Price Analysis 8/12: BTC, ETH, XRP, LINK, BCH, BSV, LTC, ADA, XTZ, BNB

Above this level, the uptrend can reach $480. This bullish view will be invalidated if the ETH/USD pair reverses direction from the downtrend line and plummets below the 20-day EMA. Below this support, the correction can extend to the 61.8% Fibonacci retracement level of $304.367.XRP/USD. The bulls had pushed the price above the falling wedge on Aug. 11 but they could not sustain the higher levels.

The sharp bounce off the $12 levels has already pushed the LINK/USD pair above the $14.4586-$14.8537 resistance zone.

This view will be invalidated if the pair breaks and closes below $280. Such a move could drag the price to $260.BSV/USD. The failure to push the price higher attracted profit-booking by the traders on Aug. 11, which resulted in a break below the 20-day EMA. The bulls are currently attempting to keep Bitcoin SV above the $200 support.

The 20-day EMA is flat and the RSI is just below the 50 level, which points towards a possible range-bound action in the near term.

If the pair turns down from either resistance and breaks below $200, it will be a huge negative and could result in a drop to $160.LTC/USD. Litecoin broke below the $56-$60 range and the 20-day EMA on Aug. 11, which resulted in a retest of the breakout level of $51. The altcoin has bounced off this support, which is a positive sign as it shows that the bulls are attempting to defend this level.

The trend will turn in favor of the bears if the pair turns down from the current levels and breaks below $51.ADA/USD. Cardano broke below the 20-day EMA on Aug. 11 and the bears capitalized on this opportunity by pushing the price below the $0.13 support today.

The bears attempted to fake this breakout on Aug. 11 when they tried to sink the price back below the breakout level of $3.96.

If the bulls can close the price above $4.50, the next level to watch for is the 200% Fibonacci extension level of $4.8766 and then 261.8% extension level of $5.57.

The 20-day EMA is flattening out and the RSI has dropped below the 60 level, which suggests that the momentum has weakened marginally but the advantage remains with the bulls.

The bullish view will be invalidated if the BNB/USD pair turns down from the current levels and plummets below the trendline.