Price analysis 8/13: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, SOL, LTC

A KPMG report titled "Pulse of Fintech H1 2022," shows that the full investment in the blockchain and cryptocurrency sector in the first half of this year has risen to $8.7 billion, which is more than double the $four.3 billion worth of deals washed in 2022.

KPMG global fintech co-leader Anton Ruddenklau said:

"Cryptocurrency and blockchain are exploding globally. I call back for the rest of this yr at least, crypto will be a very hot ticket for investors."

Separate inquiry by blockchain marketplace intelligence Blockdata besides shows that 55 out of the summit 100 banks by assets under direction have straight or through subsidiaries invested in crypto and blockchain firms.

*Daily cryptocurrency market performance. Source:* *Coin360*

Bittrex Global CEO Stephen Stonberg told Cointelegraph that the crypto manufacture has gone mainstream and is by the phase of early adoption. "What'south more than interesting to meet is the growth and acceleration of institutional adoption of cryptocurrencies. Almost all major institutions have invested in cryptocurrencies or program to invest in cryptocurrencies," Stonberg added.

Stonberg added:

"What's more than interesting to see is the growth and acceleration of institutional adoption of cryptocurrencies. Almost all major institutions have invested in cryptocurrencies or plan to invest in cryptocurrencies."

Will the strong institutional inflow into the crypto sector start the next leg of the uptrend? Let'southward study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

The bears pulled Bitcoin (BTC) below the 200-day elementary moving average ($45,218) on Aug 12 only they accept not been able to sustain the lower levels. The bulls have pushed the price dorsum to a higher place the 200-day SMA today, indicating ownership on dips.

If buyers propel the toll above the resistance line of the wedge, the BTC/USDT pair could rally to $51,500. This level may human activity as resistance merely if bulls exercise not give upwardly much ground, the uptrend may reach $lx,000.

The ascent 20-solar day exponential moving average ($41,743) and the relative force index (RSI) just below the overbought zone suggest that bulls are in the driver's seat.

If the cost turns downwards from the resistance line of the wedge, the bears will odor an opportunity. The first sign of weakness will be a intermission and close below the xx-twenty-four hour period EMA. Such a move could open the doors for a further decline to the critical support at $36,670.

ETH/USDT

Ether (ETH) dropped to the breakout level at $3,000 on Aug. 12 but the bears could not capitalize on the opportunity. The bulls purchased the dip and are attempting to resume the upwards-motion today.

The upsloping twenty-twenty-four hours EMA ($2,784) and the RSI in the overbought territory suggest that bulls accept the upper hand. If buyers propel the price higher up $3,274, the ETH/USDT pair could rally to $iii,587.06 and so to $4,000.

Contrary to this assumption, if the price turns down from $3,274, the pair may once more drop to $3,000 and consolidate between these ii levels for a few more days. A breakdown and shut beneath the 20-solar day EMA will suggest that the bullish momentum has weakened. The pair could then driblet to $2,450.

BNB/USDT

Binance Coin (BNB) formed an inside-mean solar day candlestick design on Aug. 12, indicating indecision amidst the bulls and the bears. The buyers purchased at lower levels and are currently attempting to resolve the doubt in their favor.

If bulls propel the price above $408.72, the up-move could reach the overhead resistance at $433. The bears may again pose a stiff challenge at this level and if the cost turns down from this resistance, the pair could drop to the xx-day EMA ($347).

A strong bounce off this support will propose that sentiment remains positive and traders are buying on dips. That volition increase the possibility of a suspension to a higher place $433. If that happens, the BNB/USDT pair could outset its journey to $520 and later to $600. The bears will have to pull the price back beneath $340 to gain the upper paw.

ADA/USDT

The long wick on Cardano's (ADA) candlestick on Aug. eleven shows that bears tried to stall the rally about the overhead resistance at $1.94. That was followed by an inside-day candlestick pattern on Aug. 12 simply the long tail on the day'south candlestick showed potent ownership at lower levels.

The bulls have thrust the price above the overhead resistance today, which opens the gates for a rally to the all-time loftier at $2.47. Still, the RSI has risen above 86, indicating that the rally is overextended in the short term.

Therefore, the ADA/USDT pair could witness selling at higher levels and may enter a minor correction or consolidation in the next few days. A break and close below $1.94 could event in a pullback to the xx-24-hour interval EMA ($one.51).

Alternatively, if bulls defend the breakout level at $i.94, it will suggest that traders are not booking profits. That will enhance the prospects of a retest of the all-time high.

XRP/USDT

XRP broke above the downtrend line of the descending channel and surged to the overhead resistance at $ane.07 on Aug. 11 simply the bulls could not sustain the higher levels. The bears pulled the price back inside the channel on Aug. 12 but the correction was brusk lived.

