BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

The US Consumer Price Index rose 0.2% this month, according to estimates, but risk assets reacted negatively. The S&P 500 Index (SPX) initially fell more than 1.5%, but recovered its initial losses and turned positive. Bitcoin (BTC), which had fallen near $55,500, also fell above $57,500. The recovery shows solid buying at lower levels.

The next major trigger for risk assets could be a rate cut by the U.S. Federal Reserve on September 18. CME Group’s FedWatch tool shows an 85% chance of a 25 basis point cut.

Sentiment appears to have improved as Bitcoin broke above $58,000 on September 9. According to Farside Investors data, US-based ETFs saw positive inflows on September 9 and September 10.

Can buyers extend the recovery in Bitcoin and some altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin Price Analysis

Bitcoin’s recovery faces selling at the 20-day EMA ($57,841), but the long wick of the September 11 candlestick shows solid buying near $55,724.

If the price breaks above the 20-day EMA, it suggests that the bulls are trying to form a higher low. This increases the chances of a break above the 50-day SMA ($60,259). The BTC/USDT pair could rally to $65,000.

Conversely, if the $55,724 support is broken, it will be a signal that the bears are maintaining selling pressure. The pair could plunge to $52,550 and then to the central support at $49,000.

Ether Price Analysis

Ethereum (ETH) bulls have pushed prices above the $2,300 level, but the relief rally is facing selling near the 20-day EMA ($2,451).

If the price holds below $2,300, it suggests that the bears are in control. Then, the ETH/USDT pair can fall to $2,111. Buyers will try to stop the decline from $2,111, but if the level breaks, the pair can reach the psychological support at $2,000.

If buyers want to make a comeback, they will have to hold the price above the 20-day EMA and kick it. The pair can rally to the 50-day SMA ($2,682) and later to the breakdown level of $2,850.

BNB Price Analysis

The recovery in BNB (BNB) is facing selling at the 20-day EMA ($522), indicating that the downtrend is active at higher levels.

If the bulls don’t give up much ground at current levels, a rally above the moving averages is more likely, which could lead to a rally to $600 and then $635.

This positive outlook will be invalidated in the short term if the price declines and breaks below the $495-$460 support zone. In that case, the BNB/USDT pair may start a downtrend towards $360.

Solana Price Analysis

The rescue rally in Solana (SOL) is facing a selloff at the 20-day EMA ($136), which suggests that the bears are not giving up and are selling on every minor upside.

The bears will try to push the price down to the central support level of $116. The bulls are expected to protect this support with all their might, as a drop below $116 could start a new downtrend towards $100 and then $80.

On the upside, the bulls will need to overcome the hurdle of the 50-day SMA ($148) to signal that selling pressure is waning. This could lead to a rally in the SOL/USDT pair to $164, which could act as short-term resistance.

XRP Price Analysis

XRP (XRP) fell to a low of $0.54 on September 9, but the bulls failed to overcome this barrier.

If the price continues to decline and falls below $0.52, it suggests that the bears have turned the $0.54 level into resistance. This could open the door for a drop to the $0.46-$0.41 support zone, where buyers are expected to step in. A bounce from the support zone could see the XRP/USDT pair stay in the $0.41-$0.64 range for a few more days.

A rally above the 50-day SMA ($0.57) will show strength to the bulls, who will try to push the pair to $0.64. This is a huge hurdle, but if it is crossed, the pair can run to $0.74.

Dogecoin Price Analysis

Dogecoin (DOGE) is facing selling near the downtrend line of a falling wedge pattern, indicating that the downtrend is active at higher levels.

If the price declines and stays below the 20-day EMA ($0.10), the DOGE/USDT pair could crash to $0.09. Buyers will need to defend this level fiercely if they want to prevent a crash to $0.08.

A potential trend change will be signaled after buyers push the price above the downtrend line. The pair may then attempt a rally to $0.14, where the bears will again attempt to halt the upward move.

Toncoin Price Analysis

TON Coin (TON) closed above the 20-day EMA ($5.34) on September 10, but the bulls are struggling to maintain the high.

The flattened 20-day EMA and the RSI just below the midpoint suggest that the TON/USDT pair could swing between the 50-day SMA ($5.97) and $4.50 for some time. The pair is at risk of completing a head and shoulders pattern below $4.50. If that happens, the pair could start a new downtrend towards $3.50.

If the bulls want to stop the decline, they will have to hold the price above the 50-day SMA and break it. This will then see the pair jump to overhead resistance at $7, which will bring the big $4.72-$8.29 range into play.

relevant: Will Bitcoin Price Crash Again?

Cardano Price Analysis

Cardano (ADA) is having a fierce battle between bulls and bears near the 20-day EMA ($0.34).

If the price declines and falls below $0.33, the ADA/USDT pair may slide towards the important support level of $0.31. Buyers are expected to defend that level aggressively, as a drop below it could see the pair fall to $0.24.

The first sign of an uptrend is a breakout and close above the 50-day SMA ($0.35). If that happens, the pair could head towards the downtrend line, and sellers are likely to be very defensive.

Avalanche Price Analysis

Bulls are having a hard time pushing Avalanche (AVAX) above the resistance line of the descending channel and are likely to sell at higher levels.

If the price breaks below the moving average, the AVAX/USDT pair could fall to $19.50, which is a vital support that the bulls need to defend, as a break and close below it could lead to a drop to $17.29 and eventually to the channel’s support line.

Conversely, if the price breaks above the 20-day EMA ($22.98), it will be a buy signal on the downside. This will improve the prospects for a rally above the downtrend channel. This could see the pair rally to $29 and then $33.

Shiba Inu Price Analysis

Buyers have been trying to push Shiba Inu (SHIB) above the 20-day EMA ($0.000014) for the past two days, but the downtrend has not subsided.

The bears will try to strengthen their position by pushing the price below the 0.000013 support. If successful, it will signal a resumption of the downtrend. This could lead to a sharp drop of SHIB/USDT to $0.000011 and later to $0.000010.

The 50-day SMA ($0.000014) is an important resistance level to watch on the upside. If buyers overcome this barrier, the pair is likely to gain momentum and move up to $0.000016. The bears will try to stop the upside movement at this level, but a breakout is expected.