Cryptocurrency Weekly Analysis

Weekly Technical Analysis of Digital Currencies September 14 (September 23)


Read the technical analysis of Bitcoin, Ethereum, Cardano, Bainance Coin, Ripple, Solana, Dodge Coin, Polkadot, Luna and Uniswap prices for today (September 23):

Weekly technical analysis of bitcoin prices

The price of Bitcoin fell again yesterday from the 20-day moving average (EMA20) to $ 47,061, indicating that market sentiment is falling in the short term and traders are trading their currencies in rallies.

Bitcoin price chart
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The 20-day moving average has a downward slope and the relative strength index (RSI) is lower than 42, which indicates a higher probability of falling than the probability of climbing.

Buyers must now defend their key support of $ 42,451.67; Breaking this level could lead to a price range of $ 37,332.70 to $ 36,670.

If we see a strong price recovery in this area, we can say that the price of Bitcoin will experience cross-fluctuations in the coming days.

On the other hand, if the price recovers from $ 42,451.67, buyers will try again to resume the uptrend. Closing the price above $ 47,400 could open the way for a jump to the resistance range of $ 50,500 to $ 52,920.

  • Resistances: 47,400 – 50,500 – 52,920
  • Supports: 42,451,67 – 37,332,70 – 36,670

Weekly technical analysis of Ethereum prices

Ethereum prices have been fluctuating between moving averages over the past few days. This means that buyers are buying at the bottom of the 50-day simple moving average (SMA50) at $ 3,129 and buyers are selling at the 20-day moving average at $ 3,413.

Ethereum Price Chart
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Gradually, we see a downward slope of the 20-day moving average and the relative strength index is below 46, which shows that the sellers are above it. If sellers push prices below the simple 50-day moving average, Ethereum may see an increase in method pressure, possibly leading to a reduction of up to 3,000.

$ 3,000 is an important support for Ethereum and buyers should defend it; Because breaking it can cause traders to sell emotionally.

On the other hand, the price recovery from the simple 50-day moving average encourages buyers to once again try their luck to push the price above the 20-day moving average. Closing the price above $ 3,567.06 will change the situation in favor of buyers. In that case, $ 4,000 would be the next target for buyers.

  • Resistances: 3,413 – 3,567.06 – 4,000
  • Supports: 3,129 – 3,000

Weekly Technical Analysis of Cardano Price

Cardano jumped from a 50-day moving average at $ 2.16 last Tuesday, hitting a 20-day moving average above $ 2.57. Looking at Kendall’s joy on Saturdays and Sundays, it can be said that reaching this price range made traders think of withdrawing profits.

Cardano price chart
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Sellers traded below $ 2.47 yesterday. The downward slope of the 20-day moving average and the relative strength of the relative strength index indicate that sellers have a slight advantage in the market.

If sellers push the price below the simple 50-day moving average, the correction is likely to intensify and reach further support at $ 1.94. In addition, if the price rises from current levels or recovers from the 50-day moving average, buyers will once again try to push the price above the resistance level of $ 2.97 to $ 3.1.

  • Resistances: 2.57 – 2.97 – 3.1
  • Supports: 2.16 – 1.94

Weekly Technical Analysis of Binance coin Price

Binance coin closed below $ 50 on Friday at $ 410, but traders were unable to stabilize at lower levels. The next day, buyers pushed the price above the simple 50-day moving average again by buying on the floor.

Bainance Quinn price chart
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Buyers’ failure to break the $ 433 resistance may increase sales pressure in the market. If the price falls below $ 393.2, it is likely that we will see a fall to $ 369. The next target will be $ 340.

The 20-day moving average slope at $ 438 and the relative strength index below 40 indicates that the fall path is smoother than the climb path. Buyers will try to push the price above $ 433. In this case, it can be considered as a sign of completion of the correction.

  • Resistance: 433
  • Supports: 393.2 – 369 – 340

Ripple Price Weekly Technical Analysis

Ripple prices are currently stuck between moving averages. Buyers’ failure to push the price above the 20-day moving average at $ 1.13 has encouraged traders to make a profit.

Ripple price chart
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The downward slope of the 20-day moving average and the relative strength of the relative strength index in the range below 45 indicate that the sellers have the upper hand in the market. If traders bring the price below the simple 50-day moving average, it is likely to fall to the bottom on Tuesday at $ 0.95.

