Price analysis 9/18: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, TON, SOL

1 year ago

The nonaccomplishment of the bears to descend Bitcoin’s (BTC) terms beneath $25,000-support ignited buying involvement past week. The affirmative momentum picked up further astatine the commencement of the caller week and buyers are trying to prolong Bitcoin’s terms supra $27,000.

Market participants look to beryllium buoyant connected expectations that the Federal Reserve volition not hike rates this year. The CME FedWatch Tool shows a 58% probability that the rates volition stay astatine the existent levels adjacent successful the December meeting.

That could beryllium 1 of the reasons wherefore the spot successful the United States dollar scale (DXY) has not adversely impacted the terms of Bitcoin. However, traders request to beryllium cautious arsenic the past 10 days successful September are known to favour the bears. According to the Carson Group, the S&P 500 Index (SPX) has been positive connected mean lone for 2 days betwixt Sep. 20 and 30 since 1950.

Could Bitcoin and prime altcoins widen their betterment further oregon volition bears propulsion the terms lower? Let’s analyse the charts to find out.

S&P 500 Index terms analysis

The S&P 500 Index broke supra the moving averages connected Sep. 14 but the bulls could not support up the momentum and wide the overhead hurdle astatine the downtrend line.

The bears sold aggressively astatine the downtrend enactment and pulled the terms backmost beneath the moving averages connected Sep. 15. Sellers volition effort to further fortify their presumption by pulling the terms beneath the adjacent enactment astatine 4,030. If they bash that, it volition unfastened the doors for a imaginable retest of the captious enactment astatine 4,325.

If bulls privation to summation the precocious hand, they volition person to rapidly thrust the terms supra the downtrend line. There is simply a insignificant absorption astatine 4,542 but if this level is crossed, the scale could sprint toward 4,607.

U.S. dollar scale terms analysis

The U.S. dollar scale has continued to grind higher successful the past fewer days but it is apt to look stiff absorption astatine 106.

If buyers bash not let the terms to dip beneath the 20-day exponential moving mean (104), it volition heighten the prospects of a rally supra 106. If that happens, the scale could prime up momentum and soar to 108.

Alternatively, if the terms turns down sharply from 106, it volition suggest that bears are defending this level aggressively. A driblet beneath the 20-day EMA could descend the terms to the 50-day elemental removing mean (102). That could support the terms stuck betwixt 101 and 106 for immoderate much time.

Bitcoin terms analysis

Bitcoin has maintained supra the 20-day EMA ($26,394) since Sep. 14, indicating that the bulls person flipped the level into support. Buyers are trying to fortify their presumption further by pushing the terms supra the 50-day SMA ($27,255).

The bears are expected to airs a beardown situation successful the portion betwixt the 50-day SMA and the overhead absorption astatine $28,143. If the terms turns down sharply from this zone, it volition bespeak that the BTC/USDT brace whitethorn enactment range-bound betwixt $24,800 and $28,143 for a fewer days.

On the different hand, if bulls thrust the terms supra $28,143, it volition wide the way for $30,000 and $31,000 arsenic the adjacent targets.

Overall, clip is moving retired for the bears. If they privation to regain control, they volition person to rapidly yank the terms backmost beneath the 20-day EMA.

Ether terms analysis

After struggling adjacent the 20-day EMA ($1,639) for the past fewer days, the bulls succeeded successful pushing Ether (ETH) supra the overhead absorption connected Sep. 18.

The 20-day EMA is flattening retired and the RSI is adjacent the midpoint, indicating that the bulls are connected a comeback. If buyers prolong the terms supra the 20-day EMA, the ETH/USDT brace could archetypal emergence to the 50-day SMA ($1,712) and thereafter to $1,750. A interruption supra this level volition awesome a short-term treble bottom. The signifier people of this bullish setup is $1,959.

However, the bears are apt to person different plans. They volition effort to tug the terms backmost beneath the 20-day EMA and trap the assertive bulls. A interruption beneath $1,600 could commencement a downward determination toward presumably beardown enactment astatine $1,531.

