The cryptocurrency market continues to do well in the last few days of trading in August 2021, Bitcoin has stabilized above the USD 48,000 support, and this situation also supports the price of Solana SOL / USD, Cosmos ATOM / USD and Litecoin LTC / USD. The cryptocurrency market continues to attract large investors, and according to the latest news, Coinbase is set to invest $ 500 million in Bitcoin, Ethereum, and other crypto assets.

Morgan Stanley also recently announced that its mutual funds have purchased over 6.5 million shares of the Grayscale Bitcoin Trust (GBTC), while more positive news is that Allied Market Research reported that the global cryptocurrency market would grow to US $ 4.94 billion by 2030 -Dollars would reach.

Are you looking for fast news, hot tips and market analyzes? Sign up for the Invezz newsletter today.

Florian Grummes, the executive director of investment advisory firm Midas Touch Consulting, said he believes the price of Bitcoin will soar to $ 100,000 in the near future. Solana, Cosmos (ATOM) and Litecoin could be some of the top performers this September if this positive trend continues.

“The recent swings in crypto are a sign that bitcoin miners are back in business after a recent Chinese crackdown. At the same time, there is ongoing evidence of greater mainstream adoption and companies should consider adding Bitcoin to their balance sheets, superstar investment manager Cathie Wood said.

Solana (SOL) could advance above the $ 100 resistance, the positive trend continues

Solana was one of the strongest performers this August, and there are no signs of a positive turnaround for now. Solana could move further in the ongoing bull market, and if the price bounces above the $ 100 resistance, the next price target could be at $ 110 or even above.

Data source: tradingview.com

On the other hand, if the price falls below $ 80 it would be a firm “sell signal” and we have the road open to the support level of $ 60.

Kosmos (ATOM) could stabilize again above the USD 30 resistance

The price of Cosmos (ATOM) has increased from $ 12.6 to $ 24 since early August 2021, and the current price is around $ 21.

Data source: tradingview.com

If the price jumps above $ 26 it would be a signal to start trading ATOM and the next price target could be at $ 30. On the flip side, if the price falls below the $ 18 support it would be a clear “sell signal” that we have the way to $ 16 or even $ 15.

Litecoin (LTC) continues to trade above $ 170

The price of Litecoin has increased from $ 144 to $ 190 since early August 2021, and the current price is around $ 174.

Data source: tradingview.com

If the price bounces back above $ 190 it would be a signal to start trading Litecoin and the next price target could be around $ 200. The critical support level is around $ 160 and if the price breaks it it would be a strong sell signal.

summary

August has been a very positive month so far for the cryptocurrency market, Bitcoin has stabilized above the USD 48,000 support, and this situation also supports the price of Solana (SOL), Cosmos (ATOM) and Litecoin (LTC). The cryptocurrency market continues to attract large investors, and according to the latest news, Coinbase is set to invest $ 500 million in Bitcoin, Ethereum, and other crypto assets.

Where can you buy now

To make investing easy and hassle-free, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognized worldwide and safe to use:

  1. toro, trusted by over 13 million users worldwide. Register here>
  2. Capital.com, simple, easy to use and regulate. Register here>

LEAVE A REPLY

Please enter your comment!
Please enter your name here