Price analysis 9/15: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA
Bitcoin (BTC) is leading the recovery in the crypto sector and the cryptocurrency briefly rallied to $48,429 on Sept. 15, before pulling back to test the underlying support levels.
While speaking during a alive stream at the Table salt conference, Ark Invest CEO Cathie Wood said that Bitcoin is the default currency of the crypto space and could ascent tenfold in the next five years.
Her project is based on the presumption that Bitcoin will find a place in the balance sheets of many companies and institutional investors volition increment their allotment to Bitcoin and other cryptocurrencies to about 5%.
Several legacy finance companies take realized the growing demand for digital assets and are increasing their crypto offerings to fulfill that demand. Morgan Stanley recently ready up a new crypto-focused research division "in recognition of the growing significance of cryptocurrencies and other digital assets in global markets".
Additional positive news came from Allegiance Investments executives who apparently met several United States Securities and Exchange Commission officials and stressed the importance of why a Bitcoin commutation-traded fund should be approved. The executives pointed to the increasing charge per unit of Bitcoin adoption, the approvals of similar funds in other countries and the growing demand for digital avails.
Can Bitcoin and altcoins sustain the current rebound? Let's analyze the charts of the top 10 cryptocurrencies to find out.
BTC/USDT
The long tail on the Sept. 13 candlestick shows that bulls were aggressively buying on dips shut to the critical support at $42,451.67. Sustained buying past the bulls and possible short-covering by brusk-term bears has propelled Bitcoin in a higher place the 20-24-hour interval exponential moving average (EMA) ($47,195) on Sept. xv.
If bulls sustain the price above the 20-day EMA, the BTC/USDT pair could rise to the overhead resistance zone of $50,500 to $52,920.
The relative force index (RSI) has jumped back into the positive territory and the twenty-day EMA has flattened out, signaling a small-scale advantage to buyers. A breakout and shut above the overhead zone will signal the resumption of the uptrend.
However, bears are unlikely to throw the towel easily. They will attempt to stall the upward-move at the overhead zone. If the price turns downwards from the resistance, the pair could consolidate in a large range for a few more days.
The bears volition have to sink and sustain the price below $42,451.67 to gain the upper hand.
ETH/USDT
The long tail on the Sept. 13 candlestick shows that bulls are aggressively defending the 50-mean solar day uncomplicated moving average ($three,189). The buyers pushed Ether (ETH) above the 20-day EMA ($3,430) on Sept. 15, but may face up strong resistance at $iii,567.06.
If bulls overcome the overhead hurdle, the ETH/USDT pair could once more attempt to ascent to $4,000. Alternatively, if the price turns down from $3,567.06, the pair may drop to the 50-day SMA.
Such a motion will suggest that the pair could remain range-bound for a few days. The flat 20-solar day EMA and the RSI but to a higher place the midpoint indicate a slight advantage to buyers.
The bears will accept to sink and sustain the price below the critical support at $three,000 to indicate the get-go of a possible down move.
ADA/USDT
Cardano (ADA) plunged beneath the breakout level at $2.47 on Sept. xiii, but the bears could non pull the toll down to the 50-twenty-four hours SMA ($two.21). This suggests that selling dries up at lower levels.
The ADA/USDT pair formed a Doji candlestick pattern on Sept. 14, indicating indecision among the bulls and the bears. This dubiousness resolved to the upside on Sept. 15 and buyers are attempting to clear the hurdle at the 20-24-hour interval EMA ($two.55).
If the toll breaks and closes above the twenty-day EMA, the pair could rise to the overhead resistance zone at $2.97 to $3.10.
On the contrary, if the price turns downwardly from the 20-solar day EMA, the bears volition once more try to sink the pair to the 50-day SMA. A break and close below this support volition suggest a possible trend change.
BNB/USDT
The bears could non capitalize on the break and close below the 50-day SMA ($414) on Sept. xiii, which suggests buying at lower levels. The bulls are currently attempting to push Binance Coin (BNB) to a higher place the 20-twenty-four hour period EMA ($436).
If bulls succeed in sustaining the price above the twenty-24-hour interval EMA, it will suggest that the correction might exist over. The BNB/USDT pair could so motion upward to the overhead resistance at $518.90. A intermission and close to a higher place this level will point the resumption of the uptrend.
On the contrary, if the price turns downward from the 20-twenty-four hours EMA, it will signal that bears are selling on relief rallies. The bears volition then make one more try to sink the pair to the adjacent support at $340.
