Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, August 24

Barring a dip on August 14, the total market capitalization of the cryptocurrencies has held above the $200 billion mark.

The bulls broke out of the descending triangle pattern in the end of July, but they could not sustain the higher levels and the price again slumped back into the triangle.

If the bulls fail to break out of $7,000 next time, we recommend closing the position because we might get an opportunity to buy again at lower levels.

The XRP/USD pair will show some signs of strength if the bulls scale above the 20-day EMA, the downtrend line 2 and the 50-day SMA. The trend will change after the price breaks out of the downtrend line 1.

BCH/USD Bitcoin Cash has been trying to cling on to the $500 level for the past ten days, but the buying keeps drying up above the $600 mark.

On the downside, if the bears break below $500, a retest of the August 14 lows will be on the cards.

XLM/USD Stellar has not broken down convincingly of the $0.184 level since mid-December of last year.

LTC/USD The bulls are trying to arrest the decline on Litecoin.

We shall turn positive after the price sustains above the 50-day SMA. XMR/USD Though Monero is in a downtrend, it has reached the critical support around $81, which had held from August 23 to November 6 of last year, before the uptrend started.

The break down from the range gives it a pattern target of $0.3506, with a minor support at the August 14 low of $0.4037.