August 5 Technical Analysis: Key Trend Analysis of BTC, ETH, XRP, SOL, DOGE, ADA, XLM

As the global cryptocurrency market experiences increased fluctuation, Bitcoin (BTC) and major altcoins are at critical technical levels. Despite continuous withdrawals of ETF funds, some listed companies and institutions are counter-trend increasing their holdings of BTC and ETH. This article will combine the latest capital flows, industry news, and technical charts to deeply analyze the bull-bear divide and potential trading opportunities for BTC, ETH, XRP, SOL, DOGE, ADA, and XLM.

Bitcoin (BTC) Technical Analysis

BTC bulls are struggling to hold the $115,000 level, but short-selling pressure remains high. After breaking below the head-and-shoulders neckline on Friday, support was found at the 50-day moving average ($112,262). The 20-day moving average ($117,237) is starting to decline, and the RSI is below neutral, indicating that the bearish advantage is gradually expanding.

Short-term resistance: the range from the neckline to the 20-day moving average, where a rebound is expected to encounter selling.

Key support: $110,530, if lost, it may fall towards $105,000~$100,000.

Bullish reversal condition: Recover and stabilize above the 20-day moving average, with the potential to retest the resistance zone of 120,000~123,218 US dollars.

Ethereum (ETH) Technical Analysis

ETH found support between $3,422 (50% Fibonacci retracement) and $3,300 (61.8% retracement). During the rebound, the 20-day moving average ($3,652) became the primary resistance level.

Upward targets: If it breaks above the 20-day moving average, it can reach $3,941 and $4,094.

Downside risk: If it falls below $3,354, it may test the 50-day moving average ($3,013).

Ripple (XRP) Technical Analysis

XRP fell below $2.95 on Saturday and rebounded at the 50-day SMA ($2.66) on Sunday. In the short term, it is expected to challenge the 20-day moving average ($3.19), but it is anticipated that there will be selling pressure at that level.

Bullish and bearish reversal: Breaking through the 20-day moving average may continue the upward trend to $3.33 and $3.66.

Support Level: If it falls below the 50-day moving average, the retracement target is $2.40.

Solana (SOL) Technical Analysis

SOL broke below the 50-day moving average (161 USD) and quickly rebounded. The moving average is currently flat, the RSI is in the negative zone, and there is a clear tug-of-war between bulls and bears.

Upward conditions: Recovering the 20-day moving average (179 USD) could challenge 195 USD.

Downside risk: If it breaks below 155 USD, it may further test the bottom at 144~137 USD.

DOGE Technical Analysis

DOGE has recently been consolidating in the range of 0.14~0.29 USD, with moving averages flat, and RSI weak, showing a clear short-term oscillation pattern.

Downside risk: A drop below the 50-day moving average (0.19 USD) may test the strong support at 0.14 USD.

Upward opportunity: Recapturing the 20-day moving average may first aim for 0.26 USD, and then attack the main resistance at 0.29 USD.

Cardano (ADA) Technical Analysis

ADA rebounded from the 50-day moving average ($0.68) on Sunday, with the two moving averages flat, and the RSI neutral, indicating a temporary balance in supply and demand.

Downward risk: If it falls below the 50-day moving average, it may continue to drop to 0.50 USD.

Bullish conditions: Must hold above the 20-day moving average to regain upward momentum.

Stellar (XLM) Technical Analysis

XLM is attempting to rebound from $0.34 (61.8% Fibonacci retracement), but the 20-day moving average ($0.43) is expected to create strong selling pressure.

Downward observation: If the 50-day moving average (0.33 USD) is lost, it may test 0.29 USD.

Bullish target: After recovering the 20-day moving average, it is expected to challenge 0.46~0.49 USD.

Conclusion

Overall, the crypto assets market is still full of variables in the short term. Whether Bitcoin can hold the $115,000 mark will determine if alts can launch a new round of rebound. It is recommended that investors closely monitor technical levels and capital flows, flexibly adjust their trading strategies, and seize the turning points between long and short positions.