BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA


Bitcoin (Bitcoin) The recovery is facing strong resistance near USD 48,500, indicating that bears are active at a higher level.

Analyst William Clemente predicts that by combining popular stock-to-flow Bitcoin price models and illiquid supply data $39,000 as a strong bottom line In any drop.

On the bright side, analysts are still bullish. Mike McGlone, the chief analyst of Bloomberg Intelligence, maintained his goal of $100,000 for Bitcoin. McGonlong said that many different charts emphasize the bullish potential of Bitcoin.

Daily cryptocurrency market performance. source: Coin 360

Like Bitcoin, Ethereum (ETH) is also showing signs of increasing holdings.According to crypto analysis provider IntoTheBlock USD 1.2 billion worth of ether was withdrawn Within 24 hours of the centralized exchange on September 16. After a similar incident occurred in April, Ether rose by about 60% within 30 days.

Can the first two cryptocurrencies fulfill their bullish forecasts, or will the crypto market fall unexpectedly? Let’s study the charts of the top 10 cryptocurrencies to find out.

Bitcoin/USD

The bulls are trying to maintain Bitcoin above the 20-day exponential moving average ($47,291), while the bears are trying to pull the price down. The 20-day moving average is flattening out, and the Relative Strength Index (RSI) is close to the midpoint, indicating that there will be range fluctuations in the short term.

BTC/USDT daily chart. Source: TradingView

If the bears push the price below the moving average, the BTC/USDT pair may fall to the key support level of $42,451.67. A rebound from this level would indicate that the bulls are accumulating on dips. This may extend the integration between US$42,451.67 and US$52,920 for a few more days.

Conversely, if the price rebounds from the current level or the 50-day simple moving average ($46,256), the bulls will try to push the currency pair to $50,500 and then to $52,920. The bears may actively defend this resistance zone.

After the bulls push the price above $52,920 or the bears pull the price below $42,451.67, the next major trend may begin.

Ethereum/USDT

Ether (Ethereum) The recovery is facing strong resistance at the 61.8% Fibonacci retracement level of $3,637.14, indicating that it is selling at a higher level. The bears are trying to bring the price back below the support level of $3,377.89.

ETH/USDT daily chart. Source: TradingView

If they succeed, ETH/USDT may fall to the 50-day moving average ($3,238) and then to the key support level of $3,000. Such a move may lead to the formation of a head and shoulders pattern, which will complete at the breakout and close below $3,000.

If the price rebounds from the support level of $3,377.89 or the 50-day moving average and breaks through $3,676.28, this negative view will be invalidated. The currency pair can then retest the local high of 4,027.88 USD.

The flat 20-day EMA and the RSI slightly above the midpoint do not indicate that the bulls or bears have a clear advantage.

ADA/USDT

Cardano (Have) A retreat from the 20-day moving average ($2.52) on September 16 indicates that the bears are selling when they rebound to this resistance level. The bears are currently trying to pull the price to the 50-day moving average ($2.25).

ADA/USDT daily chart. Source: TradingView

The downward sloping 20-day EMA and negative zone RSI indicate that bears are in a dominant position. If the price stays below the 50-day moving average, the ADA/USDT pair may fall to the next support level of $1.94.

Such a deep correction will indicate that a short-term top has been formed. If the bulls want to save the upward trend, they will have to push the price higher and maintain it above the 20-day moving average. If they do, the currency pair may rise again to $2.80 and then to $2.97.

BNB/USDT

The bulls failed to push Binance Coin (Bitcoin) It is above the 20-day moving average ($432) in the past two days, indicating that buying has dried up at a higher level. This may attract short-term traders who bought at a lower level to take profits, and it is expected that the rise will resume.

Daily chart of BNB/USDT. Source: TradingView

The 20-day moving average is sloping downward, and the RSI has turned downward from the midpoint, indicating that the seller has an advantage. If the price stays below the 50-day moving average, the BNB/USDT pair may fall to the next major support at $340.

If the bulls push the price higher and maintain it above the 20-day moving average, this negative perception will be invalid. Such a move will show that the bulls have absorbed the supply. Then the currency pair may rise to the upper resistance level of 518.90 USD.

Ripple/USDT

Ripple The fall from the 20-day moving average ($1.12) on September 16 indicates that the bears are actively defending this level. The downward sloping 20-day EMA and negative zone RSI indicate that the path of least resistance is to the downside.

