We focus on buy-sell levels for SOL and other leading cryptocurrencies. Crypto coins have gained a lot of importance this week as they have had a quiet week.
Bitcoin not SOL causes frustration
Bitcoin continues to disappoint investors who were expecting a breakout on both sides. However, investors should follow this move closely. Because the longer the time spent within the interval, the stronger the final break. The employment report for July was published in a mixed form on August 4. For this reason, Bitcoin could not break out of the range it was in. The report showed that 187,000 jobs were added, a level less than the 200,000 expected by economists. However, average hourly wages remained strong, rising 0.4% for the month against expectations of a 0.3% increase.
Although the price is stuck in a range, analysts are making bullish forecasts for the second half of the year. A recent report from Matrixport expects $45,000 by the end of this year. The expectation for 2024 is $ 125,000. Let’s look at SOL and other cryptos.
Buy-sell levels for Bitcoin
Bitcoin’s price is squeezing between the 20-day exponential moving average (EMA) of $29,523 and the horizontal support of $28,861 before moving on to SOL price.
The downward-sloping 20-day EMA and the relative strength index (RSI) in the negative zone indicate that the bears have a slight advantage. If the price drops and holds below $28,861, the BTC/USDT rate will drop to $27,500 and then to $26,000. On the contrary, if the price bounces off at $28,861, it will indicate that the bulls are maintaining this level with all their might. A breakout and close above $30,000 will signal a reversal by the bulls. The pair will then move into the overhead resistance zone between $31,804 and $32,400.
Buy-sell levels for Ethereum
The fact that Ethereum, a competitor for SOL, fell below the 50-day simple moving average (SMA) of $1,871 on August 2 suggests that the bears are trying to gain the upper hand.
The bulls are trying to stop the decline near the strong support of $1,816. But the failure to achieve a solid recovery points to a lack of aggressive buying near the level. The downward-sloping 20-day EMA ($1,867) and the RSI just below the midpoint indicate that the path of least resistance is to the downside. If the price drops below $1,816, the ETH/USDT rate will fall to $1,698. This negative view will be invalid in the near term if the bulls push and sustain the price above the 20-day EMA. In this case, the pair will be between $1,816 and $2,000 for a while.
Buy and sell levels for BNB
BNB, which is in the top 10 along with SOL, turned down from the resistance line of the symmetrical triangle formation on August 2. This indicated that the bears strongly defended this level.
Both moving averages flattened. In addition, the RSI is located near the midpoint. Accordingly, this shows that there is a balance between supply and demand. If the price rises above the triangle, this balance will be in favor of the bulls. In this case, the BNB/USDT rate will try to rise to $265. In addition, the bears will again face a strong challenge. Conversely, if the price falls and goes below the triangle, it will signal that the bears are on a roll. In this case, the pair will retest the critical support at $220. If this level gives way, the pair will start the next leg of the downtrend.
Buy and sell levels for XRP
XRP, which is in the top 10 along with SOL, fell below the 20-day EMA ($0.68) on August 2. This was followed by another decline on August 3. This caused the price to fall below the strong support of $0.67.
The bulls will try to maintain the 61.8% Fibonacci retracement level of $0.64, as a break below this level will push the XRP/USDT rate down to the $0.56 breakout level. The 50-day SMA ($0.59) will act as temporary support. On the other hand, breakage is also within the realm of possibility. On the contrary, if the bulls push the price back above the 20-day EMA, this will indicate solid demand at lower levels. This will increase the likelihood that the pair will remain in the range of $0.67 to $0.85 for some time.
Buy and sell levels for Dogecoin
Dogecoin, which is in the top 10 along with SOL, fell below the 20-day EMA ($0.07) on August 2. This suggests that higher levels are attracting sellers.
The bulls are trying to push the price above the 20-day EMA on August 4. If they are successful, the DOGE/USDT rate may rise to a downtrend line. Selling by bears of this levelş is likely to pull up. If the price changes direction from the downtrend line, it will signal that the trend has turned negative and relief rallies are being sold. The bears will then attempt to push the price back below the 20-day EMA. On the other hand, this will challenge the breakout level of $0.07. On the other hand, a break and close above the downtrend line will indicate the start of a strong uptrend towards $0.10.
Buy-sell levels for Cardano
Cardano, which is in the top 10 with SOL, broke below the 20-day EMA ($0.30) on August 2. It also broke below the 50-day SMA ($0.30) on August 3. This move shows that the bears are trying to take control.
If the price remains below the uptrend line, sales will increase. In addition, the ADA/USDT rate will fall to $0.26 and then to the vital support of $0.24. Buyers are expected to vigorously maintain this level. If the bulls want to make a comeback, they will need to quickly push the price above the moving averages and the overhead resistance of $0.32. The pair can then rally to $0.34 and eventually to $0.38.
