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The Federal Reserve did not hike interest rates in its assembly on Sep. 20 however hinted that charges may stay increased for longer. On the post-meeting press convention, Fed Chair Jerome Powell cautioned that “the method of getting inflation sustainably all the way down to 2% has a protracted approach to go.”
This doable state of affairs could have triggered the sell-off in the USA equities markets and in addition within the cryptocurrency area. Threat property usually are likely to underperform in a high-interest-rate setting.
Whereas the S&P 500 is down greater than 2% and the Nasdaq about 3% this week, Bitcoin (BTC) has a remained flat.
![](https://s3.cointelegraph.com/uploads/2023-09/643d2f4f-6faa-4a08-8625-b0421f37e9e7.png)
The altcoins have been unable to carry on to their intra-week positive aspects as a result of a risk-off sentiment. Nonetheless, an encouraging signal is that Bitcoin and the key altcoins have largely managed to remain above their essential assist ranges. The value motion over the subsequent few days is essential as it’s more likely to witness a tricky battle between the bulls and the bears.
Will bears seize the initiative and drag Bitcoin and the key altcoins decrease or may consumers regroup and push costs increased? Let’s research the charts of the highest 10 cryptocurrencies to seek out out.
Bitcoin worth evaluation
Bitcoin has been buying and selling between the shifting averages for the previous few days. This tight-range buying and selling signifies indecision between the bulls and the bears in regards to the subsequent directional transfer.
![](https://s3.cointelegraph.com/uploads/2023-09/9a0133ef-828a-484b-91c5-a9277a662a9b.png)
Patrons are trying to maintain the BTC/USDT pair above the 20-day exponential shifting common ($26,520). If the worth rises from the present degree, the bulls will once more attempt to overcome the barrier on the 50-day easy shifting common ($27,050). If they’re profitable, the pair may surge to the subsequent resistance at $28,143.
In distinction, if the worth plummets beneath the 20-day EMA, it would recommend that the bears are again in command. That can improve the potential of a retest of the pivotal assist at $24,800.
Ether worth evaluation
Ether (ETH) turned down from the 20-day EMA ($1,628) on Sep. 20, indicating that the bears proceed to promote on rallies.
![](https://s3.cointelegraph.com/uploads/2023-09/f8f92b72-334a-475d-af78-cd2d0d836174.png)
The bears will attempt to solidify their place additional by pulling the worth beneath the very important assist at $1,530. In the event that they handle to try this, the ETH/USDT pair may begin a downward transfer towards the subsequent main assist at $1,368.
Contrarily, if the worth turns up from the present degree or rebounds off $1,530, it would recommend that decrease ranges are attracting consumers. The primary signal of energy will probably be a break and shut above $1,670. That can clear the trail for a possible rally to $1,745.
BNB worth evaluation
BNB (BNB) turned down from $220 on Sep. 18 and broke beneath the 20-day EMA ($214) on Sep. 20. This implies that the worth could consolidate between $203 and $220 for some time longer.
![](https://s3.cointelegraph.com/uploads/2023-09/5dbed45b-571b-41b1-b71e-d2d3ff442cb7.png)
If the worth sustains beneath the 20-day EMA, the bears will make yet another try and tug the BNB/USDT pair beneath the essential assist at $203. In the event that they succeed, it would point out the resumption of the downtrend. The following assist on the draw back is at $183.
On the upside, the bulls must clear the hurdle on the 50-day SMA ($222) to sign a comeback. The pair may first rally to $235 and subsequently try an up-move to $250. This degree is anticipated to draw sellers.
XRP worth evaluation
XRP (XRP) rose above the 20-day EMA ($0.51) on Sep. 19 however the bulls are struggling to maintain the restoration.
![](https://s3.cointelegraph.com/uploads/2023-09/8fdeaf2a-496c-4a2f-b9f6-ef71efe950e5.png)
The value has once more dropped to the 20-day EMA, which is a crucial assist to keep watch over. If the worth turns up from the present degree, it would recommend a change in sentiment from promoting on rallies to purchasing on dips. The bulls will then once more try and kick the worth above the overhead zone between the 50-day SMA ($0.53) and $0.56.
Quite the opposite, if the 20-day EMA offers manner, the pair may fall to the uptrend line. This is a crucial degree for the bulls to defend as a result of a break beneath it would invalidate the bullish sample.
Cardano worth evaluation
Cardano’s (ADA) worth motion of the previous few days has shaped a descending triangle sample, which is able to full on a break and shut beneath $0.24.
