Dogecoin

Cardano

Solana

Shiba Inu

Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC</a>) has been in a sideways price action pattern for several months, but the bears are trying to seize control. The resolution of the large $55,724 to $73,777 range in favor of the sellers could start a downtrend.
Arthur Hayes, former CEO of crypto exchange BitMEX, has projected <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/arthur-hayes-sub-50k-btc-price-bitcoin-risks-trend-shift" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Bitcoin to fall below $50,000</a>. A similar view was offered by veteran trader Peter Brandt, who has a target of $46,000 for Bitcoin.
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c84f-2fa6-78ad-a57b-d438ebe0c3f9">
 <figcaption style="text-align: center;">
 Crypto market data daily view. Source: <a data-ct-non-breakable="null" href="https://coin360.com" rel="noopener noreferrer nofollow" target="null" text="null" title="https://coin360.com">Coin360</a>
 </figcaption>
</figure>
However, not everybody shares the bearish view. Some analysts anticipate the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-september-gains-may-surprise-bears" rel="noopener noreferrer nofollow" target="null" text="null" title="null">macro factors to surprise the bears</a>.
“Although September is historically a negative month for BTC, the combination of a Fed [United States Federal Reserve] rate cut and a relatively robust US economy could surprise the bears,” Tyr Capital chief investment officer Ed Hindi told Cointelegraph.
Will Bitcoin start a new downtrend, pulling the altcoins lower? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
<h2 id="bitcoin-price-analysis">Bitcoin price analysis</h2>
Bitcoin’s rebound off the $55,724 support on Sept. 4 did not find buyers at higher levels. The bears maintained their selling pressure and pulled the price below $55,724 on Sept. 6.
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c84f-b492-74a0-9744-c3639a3b1d28">
 <figcaption style="text-align: center;">
 BTC/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
Minor support exists in the $53,500 to $54,000 range, where buyers will try to arrest the decline. However, if the bears prevail, the BTC/USDT pair could retest the $49,000 support. This is an essential level to keep an eye on because a break below it may start a downtrend.
Any rebound off the current level is likely to face strong selling at $55,724 and then at the 20-day exponential moving average ($58,804). Buyers will have to push the price above the 20-day EMA to suggest that the range-bound action may extend for some more time.
<h2 id="ether-price-analysis">Ether price analysis</h2>
Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">ETH</a>) bounced off the $2,300 support on Sept. 4, but the bulls could not maintain the higher levels. The bears have pulled the price below $2,300 on Sept. 6.
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c850-781b-7d2e-9c19-afdbea362a2a">
 <figcaption style="text-align: center;">
 ETH/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
Both moving averages are sloping down, and the relative strength index (RSI) is near the oversold territory, indicating that the bears are in charge. If the price closes below $2,300, the ETH/USDT pair could decline to $2,111 and thereafter to $2,000.
The bulls have an uphill task if they want to start a recovery. A break and close above the 20-day EMA ($2,530) will be the first sign of strength. The pair may then ascend to the breakdown level of $2,850.
<h2 id="bnb-price-analysis">BNB price analysis</h2>
The bulls held the $495 support in BNB (<a data-ct-non-breakable="null" href="https://cointelegraph.com/binance-coin-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BNB</a>) for the past two days, but they could not start a rebound. That increases the risk of a breakdown.
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c851-1544-7de7-b723-312b80afdca4">
 <figcaption style="text-align: center;">
 BNB/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The downsloping 20-day EMA ($528) and the RSI in the negative zone suggest that the bears have the upper hand. A break and close below the $495 support could sink the BNB/USDT pair to $460.
The bulls are expected to defend the $495 to $460 zone, but the recovery is likely to face selling at the moving averages. Buyers will have to clear the 50-day simple moving average ($543) to suggest that the range-bound action remains intact.
<h2 id="solana-price-analysis">Solana price analysis</h2>
The bulls are trying to prevent Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">SOL</a>) from falling to the crucial support at $116, but the bears have kept up the pressure.
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c851-c0ac-744f-9ba7-7a89ae0bceff">
 <figcaption style="text-align: center;">
 SOL/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The downsloping 20-day EMA ($139) and the RSI in the negative territory suggest that the bears have the upper hand. Sellers will try to sink the SOL/USDT pair to the crucial support at $116. Buyers will have to defend this level with all their might because a break below $116 may drag the pair to $100.
Instead, if the price turns up and breaks above the 20-day EMA, it will suggest that the selling pressure is weakening. The pair may rally to the 50-day SMA ($152) and later to $164.
<h2 id="xrp-price-analysis">XRP price analysis</h2>
XRP (<a data-ct-non-breakable="null" href="https://cointelegraph.com/xrp-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">XRP</a>) turned down from the 20-day EMA ($0.56) on Sept. 4 and plummeted below the $0.54 support on Sept. 6.
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c852-6423-7a34-bc7b-2a65f3cb2e26">
 <figcaption style="text-align: center;">
 XRP/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
