polygon

Crypto bulls are attempting a comeback. Here are the altcoins that traders are keeping an eye on.

Bitcoin (BTC) is attempting to trade above $27,000 which is a positive sign. In the past few days, Bitcoin’s price held up above $26,000 in adverse conditions when the United States dollar index (DXY) was rising sharply and the S&P 500 index (SPX) was plunging. This suggests that selling dries up at lower levels.

The decision by the United States Securities and Exchange Commission to delay the spot Bitcoin exchange-traded fund (ETFs) ahead of schedule also did not dent prices. This indicates that the market participants are taking a longer-term view on Bitcoin. Bloomberg ETF analyst James Seyffart believes that an early decision was taken by the regulator as there is a risk of a U.S. government shutdown on Oct. 1.

Bitcoin’s resilience over the past few days seems to have boosted trader’s sentiment. That helped start a recovery in most major altcoins, which are trying to climb above their respective resistance levels.

Could Bitcoin extend its up-move in the near term and will that start a revival in the crypto space? Let’s study the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

After struggling for several days, the bulls finally propelled Bitcoin above the moving averages on Sep. 28. The bulls are currently trying to thwart attempts by the bears to yank the price back below the 20-day exponential moving average ($26,534).

The moving averages are on the verge of a bullish crossover and the relative strength index (RSI) is in the positive territory, indicating that the path of least resistance is to the upside. There is a minor resistance at $27,500 but it is likely to be crossed.

The BTC/USDT pair could then rally to the overhead resistance at $28,143. This level is again likely to witness a tough battle between the bulls and the bears.

On the downside, the $26,000 level is an important level to watch out for. If this level gives way, the advantage will tilt in favor of the bears. The pair may then nosedive to the formidable support at $24,800.

Ether price analysis

Ether (ETH) climbed and closed above the 20-day EMA ($1,622) on Sep. 28, indicating that the selling pressure is reducing. The buyers continued their purchase and cleared the hurdle at the 50-day simple moving average ($1,660) on Sep. 29.

The bulls will try to drive the price to the overhead resistance of $1,746. This is an important level to keep an eye on because if buyers overcome this barrier, the ETH/USDT pair will complete a double bottom pattern. This reversal setup has a target objective of $1,961.

On the contrary, if the price turns down from $1,746, it will indicate that the bears remain sellers on rallies. The price could then dip to the 20-day EMA. If the price rebounds off this support, it will enhance the prospects of a rally above $1,746. The bears will be back in the game if they drag the price back below the 20-day EMA.

BNB price analysis

BNB (BNB) has been trading inside the $220 to $203 range for the past few days. The bulls are trying to nudge the price to the overhead resistance at $220.

The 20-day EMA ($213) is flat but the RSI has risen into positive territory, indicating that the momentum is turning in favor of the bulls. If the $220 resistance is surmounted, the BNB/USDT pair could surge to $235.

Contrary to this assumption, if the price turns down sharply from $220, it will indicate that the range-bound action may continue for a while longer. The next leg of the downtrend will begin after bears tug the price below $203.

XRP price analysis

Buyers pushed XRP (XRP) above the 20-day EMA ($0.50) on Sep. 28 and followed that up with a move above the resistance line of the symmetrical triangle pattern on Sep. 29.

If the price sustains above the triangle, it will signal that the uncertainty has resolved in favor of the buyers. The XRP/USDT pair could then rally to the overhead resistance at $0.56. This is an important resistance to watch out for because a break above it will clear the path for a potential rally to the pattern target of $0.64.

Contrarily, if the price turns down and re-enters the triangle, it will indicate that markets have rejected the higher levels. The bears will then try to gain the edge by pulling the price below the uptrend line of the triangle.

Cardano price analysis

The bulls are trying to sustain Cardano (ADA) above the 20-day EMA ($0.25) on Sep. 29, which shows that the bears are losing their grip.

A break and close above the downtrend line will invalidate the bearish descending triangle pattern. Generally, the failure of a bearish pattern results in a sharp up-move as the sellers rush to exit their shorts and the bulls waiting on the sidelines start buying. That could propel the ADA/USDT pair to $0.29 and subsequently to $0.32.

