Briefly –
- ETH and BTC bounced at the horizontal support zones.
- NEAR attained an ATH on 9 September.
- EGLD broke out from its ascending price channel.
BTC
After attaining $52,950 highs on 7 September, the flagship token plunged to $42,483 after some hours. However, Bitcoin bounced back from its support, creating a lower wick. With such action, the crypto validated the horizontal support at $44K and the super-trend line as its support.
Meanwhile, technical indicators turned bearish. The Relative Strength Index maintains beneath 50 as the Moving Average Convergence Divergence depicts negativity. With that, Bitcoin shows bearishness even as it holds its support.
ETH
On 31 August, Ethereum conquered the resistance area at $3,330 before climbing to the $4,027 highs on 3 September. However, the altcoin plummeted the following days towards the lows at $3,005 before rebounding with a bottom wick.
Technical indicators show mixed actions. While the RSI and MACD decrease, the latter is positive while the former remains over the 50-level. Moreover, the Relative Strength Index formed a concealed bullish divergence.
Meanwhile, long-term price indicators support bearish gestures as the wave count shows that ETH reached a top.
NEAR
On 7 September, NEAR overpowered the horizontal resistance level at $7.80 following a significant bullish candle. The breakout happened amid considerable volume. NEAR registered bullish moves since then to reach its record ATH on 9 September at $11.88. The token made the high over the 1.61 external Fibonacci retracements when accounting for recent plunges.
If NEAR sustains its upsurges, it will encounter the nearest resistance at $17.27 at 2.61 external Fibonacci level. Meanwhile, neither the RSI nor the MACD indicates weaknesses.
EGLD
EGLD has maintained its upsurges within an ascending channel since 22 June. On 10 August, the altcoin broke out to validate the channel’s resistance line as its support. EGLD registered a massive rebound after this validation. For now, the alternative token tries to move over the horizontal resistance at $205. If it manages to do that, EGLD will register another ATH.
RAY
RAY has moved upwards to reach the $17.80 high on 28 August. Meanwhile, a price plummet followed, and the token validated $10 as its support on 8 September. RAY has registered upticks since then. If the asset manages to crack above its current resistance zone, it will have its following resistance at $22.60, the 1.61 external Fibonacci retracement resistance.
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