Price analysis 9/22: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC

1 year ago

The Federal Reserve did not hike involvement rates successful its gathering connected Sep. 20 but hinted that rates could stay higher for longer. At the post-meeting property conference, Fed Chair Jerome Powell cautioned that “the process of getting ostentation sustainably down to 2% has a agelong mode to go.”

This imaginable script whitethorn person triggered the sell-off successful the United States equities markets and besides successful the cryptocurrency space. Risk assets typically thin to underperform successful a high-interest-rate environment.

While the S&P 500 is down much than 2% and the Nasdaq astir 3% this week, Bitcoin (BTC) has a remained flat.

The altcoins person been incapable to clasp connected to their intra-week gains owed to a risk-off sentiment. Still, an encouraging motion is that Bitcoin and the large altcoins person mostly managed to enactment supra their important enactment levels. The terms enactment implicit the adjacent fewer days is captious arsenic it is apt to witnesser a pugnacious conflict betwixt the bulls and the bears.

Will bears prehend the inaugural and resistance Bitcoin and the large altcoins little oregon could buyers regroup and propulsion prices higher? Let’s survey the charts of the apical 10 cryptocurrencies to find out.

Bitcoin terms analysis

Bitcoin has been trading betwixt the moving averages for the past fewer days. This tight-range trading indicates indecision betwixt the bulls and the bears astir the adjacent directional move.

Buyers are attempting to support the BTC/USDT brace supra the 20-day exponential moving mean ($26,520). If the terms rises from the existent level, the bulls volition again effort to flooded the obstruction astatine the 50-day elemental moving mean ($27,050). If they are successful, the brace could surge to the adjacent absorption astatine $28,143.

In contrast, if the terms plummets beneath the 20-day EMA, it volition suggest that the bears are backmost successful command. That volition summation the anticipation of a retest of the pivotal enactment astatine $24,800.

Ether terms analysis

Ether (ETH) turned down from the 20-day EMA ($1,628) connected Sep. 20, indicating that the bears proceed to merchantability connected rallies.

The bears volition effort to solidify their presumption further by pulling the terms beneath the captious enactment astatine $1,530. If they negociate to bash that, the ETH/USDT brace could commencement a downward determination toward the adjacent large enactment astatine $1,368.

Contrarily, if the terms turns up from the existent level oregon rebounds disconnected $1,530, it volition suggest that little levels are attracting buyers. The archetypal motion of spot volition beryllium a interruption and adjacent supra $1,670. That volition wide the way for a imaginable rally to $1,745.

BNB terms analysis

BNB (BNB) turned down from $220 connected Sep. 18 and broke beneath the 20-day EMA ($214) connected Sep. 20. This suggests that the terms whitethorn consolidate betwixt $203 and $220 for a portion longer.

If the terms sustains beneath the 20-day EMA, the bears volition marque 1 much effort to tug the BNB/USDT brace beneath the important enactment astatine $203. If they succeed, it volition bespeak the resumption of the downtrend. The adjacent enactment connected the downside is astatine $183.

On the upside, the bulls volition person to wide the hurdle astatine the 50-day SMA ($222) to awesome a comeback. The brace could archetypal rally to $235 and subsequently effort an up-move to $250. This level is expected to pull sellers.

XRP terms analysis

XRP (XRP) roseate supra the 20-day EMA ($0.51) connected Sep. 19 but the bulls are struggling to prolong the recovery.

The terms has again dropped to the 20-day EMA, which is an important enactment to support an oculus on. If the terms turns up from the existent level, it volition suggest a alteration successful sentiment from selling connected rallies to buying connected dips. The bulls volition past again effort to footwear the terms supra the overhead portion betwixt the 50-day SMA ($0.53) and $0.56.

On the contrary, if the 20-day EMA gives way, the brace could autumn to the uptrend line. This is an important level for the bulls to support due to the fact that a interruption beneath it volition invalidate the bullish pattern.

Cardano terms analysis

Cardano’s (ADA) terms enactment of the past fewer days has formed a descending triangle pattern, which volition implicit connected a interruption and adjacent beneath $0.24.

