Price predictions 8/11: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE

1 week ago

Key points:

Bitcoin faces important selling adjacent its all-time high, but the bulls are keeping terms supra $120,000, indicating strength.
Ether remains beardown supra its breakout level of $4,094, opening the doors for a further rally.

Bitcoin (BTC) roseate supra $122,000 connected Monday, but the agelong wick connected the candlestick shows the bears are vigorously defending the all-time precocious of $123,218. However, if buyers bash not cede overmuch crushed to the bears, BTC remains connected way to deed a caller all-time high.

Institutional investors besides turned affirmative connected Wednesday, with the BTC exchange-traded funds witnessing $91.55 cardinal successful nett inflows. The inflows accelerated connected Thursday and Friday, signaling $280.69 cardinal and $403.88 million, respectively, per SoSoValue data.

BTC’s bullish sentiment rubbed disconnected connected the full cryptocurrency assemblage with respective altcoins charging higher, led by Ether (ETH).

BitMEX co-founder Arthur Hayes, who had sold 2,373 ETH conscionable a fewer days agone erstwhile the terms was adjacent $3,507, repurchased each of it astatine a much higher terms astir $4,150, according to a station connected X.

Could BTC breakout to a caller all-time high? Will altcoins travel BTC higher? Let’s analyse the charts of the apical 10 cryptocurrencies to find out.

S&P 500 Index terms prediction

The S&P 500 Index (SPX) dipped beneath the 20-day elemental moving mean (6,331) connected Aug. 1, but the bulls swiftly reclaimed the level connected Aug. 4.

The bulls volition effort to resume the uptrend by pushing the terms supra the 6,427 level. If they negociate to bash that, the scale could surge to 6,500 and aboriginal to 6,696.

The archetypal motion of weakness volition beryllium a interruption and adjacent beneath the 20-day SMA. That suggests profit-booking astatine higher levels. The scale whitethorn past diminution to the breakout level of 6,147. Buyers are expected to support the 6,147 level with each their mightiness due to the fact that a interruption beneath it signals a imaginable short-term top.

US Dollar Index terms prediction

The US Dollar Index (DXY) is trying to find enactment adjacent the moving averages, but the agelong wick connected Monday’s candlestick shows the bears are selling connected rallies.

If the terms dips beneath 97.94, the bears volition effort to propulsion the scale to 97.10. Buyers are expected to fiercely support the portion betwixt 96.37 and 97.10 due to the fact that a interruption beneath it opens the doors for a driblet to 95.

On the upside, buyers volition person to thrust the terms supra 99.32 to suggest that the bears are losing their grip. The scale could past ascent to 100.54 and subsequently to 102. Sellers are apt to airs a beardown situation astatine the 102 level.

Bitcoin terms prediction

BTC broke supra the downtrend enactment connected Sunday, and the bulls continued the momentum connected Monday, reaching $122,335.

The bears are trying to defender the all-time precocious of $123,218, but a affirmative motion is that the bulls person kept up the pressure. That enhances the prospects of a interruption supra $123,218. If that happens, the BTC/USDT brace could skyrocket toward $135,000.

The archetypal motion of weakness volition beryllium a interruption and adjacent beneath the 20-day SMA ($116,795). That signals a imaginable scope enactment successful the adjacent term. Bitcoin’s terms could oscillate betwixt $111,920 and $123,218 for a while. The brace volition awesome a short-term inclination reversal beneath $110,530.

Ether terms prediction

ETH picked up momentum aft breaking supra $3,745 connected Thursday, and the bulls cleared the overhead hurdle astatine $4,094 connected Saturday.

The bears are improbable to springiness up easy and volition effort to propulsion the terms backmost beneath $4,094. If they negociate to bash that, the ETH/USDT brace could plummet to the 20-day SMA ($3,793). A coagulated bounce disconnected the 20-day SMA indicates a affirmative sentiment, expanding the likelihood of the continuation of the up determination toward $4,868.

