $2.80 and ended up reversing from there to head back into the $2.35 support, where it currently sits. A break beneath this support could potentially cause ADA to continue lower toward the 50-day MA around $2.20.
It’s also worth noting that this takes place right as the network went through the much-anticipated launch of its smart contracts capability on the mainnet on Sunday, September 12.

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Ethereum Price Analysis: ETH Down 15% in a Week, Where is The Crucial Support?

12 days ago

ETH/USD – Ether Falls Into .5 Fib Support
Key Support Levels: $3200, $3150, $3000.Key Resistance Levels: $3350, $3480, $3600.
After Tuesday’s market wipeout, ETH is now down a total of 15% on the week after falling from near $4000. The coin found support at $3200 (.5 Fib) over the weekend and rebounded higher.
Unfortunately, it could not break the 20-day MA resistance at $3485 yesterday and rolled over from there today as it fell by 2% to meet the current $3200 (.5 Fib) level again. The support here is also bolstered by an ascending trend line that extends to early August.
ETH/USD Daily Chart. Source: TradingView.ETH-USD Short Term Price Prediction
Looking ahead, the first major support lies at $3200 (.5 Fib). This is followed by $3150 (50-day MA), $3000 (.618 Fib), and

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Crypto Price Analysis & Overview September 10th: Ethereum, Ripple, Cardano, Solana, & Matic

15 days ago

Ethereum
Ethereum dropped a sharp 10% this week as the cryptocurrency currently sits at around $3400. The cryptocurrency surged to $3975 last Friday, where it met the resistance at a 1.272 Fib Extension level.
It was unable to overcome it over the weekend and eventually collapsed from there on Tuesday during the market wipeout. ETH dropped as low as $3000 during the sell-off but eventually recovered by the end of the day to close the daily candle at $3428 (.382 Fib).
It held this support over the past two days but recently slipped beneath it today, reaching as low as $3350.
Looking ahead, the first support lies at $3350. This is followed by added support at $3240 (.5 Fib), $3100 (50-day MA), $3000, and $2890.
On the other side, the first resistance lies at $3500 (20-day

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Ethereum Price Analysis: Here Are the Next Critical Levels to Watch for ETH After the Crash

16 days ago

ETH/USD – Ether Falls Beneath 20-day MA
Key Support Levels: $3350, $3185, $3000.Key Resistance Levels: $3600, $3790, $3875.
Ethereum suffered a very sharp price crash over the past 24 hours. Yesterday, the coin lost as much as 23% from a high of $3946 to reach as low as $3025. However, the market recovered slightly by the end of the day to close at the 20-day MA.
Today, ETH slipped a little, which put the price beneath the 20-day MA. Yesterday’s price drop was quite extreme, and it is unlikely that a quick recovery would take place to take ETH back toward $4000.
ETH/USD Daily Chart. Source: TradingView.ETH-USD Short Term Price Prediction
Looking ahead, if the sellers continue to push lower, the first support lies at $3350 (August resistance). This is followed by $3185

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Ripple Price Analysis: XRP Dipped Below $1, Bulls Looking to Consolidate

16 days ago

XRP/USD – XRP Spikes As Low As $0.928
Key Support Levels: $1.05, $1.00, $0.92 – $0.9.Key Resistance Levels: $1.20, $1.25, $1.36.
XRP was trading inside an ascending price channel since breaking the symmetrical triangle pattern at the end of July. The price channel allowed XRP to break the August high at $1.36 this week and reach $1.40.
Unfortunately, the steep market sell-off yesterday caused XRP to fall beneath the ascending price channel. XRP collapsed by a total of 33% yesterday, causing the coin to spike beneath $1 and reach as low as $0.928 (.618 Fib). It has since rebounded from there to climb back above $1 and reach $1.10.
XRP/USD Daily Chart. Source: TradingView.XRP-USD Short Term Price Prediction
Looking ahead, the first resistance lies at $1.20 (20-day MA). This

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Cardano Price Analysis: ADA Crashed 10% Daily Following Failure to Overcome $3

