Price Analysis, August 7: Bitcoin, Ethereum, Ripple, Litecoin, Ethereum Classic 

 

USDT\BTC

Bitcoin price is forming the third wave of $1,838 mid-term uptrend.  Currently, it is being decided whether we’ll see a big price hike or  downwards correction to $2,800 

 The third wave can become the turning point. If there are new capital  flows, BTC will move up. The key level responsible for the whole future  of the uptrend is at $3,150. Providing no reversal down takes place  during the pullback to the level, high chances the rise will remain.  Otherwise, the price will have a reversal to the correction. 

USDT\ETH

Ethereum price has similar structure forming. The demand  levels show significantly lower numbers, compared to the first wave.  This may trigger a pullback. 

 The $246 point is breaking for the whole trend. If the  price corrects to this channel without a reversal downwards, it will  mean, there are still big purchases in place. In this case, ETH will go  up. A reversal down at the $246 point will indicate major buyer closing positions. That way the price might have a pullback. 

USDT\XRP

Ripple is in the midst of its $0.1542 uptrend correction. It is being traded at the most likely pullback bottom.  

 Correction zone to the $0.1542 upward trend will take place till $0.17.  XRP might speed up the growth. But the correction peak might be broken  at $0.177 in case of a pullback. 

USDT\LTC

Litecoin has a big supply level at the current peak. That’s why we see an upwards trend forming. 

 The $45 mark will indicate whether the trend will be broken and whether it will have a reversal down. 

USDT\ETC

A correction peak has been formed to the $13.2 uptrend with  Ethereum Price. The demand level exceeds the previous figures, and this  is a good sign for further growth. 

 The structure needs to keep on. Otherwise, there’ll be a reversal at $13.2 and the price might fall to the starting point.