XRP/USDT
Ripple (XRP) bounced off the 50-twenty-four hour period SMA ($1.05) on Sept. 13, suggesting that bulls are defending this level. The altcoin could now rise to the 20-24-hour interval EMA ($1.xiii) where the bears are probable to pose a stiff challenge.
The 20-solar day EMA is sloping down gradually and the RSI is simply below the midpoint, suggesting a minor advantage to the bears. A break and shut beneath the l-day SMA volition suggest that bears take overpowered the bulls. The selling could intensify if bears sink the price beneath the Sept. vii intraday low at $0.95.
Contrary to this, if bulls drive and sustain the price above the xx-twenty-four hour period EMA, it volition point that the correction could be over. The XRP/USDT pair could and so rise to the overhead resistance zone at $one.35 to $1.41.
SOL/USDT
The long tail on Solana's (SOL) Sept. thirteen–14 candlestick shows that bulls are attempting to defend the twenty-mean solar day EMA ($145) but the negative sign is that bears are not allowing the rebound to sustain.
The inside-mean solar day candlestick pattern on Sept. fifteen indicates indecision amid the bulls and the bears. If the doubt resolves to the downside and the SOL/USDT pair plummets beneath the twenty-day EMA, the correction could extend to the 61.8% Fibonacci retracement level at $123.42.
The deeper the correction, the longer information technology may take for the side by side leg of the uptrend to brainstorm. On the other hand, if the price turns upwards and rises above $171.83, the pair could rally to $197.41 and then retest the all-time high at $216.
DOT/USDT
Polkadot (DOT) has continued its northward journey but the bulls have non been able to articulate the hurdle at the resistance line. The RSI has turned down from the downtrend line and the negative departure is intact.
If buyers thrust and close the toll above the resistance line, the DOT/USDT pair could pick up momentum. The pair could and so rally to $41.40 and if this level is crossed, the side by side finish could exist the all-time high at $49.78.
Alternatively, if the cost turns down from the current level, the pair could drop to the 20-day EMA ($31.45). A potent bounce off this support will suggest that bulls are aggressively buying on dips. That will increase the possibility of a break to a higher place the resistance line.
A pause and shut below the 20-twenty-four hour period EMA will be the first sign that bears have fabricated a strong improvement.
Related: MicroStrategy'south Bitcoin treasury exceeds greenbacks held past eighty% of S&P 500 non-financial companies
DOGE/USDT
Dogecoin (DOGE) is stuck betwixt the moving averages and the support level at $0.21. Although bulls are attempting to defend the $0.21 back up, the bounce lacks strength. This suggests weak need at current levels.
The moving averages are on the verge of completing a bearish crossover and the RSI continues to trade in the negative territory, suggesting that the path of least resistance is to the downside.
If bears sink the price below $0.21, the DOGE/USDT pair could collapse to the side by side major back up at $0.15.
On the opposite, a intermission and close above the moving averages volition be the get-go sign that bulls are back in the game. The pair could pick up momentum above the downtrend line.
UNI/USDT
The bears repeatedly failed to pull Uniswap (UNI) below the Sept. 7 intraday low at $21 in the past few days. This shows buying at lower levels. The bulls pushed the cost above $25 on Sept. fourteen but are facing stiff resistance at the moving averages.
If the price turns downwards and breaks below $25, the UNI/USDT pair could again driblet toward $23.45 and then $21. This is an of import level to watch out for because a break below it could indicate a deeper correction.
On the contrary, if the price rebounds off $25 or from $23.45, it volition suggest that bulls are attempting a comeback. A break and close in a higher place the moving averages could open the doors for a possible rise to $31.41.
LUNA/USDT
Terra protocol'south LUNA token bounced off the xx-day EMA ($33.l) on Sept. 13, as seen from the long tail on the mean solar day'southward candlestick. This suggests that sentiment remains positive and traders are buying on dips.
The LUNA/USDT pair formed an inside candlestick pattern on Sept. 14, indicating indecision among bulls and bears. A break and close below the 20-day EMA will signal advantage to the bears. The pair could then correct to the 50-day SMA ($25.25).
Conversely, if bulls drive the price above $38, the pair could again resume its upwardly-move toward the all-fourth dimension loftier at $45.01. A interruption and close higher up this resistance could propel the pair to the psychological level at $l.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves take chances. You should bear your ain research when making a decision.
Market data is provided by HitBTC substitution.
Source: https://cointelegraph.com/news/price-analysis-9-15-btc-eth-ada-bnb-xrp-sol-dot-doge-uni-luna
Posted by: vangorderwhout1940.blogspot.com
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