Time is running out for the bears. If they want to regain control, they will have to defend the downtrend line and pull the price below $0.24. The next support on the downside is at $0.22.

Dogecoin price analysis

Dogecoin’s (DOGE) range has shrunk in the past few days, increasing the prospect of a range expansion within the next few days.

The 20-day EMA ($0.06) is flattening out and the RSI is just below the midpoint, indicating a balance between supply and demand. If buyers kick the price above the 20-day EMA with force, it will signal the start of a recovery. The DOGE/USDT pair could first rise to $0.07 and thereafter to $0.08.

If bears want to prevent the upside, they will have to quickly drag the price below $0.06. If they do that, the pair may plunge to the next critical support at $0.055.

Solana price analysis

Solana (SOL) remains stuck inside the large range between $27.12 and $14 for the past several days. Trading inside a range can be random and volatile as bulls typically buy at the support and sell near the resistance.

The bulls are trying to start a relief rally, which has reached the 50-day SMA ($20.44). This is an important level to watch out for because a break above it will suggest that the bulls are back in the game. The SOL/USDT pair could then rise to $22.30.

Instead, if the price turns down from the 50-day SMA, it will indicate that the bears are active at higher levels. Sellers will have to tug the price below $18.50 to open the doors for a retest of $17.33.

Related: Why is Ether (ETH) price up today?

Toncoin price analysis

Toncoin (TON) rebounded off the 20-day EMA ($2.13) on Sep. 27, indicating that the sentiment remains positive and traders are buying on dips.

The long wick on the Sep. 27 and 28 candlestick shows that the bears are selling at the 38.2% Fibonacci retracement level of $2.28. However, a positive sign in favor of the bulls is that they have not allowed the price to slip below the 20-day EMA.

Buyers will have to shove the price above the 61.8% Fibonacci retracement level of $2.40 to open the doors for a retest of the stiff overhead resistance at $2.59. This positive view will invalidate if the price turns down and plummets below $2.07.

Polkadot price analysis

The failure of the bears to sink Polkadot (DOT) below the $3.91 support indicates that the range-bound action remains intact.

Buyers will try to drive the price above the 20-day EMA ($4.10) and challenge the overhead resistance at the 50-day SMA ($4.32). If this level is cleared, the DOT/USDT pair could surge to the downtrend line. The bulls will have to overcome this barrier to signal a potential trend change.

The important support to watch on the downside is $3.91. A break below this level will suggest the resumption of the downtrend toward $3.58.

Polygon price analysis

Polygon (MATIC) turned up from $0.50 on Sep. 28 indicating solid buying at lower levels. The price has reached the 20-day EMA ($0.52), which is an important level to keep an eye on.

The positive divergence on the RSI indicates that the selling pressure is reducing. That enhances the prospects of a break above the moving averages. The MATIC/USDT pair could then retest the overhead resistance at $0.60. The bears are expected to protect this level with vigor.

If bears want to maintain their control, they will have to yank the price below the strong support at $0.49. If this support gives way, the pair may drop to $0.45.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin, and even some altcoins are holding steady even as the US dollar index steamrolls to a near 1-year high.

Bitcoin (BTC) managed to stay above the $26,000 level even as the S&P 500 tumbled to a three-month low and the US dollar index (DXY) rose to a new year-to-date high. This is a mildly positive sign as it shows a lack of aggressive selling at lower levels.

Bitcoin remains stuck inside a range and the directionless price action has kept the traders on the sidelines. Bitcoin’s daily spot exchange transactions topped 600,000 in March but dwindled down to 8,000-15,000 last week, according to new research from on-chain analytics platform CryptoQuant. Low liquidity could lead to volatile moves in either direction, hence traders should be careful and wait for confirmations rather than taking positions on every intraday breakout.

The near-term price action remains uncertain but that has not deterred the long-term bulls from adding Bitcoin to their portfolio. MicroStrategy co-founder and executive chairman Michael Saylor announced on X (formerly Twitter) that the firm had acquired 5,445 Bitcoin at an average price of $27,053 per Bitcoin.