![](https://s3.cointelegraph.com/uploads/2023-09/787ec3f2-c48c-48e7-8f7c-6f7a02c826db.png)
The regularly downsloping shifting averages recommend benefit to bears however the bullish divergence on the RSI signifies that the bearish momentum could also be slowing down. Patrons must shortly shove the worth above the downtrend line to forestall a breakdown. In the event that they try this, the ADA/USDT pair will probably be well-positioned for a aid rally to $0.30.
If the worth continues decrease and breaks beneath $0.24, it would full the bearish setup and set the stage for a fall to $0.22 and ultimately to the sample goal of $0.19.
Dogecoin worth evaluation
Dogecoin (DOGE) turned down from the 20-day EMA ($0.06) on Sep. 21, indicating that the bears are aggressively defending the extent.
![](https://s3.cointelegraph.com/uploads/2023-09/3e6dc402-471f-463b-8674-9e53bce6f6a3.png)
Nonetheless, the bears haven’t been capable of strengthen their place by yanking the worth beneath the formidable assist at $0.06. This implies that the bulls are shopping for on dips. The DOGE/USDT pair could swing between $0.06 and the 20-day EMA for some extra time.
If bulls kick the worth above the 20-day EMA, it would point out the beginning of a sustained restoration to the 50-day SMA ($0.07) after which to $0.08. On the draw back, if the $0.06 degree cracks, the pair dangers a possible decline to $0.055.
Solana worth evaluation
Solana (SOL) rose above the 20-day EMA ($19.57) on Sep. 18 however the bulls couldn’t push the worth to the 50-day SMA ($21.01). This implies that the bears are lively at increased ranges.
![](https://s3.cointelegraph.com/uploads/2023-09/28dc7c1a-84c9-496d-8b8b-4c37b5edd72e.png)
The 20-day EMA is witnessing a tricky battle between the bulls and the bears. If the sellers maintain the worth beneath the 20-day EMA, the SOL/USDT pair may hunch to $18.50 and thereafter to the subsequent assist at $17.33.
Associated: Bitcoin blasts past its 2021 all-time high in Argentina, but hyperinflation outpaces gains
However, if the worth sustains above the 20-day EMA, it would recommend that the bulls have flipped the extent into assist. That might improve the potential of a retest of the overhead resistance zone between the 50-day SMA and $22.30.
Toncoin worth evaluation
Toncoin’s (TON) failure to rise above $2.59 on Sep. 19 and 20 could have tempted short-term merchants to guide income.
![](https://s3.cointelegraph.com/uploads/2023-09/c582889f-c6fe-466c-acab-6395dc51a4e4.png)
The fast assist on the draw back is at $2.25. If this degree is violated, the TON/USDT pair may drop to the 20-day EMA ($2.08). If bulls need to retain the optimistic sentiment, they need to defend this degree. A powerful rebound off the 20-day EMA may hold the pair caught inside the big vary between $2.07 and $2.59.
One other risk is that the worth snaps again from $2.25. If that occurs, it would recommend that merchants aren’t ready for a deeper correction to purchase. That can improve the chance of a break above $2.59. The pair could then leap to $2.90.
Polkadot worth evaluation
The bears are fiercely guarding the breakdown degree of $4.22 in Polkadot (DOT), indicating that each minor aid rally is being bought into.
![](https://s3.cointelegraph.com/uploads/2023-09/db17532c-ce8f-462e-ac22-8b8ce80d9804.png)
The downsloping shifting averages and the RSI within the detrimental territory point out that the bears have the higher hand. If the worth continues decrease and skids beneath $3.90, it would recommend the beginning of the subsequent leg of the downtrend towards $3.58.
A minor benefit in favor of the bulls is that the RSI is displaying early indicators of forming a optimistic divergence. This implies that the promoting stress could possibly be decreasing. A break and shut above $4.22 will open the doorways for a doable rally to the downtrend line.
Polygon worth evaluation
Polygon (MATIC) closed above the 20-day EMA ($0.54) on Sep. 19 however the bulls did not construct upon the momentum. This implies that demand dries up at increased ranges.
![](https://s3.cointelegraph.com/uploads/2023-09/e56a9cb6-e267-444c-b98a-a4199b6f23b0.png)
The bears pulled the worth again beneath the 20-day EMA on Sep. 21. The sellers will attempt to sink the pair beneath the robust assist at $0.49. In the event that they handle to try this, the MATIC/USDT pair may resume its downtrend. The following assist on the draw back is $0.45.
Alternatively, if the worth rebounds of the $0.50 assist with energy, it would recommend that decrease ranges are attracting consumers. The bulls must propel and maintain the worth above $0.55 to sign the beginning of a stronger restoration.
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a call.
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