This suggests the XRP/USDT pair may slide toward $0.50. That could keep the pair stuck inside the $0.64 to $0.46 range for a while. The bulls are expected to defend the $0.46 level with vigor.
Any recovery attempt by the bulls is expected to face selling at the moving averages. A break and close above the 50-day SMA ($0.57) will suggest that the bears may be losing their grip. The bulls will gain further strength above $0.64.
<h2 id="dogecoin-price-analysis">Dogecoin price analysis</h2>
Dogecoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/doge-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">DOGE</a>) bounced off the $0.09 support on Sept. 4, but the bulls failed to push the price above the 20-day EMA ($0.10).
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c853-18ff-7e61-add0-268e416f94f2">
 <figcaption style="text-align: center;">
 DOGE/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The bears will try to strengthen their position by yanking the price below $0.09. If they can pull it off, it will signal the resumption of the downtrend. The DOGE/USDT pair may dive to $0.08 and later to the support line of the falling wedge pattern.
Buyers will have to push and maintain the price above the downtrend line to signal a comeback. The pair may then climb to $0.14, indicating the start of a potential up move. If this level is crossed, the rally could reach $0.18.
<h2 id="toncoin-price-analysis">Toncoin price analysis</h2>
Toncoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/toncoin-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">TON</a>) is witnessing a tough battle between buyers and sellers near the critical support at $4.72.
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c853-b9dd-7b2f-af89-b3cca633a639">
 <figcaption style="text-align: center;">
 TON/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
If the price continues lower and breaks below $4.50, it will signal the completion of a bearish head-and-shoulders pattern. That may start a downward move, pulling the TON/USDT pair to $3.50.
Conversely, if the price rises from the current level, it is likely to reach the 20-day EMA ($5.47). This is an important level to watch out for because if the price turns down sharply from the 20-day EMA, it will suggest that the sentiment remains negative.&nbsp;
The first sign of strength will be a break and close above the 20-day EMA. That may open the doors for a rally to the 50-day SMA ($6.18) and later to $7.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/why-is-xrp-price-down-today" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Why is XRP price down today?</a>
<h2 id="cardano-price-analysis">Cardano price analysis</h2>
Cardano (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ada-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">ADA</a>) bounced off the $0.31 support on Sept. 4, indicating that the bulls are fiercely defending the level.
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c854-754d-7064-96c0-86f8c9888cab">
 <figcaption style="text-align: center;">
 ADA/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
On the upside, the long wick on the Sept. 5 candlestick shows that the bears are selling on rallies to the 20-day EMA ($0.34). If bears sink the price below $0.31, the ADA/USDT pair could plunge to $0.27 and later to the crucial support at $0.24.
Contrarily, if the price turns up from the $0.31 support and rises above the moving averages, it will suggest a short-term bottom formation. The pair could then rally to the downtrend line, where the bears are expected to offer a strong resistance.&nbsp;
<h2 id="avalanche-price-analysis">Avalanche price analysis</h2>
Avalanche (<a data-ct-non-breakable="null" href="https://cointelegraph.com/avalanche-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">AVAX</a>) has been trading below the moving averages for the past few days, but the bears have failed to challenge the $19.50 support. This suggests that selling dries up at lower levels.
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c855-1080-7722-b1e4-14146790a0d7">
 <figcaption style="text-align: center;">
 AVAX/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The bulls are attempting to push the price above the moving averages. If they succeed, the AVAX/USDT pair could reach the resistance line of the descending channel pattern. A break and close above the channel will suggest that the downtrend may be over. The pair may climb to $33 and later to $37.
This positive view will be invalidated in the near term if the price turns down and breaks below $19.50. That may sink the pair to $17.29 and eventually to the channel’s support line.
<h2 id="shiba-inu-price-analysis">Shiba Inu price analysis</h2>
Shiba Inu (<a data-ct-non-breakable="null" href="https://cointelegraph.com/shiba-inu-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">SHIB</a>) has been trading between the 20-day EMA ($0.000014) and the horizontal support at $0.000013.
<figure><img alt="Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB&nbsp;" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c855-a579-73bb-9db2-15426593f997">
 <figcaption style="text-align: center;">
 SHIB/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The tight-range trading signals a possible range expansion in the next few days. If the price breaks above the moving averages, the likelihood of a rally to $0.000020 increases. There is a minor resistance at $0.000016, but it is likely to be crossed.
Alternatively, if the price plummets below $0.000013, it will suggest the start of the next leg of the downtrend. The SHIB/USDT pair may plummet to $0.000011 and subsequently to $0.000010.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Price analysis 9/6: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

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