Overview
- Bitcoin is showing signs of positive movement after forming Doji candlestick patterns on the weekly chart, indicating a resolution to the upside
- The Federal Open Market Committee meeting on Sep. 20 could bring volatility to the market
- Bitcoin’s recovery has sparked buying interest in certain altcoins
- The price of Bitcoin needs to stay above $26,500 for altcoins to continue their upward trajectory
Bitcoin Price Analysis
- Bitcoin has risen above the 20-day exponential moving average ($26,303), signaling reduced selling pressure
- Buyers will try to push the price to the 50-day simple moving average ($27,295), with a potential target at $28,143
- Bears will attempt to sink the price below the 20-day EMA, potentially leading to a retest of support at $24,800
Maker Price Analysis
- The price of Maker (MKR) has risen above the 50-day SMA ($1,162), indicating a bullish trend
- A battle between bulls and bears is expected at $1,370, with a break above that level potentially pushing the price towards $1,759
- A drop below the 20-day EMA ($1,162) could signal a swing within the range of $980 to $1,370
Aave Price Analysis
- Aave (AAVE) has surged above moving averages, indicating bullish momentum
- A resistance level at $70 could be breached if the price stays above the 50-day SMA ($59)
- A drop below the 20-day EMA ($56) could lead to a test of support at $48
THORChain Price Analysis
- THORChain (RUNE) has seen a recovery, indicating a comeback from buyers
- A resistance level at $2 may pose a challenge, with a drop from that level indicating bearish sentiment
- A support level at the 20-day EMA ($1.62) could signal further bullish momentum if it holds
Render Price Analysis
- Render (RNDR) has broken above the 50-day SMA ($1.58), suggesting reduced selling pressure
- The price turning up from the 20-day EMA ($1.50) could indicate a change in sentiment towards buying on dips
- A drop below the moving averages could lead to a test of support at $1.38
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.
