Price Analysis 9/25: BTC, ETH, XRP, BNB, SOL, DOGE, ADA

XRP continues its downward movement after recovering the previous day. Its current price indicates that it has erased the gains it had on Wednesday.

The asset is advancing, edging toward reclaiming a critical level. Recent reports on trading volume indicate that XRP is experiencing significant trading activity, which supports its upward momentum.

Nonetheless, the crypto market is experiencing yet another day of considerable price decline. The global cryptocurrency market has reached its lowest value in nearly 30 days. It dropped to a low of $3.75 trillion a few minutes ago as another round of selling took place. Trading volume remains higher than the previous day, increasing by over 16% in the last 24 hours.

Apart from prices, the latest decline began after key economic indicators from the US became public. The PCE release occurred a few hours ago, revealing rising inflation, which has caused panic among investors. They panicked, but selling pressure is receding.

Several assets retraced to their lowest levels of the week but show slight signs of recovery. For example, Aster is edging closer to sealing its first red after three days of consistent price increases. Down by 13%, the token rebounded from a drop to $1.86.

With some assets seeing slight buyback, let’s examine their prospects in the coming days. 

BTC/USD

Bitcoin is down by almost 2% over the last 14 hours, after retracing from $113,351, and is currently trading at $111,600. Nonetheless, the apex coin retraced lower a few minutes ago, rebounding at $110,889. 

The latest price increase shows ongoing buyback after the asset dropped below $111k for the first time in the last fourteen days. Nonetheless, it’s seeing a slight pullback, and the 4-hour chart displays some positive indicators.

The apex coin broke below the bollinger bands during its recent decline. It trades below the mark at the time of writing, suggesting an impending rebound. A closer look at the charts reveals a similar occurrence, followed by a period of range-bound movement and slight recovery.

If the trend repeats, the apex coin may hover around $111k for the rest of the week, with a slim chance of reclaiming $112k. Nonetheless, BTC may retest $110k if the buyback fails.

ETH/USD

Ethereum slipped below $4k for the first time in more than 30 days. The largest altcoin opened the day at $4,153 nd broke the support, dropping to a low of $3,926. Currently down by almost 5%, there are no huge signs of an ongoing buyback.

Nonetheless, its slip below $4,000 saw it drop below the bollinger bands, and on the 4-hour chart, it is currently trading outside of it. While this reading may suggest an impending buyback, the moving average convergence divergence reveals a previous bearish crossover that happened earlier on Thursday. 

The metric is not reacting to the latest buyback attempt, indicating lingering bearish sentiment. With differing readings from both indicators, it suggests notable uncertainty across the market. However, previous price movements reveal that the altcoin has not found support. This means that the likelihood of further retracement is high.

ETH may drop below $3,900 in the coming days if the downtrend continues. Conversely, a recovery close to $4,200 is also possible.

XRP/USD

XRP prints its first green candle of the day on the 4-hour chart. The altcoin has been on the decline for most of the day, dropping by over 3% before recovering.

It briefly broke below $2.80 a few minutes ago, edging closer to testing bollinger’s lower band before rebounding. However, MACD remains negative amid the ongoing buyback, with the 12 and 26 EMA remaining close as a bearish crossover looms.

The indicator suggests that XRP will retrace lower. If this happens, the altcoin may drop to a low of $2.70 in the coming days. Conversely, maintaining the ongoing buyback will result in a surge to $2.95.

BNB/USD

Like XRP, BNB is printing its first green candle of the day.  It has been in a downtrend since the start of the day, dropping by almost 2% during the first four hours of Thursday.

Nonetheless, the latest candlestick follows its recent drop to $980. Its most recent attempt at this level marks its second of the day, suggesting notable demand concentration around it. Additionally, the lower band is at the mark. 

While notable demand concentration may signify further increases, the coin remains at risk of slipping lower. It may retest its previous low at $960 or surge higher, retesting $1,020.

SOL/USD

SOL dropped to a low of $197, slipping below $200 for the first time since Sep 2. The altcoin rebounded and trades at $203, like XRP, printing its first green on the 4-hour chart.

However, indicators suggest that the altcoin is gearing up for further increases. It rebounded after dropping below the bollinger bands. Although it trades within the metric at the time of writing, previous price movement indicates no notable demand concentration at the current price. The coin must reclaim $205 or risk further decline. Solana may slip lower, edging closer to $190.

DOGE/USD

The 4-hour chart shows that DOGE saw a significant buyback a few hours following its retracement to a low of $0.225. It rebounded and is now trading at $0.232.

The memecoin is losing momentum, having peaked slightly higher a few hours ago. Nonetheless, the moving average convergence divergence is nearing completion of its bearish crossover, suggesting further retracement ahead.

Nonetheless, the memecoin recently broke below the bollinger bands and trades close to it at the time of writing. The BB may indicate more recovery, with the price reclaiming $0.24. However, it will be short-lived as the bearish sentiment remains strong.  

Dogecoin may retrace further, dropping to $0.22 in the coming days.

ADA/USD

Like XRP, ADA prints its first green candle of the day on the 4-hour chart. The altcoin has been on the decline for most of the day, dropping by over 4% before recovering.

It briefly broke below $0.77 a few minutes ago, breaking below bollinger’s lower band before rebounding. However, MACD remains negative amid the ongoing buyback, with the gap between the 12 and 26 EMA widening after a bearish divergence.

Although Cardano is green, it is not out of the danger zone. Readings from MACD indicate that a further decline may occur, potentially causing the coin to slip below $0.76. 

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