
Bitcoin (Bitcoin) Finally broke through the resistance level of 50,500 USD and Ether (Ethereum) Has risen to more than $4,000. This shows that people are increasingly interested in cryptocurrencies, and several traditional financial companies are taking steps to meet this growing demand.
Franklin Templeton, one of the world’s largest independent asset management companies, has released New job application for middle and senior positions According to Linkedin’s recruitment information, in the field of crypto trading and research.
At the same time, in Japan, financial group SBI Holdings is planning to set up one of them The first domestic crypto fund By the end of November. SBI Director and Senior Management Executive Tomoya Asakura said that it will explore the launch of the second fund based on the success of the first fund.
Although cryptocurrency traders cheered the recent rise of several altcoins, JPMorgan Chase analysts warn their clients Altcoins rebound and non-fungible tokens (NFTs) are increasing.
Analysts said that the share of altcoins in crypto market transactions soared from 22% in early August to 33%, which is higher than historical standards. They believe that the reason is “bubble and retail investor fanaticism, not a reflection of a structural upward trend.”
Can Bitcoin stay above US$50,500 and resume its upward trend, or will altcoins remain the focus? Let’s study the charts of the top 10 cryptocurrencies to find out.
Table of Contents
Bitcoin/USD
The bears successfully defended the $50,500 resistance level on September 2, but they were unable to pull the price back and maintain it below the downtrend line. This may attract buying from the bulls, who today pushed Bitcoin to over $50,500.

If buyers maintain the price above US$50,500, the BTC/USDT pair may rebound to US$60,000. This level may once again become a strong resistance, but if the bulls can push the price above this level, the currency pair may challenge the all-time high of $64,854.
If the bulls push the Relative Strength Index (RSI) above the downtrend line, the negative divergence will fail. This, together with the upward sloping 20-day exponential moving average ($47,584), indicates that the path of least resistance is to the upside.
If the price falls from the current level and breaks below the 200-day simple moving average ($46,083), this bullish view will be invalidated. This may bring the price down to $42,451.67.
Ethereum/USDT
Ether recovered after breaking through US$3,377.89 and hitting the US$4,000 mark today. If the bulls maintain the price above this psychological level, the largest altcoin may challenge the all-time high of $4,372.72.

The upward sloping 20-day EMA ($3,344) and the RSI in the overbought zone indicate that the bulls are in control. If buyers push the price above US$4,372.72, the ETH/USDT pair may begin to move towards the critical level of US$5,000.
This may not be easy, because the bears may have other plans. They may form strong resistance in the USD 4,000 to USD 4,372.72 area. If the price drops from this area and breaks below 3,700 USD, the currency pair may fall to the 20-day moving average.
A strong rebound from this support level will indicate that market sentiment remains bullish. Then the buyer will try to resume the rise. Conversely, a breakout and closing below the 20-day moving average will be the first sign that bulls may lose control.
ADA/USDT
Cardano (Have) Broke through the $3 mark on September 2, but judging from the long wick on the candlestick that day, the bulls could not maintain a higher level. Although the price fell below $2.97 today, the bulls bought on dips and tried again to push the price above $3.

A breakout and closing above $3.10 will mark the resumption of the uptrend. The ADA/USDT currency pair may rebound to 3.50 US dollars. The 20-day moving average ($2.58) is good for the bulls, but the negative divergence of the RSI indicates that the bullish momentum may be weakening.
If the bulls fail to push the price above the upper resistance, the currency pair may fall to the 20-day moving average. This is an important level of bull defense. A strong rebound will indicate that market sentiment remains optimistic.
Conversely, a break below the 20-day moving average may pull the price to the breakout level of $2.47. A break of this support level may begin a deeper correction.
BNB/USDT
Binance Coin (Bitcoin) Has been trading between the 20-day moving average (456 USD) and the upper resistance at 518.90 USD. The long wick on the candlestick on September 2 indicates that the shorts have sold more than $500, but the positive sign is that the bulls have not given up too much.

Buyers will try again to push the price higher and maintain it above US$518.90. If they manage to do this, the BNB/USDT currency pair may gain momentum and rebound to $600. This psychological level may become resistance, but if the bulls break this barrier, the rebound may extend to $680.
Conversely, if the price falls from the upper resistance and breaks below the 20-day moving average, the currency pair may fall to $433. A break below this level will indicate that the bears have overwhelmed the bulls. Then the currency pair may fall to the 200-day moving average ($375).
Ripple/USDT
Bullish push Ripple Going above the downtrend line on September 2 invalidates the forming bearish descending triangle pattern. The bears tried today to pull the price down and maintain it below the downtrend line, but failed.

