Price analysis 9/20: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, AVAX

The crypto markets and the U.S. disinterestedness markets sold off on Sept. 20 on fears that the collapse of Chinese belongings behemothic Evergrande could not merely hurt Prc merely likewise take wider implications in other markets.

When the sentiment is bearish, traders dump positions that they perceive as risky in favor of safety-haven trades. This could be i of the reasons for the sharp autumn in Bitcoin (BTC) and most major altcoins on Sept. xx.

*Daily cryptocurrency market operation. Source:* *Coin360*

Data from Bybt shows that Bitcoin held in Binance wallets has surged by 29,717 Bitcoin in the past 30 days. History suggests that an increase in the Bitcoin balance on Binance has resulted in a drib in Bitcoin'southward price.

The Bitcoin residuum on Binance rose from 99,700 BTC on April xx to 347,590 BTC on June 26. During this period, Bitcoin's price plunged from near $57,000 to roughly $30,000.

Now the question is, could the sell-off deepen or will lower levels concenter aggressive buying from traders? Allow'southward analyze the charts of the top 10 cryptocurrencies to discover out.

BTC/USDT

Bitcoin's selling exacerbated after bears pulled the price beneath the moving averages. The price activeness of the past few days has formed a head and shoulders blueprint that will consummate on a breakup and close beneath the neckline.

The moving averages are on the verge of a bearish crossover and the relative forcefulness index (RSI) has dropped beneath 41, indicating that bears are in control. If the price sustains below the neckline, the BTC/USDT pair could driblet to $37,332.lxx and then to the blueprint target of $32,423.05.

Opposite to this assumption, if the price rebounds off the neckline, the bulls will again effort to push the cost toward $50,000. However, the bears are likely to defend the 20-twenty-four hours exponential moving average (EMA) ($47,014) aggressively.

If the price turns down from this resistance, it volition betoken that sentiment has turned negative and traders are selling on rallies. The first sign of forcefulness will be a break and close in a higher place $48,843.xx.

ETH/USDT

Ether (ETH) bounced off the support at $iii,377.89 on Sept. 18, but the bulls could non sustain the price to a higher place the twenty-twenty-four hour period EMA ($3,402). This indicates that traders airtight positions at higher levels.

If the price breaks and closes below $3,000, the ETH/USDT pair will complete a bearish head and shoulders pattern. The target objective of this setup is $1,972.12.

The 20-twenty-four hours EMA has started to reject and the RSI is beneath 42, indicating that the path of least resistance is to the downside.

On the contrary, if bulls defend the $three,000 level aggressively, the pair could again rise toward the overhead resistance at $iii,377.89. The bears are likely to defend this level but if bulls overcome this resistance, information technology volition signal that the correction may be over.

ADA/USDT

The bulls defended the 50-day simple moving boilerplate (SMA) ($2.31) on Sept. 18 merely could not build on the rebound. Sustained selling pulled Cardano (ADA) beneath the 50-day SMA on Sept. 19.

The selling escalated on Sept. xx and the ADA/USDT pair plunged to critical support at $i.94. The strong rebound off this level suggests that bulls are accumulating on dips.

If buyers sustain the bounce, the pair could gradually move up toward the overhead resistance at $2.47. The bears are probable to sell on relief rallies to the 20-24-hour interval EMA ($2.45). If the price turns down from this resistance, the pair could again drop to $one.94.

A pause and close above the 20-day EMA volition be the commencement sign that the sellers may be losing their grip.

BNB/USDT

Binance Coin (BNB) broke below the 50-twenty-four hours SMA ($422) on Sept. 17 and subsequent attempts by the bulls to repossess the level failed. This suggests that bears are selling on every minor rally.

The selling picked up momentum on Sept. 20 and the BNB/USDT pair dropped close to the critical support at $340. This is an important level for the bulls to defend because a intermission below it could open the doors for a decline to $300 and so $250.

The moving averages accept completed a bearish crossover and the RSI is in the negative zone, indicating that bears have the upper hand.

If the price rebounds off $340, the pair could rising to the 20-twenty-four hours EMA. This level is likely to deed as a strong resistance. The bulls will have to push button and sustain the price above $422.80 to point that the correction may be over.

XRP/USDT

Ripple (XRP) had been trading near the breakout level at $1.07 for the past few days, but the failure of the bulls to push the price above the 20-day EMA ($1.09) showed that bears were selling on rallies.

