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Crypto

BTC, ETH, and XRP Price Analysis for August 19


The cryptocurrency market could not withstand bears’ pressure, and almost all coins are in the red zone again.

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has gone down by almost 9% over the last 24 hours.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) has broken the $23,000 mark, as well as the support level at $22,400. Currently, one needs to pay attention to the closest level at $20,700. If the false breakout happens, there are chances to see a bounceback. However, it is too early to think about a midterm bull run.

Bitcoin is trading at $21,420 at press time.

ETH/USD

Ethereum (ETH) has lost more than Bitcoin (BTC) with a drop of 9.1%.

ETH/USD chart by TradingView

Ethereum (ETH) has also broken its vital level at $1,785. If the rate does not return above the $1,700 mark and fix there, the drop may continue to the support at $1,594 until the end of August.

Ethereum is trading at $1,688 at press time.

XRP/USD

XRP is the biggest loser from the list, going down by 10% since yesterday.

XRP/USD chart by TradingView

XRP has broken the $0.3635 level, which means that bears have seized the initiative. At the moment, the more likely scenario is a further drop to $0.32 if buyers cannot restore the price above $0.34 soon.

XRP is trading at $0.3360 at press time.



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