Downtrend

Bitcoin (BTC) price is in a downtrend as it holds above the $20,790 support. Since August 19, the BTC price has been indecisive due to the presence of doji and spinning tops small body candles. The price movement has been slow due to the indecision of buyers and sellers.

On August 17, cryptocurrencies experienced a meltdown as altcoins fell back to previous lows. The worst-performing cryptocurrencies risk further declines if current support levels are breached. Cryptocurrencies will continue another round of downtrend.

Cardano (ADA) has fallen below the moving average lines as buyers failed to hold above the $0.60 resistance zone. After a three-month sideways move, buyers tried to break above $0.60 resistance but were rejected at the $0.58 high.

Litecoin (LTC) price is in a downward correction as it breaks below the moving average lines. The cryptocurrency plunged to a low of $53 as bulls bought the dips. The upward correction is in danger of failing at the 50-day line SMA.

Ripple (XRP) is falling back to its previous low after a failed upward correction.

Ethereum price (ETH) has started resuming selling pressure as bears are retesting the $1,523 support.

Bitcoin (BTC) price is in a downtrend while making an upward correction to the high of $21,800.

The price of Uniswap (UNI) is in a downtrend as the price falls below the moving average lines.

The price of Polkadot (DOT) has resumed its downtrend as the price falls below the moving average lines.