The bulls have again pushed the cost above the aqueduct today and are attempting to clear the stiff hurdle at $ane.07. If the price breaks and closes above $ane.07, the XRP/USDT pair could start its journeying to $ane.26 and and then to $i.70.

Opposite to this assumption, if the toll turns down from $1.07, the bears will once more try to pull the pair back into the channel. If they manage to do that, the next stop could be the 20-twenty-four hours EMA ($0.80).

If the price rebounds off the 20-solar day EMA, the bulls will make one more attempt to drive the pair higher up $1.07. Alternatively, a break and shut below $0.75 volition indicate advantage to the bears.

DOGE/USDT

Dogecoin (DOGE) formed a Doji candlestick pattern on Aug. 12. The long wick on the twenty-four hours'southward candlestick showed that bears are attempting to defend the overhead resistance at $0.29. Lower levels attracted buying from the bulls who are trying to propel the price above the overhead resistance today.

The ascent xx-twenty-four hours EMA ($0.23) and the RSI near the overbought territory suggest that the path of to the lowest degree resistance is to the upside. A breakout and close higher up $0.29 could clear the path for a rally to $0.35 and then $0.45.

Conversely, if the price turns downwardly from the overhead resistance, the DOGE/USDT pair could drop to the 20-24-hour interval EMA. If the price rebounds off this level, the bulls will take another get at $0.29. A break and close below $0.21 could point that bears are dorsum in the game.

DOT/USDT

The bulls pushed Polkadot (DOT) above the overhead resistance at $21 on Aug. 11 but their joy was brusque lived as the bears pulled the cost back below the level on Aug. 12.

The failure of the bears to sustain the price beneath $21 over again attracted buying and the bulls are currently attempting to thrust the price in a higher place $22.45. If they manage to do that, the DOT/USDT pair could rally to the overhead resistance at $26.l.

The bears are probable to defend the $26.l level aggressively every bit the 200-24-hour interval SMA ($27.23) is placed just above it. If the bulls do not cede much ground, it will indicate that buyers are not booking profits aggressively as they anticipate the rally to continue. A breakout and close to a higher place $26.50 may point an end of the downtrend.

On the reverse, if the price turns down from the current level and breaks below the twenty-day EMA ($eighteen.70), the pair could slide to $16.93.

UNI/USDT

Uniswap (UNI) turned downwards from the overhead resistance at $30 on Aug. 12 but the bears could not sink the price below the immediate support at the 200-day SMA ($26.eighteen). This suggests that bulls are buying on dips.

The price has rebounded today and the buyers are once more trying to thrust the price above the stiff overhead resistance at $30. If they tin pull it off, the UNI/USDT pair could rally to $37.

If bulls arrest the subsequent reject to a higher place $thirty, information technology will increment the likelihood of a retest of the all-time high at $45. The ascent 20-twenty-four hour period EMA ($24.80) and the RSI in the overbought zone advise that bulls are in command.

This positive view will invalidate if the price turns down from the electric current level and breaks below the moving averages. Such a move will signal that the pair may remain stuck inside the large range betwixt $13 and $30 for a few more days.

Related: OpenSea trading volume explodes 76,240% YTD amid NFT boom

SOL/USDT

The long wick on Solana's (SOL) candlestick on Aug. 11 and 12 shows that bears aggressively defended the overhead resistance at $44. Still, the sellers could not pull the price below the support at $38.10, indicating buying on dips.

The bulls have again pushed the price to the overhead resistance at $44 today. A breakout and shut higher up this level could open the gates for a rally to the psychological resistance at $50, followed by a retest of the best high at $58.38.

On the other hand, if the price turns downward from the current level, the SOL/USDT pair could drop to the twenty-day EMA ($36.77). A breakdown and close below this support will advise that the pair could extend its stay inside the range for a few more days.

LTC/USDT

The bulls have been struggling to push Litecoin (LTC) in a higher place the overhead resistance at $180 for the past two days. This suggests that bears are attempting to stall the relief rally in the zone between $180 and the 200-twenty-four hour period SMA ($191).

If the price turns downward from this zone, the bears will try to pull the LTC/USDT pair down to the 20-mean solar day EMA ($151). A strong rebound off this support will suggest that the sentiment remains positive. A breakout and close in a higher place the 200-day SMA volition signal that the downtrend may accept ended.

The pair could then rally to $225 where the bears may over again pose a stiff challenge. After that, if bulls flip the 200-day SMA to support, it volition betoken the outset of a new uptrend. This positive view will invalidate if the price turns down and breaks beneath $150.

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