Bitcoin Price Analysis
Bitcoin turned down from the 20-day exponential moving average ($59,655) on September 3 and fell to the $55,724 support on September 4.
The bulls are expected to defend the $55,724 level vigorously because if the support breaks, the BTC/USDT pair may tumble to $49,000. This level may attract solid buying, but the bears will try to halt the relief rally at $55,724. Below $49,000, the next support could be $42,000.
This negative view will be invalidated in the near term if the price rises from the current level and breaks above the 50-day simple moving average ($61,712). The pair could then climb to $65,000 and later to the crucial resistance at $70,000.
Ether Price Analysis
Ether has been swinging between $2,300 and $2,850 for a few days, suggesting buying on dips and selling on rallies.
If the price continues higher from the current level and breaks above the 20-day EMA ($2,577), it will signal that the consolidation may continue for a few more days.
Conversely, if the relief rally turns down from the 20-day EMA, it will suggest that sentiment remains negative, and traders are selling on every minor rise. This will increase the likelihood of a break below $2,300. If that happens, the ETH/USDT pair could plummet to $2,111 and eventually to the psychological level of $2,000.
BNB Price Analysis
BNB’s (BNB) bounce off the $495 support reached the 20-day EMA ($535) on September 3, but the bulls could not overcome this barrier.
If the $495 level cracks, the BNB/USDT pair could dive to the $460 support. This is an essential level for the bulls to protect because a break below it may intensify selling and pull the pair to $400.
On the upside, the bulls will need to push and maintain the price above the moving averages to suggest that the range-bound action may continue for a while longer. The next leg of the up move is expected to begin on a close above $635.
Solana Price Analysis
Solana (SOL) has approached the support of the large $116 to $210 range, where buyers are likely to step in.
The bulls will try to push the price above the 20-day EMA ($141), which is the first sign of strength. The SOL/USDT pair could then rise to the 50-day SMA ($153). A break and close above this resistance will suggest that the pair may remain inside the range for some more time.
The bears, however, will try to defend the moving averages and pull the price below $116. If they succeed, it will signal the start of a new down move to $100.
XRP Price Analysis
The bears pulled XRP (XRP) below the $0.54 support on September 4, but the long tail on the candlestick shows solid buying at lower levels.
Any relief rally is likely to face stiff resistance at the moving averages. If the price turns down from the moving averages, the possibility of a break and close below $0.54 increases. The XRP/USDT pair could then plunge toward $0.49.
Conversely, if buyers propel the price above the moving averages, it will suggest that the pair may extend its stay inside the $0.54 to $0.64 range for a while. A break above $0.64 will open the gates for a possible rally to $0.74.
Dogecoin Price Analysis
The bulls attempted to push Dogecoin (DOGE) above the 20-day EMA ($0.10) on September 3, but the bears held their ground.
The bears are trying to pull the price below $0.09, but the bulls are likely to aggressively defend the level. If the price rises from the current level and breaks above the 20-day EMA, it will suggest that selling dries up at lower levels. The DOGE/USDT pair could then climb to the downtrend line.
Contrarily, if the price continues lower and breaks below $0.09, the decline could extend to $0.08 and subsequently to the support line of the falling wedge pattern.
Toncoin Price Analysis
Toncoin (TON) has formed a large head-and-shoulders pattern, which will complete on a close below $4.72.
The bears have pulled the price below $4.72 but are likely to find buyers at lower levels. If the bears prevail and the price closes below $4.72, it will signal the start of a new downtrend. The next support on the downside is at $3.50.
Alternatively, if the price fails to close below $4.72, it will signal that bulls are active at lower levels. The bulls will need to push and maintain the TON/USDT pair above the 50-day SMA ($6.27) to signal a comeback.
Cardano Price Analysis
Cardano (ADA) is witnessing a tough battle between the bulls and the bears at the $0.31 support.
The downsloping moving averages and the RSI in the negative territory indicate that the bears have the upper hand. If the price remains below $0.31, selling could pick up, and the ADA/USDT pair may plunge to $0.27 and later to $0.24.
Instead, if the price turns up from $0.31, the recovery is likely to face resistance at the moving averages. Buyers will need to push and maintain the price above the downtrend line to suggest the start of a new up move.
Avalanche Price Analysis
Avalanche (AVAX) has been gradually sliding toward the horizontal support at $19.50, indicating that the bears have maintained their pressure.
Sellers will try to strengthen their position by pulling the price below $19.50. If they succeed, the AVAX/USDT pair could slump to $17.29 and later to the support line of the descending channel pattern.
Conversely, if the price bounces off $19.50, it will suggest that the bulls are trying to defend the level. Buyers will need to push and sustain the price above the channel to indicate a potential trend change.
Shiba Inu Price Analysis
Shiba Inu (SHIB) once again turned down from the 20-day EMA ($0.000014) on September 3, indicating that the bears remain in command.
Sellers are trying to pull and maintain the price below the immediate support at $0.000013. If they manage to do that, the SHIB/USDT pair is likely to slide to the August 5 intraday low
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