Bitcoin

Toncoin

Shiba Inu

Avalanche

Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null">BTC</a>) continues to witness random and volatile price action inside the $55,724 to $73,777 range. Although it is difficult to predict the direction of the breakout from the range, long-term investors remain bullish. CryptoQuant data shows <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-exchanges-third-biggest-net-daily-outflow-2024" rel="null" target="null" text="null">net outflows of roughly 45,000 Bitcoin from exchanges</a> on Aug. 27, the third highest outflows.
In addition to Bitcoin, investors seem keen on accumulating Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null">ETH</a>) though the price action has been subdued. Popular analyst Satoshi Sniper highlighted in his post on X that <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ether-whales-accumulate-540m-price-bottom-nears" rel="null" target="null" text="null">Ether whales had added 200,000 Ether</a> worth roughly $540 million in the past four days.
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 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199cb-1153-78c1-b425-7fd54e48a901">
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 Crypto market data daily view. Source: <a data-ct-non-breakable="null" href="https://coin360.com" rel="null" target="null" text="null">Coin360</a>
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However, Bloomberg Intelligence senior commodity strategist Mike McGlone suggested in his latest analysis on X that the risk-asset race “may be over.” According to McGlone, Bitcoin peaked at 15 times the value of the S&amp;P 500 (SPX) in the first quarter of 2020, and the high in 2024 was 14 times. He projects a possible <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/btc-price-11x-sp-500-bitcoin-rolling-over-analyst" rel="null" target="null" text="null">50% drop toward 7 times</a> the value of the S&amp;P 500.
Could Bitcoin plummet to $55,724, or will it climb to $65,000? How are the altcoins likely to behave? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
<h2 id="bitcoin-price-analysis">Bitcoin price analysis</h2>
Bitcoin’s failure to break above $65,000 on Aug. 25 suggests that demand dries up at higher levels. That started a pullback, which dropped below the moving averages on Aug. 27.
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 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199cb-cc1f-76d7-b0f3-292e0b394ee9">
 <figcaption style="text-align: center;">
 BTC/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The bulls are trying to form a higher low at $58,000, but the relief rally is likely to face selling at the moving averages. If the price continues lower or turns down from the 20-day exponential moving average ($60,9046), it will suggest that bears remain in charge. The BTC/USDT pair may then slump to $55,724.
The moving averages are the near-term resistance levels to watch out for. If buyers overcome this hurdle, the pair may retest the $65,000 resistance. A break and close above this level will signal that the advantage has tilted in favor of the bulls.
<h2 id="ether-price-analysis">Ether price analysis</h2>
Ether turned down from the breakdown level of $2,850 on Aug. 24, indicating that the bears have flipped the level into resistance.
<figure>
 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199cc-98ad-7f21-aa73-f89db35d77e4">
 <figcaption style="text-align: center;">
 ETH/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The selling picked up after the ETH/USDT pair closed below the 20-day EMA ($2,670) on Aug. 26. The bears will try to pull the price to the solid support at $2,300. This is an important level to watch out for because a break below it may result in a retest of the Aug. 5 intraday low of $2,111.
If the price rises from the current level or rebounds off $2,300, it will signal demand at lower levels. That may keep the pair stuck inside the $2,300 to $2,850 range for a few days.
<h2 id="bnb-price-analysis">BNB price analysis</h2>
BNB (<a data-ct-non-breakable="null" href="https://cointelegraph.com/binance-coin-price-index" rel="null" target="null" text="null">BNB</a>) has been trading inside a large range between $460 and $635 for several months, indicating buying on dips and selling on rallies.
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 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199cd-4f54-7248-8b02-9e4101243572">
 <figcaption style="text-align: center;">
 BNB/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
Both moving averages have flattened out, and the RSI is just below the midpoint, indicating that the range-bound action may continue for some more time. If the price remains below the moving averages, the bears will try to sink the BNB/USDT pair to the $495 to $460 support zone.
On the contrary, if buyers push the price above the moving averages, the likelihood of a rally to $600 and thereafter to $635 increases. The next trending move will begin on a break above $635 or below $460.
<h2 id="solana-price-analysis">Solana price analysis</h2>
Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="null" target="null" text="null">SOL</a>) turned down and plunged below the moving averages on Aug. 27, indicating that higher levels are attracting sellers.
<figure>
 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199ce-01ff-7a25-a8f8-f15764f495f9">
 <figcaption style="text-align: center;">
 SOL/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The bulls will try to stall the down move in the $129 to $136 support zone. If the price bounces off the support zone, it is likely to face selling at the moving averages. If the price turns down and breaks below $129, the next stop is expected to be $116. Buyers will try to vigorously defend this level.
If bulls want to gain the upper hand, they will have to push and maintain the price above $164. The SOL/USDT pair may then climb to $189.
<h2 id="xrp-price-analysis">XRP price analysis</h2>