The selling intensified after the bears pulled and closed the price below the 50-day SMA ($i.08) on Sept. xix. The moving averages are on the verge of a bearish crossover and the RSI has dropped into the negative zone, indicating that bears are in control.

If the price sustains below $0.95, the XRP/USDT pair could drop to $0.75. Any relief rally from the current level is likely to face stiff resistance at the xx-day EMA. A breakout and shut above $1.xiii will signal that bulls are attempting a comeback.

SOL/USDT

The long tail on the Sept. 17 candlestick shows that bulls aggressively bought the dip below the 20-solar day EMA ($148). That was followed by a stiff bounce of Sept. 18 merely the bulls could not sustain Solana (SOL) above the first resistance at $170.

This may have attracted profit-booking from bulls and shorting from aggressive bears. The 20-mean solar day EMA has flattened out and the RSI is close to the midpoint, indicating that bulls are losing their grip.

If the price sustains below the 20-solar day EMA, the SOL/USDT pair could driblet to the 61.eight% Fibonacci retracement level at $123.42. A interruption and close below this back up will suggest that the uptrend could be over.

The bulls volition have to push and sustain the cost above $171.47 to betoken the end of the cosmetic phase.

DOT/USDT

Polkadot'due south (DOT) rebound off the 20-twenty-four hours EMA ($32.12) on Sept. 18 was followed past an inside-day candlestick blueprint on Sept. nineteen. This showed indecision among the bulls and the bears.

This doubt resolved to the downside on Sept. 20 with a break below the xx-day EMA. The selling picked up momentum and dropped to critical support at the fifty-twenty-four hours SMA ($27.29). This is an important support for the bulls because they had successfully defended information technology on Sept. 7.

If the DOT/USDT pair rebounds off the electric current level, the bears are likely to sell on rallies to the twenty-24-hour interval EMA. If the price turns down from this level, it volition propose that the sentiment has turned negative and that will increase the prospects of a suspension beneath the l-day SMA. This negative view will invalidate if the price turns up and rises above $34.

Related: Ethereum forming a double top? ETH cost loses 12.5% amongst Evergrande contamination fears

DOGE/USDT

Dogecoin'southward (DOGE) tight range trading of the by few days resolved to the downside on Sept. twenty as bears pulled the price to the stiff support at $0.21.

The falling 20-day EMA ($0.25) and the RSI near the oversold territory indicate that bears are in control. If they can sink and sustain the price beneath the $0.21 support, the DOGE/USDT pair could slide to $0.15.

If the price rebounds off the electric current level, the bulls will over again attempt to push the pair above the 20-day EMA. If they manage to do that, the pair could rising to the downtrend line. Alternatively, if the price turns down from the 20-twenty-four hour period EMA, it volition increment the prospects of a interruption beneath $0.21.

UNI/USDT

The bulls attempted a recovery on Sept. eighteen but could non push Uniswap (UNI) higher up the xx-day EMA ($25.09). This showed that bears are aggressively defending the xx-day EMA.

The UNI/USDT pair continued lower and the bears pulled the cost below the critical support at $21 today. If the price sustains beneath this back up, the pair could witness panic selling and decline to the next support at $18.

The downsloping 20-mean solar day EMA and the RSI in the negative zone indicate an advantage to bears. This negative view will invalidate if the cost turns up from the current level and rises above the downtrend line. Such a move will indicate stiff accumulation at lower levels.

AVAX/USDT

The long wick on the Sept. xviii and nineteen candlestick showed that traders were booking profits at higher levels. The selling intensified today and Avalanche (AVAX) dropped to the 20-day EMA ($55.16).

The strong rebound off the 20-day EMA suggests that sentiment remains positive and traders are accumulating on dips. If the price sustains above $sixty.04, the bulls will again attempt to push the AVAX/USDT pair toward the all-time high at $76.27.

On the contrary, if the price turns down from the current level and breaks below the twenty-twenty-four hours EMA, the bearish momentum could pick up as traders may blitz to the exit. That could pull the toll down to $48 and then to the 50-day SMA ($38.56) where buyers may step in to arrest the decline.

The views and opinions expressed here are solely those of the author and practise not necessarily reflect the views of Cointelegraph. Every investment and trading move involves run a risk. You should conduct your ain research when making a conclusion.

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