Crypto analysis of SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, TON, SOL on 9/18.
Price analysis 9/18: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, TON, SOL

The bears’ inability to drive Bitcoin’s price below $25,000 support sparked buying pressure last week. The bullish sentiment has been further bolstered at the beginning of the new week, with buyers striving to keep the crypto’s (BTC) price above $27,000.

The market seems to be optimistic that the Federal Reserve will not raise rates again this year. The CME FedWatch Tool shows a 58% chance that the Fed funds rate will remain at the same level even in the December meeting.

That could be why the strength of the United States Dollar Index (DXY) has not had a negative effect on the crypto’s price. Nevertheless, traders should be cautious, since the last 10 days of September are known to favor the bears. According to the Carson Group, the S&P 500 Index (SPX) has been positive on average only for two days between Sept. 20 and 30 since 1950.

Will Bitcoin and other altcoins continue their recovery, or will the bears drag the price back down? Let’s analyze the crypto charts to find out.

S&P 500 Index price analysis

The S&P 500 Index crypto bullishness pushed it above the moving averages on Sept. 14, but the bulls could not keep up the momentum and clear the overhead hurdle at the downtrend line.

The bears sold aggressively at the downtrend line and pulled the price back below the moving averages on Sept. 15. Sellers will try to further strengthen their position by pulling the crypto down below the next support.

If bulls want to gain the upper hand, they will have to quickly drive the crypto ada price above the downtrend line. There is a minor resistance at 4,542, but if this level is crossed, the index could sprint toward 4,607.

U.S. Dollar Index price analysis

The U.S. Dollar Index has continued to crypto bullish in the past few days, but it is likely to face stiff resistance at 106.

If buyers do not allow the price to dip below the 20-day exponential moving average (EMA) at 104, it will enhance the prospects of a crypto ada rally above 106. If that happens, the index could pick up momentum and soar to 108.

Alternatively, if the price turns crypto down sharply from 106, it will suggest that bears are defending this level aggressively. A crypto drop below the 20-day EMA could sink the price to the 50-day simple moving average (SMA) of 102. That could keep the price stuck between 101 and 106 for some more time.

Bitcoin price analysis

Since Sept. 14, Bitcoin has held above the 20-day EMA ($26,394), indicating that bulls have converted the level into support. Buyers are attempting to further strengthen their position by pushing the price above the 50-day SMA ($27,255).

The bears are anticipated to put up a strong resistance in the region between the 50-day SMA and the overhead resistance at $28,143. If the price abruptly drops from this zone, it will imply that the BTC/USDT pair may remain range-bound between $24,800 and $28,143 for a few days.

On the other hand, if the bulls drive the crypto up above $28,143, it will open the path for $30,000 and $31,000 as the next crypto ada targets.

In conclusion, time is running out for the bears. If they want to regain control, they will have to quickly pull the crypto down below the 20-day EMA.

Ether price analysis

After a period of trading around the 20-day EMA ($1,639), the bulls managed to push Ether (ETH) above the overhead resistance on Sept. 18.

The 20-day EMA is flattening out and the relative strength index (RSI) is close to the midpoint, suggesting that the crypto bulls are staging a comeback. If buyers can keep the price above the 20-day EMA, the ETH/USDT pair could climb to the 50-day SMA ($1,712) and then to $1,750. A break above this level would indicate a bullish double bottom pattern with a target of $1,959.

Nevertheless, the bears may have other plans. They could try to drag the price back below the 20-day EMA and trap the overly optimistic bulls. A breakdown under $1,600 could start a bearish move towards presumably strong support at $1,531.

BNB price analysis

The crypto bulls have pushed BNB (BNB) above the 20-day EMA ($215) on Sept. 17, suggesting that the bearish momentum is fading. The price could next reach the 50-day SMA ($224).

The bears are likely to put up a fight in the zone between the 50-day SMA and $235. If the price reverses from this zone, it will signal that the BNB/USDT pair could remain range-bound between $200 and $235 for some time. The flat 20-day EMA and the RSI near the midpoint also point to a consolidation in the near term.

Alternatively, if the bears sink the price below the 20-day EMA, the pair could again test the key support near $200. The repeated testing of a support level within a short period tends to weaken it. If this level cracks, the pair may slide to $183.

XRP price analysis

The bulls have not given up on XRP (XRP) and are attempting to push the price above the resistance near the 20-day EMA ($0.50). If successful, XRP/USDT pair could rally to $0.56.

Conversely, if the crypto drops from the current level, it will indicate that the bears are defending the 20-day EMA. A minor support exists at the uptrend line, but if it breaks, the pair could slide to $0.45 and possibly to $0.41.

Cardano price analysis

Cardano (ADA) is still trapped between the 20-day EMA ($0.25) and the key support at $0.24. This tight trading range is unlikely to persist for long, and a breakout may be imminent.

The bullish divergence on the RSI indicates that the selling pressure is decreasing. If the market sentiment turns in favor of the bulls, it could lead to a possible rally to the overhead resistance at $0.28.

On the contrary, if the crypto drops below $0.24, it would be a sign that the bears have taken control. That could mark the beginning of the next leg of the downtrend. The ADA/USDT pair might then slump to $0.22.

Dogecoin price analysis

Dogecoin (DOGE) has been trading within the range of the 20-day EMA ($0.06) and the horizontal support at $0.06 for the past few days, as seen on crypto charts.

Typically, a contraction in volatility is followed by a range expansion. If the DOGE/USDT pair rises and closes above the 20-day EMA, it will indicate that bulls are attempting a comeback. The pair could then rally to $0.07. Buyers will need to break through this resistance to start an up move to $0.08.

This optimistic outlook will be invalidated if the price turns down and dives below the $0.06 support. That could pull the price down to the next support at $0.055. The bulls are expected to guard this level with vigor, as seen in the crypto fed meeting.

Toncoin price analysis

The long wick on Toncoin’s (TON) Sept. 16 and 17 crypto charts indicates that traders are booking profits near the overhead resistance at $2.59.

The overbought level on the RSI suggests a possible correction or range formation in the near term. However, the crypto bulls have not given up and are again trying to propel the TON price above $2.59. If they can pull it off, TON/USDT could pick up momentum and skyrocket to $3.

The important support to watch for on the downside is $2.25. If this level gives way, the pair could start a deeper correction to the next support at $2.07.

Solana price analysis

After trading near the 20-day EMA ($19.47) for the past few days, Solana (SOL) broke above the resistance on Sept. 18.

The crypto charts show that the 20-day EMA is flattening out and the RSI is near the midpoint, indicating that the bears may be losing their grip. Buyers will try to cement their position further by pushing the price to the overhead resistance at $22.30. This level is likely to attract crypto bearish sellers.

If the bulls fail to hold the price above the 20-day EMA, it will suggest that the crypto fed meeting bears are selling at higher levels. The first support on the downside is $18.50, and if this level is violated, SOL risks descending toward the next major support at $17.33.

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