Sellers volition person to descend Ether’s terms beneath the 20-day SMA to summation the precocious hand. A short-term inclination reversal volition beryllium signaled connected a interruption beneath $3,350.

XRP terms prediction

XRP (XRP) turned up from $2.90 connected Wednesday and surged supra the 20-day SMA ($3.10) connected Thursday.

The bears stalled the up determination astatine $3.38 connected Friday, but a affirmative motion is that the bulls person not allowed the terms to dip backmost beneath the 20-day SMA.

If the terms rises supra $3.38, the XRP/USDT brace could march toward $3.66. Sellers are expected to aggressively support the $3.66 level, but if the bulls person their way, the rally could widen to $4 and aboriginal to $4.50.

On the contrary, if the terms continues little and breaks beneath the 20-day SMA, it signals that the bears stay progressive astatine higher levels. XRP terms could past tumble to the 50-day SMA ($2.81).

BNB terms prediction

BNB (BNB) has held supra the $794 level for the past 2 days, but the bulls are struggling to prolong the terms supra $815.

The upsloping moving averages and the RSI successful the affirmative portion bespeak that bulls person an edge. If the terms rebounds disconnected $794 and rises supra $828, the BNB/USDT brace could soar to $861.

Instead, if the terms turns down and breaks beneath the 20-day SMA ($785), it suggests nett booking astatine higher levels. BNB terms whitethorn past plummet to the coagulated enactment astatine $732, wherever the buyers are expected to measurement in.

Solana terms prediction

Solana (SOL) pierced the 20-day SMA ($176) connected Saturday and reached the overhead absorption astatine $185.

The bulls volition effort to propulsion the terms supra $185 and summation the precocious hand. If they bash that, the SOL/USDT brace could ascent to $195 and aboriginal to $209. Sellers are expected to equine a beardown defence astatine $209.

Conversely, a interruption beneath the 20-day SMA signals that the bears are aggressively defending the $185 level. Solana’s terms could past driblet to the 50-day SMA ($166) and aboriginal to the coagulated enactment astatine $155.

Dogecoin terms prediction

Dogecoin (DOGE) roseate supra the 20-day SMA ($0.22) connected Friday, but the bulls are struggling to propulsion the terms to $0.26.

If the terms turns down and slips beneath the 20-day SMA, the DOGE/USDT brace could descend to the 50-day SMA ($0.20). That suggests a consolidation betwixt $0.25 and $0.19 for immoderate time.

If the terms bounces disconnected the 20-day SMA and breaks supra $0.25, DOGE could rally to $0.29. On the downside, a interruption beneath $0.19 could descend the brace to $0.16 and yet to $0.14.

Cardano terms prediction

Cardano (ADA) roseate supra the 20-day SMA ($0.77) connected Friday, indicating that the buyers are making a comeback.

Sellers tried to propulsion the terms beneath the 20-day SMA connected Sunday, but the bulls held their ground. The bounce disconnected the 20-day SMA connected Monday met with selling unit astatine higher levels.

A interruption and adjacent beneath the 20-day SMA weakens the bullish momentum. Cardano’s terms whitethorn past descend to the 50-day SMA ($0.71).

Buyers volition beryllium backmost successful the driver’s spot if they thrust the ADA/USDT brace supra $0.86. That opens the gates for a rally to $0.94.

Hyperliquid terms prediction

Hyperliquid (HYPE) has rebounded successful the past fewer days, indicating assertive buying astatine little levels.

The HYPE/USDT brace is witnessing a pugnacious conflict betwixt the bulls and the bears astatine the enactment enactment of the ascending transmission pattern. If the terms turns down from the enactment line, the HYPE terms could driblet to the moving averages. A bounce disconnected the moving averages increases the likelihood of a rally to $50 and, aft that, to $62.50.

Alternatively, a interruption and adjacent beneath the moving averages suggests that the bears are trying to prehend control. The brace whitethorn past slump to $35.50.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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