XRP/USDT daily chart. Source: TradingView

If the bears maintain the price below the 50-day moving average, the XRP/USDT pair may retest the intraday low of $0.95 on September 7. A break and close below this support level will open the door for further correction to $0.75.

If the price rebounds from the current level or from $0.95, the bulls will try again to push the price above the 20-day moving average. If they succeed, it means that the amendment may have ended. Then the currency pair may begin to march northward to $1.35.

Sol/USDT

Solana (SOL) rebounded from the 20-day moving average ($145) on September 14 and eventually fell to $166.50, as shorts continued to flood relief rallies. Today the price has fallen below the 20-day moving average, indicating weakness.

SOL/USDT daily chart. Source: TradingView

The flattening 20-day EMA and the RSI slightly above the midpoint indicate that the bulls have lost control. If the bears maintain the price below the 20-day moving average, the SOL/USDT currency pair may fall to the 61.8% Fibonacci retracement level of $123.42.

This is an important support that needs attention, because if it breaks, the currency pair may fall to the psychological support of $100.

Conversely, if the price rebounds from current levels or rebounds from $123.42, the bulls will try to resume the upward trend. The rise may face strong resistance near 170 USD and then 200 USD.

DOT / USDT

polka dot(point) Fell from the resistance line on September 15 and fell to close to the 20-day moving average ($32.04) today. This is an important level that the bulls need to defend, because a break below this level may pull the price down to the 50-day moving average ($26.36).

DOT/USDT daily chart. Source: TradingView

Despite the upward sloping moving average, the negative divergence of the RSI warns that the bullish momentum may be slowing. A break and close below the 50-day moving average may indicate the beginning of a deeper correction.

Contrary to this assumption, if the price rebounds from the 20-day EMA, the bulls will try again to push the DOT/USDT pair above the resistance line. If they manage to do this, the currency pair may gain momentum and rebound to $41.40, then retest the all-time high of $49.78.

related: The analyst predicts that the Bitcoin price trend in the fourth quarter will be “explosive”, and the next stop for Bitcoin is 85,000 US dollars

Dogecoin/USDT

Although Dogecoin (dog) It has been below the moving average for the past few days, and the bears have not been able to drop the price to the direct support level of $0.21. This indicates the lack of lower-level sellers.

DOGE/USDT daily chart. Source: TradingView

Today the bulls are trying to push the price above the moving average, but the bears are not in a relaxed mood. The downward sloping 20-day EMA ($0.26) and RSI below 42 indicate that sellers have the upper hand.

If the shorts push the price below US$0.21, the DOGE/USDT currency pair may extend its decline to US$0.15. Or, if the bulls push the price above the moving average, the currency pair may rise to the downtrend line.

Breaking and closing above this resistance level will be the first sign that the correction may end. Then, the currency pair can start moving towards the upper resistance level of $0.45.

UNI / USDT

Uniswap (United Nations University) Surged above the moving average on September 15, but the bulls were unable to push the price above the downtrend line. This may attract short-term long profit taking and aggressive short short selling.

UNI/USDT daily chart. Source: TradingView

A flat 20-day EMA ($25.72) and an RSI slightly below 50 indicate that the bears have a marginal advantage. If the price stays below US$25, the bears will try to pull the UNI/USDT currency pair to US$23.50 and then to US$21. If the support breaks, it indicates the beginning of a deeper correction.

Conversely, if the price rebounds from the current level or $23.50, the bulls will try again to push the price above the downtrend line. If they succeed, the currency pair may rise to the upper resistance at 31.41 USD.

Moon/USDT

The LUNA token of the Terra protocol rose to $39.77 on September 16, but could not maintain the high level seen from the long wick on the candlestick that day. This indicates that traders may close long positions when they rise.

LUNA/USDT daily chart. Source: TradingView

The bears will now try to seize the opportunity to push the price below the 20-day exponential moving average ($33.97). If they manage to do this, the LUNA/USDT currency pair may fall to the 50-day moving average (26.26 USD).

Or, if the price rebounds from the 20-day moving average again, the currency pair may rise to $40 and remain range-bound between these two levels for a few days. A break and close above $40 may open the door for a retest of the all-time high of $45.01.

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Market data by Bitcoin exchange.