18 days ago

ADA/USD – ADA Spikes Lower Into .382 Fib
Key Support Levels: $2.50, $2.26, $2.00.Key Resistance Levels: $2.76, $3.00, $3.20.
ADA has been battling the $3.00 resistance level since the end of August. The coin was trading inside an ascending price channel throughout the entire month, which allowed it to surge above the $3 level.
In September, ADA fell beneath the price channel after failing to overcome $3 after multiple attempts over the weekend. Yesterday, it fell into the support at $2.75 (20-day MA & .236 Fib). It continued to spike further lower today as it reached as low as $2.50 (.382 Fib) for a 10% daily crash.
It has bounced slightly from there as it trades above $2.60, but the recent pullback should have been expected after the market was rejected at $3 on numerous

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Ripple Price Analysis: XRP Pokes $1.40 As Bulls Manage a 6% Daily Increase

18 days ago

XRP/USD – XRP Breaks August Highs
Key Support Levels: $1.36, $1.25, $1.20.Key Resistance Levels: $1.40, $1.50, $1.54.
XRP has finally broken the August high at $1.36 today after spiking as high as $1.40. The coin reached $1.36 (1.618 Fib Extension) during mid-August and started to trend lower from there inside a symmetrical triangle.
The triangle was finally broken at the start of September as XRP started to surge inside an ascending price channel. XRP found support at $1.25 (Feb 2018 high) over the weekend and rebounded from there yesterday to break $1.30. It continued higher today to break the August high.
XRP/USD Daily Chart. Source: TradingView.XRP-USD Short Term Price Prediction
Looking ahead, the first resistance lies at $1.40. This is followed by $1.50 (bearish .786

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Ethereum Price Analysis: ETH Charts 22% Weekly Gains as Bulls Regroup for Another Attempt at $4K

19 days ago

ETH/USD – Ether Edges Closer To $4000 Resistance.
Key Support Levels: $3800, $3615, $3490.Key Resistance Levels: $3975 – $4000, $4060, $4200.
Ethereum broke the previous symmetrical triangle pattern consolidation on the final day of August and had been surging aggressively ever since. On Friday, ETH surged higher from $3790 (bearish .786 Fib) and climbed into the resistance at $3975 (1.272 Fib Extension).
The coin made two attempts to break this resistance over the weekend and failed on both occasions. It made another attempt today but has since rolled over and is trading at around $3900.
ETH/USD Daily Chart. Source: TradingView.ETH-USD Short Term Price Prediction
Looking ahead, the first strong resistance lies between $3975 and $4000. Beyond $4000, additional resistance

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Crypto Price Analysis & Overview September 3rd: Ethereum, Ripple, Cardano, Solana, & Polkadot

22 days ago

Ethereum
Ethereum is up by a very solid 27% over the past week of trading as the cryptocurrency makes its way back to the $4000 level. The cryptocurrency was trading inside an ascending triangle pattern since hitting resistance at $3350 (bearish .618 Fib) earlier in August.
On Tuesday, ETH finally surged beyond $3350 to reach $3400. It continued higher throughout the week and continued to surge today to reach the current $3975 resistance (1.272 Fib Extension).
Looking ahead, the first strong resistance lies at $4000. This is followed by $4060 (1.414 Fib Extension – blue), $4200 (1.414 Fib Extension – orange), and $4400 (1.618 Fib Extension – blue). Added resistance lies at $4535 (1.618 Fib Extension – orange) and $4600.
On the other side, the first support lies at $3800.

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Ethereum Price Analysis: ETH Eyes $3,800 Following a 17% Weekly Surge

23 days ago

ETH/USD – Ether Explodes After Triangle Breakout
Key Support Levels: $3640, $3510, $3400.Key Resistance Levels: $3825, $4000, $4060.
Ethereum penetrated the consolidation pattern this week, which was in play since mid-August when the coin failed to break resistance at $3350. This resulted in it forming a symmetrical triangle pattern for the second half of August and gaining about 17% in a week.
On Tuesday, ETH bounced from the 20-day MA and broke above the symmetrical triangle. It then continued to break the August resistance at $3350 (bearish .618 Fib) to climb above $3400.
It went higher yesterday as it surged from $3400 to reach higher $3825 (1.272 Fib Extension). It has since dropped from the high and is trading around $3765.
ETH/USD Daily Chart. Source:

