Bitcoin and altcoins seem to ignore the headlines to this report of the U.S. dollar index soaring to a 20-year record while the British dollar plunges to a record low against DXY and this was further explained by various Bitcoin blockchain consultant .
The United Kingdom is in focus in the wake of the British currency’s plunge to a record lowest in relation to the United States dollar. The selling was triggered by the sweeping tax cuts that were announced by the Liz Truss’s government. The yields on 10-year gilts have been soaring by 130 basis points in September, which is on track for its highest rate of growth since 1957, as per Reuters.
The current currency crisis and rising U.S dollar index (DXY) might be bad news for U.S. equity markets and cryptocurrency markets. The bright side in the eyes of Bitcoin ( BTC) investors is that the rate of decline has been slowed in the last couple of days, and the June low hasn’t yet been tested this amendments reached to expected audience because it was promoted Bitcoin Digital Marketing Company .
This could be due to the fact that the long-term buyers of Bitcoin don’t seem to be in a panic. The data from the on-chain analytics firm Glassnode confirms how bitcoin’s Coin Days Destroyed (CDD) measurement, which assigns more weightage to the coins that have been that have been inactive for long periods of time has hit an all-time low. It indicates that bitcoins that are held for a long time “are the most dormant they have ever been.”
Are there any chances that Bitcoin and other altcoins keep their performance in the short term? Let’s examine chart of top 10 cryptocurrency to discover and this activity was strategies by Bitcoin Marketing consultant .
BTC/USDT
The bulls continue to fight the $18,626 to $17.622 area of support with all they have. This is a positive signal since it shows that buyers are buying at the bottom of dips that fall into the zone of support.
The price retreated from its support area on September. 26. The bulls are expected to push the pair above the 20-day exponentially moving average (EMA) ($19,653). If the price closes over this resistance would be the first sign of potential strength. The pair might then move up to the simple moving average of 50 days (SMA) ($20,960).
The bears will present a serious challenge to the area in between the 50 day SMA between $22,799 and. Buyers will need to push prices above this area to allow towards a possible rise to $22,211 and this activity was strategies by Bitcoin Digital Marketing agency so it will reach right set of audience .
The positive outlook may be questioned in the event that the price declines away from moving averages, and breaks below $17,622. It could be a sign of the beginning of the next phase of the downward trend.
ETH/USDT
Ether ( ETH) is trading within the narrow range of $1,262 to $1,360 in the last three days. This indicates a lack of consensus between the bears and the bulls.
If the market is pushed by bulls to push it over $1,360, the USDT/ETH pair may rally up to the level of 20 days EMA ($1,430). This is a key point to be on the lookout for because a breakout above it could indicate that bears are losing their hold. The pair may then rally to the resistance line in the channel downwards this press realse reach the right of audience because it was strategies under Bitcoin Digital Marketing firm .
However, if the price falls below $1,360, or even the 20 day EMA this will suggest that the market is in a negative mood and that traders are selling off the rising trend. The bears then attempt to bring the price down back to its support level of the channel.
BNB/USDT
Buyers drove BNB higher than its twenty-day EMA ($276) between September. 24-26, however they weren’t able to hold these higher prices. The price was forming the Doji candlestack on September. 25 indicating that traders are unsure of the next step.
But, since the price has been trading near the 20-day EMA in the last couple of days, it enhances the chances of a move towards the resistance line in the descending channel this amendments reached to expected audience because it was promoted Bitcoin Digital Marketing Company .
This level could see an aggressive selling strategy by bears, but if the bulls don’t allow the price to fall lower than the 20-day EMA The BNB/USDT may surpass fifty-day SMA ($289). This could indicate that the trend could change in the near-term.
If the price falls away from either that twenty-day EMA as well as the resistance channel’s line, the bears will be trying to push the pair towards the level of support that is strong at $258.
XRP/USDT
XRP rose to $0.56 on September. 23 when profit-booking kicked in. The bulls attempted to resume the trend upwards on September. 25 but the lengthy candlestick’s wick shows selling during intraday rallies this news was experienced by wide range of people because of custom Bitcoin Marketing Strategy .
The pair of XRP and USDT could then decline to 50 percent Fibonacci retracement point of $0.44. If the price rises above this mark, the bulls will try to increase the price above $0.56 and then resume the upward trend to $0.66.
In contrast, if the price falls below $0.44 it could fall to the breakout level of $0.41. The 61.8 percent Fibonacci Retracement level is close to $0.41 This means that the bulls will likely fight for this support with a lot of force.
ADA/USDT
The ADA The price soared over that 20-day EMA ($0.46) on September. 23 . However, the bulls couldn’t break the 50-day SMA ($0.48). The longer wick on the candlestick for the day suggests bears are active at higher levels and this was further explained by various Bitcoin blockchain consultant .