If the bulls maintain the price above the downtrend line, the XRP/USDT pair may rebound to $1.35. This level may act as resistance, and if the price falls from this level, the currency pair may trade between 1.05 USD and 1.35 USD within a few days.
The 20-day moving average ($1.15) rebounded and the RSI rose above 64, indicating that the bulls have the upper hand. Breaking through and closing above US$1.35 may clear the way for a rebound to US$1.66. The bears will have to pull the price below $1.05 to show that the price will make a comeback.
Sol/USDT
The bears tried to push the upward trend of Solana (SOL) to $130, but the bulls did not relax. Buyers do not allow the price to fall below the psychological support level of $100.

Buying orders resumed on September 2, and the bulls extended the SOL/USDT currency pair to today’s record high. Vertical rebounds are rarely sustainable, and they usually lead to sharp declines. An RSI above 88 also indicates that the currency pair is over-expanding in the short term.
If the price falls from the current level or $150, the first support is at the 38.2% Fibonacci retracement level of $115.75.
A strong rebound from this level will indicate strength and increase the possibility of breaking through $150. The next upside target is $166.97. Conversely, a break below $115.75 may pull the price down to the 50% retracement level of $106.29.
Dogecoin/USDT
Dogecoin (dog) Broke the 20-day moving average ($0.28) on September 1, and the bulls pushed the price above the downward trend line of the falling wedge on September 2. However, the long wick on the candlestick of the day indicates that the bears are selling levels at higher prices.

The DOGE/USDT currency pair has rebounded from the 20-day moving average, and the bulls have pushed the price above the wedge. If the buyer maintains the price above US$0.31, the currency pair may rebound to US$0.35. This level is likely to be a strong resistance.
If the price drops from $0.35, the currency pair may fall to the 20-day moving average again. Its strong rebound will indicate that market sentiment is positive. A break and close above US$0.35 may clear the way for a rise to US$0.45.
On the other hand, if the price falls and breaks below the 20-day moving average, the currency pair may fall to the wedge-shaped support line.
DOT / USDT
polka dot(point) It has remained above the breakthrough level of 28.60 USD for the past three days, indicating that a new upward trend has begun. The rising moving average and the RSI in the overbought zone indicate that it is beneficial to buyers.

If the bulls push the price above US$33.84, the DOT/USDT currency pair may start to move northward to US$41.40, and then reach the pattern target of US$46.83.
On the other hand, if the price falls back from the current level, the price may retest the breakout level of $28.60. If the bulls turn this level into a support level, it may become a springboard for the next round of gains.
Breaking and closing below the 20-day moving average ($27.12) will be the first sign that the current breakout may be a bull trap.
related: How to prepare for the end of the bull market, Part 1: Timing
UNI / USDT
Uniswap’s (United Nations University) The fall from $31.41 on September 2 indicates that the bears have not given up yet. The price action in the past few days has formed a negative divergence from the RSI, indicating that the bullish momentum may be weakening.

If the price rebounds from the 20-day moving average (27.91 USD), the bulls will try again to push the UNI/USDT currency pair above the upper resistance of 31.41 USD. If they succeed, the currency pair may start to rise to $37.52 and then to $42.25.
Or, if the bears push the price below the moving average, the currency pair may fall to $25 and remain range-bound for a few days. A break and close below the $25 to $23.45 support zone will indicate that the bears are back in the game.
Link/USDT
Chain link (Associate) It has been fluctuating between US$24 and US$30 in the past few days. The bulls pushed the price above the upper resistance on September 2, but they were unable to maintain higher levels.

The bulls bought on dips again today and pushed the price above the upper resistance. If buyers maintain the price above US$30, the LINK/USDT currency pair may rebound to US$36. If it exceeds that level, the rise may reach US$43.50, which is the intraday high on May 19.
The 20-day moving average (US$26.99) started to rise, and the RSI was in the positive zone, indicating that buyers have the upper hand. Contrary to this assumption, if the price falls and breaks below $30, it indicates that range fluctuations may continue for several days.
The views and opinions expressed here only represent the views of the author and do not necessarily reflect the views of Cointelegraph. Every investment and transaction involves risks. When making a decision, you should conduct your own research.
Market data by Bitcoin exchange.