Cardano

Bitcoin

Dogecoin

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 <p><strong>The resurgence of Bitcoin and alternative cryptocurrencies is encountering higher-level resistance, suggesting a prevailing negative sentiment.</strong></p> 
 <p>Since April, Bitcoin has remained within a substantial trading range, reflecting uncertainty regarding its next directional shift. The attempts by bearish traders to push the price below the range’s support were successfully countered by bullish traders on September 11. Nevertheless, Bitcoin’s outlook remains uncertain.</p> 
 <p>According to Jamie Coutts, a certified market technician and crypto market analyst at Bloomberg Intelligence, if the tightening economic conditions persist, increased unemployment and mounting pressures in the banking sector could lead to further challenges for assets like Bitcoin.</p> 
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    <em><sub>Daily cryptocurrency market performance. Source: Coin360</sub></em>
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 <p>Cryptocurrency traders have also remained cautious. A Bitfinex report shows the cryptocurrency industry witnessed capital outflows of $55 billion in August. The drop in liquidity has caused isolated events to “have a bigger impact on market movements,” the report added.</p> 
 <p>Will Bitcoin turn down and retest its pivotal support? Could Bitcoin’s weakness trigger further selling in altcoins? Let’s study the charts of the top 10 cryptocurrencies to find out.</p> 
 <h2 class="wp-block-heading" id="bitcoin-price-analysis">Bitcoin price analysis</h2> 
 <p>Bitcoin broke and closed above the 20-day exponential moving average (EMA) of $26,228 on Sept. 14, indicating that the downside momentum is weakening.</p> 
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    <em><sub>BTC/USDT daily chart. Source: TradingView</sub></em>
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 <p>The 20-day EMA is flattening out, and the relative strength index (RSI) is near the midpoint, signalling that the BTC/USDT pair may stay range-bound between $24,800 and $28,143 for some more time.</p> 
 <p>If bears want to make a comeback, they must quickly pull the price back below the 20-day EMA. Such a move will suggest that higher levels are being sold into. That could result in a retest of the strong support at $24,800.</p> 
 <h2 class="wp-block-heading" id="ether-price-analysis">Ether price analysis</h2> 
 <p>Ether plunged below the $1,550 support on Sept. 11, but the bears could not build upon this strength. This suggests solid buying at lower levels.</p> 
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    <em><sub>ETH/USDT daily chart. Source: TradingView</sub></em>
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 <p>The bulls after that started a recovery, which has reached the 20-day EMA ($1,638). This level will likely witness a tough battle between the bulls and the bears. A break and close above the 20-day EMA could trap several aggressive bears, resulting in a short squeeze. That could propel the price to $1,745.</p> 
 <p>Instead, if the price turns down from the 20-day EMA, it will suggest that the bears remain in command. The sellers will then make another attempt to sink the ETH/USDT pair below $1,550 and resume the downtrend.</p> 
 <h2 class="wp-block-heading" id="bnb-price-analysis">BNB price analysis</h2> 
 <p>BNB bounced off the psychological support near $200 on Sept. 12, indicating that the bulls are active at lower levels.</p> 
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    <em><sub>BNB/USDT daily chart. Source: TradingView</sub></em>
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 <p>The recovery has reached the 20-day EMA ($215), a significant level to watch out for. If the BNB/USDT pair turns lower from the current level, it will indicate that the sentiment remains negative and traders are selling on relief rallies. That will increase the risk of a breakdown below $200.</p> 
 <p>Contrarily, the RSI is forming a positive divergence, indicating that selling pressure could be falling. A rise above the 20-day EMA could open the doors for a retest of the 50-day simple moving average (SMA) at $225.</p> 
 <h2 class="wp-block-heading" id="xrp-price-analysis">XRP price analysis</h2> 
 <p>XRP has been trading between $0.41 and $0.56 for several days. The price has recovered to the 20-day EMA ($0.50), which is a significant level to keep an eye on.</p> 
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    <em><sub>XRP/USDT daily chart. Source: TradingView</sub></em>
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 <p>If buyers thrust the price above the 20-day EMA, it will indicate that the selling pressure is reducing. That could start a sustained recovery toward the overhead resistance at $0.56. This level may again act as a roadblock.</p> 
 <p>If the price turns down from $0.56, it will indicate that the range-bound action may continue for some more time. The next trending move will likely begin after bulls push the price above $0.56 or bears sink the XRP/USDT pair below $0.41.</p> 
 <h2 class="wp-block-heading" id="cardano-price-analysis">Cardano price analysis</h2> 
 <p>The strong selling in Cardano pulled the price to $0.24 on Sept. 11, but the bears could not break the crucial support.</p> 
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    <em><sub>ADA/USDT daily chart. Source: TradingView</sub></em>