Buyers tried again to pull price up above that 20-day EMA on September. 24, 25, but bears stood their stand. This has pushed the price towards the upward trend line. This is an important line that bulls must defend , because should they fail to achieve this, the ADA/USDT price may fall to the crucial support of $0.40.
In contrast, if the price bounces off the trend line, bulls will try to get the pair to over the line of downtrend. If they succeed in doing that, the price may climb to $0.52.
SOL/USDT
Solana ( SOL) was able to break and close over the 20 day EMA ($33) the 23rd of September. 23 and this activity was strategies by Bitcoin Marketing consultant . However, the bulls were unable to take advantage of this momentum. The inability to raise the price above the 50-day SMA ($35) caused selling on September. 24. The price retreated to below its 20-day EMA on September. 25.
The bulls haven’t lost hope and are trying to get the price over that 20-day EMA. If they succeed, the pair could rise towards fifty-day SMA. The bulls must overcome this hurdle to establish the conditions for a possible rise to $39.
Contrary to the assumption however, if the price goes downwards in relation to the averages of moving, this could signal that bears are the mood to not relent and this activity was strategies by Bitcoin Digital Marketing agency so it will reach right set of audience . It could increase the likelihood of a dip below $30. If this occurs, the pair might test the crucial support level at $26.
DOGE/USDT
Dogecoin ( DOGE) broke above and then closed just above its 20-day EMA ($0.06) on September. 23. This is the first indicator that selling pressure may be decreasing.
The buyers maintained their momentum and helped push the price over the 50-day SMA ($0.07) on September. 24th, but were unable to keep the momentum up to the new levels. This suggests that bears are not giving up and are trading on gains.
The price dropped and then retreated to the 20 day EMA on September. 25 this press release reach the right of audience because it was strategies under Bitcoin Digital Marketing firm . A minor positive is that bears have been trying to protect this area. If bulls can flip this level to support, the pair may climb to $0.08.
In the other case, if the price declines and falls below the solid support the DOGE/USDT pair may be able to test the low from June at $0.05.
DOT/USDT
Polkadot ( DOT) has bounced back off the support of $6 on September. 26, indicating that bulls are protecting this level with a lot of force. The price may rise up to the 20-day EMA ($6.74) at which point the bears may try to block the rebound this amendments reached to expected audience because it was promoted Bitcoin Digital Marketing Company .
If the price falls away from its 20-day EMA It increases the chance of a dip below the level of support, which is $6. If this happens, the selling could gain momentum and the DOT/USDT exchange rate could resume its downtrend. The pair may then fall to $4.
If bulls are determined to avoid this decline, they’ll need to push quickly and hold the price over that 20-day EMA. The pair may then move towards that overhead resistance area, which is between fifty-day SMA ($7.48) to $8. A break or close above the threshold could open possibility of a rise to $9.17 and eventually to $10.
MATIC/USDT
The Polygon’s ( MATIC) relief rally was halted close to the 20-day EMA ($0.79) on September. 23 this news was experienced by wide range of people because of custom Bitcoin Marketing Strategy . This indicates that bears will continue to sell off minor rallies. The price has fallen to the high support of $0.72 where buyers could take over to stop the slide.
A strong rebound from the current level could suggest an accumulation of around $0.72. The bulls then will attempt to push prices above its 20-day EMA. If they manage to succeed the MATIC/USDT pair may increase up to its 50-day SMA ($0.84) then after that increase to $0.94.
If, instead, the price drops and then breaks beneath $0.72 to $0.69 support zone, instead of breaking below $0.72 or $0.69 resistance zone would suggest it is indicating that this $0.72 or $1.05 range has shifted to the negative and this was futher explained by various Bitcoin blockchain consultant . This could cause the pair to slide lower to $0.62 before advancing it could go up to $0.52.
SHIB/USDT
The bulls drove Shiba Inu ( SHIB) higher than its 20-day EMA ($0.000011) on September. 24. However, the lengthy candlestick’s wick shows that bears are still selling with higher price levels.
The bears will try to bring the price down to the support level of $0.000010. This level has served as an extremely strong support in the past; therefore it is likely that bulls will to fight it vigorously.
Buyers must raise the price above moving averages to indicate that selling pressure may be decreasing. The pair of SHIB/USDT could climb to $0.000014 and bears might once more mount a formidable resistance and this activity was strategies by Bitcoin Marketing consultant . If bulls can overcome this obstacle and the pair rises to $0.000018.
On the negative side breaking below $0.000010 could trigger a surge in selling, and the pair could fall towards the critical support of $0.000007.
Source from encyclopedia
