Although Bitcoin and major altcoins have recouped from last week’s selloff, they still face selling at higher levels. This suggests that the market could be range bound for a few more days. Bitcoin (BTC), and Ether (ETH), recovered large parts of the losses that occurred due to the knee-jerk response to China’s regulatory crackdown. This suggests that crypto markets have absorbed news-based selling. Long-term investors may use the dip to accumulate. However, market participants will be watching the outcome of the infrastructure bill this coming week. The debate could begin on Sept. 27 and the final vote take place on Sept. 30. Although volatility may be caused by the broad definition of “broker”, HODLers are unlikely not to be shaken. Daily cryptocurrency market performance. Source: Coin360Analyst Willy Woo stated that Bitcoin has entered the Never Going to Give Up phase of the Astley Cycle. This could be followed up by a rally. Jamie Dimon, CEO of JPMorgan, is a strong critic of Bitcoin. Interview with Times of India: Dimon stated that he would not buy Bitcoin if its price rose “10 times” in the next five-years. Could this mean that Bitcoin’s recovery will continue or is it likely to remain in a range bound? Source: TradingView. The daily chart of Bitcoin/USDT shows that the trend is downwards. Source: TradingViewThe downwardly trending 20-day EMA, and the relative strength indicator (RSI) just below midpoint indicate that the path to the downside is the most likely. If the price falls below the 100-day SMA and bears continue to sell, this could lead to a sharp increase in selling. The BTC/USDT pair could drop to $37.332.70, and if that level is breached, it could fall to $30,000. This bearish view will be invalidated if the price rises from the current level and breaks through the moving averages. This would indicate that bulls are back in action. The pair could rally to $48,843.20, and then to $52,920.ETH/USDTThe long tail in Ether’s candlesticks over the past three days indicates that bulls are aggressively purchasing near the 100-day SMA ($2,756). This is why it is important to monitor the daily chart of ETH/USDT. Source: TradingViewThe 20 day EMA ($3,193) is sloping downward and the RSI just below the midpoint, indicating a slight advantage for bears. If the price drops below the current level, the ETH/USDT pairs could consolidate between the moving Averages for a few days. A break and close below 100-day SMA could increase selling. The pair could drop to $2,400, followed by a drop of $1,972. A break and close above 20-day EMA could be the first sign that the pair is strong. The pair could then rise as high as $3,600.ADA/USDT On Sept. 25, the bulls pushed Cardano (+ADA) above the moving Averages but failed to clear the $2.47 hurdle. Daily chart of ADA/USDT Source: TradingViewThe ADA/USDT price has fallen and the bears will attempt to bring it down to $1.94. This is a crucial level for bulls to protect as it could cause a downtrend. If they are able to do this, it will signal that the correction is over. The pair could then rally to $2.97.BNB/USDTBinance Coin (BNB) dipped below the support at $340 on Sept. 26 but the bulls bought the dip and held the level on a closing basis. BNB/USDT daily chart. Source: TradingView If the price drops below the $340-$320 support zone, the BNB/USDT pairing could see a decline of $300 to $300 and then to $250. The 20-day EMA ($388) has been declining and the RSI is at 37. This suggests that bears are in control. A break and close above this 20-day EMA will be the first sign of strength. This will indicate that the selling pressure has decreased. The pair could then rally to $433. XRP/USDTXRP has bounced off of the 100-day SMA ($0.88) repeatedly in the past few trading days, which indicates that bulls are aggressively protecting the support. The bulls will now attempt to push the price higher than the overhead resistance zone of the 20-day EMA ($1.02) or the 50-day SMA ($1.10). Daily chart of XRP/USDT Source: TradingViewIf they are able to do this, it will indicate that the correction may be over. The XRP/USDT currency pair could rise to $1.41, where bears could again mount a strong resistance. The bears are in control of the RSI in negative zone and the 20-day EMA that is in decline. The pair could fall to the 100-day SMA if the price falls below the 20-day EMA. The pair could remain between the moving averages for a few more days if this level holds. If bears continue to sink below the 100-day SMA, the next leg of the down movement could start. This could open the door to a possible drop of $0.69. SOL/USDTSolana broke out from the downtrend line today and the 20-day EMA ($143), which suggests that bears are losing their grip. The 20-day EMA has sunk and the RSI is just below the midpoint. This indicates a balance between supply/demand. SOL/USDT daily charts. Source: TradingView The bulls could have a short-term advantage if they push the price higher than $152.50. The SOL/USDT currency pair could rally to $171.47, where bears may mount a stiff resistance. If the price falls below the overhead resistance or current level, the bears will attempt to bring the price down to the 50 day SMA ($114). A break or close below this support could signal a change in trend. On the other hand, a break and close above $171.47 could push the pair to $200.DOT/USDTPolkadot (DOT) broke below the 50-day SMA ($28.76) on Sept. 26 but the long tail on the day’s candlestick suggests that bulls are attempting to defend the neckline of the head and shoulders pattern.DOT/USDT daily chart. Source: TradingViewThe buyers tried to push the price higher above the overhead resistance at 20-day EMA ($30.91), but the long tail on the day’s candlestick suggests that bears are selling on rallies. A retest of neckline for DOT/USDT is possible if bears pull the pair below the 50day SMA. A break and close below this support will complete the bearish H&S pattern, which has a pattern target at $12.23.On the contrary, if bulls drive the price above the downtrend line, the pair could rise to $33.60 and later to $38.77.Related: Before NFTs: Surging interest in pre-CryptoPunk collectiblesDOGE/USDTDogecoin (DOGE) plummeted and closed below the $0.21 support on Sept. 24. The price fell to $0.19 on September 26, but bulls have defended this level aggressively, as shown by the long tail of the day’s candlestick. Daily chart of DOGE/USDT Source: TradingView. The bulls are trying to push the price higher than the overhead resistance of $0.21. If they succeed, the DOGE/USDT price could rise to the overhead resistance at $0.21. The pair could fall to $0.15 if it breaks below this support. A break and close below the 20-day EMA could lead to a move up to the 50 day SMA ($0.26). The bulls will now push the price up to $79.80. AVAX/USDT daily charts. Source: TradingViewA breakout or close above the all time high will signal the resumption the uptrend. The bears could try to halt the up-move at channel’s resistance line, but if bulls prevail, the AVAX/USDT price could gain momentum and rally to $100. Or, if the price falls below the channel support line and the breakout level at $60.04, the pair could begin a deeper correction. A break below the breakout level at $60.04 could open the gates for a decline to the 50-day SMA ($46.23).LUNA/USDTTerra protocol’s LUNA token turned down from $41.28 on Sept. 24 but the positive sign is that bulls did not allow the price to break below the 20-day EMA ($34.51). This indicates that bulls are buying on dips while bears are selling on rallies. Source: TradingViewThe indicators are giving conflicting signals. The upsloping moving Averages indicate advantage to buyers, while the negative divergence in the RSI warns of a weakening bullish momentum. If bulls drive the price higher than the downtrend line, the LUNA/USDT exchange could retest its all-time high of $45.01. A break and close above this resistance will suggest the resumption of the uptrend.Alternatively, if the price turns down from the current level or the downtrend line and breaks below the 20-day EMA, the decline could extend to the 50-day SMA ($30.43).The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Risk is inherent in every investment or trading move. HitBTC exchange provides market data.

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