Could Bitcoin and select altcoins start a short-term up-move? Let’s study the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin is witnessing a tough battle between the bulls and the bears near the 20-day exponential moving average ($26,436). The bulls pushed the price above the 20-day EMA on Sep. 27 but could not clear the 50-day simple moving average ($26,757).

This indicates that the bears have not given up and are selling the rallies to the 50-day SMA. The bears will have to pull the price below $25,990 to clear the path for a potential fall to $24,800. This level is likely to attract solid buying by the bulls.

On the upside, the first sign of strength will be a break and close above the 50-day SMA. The BTC/USDT pair may then rise to $27,500 and subsequently to the overhead resistance at $28,143. The bears are expected to defend this level with all their might.

Ether price analysis

Ether (ETH) is trying to start a recovery. The price rose above the 20-day EMA ($1,614) on Sep. 27 but the bulls could not hold on to the intraday rally. This shows that the higher levels continue to attract sellers.

The bullish divergence on the relative strength index (RSI) favors the buyers. If they retain the price above the 20-day EMA, the ETH/USDT pair could first rise to the 50-day SMA ($1,668) and thereafter attempt a rally to the overhead resistance at $1,746.

Contrary to this assumption, if the price remains below the 20-day EMA, it will suggest that the bears are in command. The sellers will then try to yank the price below the important support at $1,531. If that happens, the pair may crash to $1,368.

BNB price analysis

BNB (BNB) remains below the breakdown level of $220 but a positive sign is that the bulls have not allowed the price to slip below $203.

The 20-day EMA ($213) is flattening out and the RSI is just below the midpoint, indicating a balance between supply and demand. This equilibrium will tilt in favor of the bulls if they kick the price above $220. The BNB/USDT pair could then ascend to $235.

On the contrary, if the price continues lower and breaks below $203, it will signal that the bears have asserted their supremacy. The pair may then start the next leg of the downtrend to the strong support at $183.

XRP price analysis

Buyers tried to thrust XRP (XRP) above the 20-day EMA ($0.50) on Sep. 25 but the bears held their ground.

The price action of the past few days has formed a symmetrical triangle pattern, indicating indecision between the bulls and the bears.

Sellers will try to gain the upper hand by dragging the price below the uptrend line. If they are successful, the XRP/USDT pair may descend to $0.46 and then to $0.41.

Contrarily, if the price turns up and breaks above the resistance line, it will indicate that bulls are trying to seize control. The pair may then climb to the overhead resistance at $0.56.

Cardano price analysis

Cardano (ADA) bounced off the vital support at $0.24 on Sep. 25 but the bulls are struggling to push the price above the 20-day EMA. This may result in more selling.

The $0.24 level is likely to witness a tough battle between the bulls and the bears. If the $0.24 support gives way, the ADA/USDT pair will complete a bearish descending triangle pattern. The pair may then start a downward move to $0.22 and subsequently to the pattern target of $0.19.

Contrary to this assumption, if the price turns up and breaks above the downtrend line, it will invalidate the bearish setup. The pair may then start an up-move to $0.29.

Dogecoin price analysis

The bears pulled Dogecoin (DOGE) below the $0.06 support on Sep. 26 but the long tail on the candlestick shows buying at lower levels.

However, the gradually downsloping 20-day EMA ($0.06) and the RSI in the negative territory indicate that bears remain in command. Sellers will make another attempt to sink and sustain the price below $0.06. If they can pull it off, the DOGE/USDT pair may plummet to the next significant support at $0.055.

Alternatively, if the price turns up from the current level and rises above the 20-day EMA, it will signal that the bulls are on a comeback. The pair could first rally to $0.07 and thereafter dash toward $0.08.

Solana price analysis

The failure of the bulls to propel Solana (SOL) above the 20-day EMA ($19.42) in the past few days shows that the bears are aggressively protecting the level.

