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

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 1
BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA

Bitcoin (BTC) is leading the recovery in the crypto sector, and the cryptocurrency briefly rebounded to $ 48,429 on September 15 before pulling back to test underlying support levels.

During a live stream at the SALT conference, Cathie Wood, CEO of Ark Invest, said that Bitcoin is the standard currency of the crypto space and could increase tenfold over the next five years.

Their forecast is based on the assumption that Bitcoin will find a place on the balance sheets of many companies and that institutional investors will increase their allocation to Bitcoin and other cryptocurrencies to around 5%.

Several old finance firms have recognized the growing demand for digital assets and are increasing their crypto offerings to meet that demand. Morgan Stanley recently set up a new crypto-focused research department “in recognition of the growing importance of cryptocurrencies and other digital assets in global markets.”

Daily performance of the cryptocurrency market. Source: Coin360

More positive news came from Fidelity Investments executives, who appear to have met several SEC officials and emphasized why an exchange-traded Bitcoin fund should be approved. Executives pointed to the increasing adoption of Bitcoin, the approval of similar funds in other countries, and the growing demand for digital assets.

Can Bitcoin and Altcoins sustain the current recovery? Let’s analyze the top 10 cryptocurrency charts to find out.

Table of Contents

BTC / USDT

The long tail of the September 13 candle shows that on dips near the critical support at $ 42,451.67, the bulls bought aggressively. Persistent buying by the bulls and possible short coverage by short-term bears pushed Bitcoin above the 20-day exponential moving average (EMA) ($ 47,195) on September 15th.

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 2BTC / USDT daily chart. Source: TradingView

If the bulls hold the price above the 20-day EMA, the BTC / USDT pair could move into the overhead resistance zone from $ 50,500 to $ 52,920.

The relative strength index (RSI) has jumped back into positive territory and the 20-day EMA has flattened out, signaling a small advantage to buyers. A breakout and close above the overhead zone signals the resumption of the uptrend.

However, bears are unlikely to throw in the towel easily. They will try to stop the upward movement in the overhead zone. If the price deviates from resistance, the pair could consolidate in a large range for a few more days.

The bears will have to slide and hold the price below $ 42,451.67 to get the upper hand.

ETH / USDT

The long tail of the September 13 candle shows that the bulls are aggressively defending the 50-day simple moving average ($ 3,189). Buyers pushed Ether (ETH) above the 20-day EMA ($ 3,430) on September 15, but could face strong resistance at $ 3,567.06.

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 3ETH / USDT daily chart. Source: TradingView

If the bulls break the overhead hurdle, the ETH / USDT pair could try again to move higher to $ 4,000. Alternatively, if the price goes down from $ 3,567.06, the pair may plunge to the 50-day SMA.

Such a move suggests the pair could stay in the range for a few days. The flat 20-day EMA and the RSI just above the middle indicate a slight advantage for buyers.

The bears must move lower and hold the price below the critical support at $ 3,000 to signal the start of a possible downward move.

ADA / USDT

Cardano (ADA) plunged below the breakout mark at $ 2.47 on September 13, but the bears were unable to bring the price down to the 50-day SMA ($ 2.21). This suggests that sales are drying up at lower levels.

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 4ADA / USDT daily chart. Source: TradingView

The ADA / USDT pair formed a doji candlestick pattern on Sept. 14, indicating indecision between bulls and bears. This uncertainty cleared to the upside on September 15th as buyers attempt to break the 20-day EMA (2.55) hurdle.

If the price breaks and closes above the 20-day EMA, the pair could move into the overhead resistance zone at $ 2.97 to $ 3.10.

On the contrary, if the price drops from the 20-day EMA, the bears will try again to lower the pair to the 50-day SMA. A break and close below this support indicates a possible turnaround.

BNB / USDT

The bears failed to take advantage of the breakthrough and closed below the 50-day SMA ($ 414) on September 13, indicating a buy at lower levels. The bulls are currently trying to push Binance Coin (BNB) above the 20-day EMA ($ 436).

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 5BNB / USDT daily chart. Source: TradingView

If the bulls manage to hold the price above the 20-day EMA, it suggests that the correction may be over. The BNB / USDT pair could then move all the way to the overhead resistance at $ 518.90. A break and close above this level will signal the resumption of the uptrend.

On the contrary, if the price drops from the 20-day EMA, it suggests that bears are selling due to recovery rallies. The bears will then make one more attempt to lower the pair to the nearest support at $ 340.

