BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin has been trading along with its twenty-day exponential MA in the upper half region of Bollinger Bands for 5 days now. This shows that traders are still accumulating more and more at the current levels. In the price chart below, we can see that the bulls are trying to push the asset above the $11K level but could make a high just below it at $10,986 and closed below its 20-day EMA (yellow line) at $10,714 on Monday, 28th September 2020. Bulls saved Bitcoin from going down below the basis of Bollinger Bands and the $10.5K support and bought back the low a few points below it from $10,656 today. As we had discussed in our previous price analysis, bulls continue to accumulate more at lower levels attracting traders to buy more. We can also see how bears failed to push Bitcoin back into the lower half zone of Bollinger Bands and take over.
Key points to mark:
Immediate resistance that BTC is facing = $10,735 (20 EMA). If bulls take the price above this level, BTC will again test $11,000 resistance, followed by $11,111 (50 MA) + $11,170 (upper BB), and then $11,400 (downtrend line) + $11,500 before rising towards $12,325 resistance level.
Immediate support that BTC is facing = $10,658.6 (basis of BB) + $10,500. If the price falls below these levels, $10,300 (uptrend line) will be tested, followed by $10,147 (lower BB) support before BTC declines below $10,000.
Indicators
The MACD line is moving towards 0 above the signal line which is parallel to it. RSI has crossed above the midpoint and slants up at 52, indicating how bulls are in command.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum continues to trade near its twenty-day exponential MA and the basis (middle line) of Bollinger Bands. The bulls are trying to push the price above them, but require some more magnitude of momentum. Bulls tried to push the price above the basis of Bollinger Bands by making a high a few points above it at $368.5 and closed the price below it at $354.5 on Monday, 28th September 2020. The bulls saved the price from going below a low of $352.7 today. We can see in the day chart below that these bulls are trying hard to push Ether to the upper half region of Bollinger Bands. Bulls need to induce more positive momentum in Ethereum's price movement and grow stronger, otherwise, the price might consolidate near the 20-day EMA (yellow line) for a few more days. Traders and investors patiently wait for the uptrend to follow.
Key points to mark:
Immediate resistance that ETH is facing = $362 (20 EMA) + $363 (basis of BB) + $365. If bulls can take the price above these levels, ETH will test $380 + $386 (50 MA) + $397.9 (upper BB), before rising to $410 resistance level.
If bears take over and push ETH to lower levels, $328.6 (lower BB) support will be tested, followed by $316.5, and then $288.7 before declining to $253 support level.
Indicators
MACD has begun to accelerate with the MACD line sloping up towards 0 and the signal line parallel to it. RSI is slanting upwards at $49 with demanding bulls.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple is trading between its twenty-day exponential MA and the basis (middle line) of Bollinger Bands, struggling to cross above the 20-day EMA. The bulls were trying to take the price towards the upper Bollinger Band. In the one-day chart below, we can see how the bulls made a high above Ripple's twenty-day exponential MA but below the upper BB at $0.249 and closed the price exactly at the lower support (depicted by the neon green line) at $0.241 level on Monday, 28th September 2020. The bulls did not allow the price to slip below the lower support and hence the dip was bought back below it at a low of $0.240 today. These bulls will again try to take the altcoin towards the $0.255 resistance and increase their strength. We can see how strongly bears have mounted themselves at the lower support of $0.241 for the entire month, but the narrowing Bollinger Bands is good hope for traders and investors as it might lead to an uptrend soon.
As the twenty-day EMA and the basis of BB have started to slope up, we can surely accumulate more in our Ripple bags because the price will rise anytime soon.
Key points to mark:
Immediate resistance that XRP is facing = $0.242 (basis of BB) + $0.244 (20 EMA) + $0.255 + $0.256 (upper BB). If bulls push XRP above these levels, $0.264 (50 MA) will be tested, followed by $0.271, before rising to $0.285 resistance level.
Immediate support that XRP is facing = $0.241. If bears push XRP below this level, it will test $0.227 (lower BB) support, below which XRP might decline to $0.190 level.
Indicators
The MACD line is sloping up touching above the signal line which is moving parallel to 0. RSI has significantly sloped up at 49 level indicating bulls have taken over.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin is still struggling to cross above the $46 level as bears are pulling it down again and again. But bulls are maintaining their strength and not allowing the price to go below $44. The bulls are trying to take the price towards the support line of the symmetrical triangle, but could only make a high a few points below it at $47 and closed the price at $45 on Monday, 28th September 2020. The bulls saved the asset from going below the lower Bollinger Band by buying the low at $44.8 level today. These bulls require more strength and momentum to push Litecoin back inside the symmetrical triangle and the upper half zone of Bollinger Bands, otherwise, it might consolidate around the $46 level for a few more days.
Key points to mark:
Immediate resistance that LTC is facing = $46 + $47 (basis of BB and 20 EMA). If bulls can take the price above these levels, LTC will test $51 (upper BB), followed by $53 (50 MA) before rising to the $60.5 resistance level.
Immediate support that LTC is facing = $43 (lower BB). If bears push the price below this level, it will again test the crucial $39 support, below which LTC might decline below the $32 support level.
Indicators
The MACD line is sloping up above the signal line, both still moving below 0. RSI is sloping up at 44.9 level showing how bulls have taken the upper hand.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash has successfully entered and is trading in the upper half region of Bollinger Bands, finally. The bulls are trying to take the price towards the upper Bollinger Band. This simply confirms our previous analysis, i.e. the dragonfly Doji patterned candle gave the predicted results. We can now see Bitcoin Cash making its new path upwards. We can see in the below chart how bulls took the price above the twenty-day exponential MA (yellow line) and closed the price below it, but above the basis (middle line) of Bollinger Bands. This indicates that even though bears are trying to push the price to the lower half again, the bulls are not allowing it to happen. The bulls made a high a few points above the 20-day EMA at $234 and closed the price a few points below it at $225.5 on Monday, 28th September 2020. The bulls did not allow the altcoin to slip off below the basis of Bollinger Bands by buying it back from a low of $223 today. If the bulls increase in strength and momentum, we can expect the asset to break out above the upper Bollinger Band soon.
Key points to mark:
Immediate resistance that BCH is facing = $227.6 (20 EMA) + $238.7 (upper BB). If bulls take BCH above this level, it will face resistance at $246, followed by $254.6 (50 MA) + $260 before rising to $280.5 resistance level.
Immediate support that BCH is facing = $224.6 (basis of BB). If bears push BCH below this level, it will test $217.5 support, followed by $200 before declining to $140 level.
Indicators
The MACD line is sloping upwards above the signal line, both still below 0. RSI has significantly sloped up at the midpoint at 50.8 level, indicating that bulls have picked up a lot of momentum.
