Price analysis 8/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC

cointelegraph.com:

The United States equities markets are attempting to stabilize after the carnage on Aug. 26. On similar lines, Bitcoin (BTC) is also witnessing a see-saw battle near the psychological level of $20,000 with both the bulls and the bears vying for supremacy. 

Although several analysts are bearish on Bitcoin in the near term, it has not stopped the whales from accumulating at lower levels. Data from on-chain research firm Santiment shows that the number of whale addresses holding between 100 to 10,000 Bitcoin has risen by 103 in the past 30 days.

In bear markets, rumors spread fast and could result in quick declines, but many times, the fears are unfounded. Mt. Gox creditors confirmed on Twitter that the rumor of a 137,000 Bitcoin dump spread on social media was false. The creditors said that the infrastructure needed to start the repayment was still notin place.

Could Bitcoin and major altcoins sustain the rebound? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin closed below the psychological level of $20,000 on Aug. 28 but the bears could not build upon their advantage. Buyers have pushed the price back above $20,000 on Aug. 29, which shows strong demand at lower levels.

The BTC/USDT pair could rise to the 20-day exponential moving average (EMA) ($21,620), which is an important level to keep an eye on. If bulls push the price above this resistance, it could signal that the bearish momentum is weakening. A break and close above the moving averages could open the doors for a possible rally to $25,211.

Alternatively, if the price turns down from the downtrend line or the moving averages, it will suggest that bears are selling on every minor rise. The pair could then decline to the strong support zone of