The cryptocurrency market continues to perform well in the last trading days of August 2021, Bitcoin has stabilized above $48000 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 big investors, and according to the latest news, Coinbase will invest $500 million into Bitcoin, Ethereum, and other crypto-assets.
Morgan Stanley also recently announced that its investments funds have acquired over 6.5 million shares in Grayscale Bitcoin Trust (GBTC), while another positive news is that Allied Market Research reported that the global cryptocurrency market would hit $4.94 billion by 2030.
Florian Grummes, the managing director of investment advisory firm Midas Touch Consulting, said that he believes the price of Bitcoin will surge to $100,000 in the near future. Solana, Cosmos (ATOM), and Litecoin could be some of September’s best performers if this positive trend continues.
“Crypto’s latest swings are a sign that Bitcoin miners are back in business after a recent Chinese crackdown. At the same time, there is continued evidence of more mainstream acceptance, and corporations should consider adding Bitcoin to their balance sheets, said Superstar investment manager Cathie Wood.
Solana (SOL) could advance above $100 resistance in the positive trend continuesSolana has been one of the strongest performers this August, and there is no sign of a positive trend reversal for now. Solana could advance even more in the ongoing bull market, and if the price jumps above $100 resistance, the next price target could be around $110 or even above.
Data source: tradingview.com On the other side, if the price falls below $80, it would be a firm “sell” signal, and we have the open way to the $60 support level.
Cosmos (ATOM) could stabilize again above the $30 resistanceCosmos (ATOM) price has advanced from $12.6 above $24 since the beginning of August 2021, and the current price stands around $21.
Data source: tradingview.com If the price jumps above $26, it would be a signal to trade ATOM, and the next price target could be around $30. On the other side, if the price falls below $18 support, it would be a firm “sell” signal we have the open way to $16 or even $15.
Litecoin (LTC) continues to trade above $170Litecoin’s price has advanced from $144 above $190 since the beginning of August 2021, and the current price stands around $174.
Data source: tradingview.com If the price jumps again above $190, it would be a signal to trade Litecoin, and the next price target could be around $200. The critical support level stands around $160, and if the price breaks it, that would be a strong sell signal.
SummaryAugust has been a very positive month for the cryptocurrency market so far, Bitcoin has stabilized above $48000 support, and this situation also supports the price of Solana (SOL), Cosmos (ATOM), and Litecoin (LTC). The cryptocurrency market continues to attract big investors, and according to the latest news, Coinbase will invest $500 million into Bitcoin, Ethereum, and other crypto-assets.
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