Price: $0.19467 -0.3742%
Market Cap: 28.56B 1.1304%
Volume (24h): 4.33B 0.2%
Dominance: 1.1304%
Price: $0.19467 -0.3742%
Market Cap: 28.56B 1.1304%
Volume (24h): 4.33B 0.2%
Dominance: 1.1304% 1.1304%
  • Price: $0.19467 -0.3742%
  • Market Cap: 28.56B 1.1304%
  • Volume (24h): 4.33B 0.2%
  • Dominance: 1.1304% 1.1304%
  • Price: $0.19467 -0.3742%
Home > Information news > Price analysis 9/11: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Price analysis 9/11: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Release: 2024/09/12 04:10 Reading: 676

Original author:Cointelegraph

Original source:https://coinmarketcap.com/community/articles/66e1ee7c641ecd782dc5d128

Price analysis 9/11: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Cryptocurrency Market Analysis

The United States consumer price index for August rose 0.2% for the month, in line with estimates, but risk assets reacted negatively. Initially, the S&P 500 Index (SPX) fell more than 1.5%, but it has since recovered and turned positive. Bitcoin (BTC), which had dipped near $55,500, has also rallied back above $57,500, demonstrating strong buying at lower levels.

The next key catalyst for risk assets could be the interest rate cut anticipated from the US Federal Reserve at its upcoming meeting on Sept. 18. CME Group's FedWatch Tool currently shows an 85% probability of a 25-basis point cut.

Bitcoin's recovery above $58,000 on Sept. 9 appears to have lifted sentiment. Data from Farside Investors reveals positive inflows into US-based exchange-traded funds on Sept. 9 and Sept. 10.

Top 10 Cryptocurrency Analysis

Bitcoin (BTC)

  • Bitcoin's recovery faces resistance at the 20-day exponential moving average ($57,841), but strong buying near $55,724 provides support.
  • A break above the 20-day EMA could lead to a potential rally towards $65,000.
  • Conversely, a break below $55,724 would signal continued selling pressure, potentially leading to a decline towards $49,000.

Ether (ETH)

  • Ether has pushed above the breakdown level of $2,300, but faces resistance near the 20-day EMA ($2,451).
  • A sustained close below $2,300 could lead to a drop towards $2,111 and psychological support at $2,000.
  • To regain momentum, buyers need to push the price above the 20-day EMA and rally towards the 50-day SMA ($2,682).

BNB (BNB)

  • BNB's recovery faces selling at the 20-day EMA ($522), indicating resistance at higher levels.
  • A rally above the moving averages could open the way for a potential surge towards $600 and $635.
  • A break below the $495 to $460 support zone could trigger a downtrend towards $360.

Solana (SOL)

  • Solana's relief rally faces resistance at the 20-day EMA ($136) and could fall towards the pivotal support at $116.
  • A break above the 50-day SMA ($148) would signal reduced selling pressure and potential for a rally towards $164.

XRP (XRP)

  • XRP has failed to clear the breakdown level of $0.54 and is vulnerable to a slide towards the $0.46 to $0.41 support zone.
  • A rally above the 50-day SMA ($0.57) would indicate bullish momentum and potential for a surge towards $0.64.

Dogecoin (DOGE)

  • Dogecoin is facing resistance near the downtrend line of the falling wedge pattern and could slump towards $0.09 if it falls below the 20-day EMA ($0.10).
  • A potential trend change could occur if buyers drive the price above the downtrend line and attempt a rally towards $0.14.

Toncoin (TON)

  • Toncoin has broken above the 20-day EMA ($5.34) but struggles to sustain the higher levels.
  • A range between the 50-day SMA ($5.97) and $4.50 is possible and a break below $4.50 could signal a head-and-shoulders pattern and a potential downtrend towards $3.50.

Cardano (ADA)

  • Cardano is experiencing a battle between bulls and bears near the 20-day EMA ($0.34).
  • A drop below $0.33 could lead to a slide towards $0.31, while a break above the 50-day SMA ($0.35) would suggest bullish momentum.

Avalanche (AVAX)

  • Avalanche is finding it challenging to break above the resistance line of the descending channel.
  • A drop below the moving averages could lead to a decline towards $17.29 and the channel's support line.
  • A turn from the 20-day EMA ($22.98) could signal buying on dips and potential for a rally above the descending channel towards $29 and $33.

Shiba Inu (SHIB)

  • Shiba Inu is facing resistance at the 20-day EMA ($0.000014) and could plunge towards $0.000011 if it falls below the $0.000013 support.
  • A break above the 50-day SMA ($0.000014) could lead to a surge towards $0.000016.

This analysis does not constitute investment advice or recommendations. Cryptocurrency trading involves significant risk, and investors should conduct their own research before making any decisions.

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