Buy-sell levels for Solana SOL
Solana SOL recovered from its strong support at $22.30 on August 4. Accordingly, this indicates that the bulls continue to maintain this level strongly.
If the price breaks above the 20-day EMA ($23.84), it will indicate that the SOL/USDT rate can move towards $25.12 and then towards $27.12. This remains the key resistance to watch on the upside. Because a break above this will potentially point to a new uptrend. In the meantime, the bears are likely to have other plans. They will try to sell the recovery to the 20-day EMA and push the pair below the support zone between $22.30 and the 50-day SMA ($21.38). If they succeed, the pair can fall to $18.
Buy and sell levels for Polygon after SOL
After the left, the MATIC has been bearish since reaching the highest level of $0.89 on July 13. Accordingly, this indicates a lack of intake at lower levels.
The MATIC/USDT rate reached support around $0.65, where the bulls are likely to make a strong defense. If the price recovers from the support and breaks above the moving averages, it will pave the way for a possible rise to $0.80. On the contrary, if the price breaks below $0.65, it will indicate that the bears remain in command. The pair will then decline to the $0.60 support. This level will again attract strong buying from the bulls.
Buy-sell levels for Litecoin
Litecoin, which is in the top 20 with SOL, experienced a downward price movement on August 2. This was followed by another decline on August 3, which completed the 100% retracement of the rally that started on July 29 at $ 82.91.
The bulls are struggling to maintain the support at $81.36. But bears are unlikely to give up their advantage easily. If the price breaks below $81.36, the selling will intensify. In addition, the LTC/USDT rate will fall to $ 76. Alternatively, if the price recovers from the current level, the pair will reach the overhead resistance at $87.37. A break above this level is significant. It will show that the pair may stick to the price range between $81.36 and $96.46 for a while.
Buy-sell levels for Polkadot, which is in the top 20 along with SOL
Polkadot has been hovering between $5 and $5.65 for the past few days. The price has reached the support of the range, which can witness a tough battle between bulls and bears.
The 20-day EMA ($5.17) started to decline. The RSI is also in negative territory. Accordingly, this indicates a small advantage for the bears. parofix.com If the price breaks below $5 and maintains this level, a deeper pullback will begin to $4.74 and then to $4.60. Instead, if the price recovers from the current level and breaks above the 20-day EMA, it will signal that the range remains intact. The DOT/USDT rate will then rise to $5.33 and then to the overhead resistance of $5.64.
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Bitcoin not SOL causes frustration
Bitcoin continues to disappoint investors who were expecting a breakout on both sides. However, investors should follow this move closely. Because the longer the time spent within the interval, the stronger the final break. The employment report for July was published in a mixed form on August 4. For this reason, Bitcoin could not break out of the range it was in. The report showed that 187,000 jobs were added, a level less than the 200,000 expected by economists. However, average hourly wages remained strong, rising 0.4% for the month against expectations of a 0.3% increase.
Although the price is stuck in a range, analysts are making bullish forecasts for the second half of the year. A recent report from Matrixport expects $45,000 by the end of this year. The expectation for 2024 is $ 125,000. Let’s look at SOL and other cryptos.
Buy-sell levels for Bitcoin
Bitcoin’s price is squeezing between the 20-day exponential moving average (EMA) of $29,523 and the horizontal support of $28,861 before moving on to SOL price.
The downward-sloping 20-day EMA and the relative strength index (RSI) in the negative zone indicate that the bears have a slight advantage. If the price drops and holds below $28,861, the BTC/USDT rate will drop to $27,500 and then to $26,000. On the contrary, if the price bounces off at $28,861, it will indicate that the bulls are maintaining this level with all their might. A breakout and close above $30,000 will signal a reversal by the bulls. The pair will then move into the overhead resistance zone between $31,804 and $32,400.
Buy-sell levels for Ethereum
The fact that Ethereum, a competitor for SOL, fell below the 50-day simple moving average (SMA) of $1,871 on August 2 suggests that the bears are trying to gain the upper hand.
The bulls are trying to stop the decline near the strong support of $1,816. But the failure to achieve a solid recovery points to a lack of aggressive buying near the level. The downward-sloping 20-day EMA ($1,867) and the RSI just below the midpoint indicate that the path of least resistance is to the downside. If the price drops below $1,816, the ETH/USDT rate will fall to $1,698. This negative view will be invalid in the near term if the bulls push and sustain the price above the 20-day EMA. In this case, the pair will be between $1,816 and $2,000 for a while.
Buy and sell levels for BNB
BNB, which is in the top 10 along with SOL, turned down from the resistance line of the symmetrical triangle formation on August 2. This indicated that the bears strongly defended this level.
