Check out the latest price analysis of BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT and MATIC on our crypto bull Twitter account.
Price analysis 9/20: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC

Bitcoin’s (BTC) recovery is facing selling pressure above $27,000, which could be attributed to investor nervousness ahead of the Federal Reserve’s meeting on Sep. 20. Despite this, long-term investors have remained unfazed and have continued to accumulate, as evidenced by Glassnode data which shows that Bitcoin’s inactive supply has been at all-time highs since July.

This bullish sentiment is not reflected in institutional activity, however. Investors have decreased their cryptocurrency exposure and are sitting on the sidelines awaiting more clarity on the regulatory and macroeconomic front. Asset manager CoinShares reported that outflows from exchange-traded products totaled $455 million over the past nine weeks.

Analysts remain divided about Bitcoin’s near-term price action. John Bollinger, creator of the Bollinger Bands, speculated on Twitter that Bitcoin could start an up-move, though he noted that it was “too early to answer.”

The volatility could increase after Fed Chair Jerome Powell’s press conference, but traders should be careful not to get caught in a bull or bear trap. It is better to wait on the sidelines and enter after the volatility subsides and a directional move begins.

What are the important levels to watch for on Bitcoin and the major altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.

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Bitcoin price analysis

The bulls are in control as Bitcoin is facing resistance at the 50-day simple moving average ($27,154) and the upsloping 20-day exponential moving average ($26,499) is indicating that, as well as the positive territory of the relative strength index (RSI). If the price rebounds off the 20-day EMA, it could potentially climb to $28,143, which would be beneficial for the crypto bull.

On the other hand, if the price turns down and breaks below the 20-day EMA, it will suggest that the bears are still active. A break and close below $26,000 may result in a decrease of the BTC/USDT pair towards the significant support at $24,800.

For the best crypto on twitter, crypto alerts twitter, and crypto breaking twitter, it is important to keep an eye on the BTC/USDT pair to stay up to date with the creator economy web 3.0 and the cheapest crypto press release.

Ether price analysis

Ether (ETH) has been staying above the breakdown level of $1,626 for the recent days, however, crypto bulls have been unable to capitalize on this strength.

The long wick on the Sep. 18 and 19 candlestick indicates that bears are selling at higher prices. The flattish 20-day EMA ($1,637) combined with the RSI just below the midpoint signify a balance between buyers and sellers.

If Ether (ETH) manages to surge above $1,680, it could give the crypto bulls an advantage. This could then propel the ETH/USDT pair to $1,745. On the other hand, if the price drops below $1,600, it will demonstrate that the bears have not yet given up. This might push the pair to $1,530.

BNB price analysis

Despite the bulls’ attempts to push BNB (BNB) above the overhead resistance at $220 on Sep. 18 and 19, the bears successfully defended the level.

The bulls have an advantage since they have not allowed the price to fall below the 20-day EMA ($215). This indicates that the bulls are buying the minor dips as they anticipate the up-move to continue.

If buyers can break through the zone between $220 and the 50-day SMA ($223), the BNB/USDT pair could begin a crypto bull run toward $235.

If the bears hope to prevent the upside, they must pull the price back below the 20-day EMA. This could keep the price stuck inside the $203 to $220 range for a while longer.

XRP price analysis

On Sep. 19, the XRP (XRP) bulls took the upper hand as the price rose and closed above the 20-day EMA ($0.50). If the crypto remains above this level, it could indicate that the bulls are attempting to turn it into support, potentially leading to an increase to the overhead resistance at $0.56.

The recent price action appears to be forming a bullish ascending triangle pattern, which would be confirmed with a break and close above $0.56. To maintain the setup, buyers must keep XRP price above the uptrend line.

Cardano price analysis

The bulls have been attempting to drive Cardano (ADA) above the 20-day EMA ($0.25) for the past few days, yet the bears have not given in.

The flattening 20-day EMA and the RSI just underneath the midpoint demonstrate an equilibrium between supply and demand. If buyers can keep the price above the 20-day EMA, ADA price will likely attempt to rally to the overhead resistance at $0.28.

On the other hand, if the price drops sharply from the current level, it will show that the bears are selling on relief rallies. A break and close below the $0.24 support will signify the start of the next leg of the downtrend. The next support on the downside is at $0.22.

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Dogecoin price analysis

Dogecoin (DOGE) has been trading near the 20-day EMA ($0.06) for the past few days, indicating that the bears are defending the level aggressively. Despite the bears’ efforts, the bulls have not allowed the price to slip below $0.06, which is a positive sign for the crypto bull. If the 20-day EMA is breached, the DOGE/USDT pair could rally to $0.07 and later to $0.08.

Conversely, if the price turns down sharply from the current level, it will suggest that the sentiment remains negative and traders are selling on rallies. The bears will then aim to push the price below $0.06 and challenge the critical support at $0.055.

Solana price analysis

After several days of trying to rise above the 20-day EMA ($19.55), Solana (SOL) finally managed to break through on Sep. 18.

The 20-day EMA is leveling out and the RSI is just above the midpoint, indicating that the bears may be losing their grip. Buyers are likely to try and push the price to the 50-day SMA ($21.14) and then to the overhead resistance at $22.30, which could trigger strong selling from the bears.

This optimistic outlook could be invalidated in the near future if the SOL/USDT pair reverses and drops below $18.50. The pair could then test the strong support at $17.33.

Toncoin price analysis

Toncoin (TON) is at the moment in a powerful uptrend, as the crypto bulls are attempting to push the price above $2.59, yet the bears have been able to maintain their position.

In spite of the resistance at $2.59, the bulls have not given up and are still holding their positions, expecting that the TON/USDT pair will reach $2.90 and eventually $3.28.

The moving averages indicate that the buyers have the upper hand, however, the RSI is showing an overbought level which could lead to a correction or consolidation in the short term. The first support for TON price is $2.25 and the next one is $2.07.

Polkadot price analysis

The bulls are trying to push the price of Polkadot (DOT) above the breakdown level of $4.22, indicating that demand is weakening at higher levels.

The bears will attempt to gain an advantage by forcing the price below the immediate support at $4. If they succeed, the DOT/USDT pair could drop to the crucial support at $3.90. A break and close below this level could start the next leg of the downtrend.

Alternatively, if the price turns up from the current level and rises above the $4.22-4.33 resistance zone, it could result in a short covering. The pair may then reach the 50-day SMA ($4.50) and thereafter climb to the downtrend line.

Polygon price analysis

The bulls are attempting a comeback as Polygon (MATIC) rose and closed above the 20-day EMA ($0.54) on Sep. 19.

The 20-day EMA is likely to be a battleground between the bulls and the bears. If the bulls manage to keep the price above the 20-day EMA, the MATIC/USDT pair may climb to the overhead resistance at $0.60 and then to $0.65.

On the other hand, if the bears push the price below the 20-day EMA, it will indicate that higher levels continue to attract selling. The bears will then attempt to push the price below $0.49.

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