August 7 Cryptocurrency Technical Analysis: Full Analysis of BTC, ETH, XRP, SOL, DOGE Trends

As Bitcoin (BTC) continues to fluctuate between $112,000 and $115,720, the market enters a critical moment of range-bound trading. Mainstream altcoins such as ETH, XRP, SOL, DOGE, ADA, HYPE, XLM, and SUI have recently come under pressure, with speculative enthusiasm cooling down, leading the market into a phase of accumulation and wait-and-see. Macroeconomic factors and ETF fund inflows have become potential catalysts, and the technical trends in the coming days will determine the direction of the next market cycle. This article combines the latest technical charts to comprehensively analyze the short-term trends and key price levels of nine major Crypto Assets.

BTC: range-bound, breakout or dip imminent

Bitcoin bounced from the 50-day SMA ($112,619), with clear short-term bullish defense. If it can break through the 20-day moving average ($116,804), it is expected to challenge $120,000 and the historical high of $123,218. Conversely, if it falls below the 50-day SMA, it will test $105,000 and even $100,000, with weaker support at $110,530.

ETH: Range-bound in the pressure zone, breaking through 3,745 USD is key

Ethereum short-term bulls have not given up. If it can break through $3,745, it will be expected to target $3,940 and $4,094. If it falls below the Fibonacci support at $3,300, it will turn into a bearish pattern, looking down at $3,058.

XRP: Range-bound between moving averages, watch for 3.16 USD resistance

XRP rebounded at the 50-day SMA ($2.69), but the pressure at the 20-day SMA ($3.16) is evident. A breakout above $3.16 could target $3.33 and $3.66, while a drop below the 50-day SMA would look towards $2.40.

SOL: Testing the 50-day SMA, direction awaiting breakout

SOL retests the 50-day SMA ($162), with bulls and bears evenly matched. If it rebounds to $178 and breaks through $185, it will challenge the $209 resistance. If it drops below $155, it will further test $144 and $137.

DOGE: Remains range-bound, with $0.21 resistance to break through

DOGE holds the 50-day SMA (0.19 USD), but faces significant resistance at 0.21 USD. If it breaks through 0.21 USD, it will target 0.22 USD; otherwise, it may remain range-bound in the short-term. If it fails to hold 0.19 USD, it will test 0.17 USD and 0.14 USD.

ADA: range-bound, only bullish if it breaks 0.79 USD

ADA bounced at the 50-day SMA ($0.68), with clear resistance at $0.76. If it breaks above $0.79, it will challenge $0.86; if it drops below $0.68, it will look down to $0.56.

HYPE: Short-term selling pressure intensifies, $35.50 becomes key

HYPE encountered resistance at the 50-day SMA ($40.99), and the RSI is weakening. If it falls below $35.50, it will test $32. Bulls need to hold the channel support; otherwise, the pullback pressure will continue.

XLM: Short-term bias is weak, support at $0.34 awaits testing

XLM broke below the 20-day SMA ($0.42), with a short-term outlook targeting the 50-day SMA ($0.34). If it rebounds and breaks through $0.42, the pullback will end; if it falls below $0.34, it will test $0.29.

SUI: Downward pressure remains, $2.87 support is key

SUI has dropped to the 50-day SMA ($3.32), with the 20-day SMA ($3.75) trending down and the RSI weak. If it falls below $3.32, it will test $2.87 and $2.65. Bulls need to push above $3.75 for a chance to reverse the downturn.

Conclusion

On August 7th, the technical aspects of the nine major Crypto Assets are generally under pressure, and the market has entered a critical waiting period. Under the pump and range-bound of bulls and bears, key support and resistance levels will determine the direction of the next wave of market trends. Investors should closely monitor technical indicators and capital flows to seize the market turning points.