Bitcoin (BTC) created a bullish engulfing candle on September 14th.
Ethereum (ETH) and SushiSwap (SUSHI) are attempting a breakout via descending parallel channels.
XRP (XRP) is trading above the horizontal support area of $ 1.05.
Hedera Hashgraph (HBAR) hit an all-time high on September 15.
Verge (XVG) has likely completed the ABC correction structure.
Curve DAO Token (CRV) has broken above a descending resistance line.
BTC
BTC rebounded after hitting a low of $ 43,400 on September 13. The next day, a bullish candle emerged that hit as high as $ 47,250. The uptrend also served to confirm the $ 43,950 area as support. This is the 0.382 fibonacci retracement support.
Despite the recovery, technical indicators are falling. The MACD is falling and is about to move into the negative zone, the RSI is below 50 and the supertrendline is bearish. The last time it did this was after falling from its all-time high in April.
BTC / USDT daily chart | Source: TradingView
ETH
Since September 7th, ETH has been trading in a descending parallel channel. Since the upturn on September 13th, it has moved upwards.
The rally preceded the bullish divergence of the RSI and MACD. The first indicator has now moved above the 50 mark while the second is preparing to break into the positive zone.
If there is a breakout, ETH is likely to encounter strong resistance at $ 3,650. This is the 0.618 fib retracement resistance and the descending resistance line.
ETH / USDT 6-hour chart | Source: TradingView
XRP
XRP hit a high of $ 1.42 on September 6, but plunged the next day. It has since traded just above the USD 1.05 support area.
While XRP is still trading above support, the indicators are bearish. Both RSI and MACD are falling. and the previous indicator moved below the 50 level.
XRP / USDT daily chart | Source: TradingView
HBAR
The HBAR has been moving up since it erupted through a descending parallel channel on Aug 28. The uptrend accelerated on September 11th and on September 15th the HBAR hit an all-time high.
The technical indicators are still rising as the RSI and MACD rise. Plus, none of them created a bearish divergence.
The next resistance is between $ 0.60 and $ 0.64 and is generated by two different Fib levels.
Daily HBAR / USDT Chart | Source: TradingView
XVG
On August 24th, XVG broke the rising support line.
This decline looks corrective, like the ABC structure, where wave A: C has a ratio of 1: 1. Additionally, both the RSI and the MACD create bullish divergences.
Hence, the price is likely to bounce off current levels.
XVG / USDT 6-hour chart | Source: TradingView
CRV
On July 25, CRV broke out above a descending resistance line. After initially battling the $ 2.43 resistance area, it successfully broke out on September 14th.
Both the MACD and RSI are rising, which supports the continuation of the uptrend.
The closest resistance is at $ 3.70.
Daily CRV / USDT Chart | Source: TradingView
SUSHI
Similar to ETH, SUSHI has been trading in a descending parallel channel since August 21.
It rebounded on September 7th after reaching the channel’s support line. SUSHI is currently nearing the resistance level and may be ready to attempt a breakout.
RSI and MACD are both rising and supporting the breakout. The first indicator is above 50 while the second indicator is in positive territory.
SUSHI / USDT 6-hour chart | Source: TradingView
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
SN_Nour
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