BNB terms analysis

BNB (BNB) roseate supra the 20-day EMA ($215) connected Sep. 17, indicating that the bearish momentum is weakening. The terms could adjacent scope the 50-day SMA ($224).

The bears are apt to connection stiff absorption successful the portion betwixt the 50-day SMA and $235. If the terms turns down from this zone, it volition awesome that the BNB/USDT brace could stay range-bound betwixt $200 and $235 for a while. The flattish 20-day EMA and the RSI adjacent the midpoint besides suggest a consolidation successful the adjacent term.

Instead, if the bears descend the terms beneath the 20-day EMA, the brace could again retest the captious enactment adjacent $200. The repeated retest of a enactment level wrong a abbreviated interval tends to weaken it. If this level cracks, the brace whitethorn tumble to $183.

XRP terms analysis

XRP’s (XRP) betterment is facing selling adjacent the 20-day EMA ($0.50) but the bulls person not fixed up and are trying to propulsion the terms supra the resistance.

If buyers footwear the terms supra the 20-day EMA, the XRP/USDT brace could effort a rally to $0.56. This level could beryllium to beryllium a hard obstruction for the bulls to overcome.

Contrarily, if the terms turns down from the existent level, it volition suggest that the bears are fiercely protecting the 20-day EMA. There is simply a insignificant enactment astatine the uptrend enactment but if this level cracks, the brace risks sliding to $0.45 and yet to $0.41.

Cardano terms analysis

Cardano (ADA) continues to beryllium squeezed betwixt the 20-day EMA ($0.25) and the captious enactment astatine $0.24. This tight-range trading is improbable to proceed for agelong and a breakout whitethorn beryllium astir the corner.

The affirmative divergence connected the RSI suggests that the selling unit is reducing. If the uncertainty resolves to the upside, it volition pave the mode for a imaginable rally to the overhead absorption astatine $0.28.

On the contrary, if the terms plummets beneath $0.24, it volition awesome that the bears person asserted their supremacy. That could awesome the commencement of the adjacent limb of the downtrend. The ADA/USDT brace whitethorn past slump to $0.22.

Dogecoin terms analysis

Dogecoin (DOGE) has been stuck betwixt the 20-day EMA ($0.06) and the horizontal enactment astatine $0.06 for the past fewer days.

Generally, a compression successful volatility is followed by a scope expansion. If the DOGE/USDT brace soars and closes supra the 20-day EMA, it volition suggest that bulls are attempting a comeback. The brace could past rally to $0.07. Buyers volition person to flooded this roadblock to commencement an up-move to $0.08.

This affirmative presumption volition beryllium invalidated if the terms turns down and dives beneath the $0.06 support. That could propulsion the terms down to the adjacent enactment astatine $0.055. The bulls are expected to defender this level with vigor.

Toncoin terms analysis

The agelong wick connected Toncoin’s (TON) Sep. 16 and 17 candlestick shows that traders are booking profits adjacent the overhead absorption astatine $2.59.

The overbought level connected the RSI suggests a imaginable correction oregon scope enactment successful the adjacent term. However, the bulls person not fixed up and are again trying to propel TON terms supra $2.59. If they tin propulsion it off, TON/USDT could prime up momentum and skyrocket to $3.

The important enactment to ticker for connected the downside is $2.25. If this level gives way, the brace could commencement a deeper correction to the adjacent enactment astatine $2.07.

Solana terms analysis

After trading adjacent the 20-day EMA ($19.47) for the past fewer days, Solana (SOL) broke supra the absorption connected Sep. 18.

The 20-day EMA is flattening retired and the RSI is adjacent the midpoint, indicating that the bears whitethorn beryllium losing their grip. Buyers volition effort to cement their presumption further by pushing the terms to the overhead absorption astatine $22.30. This level is apt to pull sellers.

If the bulls neglect to clasp the terms supra the 20-day EMA, it volition suggest that bears are selling astatine higher levels. The archetypal enactment connected the downside is $18.50 and if this level is violated, SOL terms risks descending towar the adjacent large enactment astatine $17.33.

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.

View source