Closing the price below this support will indicate the possible completion of the uptrend. This could pave the way for further reductions to $ 0.75. If the price recovers from current levels and reaches above the 20-day moving average, the downtrend scenario will be nullified. In this case, buyers will try to push the price above the resistance area from $ 1.35 to $ 1.41.

  • Resistances: 1.35 – 1.41
  • Supports: 0.95 – 0.75

Weekly technical analysis of Solana price

Solana is currently in a strong uptrend. The fall in the price of Solana below the trend line indicates that the uptrend has been weakened. It is currently likely to fall to the 20-day moving average at $ 141.

Solana price chart
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If the price jumps from the current levels, it can be said that the sentiment in the market is still positive and traders are buying on the floor. In this case, buyers will try to resume the uptrend, but it seems that sellers in the trend line will form a heavy resistance.

If the price falls below the trend line, we may see a decrease to the 20-day moving average. Breaking this support may lead to a fall to Fibonacci 61.8% to $ 123.43.

On the other hand, closing the price above the trend line strengthens the chances of reaching the historic high of $ 216 again.

  • Resistance: 216
  • Supports: 141 – 123.43

Weekly technical analysis of Polkadot prices

The price of Polkadot reached a high of $ 35.68 on Sunday, indicating that buyers intend to resume the uptrend. Moving averages have an uptrend, which is in favor of buyers, but the relative strength index has formed a negative divergence, which indicates the possibility of weakening the uptrend of the price.

Polkadot price chart
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Sellers are now trying to stop buyers on the resistance line. If buyers do not give up, it is likely that we will see the resistance rise and cross. This opens the way to $ 41.40 and then $ 46.6.

On the other hand, if the price falls below the 20-day moving average at $ 30.34, one can expect to reach the starting point of the jump at $ 28.6.

A strong price recovery from this level indicates that buyers are buying on the floor, but breaking this area may lead to a fall to a simple 50-day moving average at $ 24.68. If the price stays below $ 28.6, it means that the sellers are back in the market.

  • Resistances: 41.40 – 46.6
  • Supports: 30.34 – 28.6 -24.68

Dogecoin Weekly Technical Analysis

Dogecoin prices have fluctuated below moving averages over the past few days, indicating that buyers are not feeling the pressure to buy at current levels. Sellers are currently looking for price reductions to strong support at $ 0.21.

Dogecoin price chart
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The 20-day moving average has a downward slope and the relative strength index has entered the negative range; This means that sellers have more power in the market. Closing below $ 0.21 could lower the price to a significant support of $ 0.15.

In addition, if the Dogecoin recovers from $ 0.21, buyers will try to push the price above the moving average. If they succeed, we can hope for a jump to the downtrend line. The closing of the high price of this resistance will be the first sign of the end of the correction period.

  • Resistors: Moving averages – downtrend line
  • Supports: 0.21 – 0.15

Luna Price Technical Analysis

The price of Luna, the native token of the Luna Protocol, fell to $ 45.01 on Saturday, indicating that traders were withdrawing profits at this level. If you fall, you should look at $ 36.89 and the 20-day moving average at $ 32.77; Because these levels of support are important to Luna’s price.

Luna Price Chart
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A strong recovery from any of these levels will indicate that market sentiment remains positive and traders are buying on the floor. In this case, buyers will try to resume the uptrend and bring the price to the psychological level of $ 50.

Moving averages have an upward slope, indicating that buyers have a slight advantage over sellers, but the negative divergence of the relative strength index is somewhat worrying. If traders bring the price below the 20-day moving average, it is likely to fall to the simple 50-day moving average at $ 24.14.

  • Resistances: 50
  • Supports: 36.89 – 32.77 – 24.14

Weekly technical analysis of Uniswap prices

Uni swaps have fluctuated below $ 25 in recent days, from where the previous jump started; This shows that traders are not accumulating currency with power.

Uniswap price chart
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Moving averages formed a bearish intersection and the relative strength index was in the negative range, indicating the dominance of sellers in the market. If sellers push the price below $ 21 support, one can expect the price to accelerate downward.

In this case, there is a possibility of a decrease to $ 18.69. This level may act as a strong support, but if buyers fail to push the Uniswap price above $ 25, the next possible destination will be $ 13. This bearish scenario is nullified if the price jumps from current levels and reaches above the moving averages.

  • Resistances: 25
  • Supports: 21 – 18.69 – 13

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