As this article was prepared, the Bitcoin 
$91,081 price fell below $110,000, approaching the $108,000 level. No significant developments occurred today that could trigger such a decrease in cryptocurrencies. However, after repeatedly violating the $112,500 support level, this scenario unfolded. This week, crucial data will be released, determining whether this decline is temporary. What are the forecasts for BNB, ETH, ADA, and XRP?
ETH and XRP Analysis
With days left until the monthly closure, beginning closures below $112,500 is concerning, and a daily candle closure is approaching in about three hours. If this also closes below $112,500, a further decline in BTC is possible. The speed of sales at the $108,000 support will be crucial during the daily close and the subsequent Asian market opening.
Although President Trump threatened a 200% tax due to the magnet issue despite ongoing talks with China, such actions are not uncommon. The Federal Reserve’s policy shift and the expectation of clarity within two weeks about relations with Russia suggested that such scenarios might not occur shortly.
The markets might be factoring in fear of declining Consumer Confidence data expected later and a higher-than-expected increase in PCE data to be released on August 29. The forecast for PCE is a 2.9% increase compared to the previous 2.8%. However, Fed Chair Powell hinted last Friday that such an increase is tolerable, which led to a rise in prices.
Earlier, ETH struggled with the $5,000 level, and at the time of writing, it reflected the opposite of last Friday’s candle. The daily candle is significant, indicating enormous sales. If the price drops below $4,320, we might see lower wicks reaching $4,084.
The ETHBTC pair, close to 0.044, is likely to plunge to the 0.038 support. If the 0.038 area holds, there is still hope, even as BTC slides to $108,000. A closure below this could enlarge losses for altcoins.
Martinez warned hours ago about a pullback to 2.7, and this was shared. Closures below $2.82 could lead to lower wicks extending to $2.74 and $2.57. Despite this, XRP remains relatively strong after repeated tests of the $2.28 level.
BNB and ADA Analysis
On August 25, a $1 billion reserve announcement was made and was to be implemented before the end of the month. BNB Coin, which tested new ATH levels, quickly reversed its direction. The $824 support is crucial for investors on their ATH journey. Closing and dipping below this could create larger lower wicks between $785 and $730.
ADA Coin, which did not achieve incredible gains, has now lost the 0.844 level tested in the last drop. This suggests we might see new lows in the 0.76 and 0.695 dollar range.
BTC and altcoins are in an excellent position for a rebound. However, since the $108,000 test has been anticipated for a while, BTC may not pull back with such proximity. There was a significant liquidation of $889 million in the last 24 hours, which is substantial when combined with closing positions. ETH, with a $287 million liquidation, has disappointed bulls more than any other altcoin.