The price has turned down from the 20-day EMA and the bears will try to build upon their advantage by pulling the SOL/USDT pair below the nearest support at $18.50. If this level cracks, the selling could pick up and the next stop is likely to be $17.33.

On the contrary, if the price bounces off $18.50, it will suggest buying on dips. The bulls will then again try to shove the price above the moving averages. If they do that, the pair may jump to $22.30.

Related: Bitcoin price to $30K in October, says analyst as BTC price climbs 2%

Toncoin price analysis

Toncoin (TON) has dropped to the 20-day EMA ($2.11) which is an important level to keep an eye on. In an uptrend, buyers generally buy the dips to the 20-day EMA.

Here too, the bulls purchased the fall to the 20-day EMA on Sep. 27 but the long wick on the candlestick shows that the bears are selling at higher levels. If buyers maintain the price above the 20-day EMA, the TON/USDT pair will attempt a rally to the 61.8% Fibonacci retracement level of $2.40.

Meanwhile, sellers are likely to have other plans. They will try to yank the price below $2.07 and extend the correction to the next major support at the 50-day SMA ($1.76).

Polkadot price analysis

Polkadot (DOT) has remained stuck below the 20-day EMA ($4.10) for the past several days, suggesting that the bears are fiercely defending the level.

The RSI is showing signs of forming a bullish divergence but the buyers will have to clear the overhead hurdle at $4.22 to reduce the selling pressure. If that does not happen, the risk of a further fall remains.

If the DOT/USDT pair continues lower and skids below the immediate support at $3.91, it will indicate the start of the next leg of the downtrend. The next support on the downside is at $3.58.

Polygon price analysis

Polygon (MATIC) bounced off the critical support at $0.51 on Sep 25 but the bulls could not push the price above the 20-day EMA ($0.53).

This suggests that the sentiment remains negative and traders are selling on rallies. The bears will try to sink the price below the Sep. 11 intraday low of $0.49. A collapse of this support will indicate the resumption of the downtrend.

A minor ray of hope for the bulls is that the RSI is forming a bullish divergence. Buyers will have to drive and sustain the price above the 20-day EMA to signal the start of a sustained recovery. The MATIC/USDT pair could then rally to the 50-day SMA ($0.56).

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin and the major altcoins are down from their weekly highs, but the bulls are trying to form a higher bottom, indicating buying on dips.

The Federal Reserve did not hike interest rates in its meeting on Sep. 20 but hinted that rates could remain higher for longer. At the post-meeting press conference, Fed Chair Jerome Powell cautioned that “the process of getting inflation sustainably down to 2% has a long way to go.”

This possible scenario may have triggered the sell-off in the United States equities markets and also in the cryptocurrency space. Risk assets typically tend to underperform in a high-interest-rate environment.

While the S&P 500 is down more than 2% and the Nasdaq about 3% this week, Bitcoin (BTC) has a remained flat.

The altcoins have been unable to hold on to their intra-week gains due to a risk-off sentiment. Still, an encouraging sign is that Bitcoin and the major altcoins have largely managed to stay above their crucial support levels. The price action over the next few days is critical as it is likely to witness a tough battle between the bulls and the bears.

Will bears seize the initiative and drag Bitcoin and the major altcoins lower or could buyers regroup and push prices higher? Let’s study the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin has been trading between the moving averages for the past few days. This tight-range trading indicates indecision between the bulls and the bears about the next directional move.

Buyers are attempting to keep the BTC/USDT pair above the 20-day exponential moving average ($26,520). If the price rises from the current level, the bulls will again try to overcome the barrier at the 50-day simple moving average ($27,050). If they are successful, the pair could surge to the next resistance at $28,143.

In contrast, if the price plummets below the 20-day EMA, it will suggest that the bears are back in command. That will increase the possibility of a retest of the pivotal support at $24,800.

Ether price analysis

Ether (ETH) turned down from the 20-day EMA ($1,628) on Sep. 20, indicating that the bears continue to sell on rallies.

The bears will try to solidify their position further by pulling the price below the vital support at $1,530. If they manage to do that, the ETH/USDT pair could start a downward move toward the next major support at $1,368.

