Bitcoin is down about 11% in August,

Dogecoin price analysis

Dogecoin (DOGE) has been trading between the strong support at $0.06 and the 20-day EMA ($0.07) for the past few days.

DOGE/USDT daily chart. Source: TradingView

The 20-day EMA is sloping down and the RSI is in the negative territory, indicating that the bears have the edge. Sellers will try to sink the price below $0.06 and further strengthen their position.

Time is running out for the bulls. If they want to start a recovery, they will have to quickly drive the price above the 20-day EMA. If they do that, the DOGE/USDT pair could rally to the 50-day SMA ($0.07) and thereafter jump to $0.08.

Solana price analysis

Solana (SOL) has been gradually drifting lower, indicating that the bears are pouncing on every minor relief rally.

SOL/USDT daily chart. Source: TradingView

The SOL/USDT pair could drop to the Aug. 22 intraday low of $19.35. If this level caves in, the selling could intensify and the pair may dive to $18 and eventually to the next major support at $15.60.

Contrary to this assumption, if the price turns up and breaks above $22.30, it will indicate solid buying at lower levels. The pair may first rise to the 50-day SMA ($23.61) and thereafter to the strong resistance at $26.

Polkadot price analysis

The bulls are trying to shove Polkadot (DOT) above the overhead resistance at the 20-day EMA ($4.64), but they are likely to encounter stiff resistance from the bears.

DOT/USDT daily chart. Source: TradingView

If the price turns down from the 20-day EMA, it will suggest that the sentiment remains negative and traders are selling on rallies. That could increase the likelihood of a retest of the crucial support at $4.22. If this support crumbles, the DOT/USDT pair may collapse to $4 and later to $3.88.

On the other hand, if buyers kick the price above the 20-day EMA, it will suggest the start of a stronger relief rally to the breakdown level of $5. This level could attract selling by the bears.