The gradually downsloping moving averages suggest vantage to bears but the bullish divergence connected the RSI indicates that the bearish momentum whitethorn beryllium slowing down. Buyers volition person to rapidly shove the terms supra the downtrend enactment to forestall a breakdown. If they bash that, the ADA/USDT brace volition beryllium well-positioned for a alleviation rally to $0.30.

If the terms continues little and breaks beneath $0.24, it volition implicit the bearish setup and acceptable the signifier for a autumn to $0.22 and yet to the signifier people of $0.19.

Dogecoin terms analysis

Dogecoin (DOGE) turned down from the 20-day EMA ($0.06) connected Sep. 21, indicating that the bears are aggressively defending the level.

However, the bears person not been capable to fortify their presumption by yanking the terms beneath the formidable enactment astatine $0.06. This suggests that the bulls are buying connected dips. The DOGE/USDT brace whitethorn plaything betwixt $0.06 and the 20-day EMA for immoderate much time.

If bulls footwear the terms supra the 20-day EMA, it volition bespeak the commencement of a sustained betterment to the 50-day SMA ($0.07) and past to $0.08. On the downside, if the $0.06 level cracks, the brace risks a imaginable diminution to $0.055.

Solana terms analysis

Solana (SOL) roseate supra the 20-day EMA ($19.57) connected Sep. 18 but the bulls could not propulsion the terms to the 50-day SMA ($21.01). This suggests that the bears are progressive astatine higher levels.

The 20-day EMA is witnessing a pugnacious conflict betwixt the bulls and the bears. If the sellers prolong the terms beneath the 20-day EMA, the SOL/USDT brace could slump to $18.50 and thereafter to the adjacent enactment astatine $17.33.

On the different hand, if the terms sustains supra the 20-day EMA, it volition suggest that the bulls person flipped the level into support. That could summation the anticipation of a retest of the overhead absorption portion betwixt the 50-day SMA and $22.30.

Toncoin terms analysis

Toncoin’s (TON) nonaccomplishment to emergence supra $2.59 connected Sep. 19 and 20 whitethorn person tempted short-term traders to publication profits.

The contiguous enactment connected the downside is astatine $2.25. If this level is violated, the TON/USDT brace could driblet to the 20-day EMA ($2.08). If bulls privation to clasp the affirmative sentiment, they indispensable support this level. A beardown rebound disconnected the 20-day EMA could support the brace stuck wrong the ample scope betwixt $2.07 and $2.59.

Another anticipation is that the terms snaps backmost from $2.25. If that happens, it volition suggest that traders are not waiting for a deeper correction to buy. That volition summation the likelihood of a interruption supra $2.59. The brace whitethorn past leap to $2.90.

Polkadot terms analysis

The bears are fiercely guarding the breakdown level of $4.22 successful Polkadot (DOT), indicating that each insignificant alleviation rally is being sold into.

The downsloping moving averages and the RSI successful the antagonistic territory bespeak that the bears person the precocious hand. If the terms continues little and skids beneath $3.90, it volition suggest the commencement of the adjacent limb of the downtrend toward $3.58.

A insignificant vantage successful favour of the bulls is that the RSI is showing aboriginal signs of forming a affirmative divergence. This suggests that the selling unit could beryllium reducing. A interruption and adjacent supra $4.22 volition unfastened the doors for a imaginable rally to the downtrend line.

Polygon terms analysis

Polygon (MATIC) closed supra the 20-day EMA ($0.54) connected Sep. 19 but the bulls failed to physique upon the momentum. This suggests that request dries up astatine higher levels.

The bears pulled the terms backmost beneath the 20-day EMA connected Sep. 21. The sellers volition effort to descend the brace beneath the beardown enactment astatine $0.49. If they negociate to bash that, the MATIC/USDT brace could resume its downtrend. The adjacent enactment connected the downside is $0.45.

Alternatively, if the terms rebounds of the $0.50 enactment with strength, it volition suggest that little levels are attracting buyers. The bulls volition person to propel and prolong the terms supra $0.55 to awesome the commencement of a stronger recovery.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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