Contrarily, if the price turns up from the current level or rebounds off $1,530, it will suggest that lower levels are attracting buyers. The first sign of strength will be a break and close above $1,670. That will clear the path for a potential rally to $1,745.

BNB price analysis

BNB (BNB) turned down from $220 on Sep. 18 and broke below the 20-day EMA ($214) on Sep. 20. This suggests that the price may consolidate between $203 and $220 for a while longer.

If the price sustains below the 20-day EMA, the bears will make one more attempt to tug the BNB/USDT pair below the crucial support at $203. If they succeed, it will indicate the resumption of the downtrend. The next support on the downside is at $183.

On the upside, the bulls will have to clear the hurdle at the 50-day SMA ($222) to signal a comeback. The pair could first rally to $235 and subsequently attempt an up-move to $250. This level is expected to attract sellers.

XRP price analysis

XRP (XRP) rose above the 20-day EMA ($0.51) on Sep. 19 but the bulls are struggling to sustain the recovery.

The price has again dropped to the 20-day EMA, which is an important support to keep an eye on. If the price turns up from the current level, it will suggest a change in sentiment from selling on rallies to buying on dips. The bulls will then again attempt to kick the price above the overhead zone between the 50-day SMA ($0.53) and $0.56.

On the contrary, if the 20-day EMA gives way, the pair could fall to the uptrend line. This is an important level for the bulls to defend because a break below it will invalidate the bullish pattern.

Cardano price analysis

Cardano’s (ADA) price action of the past few days has formed a descending triangle pattern, which will complete on a break and close below $0.24.

The gradually downsloping moving averages suggest advantage to bears but the bullish divergence on the RSI indicates that the bearish momentum may be slowing down. Buyers will have to quickly shove the price above the downtrend line to prevent a breakdown. If they do that, the ADA/USDT pair will be well-positioned for a relief rally to $0.30.

If the price continues lower and breaks below $0.24, it will complete the bearish setup and set the stage for a fall to $0.22 and eventually to the pattern target of $0.19.

Dogecoin price analysis

Dogecoin (DOGE) turned down from the 20-day EMA ($0.06) on Sep. 21, indicating that the bears are aggressively defending the level.

However, the bears have not been able to strengthen their position by yanking the price below the formidable support at $0.06. This suggests that the bulls are buying on dips. The DOGE/USDT pair may swing between $0.06 and the 20-day EMA for some more time.

If bulls kick the price above the 20-day EMA, it will indicate the start of a sustained recovery to the 50-day SMA ($0.07) and then to $0.08. On the downside, if the $0.06 level cracks, the pair risks a potential decline to $0.055.

Solana price analysis

Solana (SOL) rose above the 20-day EMA ($19.57) on Sep. 18 but the bulls could not push the price to the 50-day SMA ($21.01). This suggests that the bears are active at higher levels.

The 20-day EMA is witnessing a tough battle between the bulls and the bears. If the sellers sustain the price below the 20-day EMA, the SOL/USDT pair could slump to $18.50 and thereafter to the next support at $17.33.

Related: Bitcoin blasts past its 2021 all-time high in Argentina, but hyperinflation outpaces gains

On the other hand, if the price sustains above the 20-day EMA, it will suggest that the bulls have flipped the level into support. That could increase the possibility of a retest of the overhead resistance zone between the 50-day SMA and $22.30.

Toncoin price analysis

Toncoin’s (TON) failure to rise above $2.59 on Sep. 19 and 20 may have tempted short-term traders to book profits.

The immediate support on the downside is at $2.25. If this level is violated, the TON/USDT pair could drop to the 20-day EMA ($2.08). If bulls want to retain the positive sentiment, they must defend this level. A strong rebound off the 20-day EMA could keep the pair stuck inside the large range between $2.07 and $2.59.

Another possibility is that the price snaps back from $2.25. If that happens, it will suggest that traders are not waiting for a deeper correction to buy. That will increase the likelihood of a break above $2.59. The pair may then jump to $2.90.