XRP / USDT

Ripple (XRP) bounced off the 50-day SMA ($ 1.05) on September 13, suggesting the bulls are defending that level. The altcoin could now climb to the 20-day EMA ($ 1.13) where the bears are likely to be a major challenge.

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 6XRP / USDT daily chart. Source: TradingView

The 20-day EMA is gradually falling and the RSI is just below the middle, suggesting a small advantage for the bears. A break and close below the 50-day SMA suggests the bears have overwhelmed the bulls. The selling could strengthen if bears let the price dip below the September 7 intraday low of $ 0.95.

In contrast, if the bulls are driving and holding price above the 20-day EMA, it suggests that the correction may be over. The XRP / USDT pair could then move into the overhead resistance zone at $ 1.35-1.41.

SOL / USDT

The long tail of the Solana (SOL) candle from September 13-14 shows that the bulls are trying to defend the 20-day EMA ($ 145) but the negative sign is that the bears will not allow the rebound .

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 7SOL / USDT daily chart. Source: TradingView

The inside-day candlestick pattern on September 15th suggests indecision between bulls and bears. If the downside uncertainty resolves and the SOL / USDT pair breaks below the 20-day EMA, the correction could extend to the 61.8% Fibonacci retracement level at $ 123.42.

The deeper the correction, the longer it can take for the next leg of the uptrend to begin. On the flip side, if the price turns up and moves above $ 171.83, the pair could climb to $ 197.41 and then retest the all-time high at $ 216.

DOT / USDT

Polkadot (DOT) has continued its journey north, but the cops have not been able to overcome the hurdle at the resistance line. The RSI has turned down from the downtrendline and the negative divergence is intact.

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 8DOT / USDT daily chart. Source: TradingView

If buyers slide the price above the resistance line and close, the DOT / USDT pair could gain momentum. The pair could then climb to $ 41.40, and if that level is exceeded, the next stop could be the all-time high at $ 49.78.

Alternatively, if the price drops from current levels, the pair could fall to the 20-day EMA ($ 31.45). A strong rebound from this support will suggest that the bulls buy aggressively on dips. This increases the likelihood of breaking above the resistance line.

A break and close below the 20-day EMA are the first signs of a strong bear comeback.

Related: MicroStrategy’s Bitcoin Treasury exceeds cash held by 80% of S&P 500 non-financial companies

DOGE / USDT

Dogecoin (DOGE) is stuck between the moving averages and the support level at $ 0.21. Although the bulls are trying to defend the $ 0.21 support, the rally lacks strength. This indicates weak demand at the current level.

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 9DOGE / USDT daily chart. Source: TradingView

The moving averages are on the verge of a bearish crossover and the RSI is still trading in negative territory, suggesting that the path of least resistance is on the downside.

If bears drag the price below $ 0.21, the DOGE / USDT pair could fall to the next big support at $ 0.15.

On the contrary, a break and a close above the moving averages are the first signs that the bulls are back in the game. The pair could gain momentum above the downtrendline.

UNI / USDT

The bears have repeatedly failed to pull Uniswap (UNI) below the September 7 intraday low of USD 21 in the past few days. This shows buying at lower levels. The bulls pushed the price above $ 25 on September 14th but are facing strong resistance on the moving averages.

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 10UNI / USDT daily chart. Source: TradingView

If the price goes down below $ 25, the UNI / USDT pair could fall back towards $ 23.45 and then $ 21. This is an important level to watch out for as a break below it could signal a deeper correction.

On the contrary, if the price rebounds from $ 25 or $ 23.45, it suggests that the bulls are trying to make a comeback. A breakout and a close above the moving average could open the doors for a possible rise to $ 31.41.

MOON / USDT

The Terra Protocol’s LUNA token bounced off the 20-day EMA ($ 33.50) on September 13, as evidenced by the long tail of the day candle. This suggests that sentiment remains positive and traders buy on dips.

BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA 11LUNA / USDT daily chart. Source: TradingView

The LUNA / USDT pair formed an internal candlestick pattern on September 14th, indicating indecision between bulls and bears. A break and close below the 20-day EMA will signal an advantage to the bears. The pair could then correct to the 50-day SMA ($ 25.25).

Conversely, if the bulls push the price above $ 38, the pair could continue its bullish move towards the all-time high at $ 45.01. A break through and a close above this resistance could push the pair to the psychological level of $ 50.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph. Every investment and trading movement carries risks. You should do your own research when making a decision.

Market data is provided by HitBTC Exchange.

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