Coinbry

  • Market Cap: $2,668,284,045,473.10
  • 24h Vol: $87,169,715,802.25
  • BTC Dominance: 49.87%
September 20 Price Analysis: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Solana (SOL), TON Crystal (TON), Polkadot (DOT), and Polygon (MATIC)

September 20 Price Analysis: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Solana (SOL), TON Crystal (TON), Polkadot (DOT), and Polygon (MATIC)

Bitcoin and other cryptocurrencies are expected to experience increased volatility following the Federal Reserve’s rate decision on September 20. While long-term investors remain unfazed and continue to accumulate Bitcoin, institutional activity has slowed down as investors await regulatory and macroeconomic clarity. Outflows from exchange-traded products have reached $455 million over the past nine weeks. Analysts are divided on Bitcoin’s near-term price action, with some speculating that it could start an up-move but cautioning that it is too early to tell. It is advised for traders to wait on the sidelines until volatility subsides and a clear direction emerges.

Key Points:

– Bitcoin is facing resistance at the 50-day simple moving average, indicating bearish pressure.

– Ether has been maintaining above the breakdown level of $1,626, but the bulls have failed to build on this strength.

– Buyers attempted to push BNB above the overhead resistance at $220, but the bears successfully defended the level.

– XRP rose above the 20-day EMA, indicating bullish momentum, but faces resistance at $0.56.

– Cardano has been struggling to break above the 20-day EMA, suggesting a balance between supply and demand.

– Dogecoin has been trading near the 20-day EMA, with the bears defending the level aggressively.

– Solana finally overcame resistance at the 20-day EMA, indicating a potential bullish move towards $22.30.

– Toncoin is in a strong uptrend, with buyers attempting to push the price above $2.59.

– Polkadot is struggling to break above the breakdown level of $4.22, indicating a lack of demand at higher levels.

– Polygon rose above the 20-day EMA, suggesting a potential comeback by the bulls.

Summary:

Bitcoin and other cryptocurrencies are likely to experience increased volatility following the Federal Reserve’s rate decision. Long-term investors remain unfazed, but institutional activity has slowed down. Analysts are divided on Bitcoin’s near-term price action, advising traders to wait for clarity. Key altcoins, including Ether, BNB, XRP, Cardano, Dogecoin, Solana, Toncoin, Polkadot, and Polygon, are facing various levels of resistance and support.

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