Polkadot price analysis

The bears are fiercely guarding the breakdown level of $4.22 in Polkadot (DOT), indicating that every minor relief rally is being sold into.

The downsloping moving averages and the RSI in the negative territory indicate that the bears have the upper hand. If the price continues lower and skids below $3.90, it will suggest the start of the next leg of the downtrend toward $3.58.

A minor advantage in favor of the bulls is that the RSI is showing early signs of forming a positive divergence. This suggests that the selling pressure could be reducing. A break and close above $4.22 will open the doors for a possible rally to the downtrend line.

Polygon price analysis

Polygon (MATIC) closed above the 20-day EMA ($0.54) on Sep. 19 but the bulls failed to build upon the momentum. This suggests that demand dries up at higher levels.

The bears pulled the price back below the 20-day EMA on Sep. 21. The sellers will try to sink the pair below the strong support at $0.49. If they manage to do that, the MATIC/USDT pair could resume its downtrend. The next support on the downside is $0.45.

Alternatively, if the price rebounds of the $0.50 support with strength, it will suggest that lower levels are attracting buyers. The bulls will have to propel and sustain the price above $0.55 to signal the start of a stronger recovery.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The recovery in Bitcoin and altcoins is facing selling at higher levels, indicating that the overall sentiment remains negative.

Bitcoin (BTC) has been stuck inside a large range since April, indicating indecision about the next directional move. Efforts by the bears to sink the price below the support of the range were thwarted by the bulls on Sep. 11. However, Bitcoin is not out of the woods yet. 

Jamie Coutts, a chartered market technician and crypto market analyst at Bloomberg Intelligence, while speaking to Cointelegraph said that if the tightening cycle extends, followed by “an uptick in unemployment and more stress in the banking sector, then there could be a bit more pain for risk assets like Bitcoin.”

Cryptocurrency traders have also remained cautious. A Bitfinex report shows that the cryptocurrency industry witnessed capital outflows of $55 billion in August. The drop in liquidity has caused isolated events to “have a bigger impact on market movements,” the report added.

Will Bitcoin turn down and retest its pivotal support? Could Bitcoin’s weakness trigger further selling in altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin broke and closed above the 20-day exponential moving average ($26,228) on Sep. 14, indicating that the downside momentum is weakening.

The 20-day EMA is flattening out and the relative strength index (RSI) is near the midpoint, signaling that the BTC/USDT pair may stay range-bound between $24,800 and $28,143 for some more time.

If bears want to make a comeback, they will have to quickly pull the price back below the 20-day EMA. Such a move will suggest that higher levels are being sold into. That could result in a retest of the strong support at $24,800.

Ether price analysis

Ether (ETH) plunged below the $1,550 support on Sep. 11 but the bears could not build upon this strength. This suggests solid buying at lower levels.

The bulls thereafter started a recovery, which has reached the 20-day EMA ($1,638). This level is likely to witness a tough battle between the bulls and the bears. A break and close above the 20-day EMA could trap several aggressive bears, resulting in a short squeeze. That could propel the price to $1,745.

Instead, if the price turns down from the 20-day EMA, it will suggest that the bears remain in command. The sellers will then make another attempt to sink the ETH/USDT pair below $1,550 and resume the downtrend.

BNB price analysis

BNB (BNB) bounced off the psychological support near $200 on Sep. 12, indicating that the bulls are active at lower levels.

The recovery has reached the 20-day EMA ($215), which is an important level to watch out for. If the BNB/USDT pair turns lower from the current level, it will indicate that the sentiment remains negative and traders are selling on relief rallies. That will increase the risk of a breakdown below $200.

Contrarily, the RSI is forming a positive divergence, indicating that the selling pressure could be reducing. A rise above the 20-day EMA could open the doors for a retest of the 50-day SMA ($225).

XRP price analysis

XRP (XRP) has been trading between $0.41 and $0.56 for the past several days. The price has recovered to the 20-day EMA ($0.50), which is an important level to keep an eye on.

