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Price analysis for August 30th: BTC, ETH, ADA, BNB & XRP

Bitcoin and major altcoins are facing selling at overhead resistance levels, which means that the next stage of the uptrend will have to wait.

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Bitcoin and major altcoins are facing selling at overhead resistance levels, which means that the next stage of the uptrend will have to wait.

BTC/USDT

The bulls once again were unsuccessful in pushing the price above the overhead resistance at $50,000 suggesting that bears are defending the level aggressively. Bitcoin formed a Doji candlestick pattern on the 29th, which has committed to the downside today. If bears pull the price below the 200-day simple moving average ($46,065), the BTC/USDT pair could drop to the next support at $42,451.67.

ETH/USDT

Ether once again turned down from the overhead resistance zone at $3,335 to $3,377.89. This indicates that the bears are defending the overhead zone. The bulls however haven’t surrendered and are defending the 20-day exponential moving average ($3,139) as seen from the solid rebound today. If bulls push the price above the overhead zone, the ETH/USDT pair may resume its uptrend with a target objective at $3,670.

ADA/USDT

ADA turned down from $2.95 suggesting that bears are aggressively defending the overhead resistance at $2.97. That was followed by a Doji candlestick pattern indicating a indecision among the bulls and the bears. The uncertainty has extended today with the formation of the inside-day candlestick pattern. If sellers sink the ADA/USDT pair below the intraday low at $2.71, the pair may again drop to the breakout level at $2.47. A strong rebound off this level may keep the pair range-bound between $2.47 and $2.97 for a few days.

BNB/USDT

The failure of the bulls to push and sustain Binance Coin above the May 19 intraday high at $516.50 may have attracted profit-booking from short-term traders. The altcoin has turned down and it may now drop to the breakout level at $433. The bulls are likely to aggressively defend the support zone between the 20-day EMA ($445) and the breakout level at $433.

XRP/USDT

XRP rebounded off the $1.07 support but the bulls could not push the price to the downtrend line. This suggests that demand dries up at higher levels. The bears are currently attempting to sink the price to the critical support at $1.07.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Crypto News. Every investment and trading move involves risk. The reader should conduct their own research when making a decision.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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