Ethereum, MATIC, Dogecoin Price Analysis: 20 August
Bitcoin reclaimed the $47k mark, while Ethereum traded above $3,200 after rising by 7.4%. Altcoins such as MATIC and Dogecoin moved north on their respective charts too.
MATIC prepared to touch the $1.53 resistance line while Dogecoin was about to break above its immediate $0.320 price ceiling.
Ethereum [ETH]
Ethereum surged by 7.4% over the last 24 hours and was eyeing the $3322.80 level at press time. At its press time price level, Ethereum stood at a multi-month high. If the coin manages to sustain the uptrend, it might test the aforementioned price ceiling for the third time in a month.
The Awesome Oscillator registered the onset of bullish price action with green signal bars above the half-line. The indicator also flashed a buy signal. Correspondingly, the MACD also displayed growing green histograms.
The Bollinger Bands remained parallel – A sign of range-bound price movement.
In case the value of ETH depreciates, the support levels to look out for would be $2977.68 and $2724.05.
MATIC
MATIC pictured strong bullish price action as it hiked by 14.5% over the last 24 hours. It was priced at $1.49 as it attempted to retest the $1.53 resistance.
The Awesome Oscillator flashed green signal bars indicating an uptrend. The MACD displayed green histograms after a bullish crossover.
The Relative Strength Index noted an uptick after MATIC received a buy signal. The indicator was spotted near the 50-mark, inside the bullish territory.
On the flip side, if MATIC touches the $1.28 support line, it would invalidate the bullish view.
Dogecoin [DOGE]
Dogecoin hiked by 6.3% over the last 24 hours. Valued at $0.319, the coin was trading close to immediate resistance of $0.320. If the alt maintains its uptrend, it could attempt to retest the $0.340 price ceiling.
Dogecoin registered a buy signal on the Awesome Oscillator as the indicator noted the onset of bullish price action. In accordance with the same, the MACD also flashed the beginning of an uptrend with green histograms.
Conversely, the Chaikin Money Flow remained below the half-line and additionally noted a dip in capital inflows.
A price reversal could cause Dogecoin to rest at $0.273 and then, the $0.240 support level.