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Ethereum Price Analysis: ETH Surges 8% Daily to Paint Fresh August Highs

25 days ago

ETH/USD – Ether Finally Breaks August Resistance
Key Support Levels: $3350, $3200, $3000.Key Resistance Levels: $3540, $3600, $3700.
Ethereum has been trapped inside a consolidation period since it established resistance at $3350 during mid-August. The cryptocurrency failed to overcome the resistance provided by a bearish .618 Fib Retracement and ended up forming a symmetrical triangle from there.
ETH had been trading inside this triangle pattern for the past fortnight as it dipped as low as $3000. It finally managed to break the consolidation today as it surged above the $3350 August resistance and passed $3400.
ETH/USD Daily Chart. Source: TradingView.ETH-USD Short Term Price Prediction
Looking ahead, the first resistance now lies at $3540 (1.618 Fib Extension). This is

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Cardano Price Analysis: ADA Bounces Amid Critical Support, Is $3 Retest Incoming?

25 days ago

ADA/USD – ADA Bounces From Ascending Price Channel Support
Key Support Levels: $2.95 – $3, $3.20, $3.42.Key Resistance Levels: $2.72, $2.58, $2.50.
ADA has been trading inside an ascending price channel for the entire period of August. The cryptocurrency recently hit resistance at $2.95, provided by a 1.272 Fib Extension, and rolled over from there over the weekend.
Cardano’s price found support at the lower boundary of the ascending price channel and has since rebounded back above $2.80. The resistance near $3 will be the next crucial level for the market to break to be able to continue the bull run.
ADA/USD Daily Chart. Source: TradingView.ADA-USD Short Term Price Prediction
Looking ahead, the first support lies between $2.95 (1.272 Fib extension) and $3. Beyond $3,

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Ripple Price Analysis: XRP Loses 9% in a Week But a Big Move Could be Ahead

25 days ago

XRP/USD – XRP Falls Beneath 20-day MA and Forms Triangle.
Key Support Levels: $1.10, $1.05, $0.92.Key Resistance Levels: $1.25, $1.28, $1.36.
XRP failed to break $1.27 (bearish .618 Fib) last week on the third attempt to overcome the level. As a result, the coin started to fall throughout the week until support was found on Thursday at around $1.05, provided by the lower angle of the triangle.
It rebounded from there over the weekend but could not break the upper angle of the triangle at around $1.20. As a result, XRP fell beneath the 20-day MA today as it heads lower. The apex of the triangle is quickly approaching, and a breakout in any direction can still be expected.
XRP/USD Daily Chart. Source: TradingView.XRP-USD Short Term Price Prediction
Looking ahead, the first

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Ethereum Price Analysis: ETH Remains Flat, Attempts a Breakout Against Bitcoin

26 days ago

ETH/USD – Ether Forms Symmetrical Triangle
Key Support Levels: $3150, $2985, $2890.Key Resistance Levels: $3350, $3540, $3700.
Since surging from $1800 at the end of July to meet resistance at $3350 in the first half of August, Ethereum has been consolidating inside a symmetrical triangle pattern. It has made over four attempts to break the $3350 resistance, provided by a bearish .618 Fib, and failed on each attempt.
Recently, ETH has been using the 20-day MA as support as it battles to remain above it as it consolidates in the triangle.
ETH/USD Daily Chart. Source: TradingView.ETH-USD Short Term Price Prediction
Looking ahead, the first support lies at $3150 (lower angle of the triangle). This is followed by support at $2985 (.236 Fib), $2890, $2740 (.382 Fib), and $2545

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Price Analysis Overview August 27: Bitcoin, Ethereum, Ripple, Cardano & Solana