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 <p>The rebound off $0.24 on Sept. 12 reached the 20-day EMA ($0.26) on Sept. 15. This level is likely to witness a tussle between the buyers and sellers. If the ADA/USDT pair turns down sharply from the 20-day EMA, it will indicate that every minor rise is being sold. That could increase the risk of a drop to $0.22.</p> 
 <p>Contrarily, if buyers shove the price above the 20-day EMA, it will signal the start of a more robust recovery to $0.28.</p> 
 <h2 class="wp-block-heading" id="dogecoin-price-analysis">Dogecoin price analysis</h2> 
 <p>Dogecoin trades between the 20-day EMA ($0.06) and the solid support at $0.06. This tight-range trading is unlikely to continue for long, and a breakout may happen soon.</p> 
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    <em><sub>DOGE/USDT daily chart. Source: TradingView</sub></em>
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 <p>If buyers kick the price above the 20-day EMA, it will suggest that the sellers may be losing their grip. That could start a relief rally to the 50-day SMA ($0.07), where the bears are expected to intensify selling.</p> 
 <p>Contrary to this assumption, if the price turns down sharply from the 20-day EMA, it will enhance the prospects of a break below $0.06. The DOGE/USDT pair may plummet to $0.055 if this support breaks down.</p> 
 <h2 class="wp-block-heading" id="solana-price-analysis">Solana price analysis</h2> 
 <p>Solana’s SOL has been swinging between $14 and $27.12 for several months. The price has reached the 20-day EMA ($19.51), where bears will likely pose a stiff challenge.</p> 
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    <em><sub>SOL/USDT daily chart. Source: TradingView</sub></em>
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 <p>If buyers thrust the price above the 20-day EMA, the SOL/USDT pair could reach the overhead resistance at $22.30. This level may again act as a substantial hurdle, but if bulls overcome it, the pair could climb to $27.12.</p> 
 <p>On the contrary, if the price turns down from the 20-day EMA, it will signal that demand dries up at higher levels. The bears then try to resume the downtrend and yank the price to the vital support at $14.</p> 
 <h2 class="wp-block-heading" id="toncoin-price-analysis">Toncoin price analysis</h2> 
 <p>Toncoin (TON) snapped back from the 20-day EMA ($1.75) on Sept. 12, indicating that the bulls view the dips as a buying opportunity.</p> 
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    <em><sub>TON/USDT daily chart. Source: TradingView</sub></em>
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 <p>The price reached the first resistance at $1.98 on Sept. 13, when the bears tried to halt the up move. A minor advantage in favour of the bulls is that they have not ceded ground to the bears. This suggests that the bulls are in no hurry to book profits as they anticipate the upmove to continue.</p> 
 <p>If the $1.98 level is removed, the TON/USDT pair could reach $2.07. This is essential for the bears to defend because a break above it could propel the pair to $2.40. On the downside, a slide below the 20-day EMA could tilt the advantage in favour of the bears.</p> 
 <h2 class="wp-block-heading" id="polkadot-price-analysis">Polkadot price analysis</h2> 
 <p>Polkadot’s DOT has been trading below the breakdown of $4.22 for the past few days, which is a negative sign.</p> 
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    <em><sub>DOT/USDT daily chart. Source: TradingView</sub></em>
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 <p>The bulls are trying to start a relief rally, but that is likely to face strong selling at $4.22. If the price turns down from the overhead resistance, it will suggest that bears remain in control. The sellers will then try to sink the DOT/USDT pair below $3.90. If they succeed, the pair could collapse to $3.44.</p> 
 <p>Bulls must push and sustain the price above $4.22 if they want to prevent the decline. If they do that, it will suggest that the markets have rejected the breakdown. The pair may then attempt a rally to the 50-day SMA ($4.61).</p> 
 <h2 class="wp-block-heading" id="polygon-price-analysis">Polygon price analysis</h2> 
 <p>Polygon’s MATIC slipped below the critical support at $0.51 on Sept. 11, but the bears could not maintain the selling pressure. That started a rebound, nearing the 20-day EMA ($0.54).</p> 
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    <em><sub>MATIC/USDT daily chart. Source: TradingView</sub></em>
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 <p>The bears will attempt to stall the recovery at the 20-day EMA and tug the price below $0.50. If they manage to do that, it will signal the resumption of the downtrend. The MATIC/USDT pair could then slump to $0.45.</p> 
 <p>Although the downsloping moving averages indicate an advantage to bears, the positive divergence on the RSI suggests that the bearish momentum may be slowing down. If buyers clear the obstacle at the 20-day EMA, the pair may climb to $0.60.</p> 
 <p><strong>Source</strong></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/market-assessment-sep-15th-btc-eth-bnb-xrp-ada-doge-sol-ton-dot-matic-tbt62935.html">https://thebittimes.com/market-assessment-sep-15th-btc-eth-bnb-xrp-ada-doge-sol-ton-dot-matic-tbt62935.html</a></p>

Market Assessment Sep 15th: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC

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