Both moving averages flattened. In addition, the RSI is located near the midpoint. Accordingly, this shows that there is a balance between supply and demand. If the price rises above the triangle, this balance will be in favor of the bulls. In this case, the BNB/USDT rate will try to rise to $265. In addition, the bears will again face a strong challenge. Conversely, if the price falls and goes below the triangle, it will signal that the bears are on a roll. In this case, the pair will retest the critical support at $220. If this level gives way, the pair will start the next leg of the downtrend.
Buy and sell levels for XRP
XRP, which is in the top 10 along with SOL, fell below the 20-day EMA ($0.68) on August 2. This was followed by another decline on August 3. This caused the price to fall below the strong support of $0.67.
The bulls will try to maintain the 61.8% Fibonacci retracement level of $0.64, as a break below this level will push the XRP/USDT rate down to the $0.56 breakout level. The 50-day SMA ($0.59) will act as temporary support. On the other hand, breakage is also within the realm of possibility. On the contrary, if the bulls push the price back above the 20-day EMA, this will indicate solid demand at lower levels. This will increase the likelihood that the pair will remain in the range of $0.67 to $0.85 for some time.
Buy and sell levels for Dogecoin
Dogecoin, which is in the top 10 along with SOL, fell below the 20-day EMA ($0.07) on August 2. This suggests that higher levels are attracting sellers.
The bulls are trying to push the price above the 20-day EMA on August 4. If they are successful, the DOGE/USDT rate may rise to a downtrend line. Selling by bears of this levelş is likely to pull up. If the price changes direction from the downtrend line, it will signal that the trend has turned negative and relief rallies are being sold. The bears will then attempt to push the price back below the 20-day EMA. On the other hand, this will challenge the breakout level of $0.07. On the other hand, a break and close above the downtrend line will indicate the start of a strong uptrend towards $0.10.
Buy-sell levels for Cardano
Cardano, which is in the top 10 with SOL, broke below the 20-day EMA ($0.30) on August 2. It also broke below the 50-day SMA ($0.30) on August 3. This move shows that the bears are trying to take control.
If the price remains below the uptrend line, sales will increase. In addition, the ADA/USDT rate will fall to $0.26 and then to the vital support of $0.24. Buyers are expected to vigorously maintain this level. If the bulls want to make a comeback, they will need to quickly push the price above the moving averages and the overhead resistance of $0.32. The pair can then rally to $0.34 and eventually to $0.38.
Buy-sell levels for Solana SOL
Solana SOL recovered from its strong support at $22.30 on August 4. Accordingly, this indicates that the bulls continue to maintain this level strongly.
If the price breaks above the 20-day EMA ($23.84), it will indicate that the SOL/USDT rate can move towards $25.12 and then towards $27.12. This remains the key resistance to watch on the upside. Because a break above this will potentially point to a new uptrend. In the meantime, the bears are likely to have other plans. They will try to sell the recovery to the 20-day EMA and push the pair below the support zone between $22.30 and the 50-day SMA ($21.38). If they succeed, the pair can fall to $18.
Buy and sell levels for Polygon after SOL
After the left, the MATIC has been bearish since reaching the highest level of $0.89 on July 13. Accordingly, this indicates a lack of intake at lower levels.
The MATIC/USDT rate reached support around $0.65, where the bulls are likely to make a strong defense. If the price recovers from the support and breaks above the moving averages, it will pave the way for a possible rise to $0.80. On the contrary, if the price breaks below $0.65, it will indicate that the bears remain in command. The pair will then decline to the $0.60 support. This level will again attract strong buying from the bulls.
Buy-sell levels for Litecoin
Litecoin, which is in the top 20 with SOL, experienced a downward price movement on August 2. This was followed by another decline on August 3, which completed the 100% retracement of the rally that started on July 29 at $ 82.91.
The bulls are struggling to maintain the support at $81.36. But bears are unlikely to give up their advantage easily. If the price breaks below $81.36, the selling will intensify. In addition, the LTC/USDT rate will fall to $ 76. Alternatively, if the price recovers from the current level, the pair will reach the overhead resistance at $87.37. A break above this level is significant. It will show that the pair may stick to the price range between $81.36 and $96.46 for a while.
Buy-sell levels for Polkadot, which is in the top 20 along with SOL
Polkadot has been hovering between $5 and $5.65 for the past few days. The price has reached the support of the range, which can witness a tough battle between bulls and bears.
The 20-day EMA ($5.17) started to decline. The RSI is also in negative territory. Accordingly, this indicates a small advantage for the bears. parofix.com If the price breaks below $5 and maintains this level, a deeper pullback will begin to $4.74 and then to $4.60. Instead, if the price recovers from the current level and breaks above the 20-day EMA, it will signal that the range remains intact. The DOT/USDT rate will then rise to $5.33 and then to the overhead resistance of $5.64.
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