Price Analysis 21/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM

We will wait for the trend to turn up and the price to sustain above the 20-day EMA before proposing a trade in it.

XRP/USD. The pullback in XRP stalled at the 20-day EMA. This shows that traders are using relief rallies to lighten up their positions.

The price is likely to retest the $0.225-$0.24508 support zone.

Contrary to our assumption, if bulls defend the support zone, the XRP/USD pair might again attempt to ascend the 20-day EMA. If the price sustains above the 20-day EMA, it will be a sign that the current breakdown was a bear trap.

The first support on the downside is at $166.98, but if it fails to hold, the drop can extend to $105. The downsloping moving averages and RSI in the negative zone suggest that bears have the upper hand.

We will turn positive if the price sustains above $360. Until then, we suggest traders remain on the sidelines.

LTC/USD. In a strong downtrend, the pullbacks do not even reach the 20-day EMA. That is what happened in Litecoin as the rebound from the 61.8% Fibonacci retracement level fizzled out well before reaching the 20-day EMA.The LTC/USD pair is likely to breakdown of $69.9227 and drop to the next support at $58. If this support also breaks down, a decline to $49.3305 will be in the cards.

The price can now dip to the strong support of $26.202.

If the price sustains above the 20-day EMA, it will signal that buyers are back in the game.

If the XLM/USD pair turns around from current levels and scales above both moving averages, it will signal a likely change in trend.