BTC, ETH Price Analysis: August 27, 2020

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The rising atmosphere that started yesterday continues. In the top 10 cryptocurrencies, only Tether (USDT) and Ripple (XRP) are in the red area. Especially the popular crypto currency Chainlink (LINK) of recent times has upset its investors with its decline. But the leading DeFi cryptocurrency has gained nearly 7% in value in the past 24 hours, reaching $ 15.37.

BTC / USD

In the morning hours of the previous day, buyers managed to overcome the two-hour EMA55 resistance, and in the afternoon Bitcoin (BTC) price tried to gain ground above the POC line ($ 11,740). However, the rally was not supported by large volumes and the pair fell below the average price. The bears’ attack continued this week in BTC. If this attack continues, BTC could return to 50% Fibo ($ 11,394), according to Denys Serhiichuk.
Bitcoin was being traded at $ 11,415 at the time of writing.

ETH / USD

Ethereum (ETH) stopped selling at $ 370 on Tuesday and managed to rise to $ 382. The second largest cryptocurrency has surged over 1% in the past 24 hours and has remained mostly unchanged since the beginning of the day. ETH / USD has stepped aside since the beginning of the week, moving in sync with Bitcoin (BTC).

ETH USD Tanya FX

ETH / USD 1-Hour Chart Source: FX Street
According to FX Street analyst Tanya Abrosimova, if the coin fails to reach above $ 400, the selling pressure could increase significantly and worsen the short-term technical picture.

If the leading altcoin rises above the POC level ($ 395) during the day and stays there, recovery will continue at the new week’s high of $ 420. If sellers push back the checkpoint, the pullback could reach support at $ 360.
Ethereum was trading at $ 385.70 at the time of writing.


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