Bitcoin (BTC) has been trading between $25,333 and $26,156 since Sept. 1. Typically, a volatility squeeze is followed by an expansion in volatility, but it is difficult to predict the direction of the breakout with certainty.

CoinGlass data shows that Bitcoin has fallen for six consecutive years in September. This historic data could keep the bulls at bay in the near term and embolden the bears. Additionally, the U.S. Dollar Index (DXY), which has an inverse correlation with Bitcoin, has risen sharply in the past few weeks. Both these suggest that Bitcoin could remain under pressure in the short term.

It is not all gloom and doom for the crypto bulls because lower levels are likely to attract buyers. The prospect of one or more Bitcoin spot exchange-traded fund applications receiving approvals may limit the downside. Several analysts believe this event to be hugely bullish for Bitcoin. Any positive news in this regard may prop prices higher.

From a macro perspective, it looks like there may be near-term weakness, but lower levels are likely to be purchased. To gain a better understanding of the situation, it is important to analyze the differences between web 1.0, 2.0, 3.0 and 4.0, as well as the differences between web 3.0 and the metaverse. Additionally, it is important to describe web 3.0 and the next generation of online business. What are the important support levels to watch out for? Let’s study the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

The last two days have seen Bitcoin trading below $26,000, with bears attempting to pull the price towards the significant support at $24,800.

The declining moving averages point to an advantage for sellers, however, the increasing positive divergence on the RSI suggests that the bearish momentum could be weakening.

Buyers will have to propel and maintain the price above $26,833 to initiate a recovery rally to the 50-day SMA ($28,048). This would suggest that the price could remain confined within the wide range between $24,800 and $31,000.

Conversely, the bears may have other ideas. They will try to push the price below the $24,800–$24,000 support zone. If they succeed in doing so, the selling could become more aggressive, leading the BTC/USDT pair to drop to $20,000.

Ether price analysis

The long tail on Ether’s (ETH) Sept. 4 and 5 candlestick reveals that bulls are buying the dips below the immediate support at $1,626. However, there is no follow-up buying at higher levels, which implies that the bears are selling on rallies near $1,650. This narrow-range trading is unlikely to persist for long. If the price plummets and stays below $1,600, it will indicate that bears have taken control. There is minor support at $1,550, but if it collapses, the ETH/USDT pair could drop to $1,368.

On the upside, the bears are expected to firmly defend the zone between $1,650 and the 20-day exponential moving average (EMA) ($1,674). If buyers manage to overcome this barrier, the pair could surge to the 50-day SMA ($1,772).

BNB price analysis

The bears have been unable to capitalize on the BNB (BNB) trading below the key $220 level in recent days, suggesting that demand dries up at lower levels. This could trap the BNB/USDT pair between $220 and $200 for some time, and if the $200 support breaks, the pair could continue its downward trend. The next major support on the downside is $183.

In order to initiate a recovery, buyers must push the price above $220, which would show strong buying at lower levels. The pair may then attempt a rally to the downtrend line.

The differences between Web 1.0, 2.0, 3.0 and 4.0, as well as the distinction between Web 3.0 and Metaverse, are essential for understanding the next generation of online business.

XRP price analysis

XRP (XRP) has been struggling to break out of the $0.50 support level in recent days, which increases the chances of a downside breakdown.

A break and close below $0.50 could mean that the XRP/USDT pair could remain in the $0.56–$0.41 range for some time. There is no major support between $0.50 and $0.41, so the fall could be sharp.

Alternatively, the price could turn up from the current level and rise above the 20-day EMA ($0.52). If that happens, the pair could reach $0.56, which is a key level to watch.

Cardano price analysis

The ADA/USDT pair of Cardano’s ADA (ADA) has been fluctuating within a narrow range in recent days, suggesting that bulls and bears are being cautious with their positions.

The downward-sloping moving averages and the RSI in the negative zone indicate that the bears have a slight advantage. If the price dips below $0.25, the bears will attempt to push the ADA/USDT pair to $0.24.

Conversely, a breakout and close above the 20-day EMA ($0.26) will be the first sign of strength. This will open the way for a rally towards the 50-day SMA ($0.28). Buyers will have to surpass this obstacle to start a sustained recovery.

Dogecoin price analysis

On Sept. 6, Dogecoin (DOGE) touched the 20-day EMA ($0.06), which suggests that bulls are trying to launch a recovery.

However, bears are not likely to give up easily and will resist at the 20-day EMA. If the price reverses direction sharply, the bears may try to push the DOGE/USDT pair below $0.06. If successful, the pair could extend its decline to the next support at $0.055.

On the upside, a break and close above the 20-day EMA will be a sign that the selling pressure is reducing. That may initiate a rally to the 50-day SMA ($0.07) and later to $0.08.

Solana price analysis

SOL’s (SOL) attempted recovery is facing strong selling pressure at the downtrend line, indicating that the bears are defending this level aggressively. If the price dips below $19, the SOL/USDT pair could resume its downtrend. The first support on the downside is $18, and the next is $16. Buyers are expected to put up a strong defence at this level.

The first indication of strength will be a break and close above the 20-day EMA ($20.69). This could trigger a stronger recovery to the 50-day SMA ($22.70). This level may again act as a roadblock, but if bulls manage to break through it, the pair could attempt a rally to $25.42.

Toncoin price analysis

The price of Toncoin (TON) had an impressive surge, causing the Relative Strength Index (RSI) to reach the overbought zone, which is usually followed by a correction or consolidation.

Bears taking profits have pushed the price down towards the 20-day Exponential Moving Average (EMA) of $1.64, making it a key support level to watch. If the price rebounds off the 20-day EMA, it would indicate that the sentiment is still positive and traders are buying on dips, which could drive the price up to $2.07. If this level fails to hold, the rally may extend to $2.38.

On the other hand, if the 20-day EMA breaks, it would mean that the bulls are losing their grip. The TON/USDT pair could then drop to $1.53 and later to the 50-day Simple Moving Average (SMA) of $1.42.

Polkadot price analysis

Buyers have yet to start a strong rebound in Polkadot’s DOT (DOT), showing that the bears have kept up the pressure.

The declining moving averages and the RSI near the oversold zone increase the chance of a downward breakdown. If the $4.22 level breaks, the DOT/USDT pair could fall to the next major support at $4.

On the other hand, if the price turns up from the current level, the bears will attempt to stop the recovery at the 20-day EMA ($4.44) and again at the downtrend line. Buyers will have to overcome this obstacle to suggest a potential trend change.

Polygon price analysis

MATIC (MATIC) attempted to break the 20-day EMA ($0.57) on Sept. 5, but the bulls could not push the price above this level, indicating a lack of demand at higher levels.

The bears will now try to drive the price down to the important support at $0.50. This is the key level to watch out for in the near term, as a break below it could resume the downtrend and push the MATIC/USDT pair to $0.45.

If the bulls want to prevent this, they must quickly push the price above the 20-day EMA. This could start a stronger recovery to the overhead resistance at $0.60 and then $0.64, but the bears are likely to put up strong selling pressure at this level.

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