Price: $0.38623 4.3071%
Market Cap: 56.73B 1.7394%
Volume (24h): 7.98B 0.4%
Dominance: 1.7394%
Price: $0.38623 4.3071%
Market Cap: 56.73B 1.7394%
Volume (24h): 7.98B 0.4%
Dominance: 1.7394% 1.7394%
  • Price: $0.38623 4.3071%
  • Market Cap: 56.73B 1.7394%
  • Volume (24h): 7.98B 0.4%
  • Dominance: 1.7394% 1.7394%
  • Price: $0.38623 4.3071%
Home > Information news > Price analysis 9/9: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Price analysis 9/9: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Release: 2024/09/10 20:10 Reading: 488

Original author:Cointelegraph

Original source:https://coinmarketcap.com/community/articles/66df3b3115c4534880c05c88

Price analysis 9/9: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Market Analysis:

The S&P 500 Index (SPX) experienced a sharp decline of 4.25% last week, indicating profit-taking near its all-time high of 5,670. Bitcoin (BTC) also faced bearish pressure, falling 4.24% as traders explored the potential for a new downtrend.

In response, the United States-based spot Bitcoin exchange-traded funds (ETFs) have witnessed a significant outflow of $1.2 billion in just eight days, according to Bloomberg data.

Technical Analysis:

S&P 500 Index:

  • The index is at risk of forming a double-top pattern, which could be confirmed by a break below 5,119.
  • Bears have pulled the price below the moving averages, weakening the bullish momentum.
  • Buyers are likely to defend the 5,265-5,119 zone.
  • A rebound above the moving averages would indicate potential recovery.

US Dollar Index:

  • The DXY rallied off the 100.50 level, suggesting strong buying sentiment.
  • A move above the 20-day EMA would support a further climb towards the 50-day SMA.
  • A sharp reversal below the 20-day EMA could lead to a possible break below 100.50.

Bitcoin:

  • BTC closed below $55,724 but has recovered, indicating a lack of selling pressure at lower levels.
  • A break above $55,724 and the 20-day EMA could negate the breakdown.
  • A fall below $52,550 could signal the start of a new downtrend.

Ether:

  • ETH faces resistance at $2,300, where bears are aiming to establish it as a resistance level.
  • A break below $2,111 could lead to further declines towards $2,000.
  • A move above the 20-day EMA is necessary for a bullish recovery.

BNB:

  • BNB has bounced off $471, with bulls defending the $495-460 zone.
  • Resistance at the moving averages could lead to another attempt to break below $460.
  • A break above the moving averages would suggest potential sideways movement.

Solana:

  • SOL is struggling to find support at $116, with bears continuing to sell on rallies.
  • A break below $116 could lead to a further decline to $100.
  • A recovery above the 20-day EMA would indicate buying on dips.

XRP:

  • XRP has fallen below $0.54, weakening the bullish momentum.
  • A drop to $0.46 seems likely, with buyers defending the $0.46-0.41 zone.
  • A move above the 50-day SMA would signal a possible comeback.

Dogecoin:

  • DOGE remains in a downtrend, with bulls attempting to establish a higher low at $0.09.
  • A break above the 20-day EMA could lead to a rally towards the downtrend line.
  • A break below $0.09 would indicate continued bearish pressure.

Toncoin:

  • TON has risen above the breakdown level of $4.72, suggesting buying interest.
  • Resistance at the 20-day EMA could lead to a pullback.
  • A break above the 20-day EMA would indicate a reduction in selling pressure.

Cardano:

  • ADA has bounced off $0.31, potentially forming a double bottom pattern.
  • A break above $0.40 would confirm this pattern.
  • A break above the 50-day SMA would indicate the start of a new uptrend.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Cryptocurrencies are highly volatile and involve significant risk.

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