Price analysis 9/20: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Bitcoin Price Analysis

Bitcoin (BTC) reached $64,000 on September 20 but failed to sustain the level. This indicates that bears continue to sell rallies near resistance.

CryptoQuant's Avocado_onchain notes that the Short-Term Holder (STH) realized price, which represents the average purchase price of investors holding coins for less than 155 days, is close to $62,000. The STH price level acts as a support during uptrends, and if buyers can defend it during dips, Bitcoin could rebound.

According to CryptoQuant founder Ki Young Ju, institutional investors have reduced their Bitcoin shorting. Additionally, spot Bitcoin exchange-traded funds (ETFs) recorded inflows of $158 million on September 19.

Bitcoin broke out of a symmetrical triangle pattern on September 18, signaling bullish sentiment. The 20-day exponential moving average ($59,629) slopes upward, and the relative strength index (RSI) is positive. Resistance remains at $65,000, but a breakout could lead to a rise to $70,000. The 20-day EMA provides crucial support.

Ether Price Analysis

Ether (ETH) has remained above the uptrend line, indicating strong support. Bulls pushed the price above the 20-day EMA ($2,424) on September 19 and the 50-day SMA ($2,527) on September 20. This opens the way for a rally to the breakdown level of $2,850. Above $2,850, the ETH/USDT pair could reach $3,400. Failure to hold above the 20-day EMA could indicate a return of bearish pressure.

BNB Price Analysis

BNB (BNB) bounced off moving averages on September 17, indicating positive sentiment. The pair is likely to rise towards the $600-$635 resistance zone, where bears are expected to resist. A breakout could lead to a further rally, while a failure to break through resistance could result in a stay within the range.

Solana Price Analysis

Solana (SOL) surged above the 50-day SMA ($141) on September 19, signaling the continuation of the $116-$210 range. Bulls could target $164, where bears may resist. Failure to break above $164 could indicate a continued stay within the range.

XRP Price Analysis

XRP (XRP) has traded within a tight $0.56-$0.60 range, indicating a stalemate between bulls and bears. The 20-day EMA ($0.57) and positive RSI suggest bullishness. A breakout above $0.60 could lead to a rally to $0.64, while a drop below moving averages could pull the price down to the uptrend line.

Dogecoin Price Analysis

Dogecoin (DOGE) is attempting to break above the downtrend line of a falling wedge pattern. Success would indicate the end of the downtrend. Bulls may target $0.12 and $0.14. Failure to break above the current level could lead to a retest of $0.09 support.

Toncoin Price Analysis

Toncoin (TON) turned up from the 20-day EMA ($5.50) on September 17 but struggles to overcome the 50-day SMA ($5.78). A range-bound movement may continue. If bulls push the price above the 50-day SMA, the pair could rise to $7, indicating a continuation of the $4.72-$8.29 range. Bears may aim to pull the price below the 20-day EMA, leading to a potential drop towards $4.72-$4.44.

Cardano Price Analysis

Cardano (ADA) has reached the downtrend line of a descending triangle pattern. A breakout above the triangle would invalidate the bearish setup. The ADA/USDT pair could then rally to $0.40-$0.45. Failure to break above the downtrend line could result in continued movement within the triangle.

Avalanche Price Analysis

Avalanche (AVAX) broke and closed above the resistance line of a descending channel pattern on September 19, indicating a potential trend change. Bulls may target $29 and $33. Failure to hold above the current level could lead to range-bound movement between $19.50-$29.

Shiba Inu Price Analysis

Shiba Inu (SHIB) turned up from $0.000013 support on September 18 and rose above moving averages on September 19. Bulls may target $0.000016 but could face resistance there. A sharp drop from $0.000016 could result in a period of range-bound movement. Moving averages and $0.000013 provide support.