XRP (<a data-ct-non-breakable="null" href="https://cointelegraph.com/xrp-price-index" rel="null" target="null" text="null">XRP</a>) has been trading between $0.64 and $0.54 for the past few days, indicating that the bulls are buying on dips.
<figure>
 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199ce-b8c4-760e-be34-3adf122a5df2">
 <figcaption style="text-align: center;">
 XRP/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The bulls will try to push the price above the moving averages. If they do that, the XRP/USDT pair may climb to the $0.64 overhead resistance. This is a formidable hurdle to cross, but if the bulls prevail, the pair may rally to $0.74.
Conversely, if the price turns down from the 20-day EMA ($0.58), the bears will make another effort to sink the pair below $0.54. If they succeed, the pair could start a decline toward $0.46.
<h2 id="dogecoin-price-analysis">Dogecoin price analysis</h2>
Dogecoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/doge-price-index" rel="null" target="null" text="null">DOGE</a>) reversed direction from the 50-day SMA ($0.11) on Aug. 24 and broke below the 20-day EMA ($0.10) on Aug. 26.
<figure>
 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199cf-8332-7b3c-9f73-6dbe16a2000e">
 <figcaption style="text-align: center;">
 DOGE/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The DOGE/USDT pair will try to find support in the $0.10 to $0.09 zone. Buyers will have to push and retain the price above the falling wedge to suggest that the downtrend could be over. The pair may then attempt a rally to $0.14.
On the other hand, if the price plunges below the support zone, it will suggest that the bears remain in control. The pair may decline to the strong support at $0.08 and thereafter to the support line.
<h2 id="toncoin-price-analysis">Toncoin price analysis</h2>
Toncoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/toncoin-price-index" rel="null" target="null" text="null">TON</a>) turned down sharply from the 50-day SMA ($6.58) on Aug. 24 and broke below the $5.26 support on Aug. 26.
<figure>
 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199d0-392a-71c6-8d55-34dc023e2825">
 <figcaption style="text-align: center;">
 TON/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
Both moving averages have started to turn down, and the RSI is in the negative territory, indicating that the bears have the edge. The TON/USDT pair is likely to drop to the crucial support at $4.72. Buyers will try to defend this level with all their might because if the support breaks, the pair will complete a bearish head-and-shoulders pattern.
This negative view will be invalidated in the short term if the price continues higher and breaks above the moving averages.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-green-monthly-close-64-3k" rel="null" target="null" text="null">Can Bitcoin get a green monthly close above $64.3K?</a>
<h2 id="cardano-price-analysis">Cardano price analysis</h2>
Cardano (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ada-price-index" rel="null" target="null" text="null">ADA</a>) turned down and slipped below the 50-day SMA ($0.38) on Aug. 26, signaling that demand dries up at higher levels.
<figure>
 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199d1-2c9b-708d-9261-54508b741b8a">
 <figcaption style="text-align: center;">
 ADA/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The ADA/USDT pair continued lower and broke below the 20-day EMA ($0.36) on Aug. 27. Minor support at the uptrend line, but if that breaks down, the pair may slide to $0.31.
Contrarily, if the price turns up from the current level or the uptrend line, the bulls will again try to drive the pair above the 50-day SMA. If they do that, the likelihood of a rally to the downtrend line increases. Buyers will have to clear this hurdle to signal a potential trend change in the near term.
<h2 id="avalanche-price-analysis">Avalanche price analysis</h2>
Avalanche (<a data-ct-non-breakable="null" href="https://cointelegraph.com/avalanche-price-index" rel="null" target="null" text="null">AVAX</a>) turned down from the resistance line of the descending channel pattern on Aug. 25, indicating that the bears are aggressively defending the level.
<figure>
 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199d1-e828-723b-aa8f-262b1e71f930">
 <figcaption style="text-align: center;">
 AVAX/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The price has reached the 20-day EMA ($23.89), an essential level for the bulls to defend. If the price rebounds off the current level with strength, it will suggest buying on dips. That will improve the prospects of a rally above the channel. The AVAX/USDT pair may then climb to $33 and later to $37.
Alternatively, if the price breaks below the 20-day EMA, it will suggest that the pair may fall to $19.50, extending its stay inside the channel for some more time.
<h2 id="shiba-inu-price-analysis">Shiba Inu price analysis</h2>
The failure of the bulls to sustain Shiba Inu (<a data-ct-non-breakable="null" href="https://cointelegraph.com/shiba-inu-price-index" rel="null" target="null" text="null">SHIB</a>) above the 50-day SMA ($0.000015) attracted selling by short-term traders.
<figure>
 <img alt="Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019199d2-9433-789d-9e58-8d86025ca2fb">
 <figcaption style="text-align: center;">
 SHIB/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The SHIB/USDT pair turned down from the 50-day SMA on Aug. 25 and broke below the 20-day EMA ($0.000014) on Aug. 27. Buyers are trying to take support at the uptrend line, but if the bears prevail, the pair may drop to $0.000012. This level is again expected to act as a strong support.
The bulls will have to push and maintain the price above $0.000016 to signal the start of a sustained recovery toward $0.000020.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Price analysis 8/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

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