28 days ago

Bitcoin (BTC)
Bitcoin is up a small 1% this week after getting rejected trying to breach above the $50,000 mark on Monday. The current high since May now lies at $50,500. Unfortunately, BTC was unable to sustain this level and ended up closing the daily candle beneath $50K.
Following the rejection, BTC headed sharply lower: Yesterday it fell back beneath $47,800, recording its weekly low amid $46.3k, however, the bitcoin price managed to close the day on top of the crucial 20-day MA (~$46.9k) – the first bullish sign for a possible reversal.
Today, BTC bounced from the support at the lower angle of the wedge and is attempting to push higher as of writing these lines. The cryptocurrency is now trading inside an ascending wedge formation, whereas the 3-month high resistance

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Cardano Price Analysis: ADA Sharply Rejected from $3 ATH, Will Next Critical Support Hold?

August 26, 2021

ADA/USD – ADA Rejected From ATH
Key Support Levels: $2.57 – $2.50, $2.35, $2.15.
Key Resistance Levels: $2.80, $2.95, $3.07.
ADA set a new ATH price above $3 on Monday, after soaring from $1.30 (50-day MA) at the start of August. The cryptocurrency surged inside an ascending price channel, and the market found resistance upon the upper boundary of the price channel after setting the ATH at almost $3, according to CoinGecko.
Together with the market retracement, ADA had also pulled back sharply over the past few days but so far – maintains the support at the lower boundary of the above-mentioned price channel, following a retest of the $2.5 support area earlier today. This is also where lies the .236 Fib Retracement support ($2.57).
ADA/USD Daily Chart. Source:

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Ethereum Price Analysis: After Another Rejection, ETH Battles To Maintain This Critical Support Level

August 25, 2021

ETH/USD – Will the 20-day MA Hold?
Key Support Levels: $3150, $3080, $3000, $2960.
Key Resistance Levels: $3190, $3350, $3400.
Despite ETH is up by a solid 47% over the past month and 6% weekly (according to CoinGecko), it failed in breaching the critical resistance at $3350. The latter resistance is provided by a bearish .618 Fib Retracement level, and it prevented the market from pushing higher in mid-August.
After the previous failed attempt, ETH retraced into the 20-day MA (blue line on the following chart) support at $3000 (last week) but quickly pushed higher toward the resistance for a second attempt.
Yesterday, following a second failure, ETH rolled over from $3350 and headed sharply lower, breaking down critical 20-day MA support at $3150, and bottoming around

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Ripple Price Analysis: XRP Breaking Down Critical Support, Is $1 Retest Incoming?

August 25, 2021

XRP/USD – XRP Breaking Down the Ascending Channel.
Key Support Levels: $1.10, $1.00, $0.92.
Key Resistance Levels: $1.25, $1.28, $1.36.
Following the market’s heavy correction, XRP dropped a sharp 8% over the past 24 hours as it fell from the Feb 2018 highs of $1.25 towards the current $1.14 level. The cryptocurrency was trading inside an ascending price channel since the start of August and struggled to break previous resistance at $1.28 (bearish .618 Fib) over the past week.
Today’s reversal caused XRP to break beneath the ascending price channel as it dropped as low as $1.10 over the past hours. If today’s daily candle closes below the price channel, then this breakdown might signal a larger potential short-term downtrend.
XRP/USD Daily Chart. Source:

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Crypto Price Analysis & Overview August 20th: Ethereum, Ripple, Cardano, Polkadot, & Solana

August 20, 2021

Ethereum
Ethereum saw a 5.4% price hike this week as the coin sits around $3200. It surged above $3200 last Friday to meet resistance near $3350, provided by a bearish .618 Fib Retracement level. Unfortunately, it could not overcome this level and ended up rolling over from there.
Throughout the week, ETH headed lower as it slipped beneath $3000 until support was found on Wednesday at $2960, provided by a .236 Fib and bolstered by the 20-day MA. It has since bounced higher from this support to break back above $3200 today.
Looking head, the first strong resistance now lies at $3350 (bearish .618 Fib). This is followed by $3540 (1.618 Fib Extension), $3600, $3790 (bearish .786 Fib), and $3880 (1.618 FIb Extension – blue).
On the other side, the first support lies at $3000

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