BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin, after breaking above the $10.5K resistance, has now crossed above both, its twenty-day exponential MA, and the basis (middle line) of Bollinger Bands with solid bull momentum. It's currently trading between the $11K resistance and the basis of BB. Bulls have increased a lot of strength to take the price above $11,000, by making a high few points above it at $11,105 and closed the price below it at $10,971 on Wednesday, 16th September 2020. The bulls are trying to save the asset from going down below its 20-day EMA by buying back the low from a few points below it at $10,682, today. Both, the twenty-day EMA, and the basis of Bollinger Bands have begun to slope up. Bulls need to maintain their increasing momentum to take the asset back above the $11,000 resistance.
Key points to mark:
Immediate resistance that BTC is facing: $11,000. If bulls take the price above this level, it will test $11,280 (50 MA), followed by $11,500 before rising to $11,976.6 (upper BB) + $12,325 resistance levels.
Immediate support that BTC is facing: $10,785 (basis of BB) + $10,767 (20 EMA). If the price falls below these levels, $10,500 will be tested, followed by $10,000 support, before it goes down to $9594 (lower BB) support.
Indicators
MACD has increased its acceleration. The MACD line has sloped up crossing above the signal line, both still below 0. RSI has sloped up above the midpoint at 52 with bulls in demand.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum is currently trading at the $365 support level and has made a long-legged Doji patterned candle. This means that we cannot be sure of the next move due to the indecision prevailing as indicated by the long-legged Doji. As the bulls aim to push the price above the $380 resistance level, they could make a high few points below the $380 level at $374 and closed the price at $365.6 on Wednesday, 16th September 2020. The bulls are currently not allowing the asset to slip down below the $365 mark by buying the low from a few points below it at $355.8, today. The fifty-day MA continues to slope up and has crossed above both, the twenty-day exponential MA, and the basis (middle line) of Bollinger Bands. Traders & investors who smartly invested in the Ethereum project are eagerly waiting for it to enter back into the upper half of the Bollinger Bands region.
Key points to mark:
Immediate resistance that ETH is facing: $377 (20 EMA) + $384 (basis of BB) + $389.7 (50 MA). If bulls can take the price above these levels, ETH will test $410 before rising to $437 and then $455 (upper BB) resistance levels.
Immediate support that ETH is facing: $365. If bears push ETH below this level, it will test $312.7 (lower BB) + $316.5 before going down to test $288.7 support level.
Indicators
MACD has reduced its deceleration a lot and the MACD line is moving in negative momentum, parallel to the signal line, both below 0. RSI has flattened at 46.8 indicating bulls have the upper hand.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple continues to trade between the $0.255 to $0.241 levels and bulls continue to try their best to push the price above $0.255. Bulls have increased some momentum and made a high at $0.251 and also closed the price at $0.247 on Wednesday, 16th September 2020. Bulls are trying to save the asset from slipping below the lower support of $0.241 by buying the low at $0.234, today. Bulls need to increase some more magnitude of their momentum to take the asset above the $0.255 mark.
Key points to mark:
Immediate resistance that XRP is facing: $0.253 (20 EMA) + $0.254 (basis of BB). If bulls push XRP above these levels, $0.271 + $0.274 (50 MA) will be tested, followed by $0.285, before testing $0.290 (upper BB) resistance level.
Immediate support that XRP is facing: $0.241. If bears push XRP below this level, it will test $0.218 (lower BB), before declining below $0.200 support level.
Indicators
The MACD line has sloped up, touching the signal line, both still moving in negative values below 0. RSI is slightly sloping up at 44.6, out of the overbought region, indicating bulls have the upper hand.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin continues to trade between the $51 and $46 levels and made a lower high today. The bulls are trying their best to take the price above the $51 mark but could take LTC to a high of $48.8 and closed the price above the $46 level at $47.8 on Wednesday, 16th September 2020. Bulls are not allowing the altcoin to sink below the $46 mark by buying the low at $47, today. The twenty-day exponential MA and the basis (middle line) of Bollinger Bands including both the bands are significantly sloping down. If bulls increase more strength and momentum to push Litecoin above the $51 level and maintain their strength, we can expect it to consolidate in the lower Bollinger Band zone for some more time. Traders and investors after taking advantage of the lower dips, now wait for this price correction to take an uptrend soon.
Key points to mark:
Immediate resistance that LTC is facing: $51.2 (20 EMA) + $51.9 (basis of BB). If bulls can take the price above these levels, LTC will test $56 (50 MA), followed by $60.5 and then $62.8 (upper BB) resistance level.
Immediate support that LTC is facing: $46. If bears push the price below this level, LTC will test $41 (lower BB) before it falls to the $39 support level.
Indicators
The MACD line is moving further into the negative zone below 0, along with the signal line which is currently parallel to both. RSI seems to slope down towards the overbought zone at 40.6 level.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash continues to trade between the $246 and $217.5 levels and crossed above the minor resistance of $235. The bulls tried to take the price above it but could make a high of $235.5 in the lower half of BB and closed the price at $230.8 on Wednesday, 16th September 2020. The bulls are currently trying their best to save the cryptocurrency from slipping off below the $217.5 mark by buying it back from a low of $227 level itself, today. Traders and investors, while filling in more at lower levels, are eagerly waiting for the next move by bulls to take Bitcoin Cash upwards. The 20 EMA and the basis of BB including both the lower and upper bands are sloping down significantly, but if bulls increase more strength and momentum, this altcoin can go above the $260 level and into the upper half region of Bollinger Bands to witness profitable levels again.
Key points to mark:
Immediate resistance that BCH is facing: $240 (20 EMA) + $240.8 (basis of BB) + $246. If bulls take BCH above these levels, it will face resistance at $272.8 (50 MA), followed by $280.5 before rising to $286 (upper BB) + $330 resistance levels.
Immediate support that BCH is facing: $217.5. If bears push BCH below this level, it will test $200 support, followed by $196 (lower BB) below which the price might sink further into lower levels.
Indicators
MACD has increased its acceleration. The MACD line has sloped up crossing above the signal line, both still moving in negative momentum below 0. RSI is sloping down at 42, but out of the overbought area, indicating that bulls are back in the game.