If buyers thrust the price above the 20-day EMA, it will indicate that the selling pressure is reducing. That could start a sustained recovery toward the overhead resistance at $0.56. This level may again act as a roadblock.

If the price turns down from $0.56, it will indicate that the range-bound action may continue for some more time. The next trending move is likely to begin after bulls push the price above $0.56 or bears sink the XRP/USDT pair below $0.41.

Cardano price analysis

The strong selling in Cardano (ADA) pulled the price to $0.24 on Sep. 11 but the bears could not break the crucial support.

The rebound off $0.24 on Sep. 12 reached the 20-day EMA ($0.26) on Sep. 15. This level is likely to witness a tussle between the buyers and sellers. If the ADA/USDT pair turns down sharply from the 20-day EMA, it will indicate that every minor rise is being sold into. That could increase the risk of a drop to $0.22.

Contrarily, if buyers shove the price above the 20-day EMA, it will signal the start of a stronger recovery to $0.28.

Dogecoin price analysis

Dogecoin (DOGE) continues to trade between the 20-day EMA ($0.06) and the solid support at $0.06. This tight-range trading is unlikely to continue for long and a breakout may happen soon.

If buyers kick the price above the 20-day EMA, it will suggest that the sellers may be losing their grip. That could start a relief rally to the 50-day SMA ($0.07) where the bears are expected to intensify selling.

Contrary to this assumption, if the price turns down sharply from the 20-day EMA, it will enhance the prospects of a break below $0.06. If this support breaks down, the DOGE/USDT pair may plummet to $0.055.

Solana price analysis

Solana (SOL) has been swinging between $14 and $27.12 for the past several months. The price has reached the 20-day EMA ($19.51) where the bears are likely to pose a stiff challenge.

If buyers thrust the price above the 20-day EMA, the SOL/USDT pair could reach the overhead resistance at $22.30. This level may again act as a strong hurdle but if bulls overcome it, the pair could climb to $27.12.

On the contrary, if the price turns down from the 20-day EMA, it will signal that demand dries up at higher levels. The bears will then try to resume the downtrend and yank the price to the vital support at $14.

Related: Japan to allow startups to raise funds by issuing crypto instead of stocks: Report

Toncoin price analysis

Toncoin (TON) snapped back from the 20-day EMA ($1.75) on Sep. 12, indicating that the bulls are viewing the dips as a buying opportunity.

The price reached the first resistance at $1.98 on Sep. 13 where the bears are trying to halt the up-move. A minor advantage in favor of the bulls is that they have not ceded ground to the bears. This suggests that the bulls are in no hurry to book profits as they anticipate the up-move to continue.

If the $1.98 level is taken out, the TON/USDT pair could reach $2.07. This is an important level for the bears to defend because a break above it could propel the pair to $2.40. On the downside, a slide below the 20-day EMA could tilt the advantage in favor of the bears.

Polkadot price analysis

Polkadot (DOT) has been trading below the breakdown level of $4.22 for the past few days, which is a negative sign.

The bulls are trying to start a relief rally but that is likely to face strong selling at $4.22. If the price turns down from the overhead resistance, it will suggest that bears remain in control. The sellers will then try to sink the DOT/USDT pair below $3.90. If they succeed, the pair could collapse to $3.44.

If bulls want to prevent the decline, they will have to push and sustain the price above $4.22. If they do that, it will suggest that the markets have rejected the breakdown. The pair may then attempt a rally to the 50-day SMA ($4.61).

Polygon price analysis

Polygon (MATIC) slipped below the critical support at $0.51 on Sep. 11 but the bears could not maintain the selling pressure. That started a rebound, which is nearing the 20-day EMA ($0.54).

The bears will attempt to stall the recovery at the 20-day EMA and tug the price below $0.50. If they manage to do that, it will signal the resumption of the downtrend. The MATIC/USDT pair could then slump to $0.45.

Although the downsloping moving averages indicate advantage to bears, the positive divergence on the RSI suggests that the bearish momentum may be slowing down. If buyers clear the obstacle at the 20-day EMA, the pair may climb to $0.60.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.