Price Prediction 9/18: BTC, ETH, XRP, BNB, SOL, DOGE, ADA

BNB attained a new all-time high a few hours ago, peaking above $1,000 for the first time. However, it is experiencing slight selling pressure at the time of writing and trades slightly below the ATH.

Nonetheless, BNB is seeing a steady flow of volume, with the latest reading estimating a 32% increase in trading volume over the last 24 hours.

Aside from the altcoin, the global crypto market is seeing slight increases at the time of writing. The cap broke above its 1-month high, peaking at $4.08 trillion. Buying and selling also picked up, with volume increasing by over 48%.

Regarding fundamentals, the market’s reaction to Wednesday’s rate cut was not as significant as many had anticipated. Nonetheless, the latest rise in the price of several assets suggests no adverse reactions in the wake of the event.

However, this does not mean that the investors are satisfied with the outcome. The fear and greed index moved by only 1 point, indicating no tremendous positive response to the 25 bps cut.

Conversely, some cryptocurrencies saw massive increases over the last 24 hours. Aster is up by a whopping 319% during this period.

A sweep through the top 10 shows that most are edging closer to breaking above a key level. Let’s take a closer look at them.

BTC/USD

Bitcoin ended Wednesday with slight losses following its rebound from $114,747. It prints a green candle at the time of writing as it trades above its 1-month high.

The apex coin broke above $117k a few hours ago and edged close to $118k. However, it is experiencing slight rejections and trades at $117,461 after peaking at $117,934.

The 1-day chart shows that BTC may see further increases in the coming days. One such indication is the bollinger bands. The largest cryptocurrency is trading near the upper band, but has yet to break it. Its current reading places the band at $118,726; this may be the next price target.

However, the 4-hour warns of impending retracements. The apex coin is trading at bollinger’s upper band, indicating a high likelihood of a correction. Nonetheless, the moving average convergence divergence on this timeframe is positive, supporting the 1-day signal.

While there’s a high chance of retracement, Bitcoin may flip $118k before it happens.

ETH/USD

Ethereum is trading at $4,600 and prints a doji at the time of writing. It saw slight increases but lost momentum and trades at its opening price. Nonetheless, it performed better on Wednesday, gaining 2% after rebounding from $4,416.

A closer look at the chart reveals that it bounced off bollinger’s middle band during the previous intraday session, but has since lost momentum. MACD noted a slight change in momentum, causing the 12 EMA to slow its ascent.

Nonetheless, the proximity between the 12 and 26 EMA suggests an impending bearish crossover. If this happens, the altcoin may slip below $4,400 in the coming days.

The 4-hour chart supports this assertion, as ETH’s last five candles are among the smallest, indicating low volatility. However, it is worth noting that the asset is lingering close to bollinger’s upper band, and corrections may follow.

XRP/USD

XRP prints its third consecutive green candle on the 1-day chart. However, the current candle carried no significant change as the asset is grappling with slight selling pressure. 

Nonetheless, the latest candlestick indicates a decline in momentum, and the 4-hour chart suggests that this may lead to a price retracement in the coming days. One such indication is the bollinger bands. The altcoin is trading close to the upper hand, hinting at the end of the uptrend.  

Previous price movements indicate that the altcoin will drop below $3. A close look at the chart reveals that this is a key battleground, and the chances of a rebound at this level are high. 

BNB/USD

The 4-hour chart reveals that BNB experienced one of its most enormous surges on Wednesday. In the session starting at 20:00 UTC, it surged from $957 and peaked at $995. The coin crossed $1000 a few hours later. 

However, the altcoin lost momentum afterward and is grappling with a drop in volatility as trading volume plummets. A closer look at the chart reveals that BNB is printing lower highs while maintaining a hold above $992. 

It is worth noting that the asset is overbought, as RSI is currently at 75 and has trended parallel for most of the last 12 hours. These trends indicate an impending downtrend that may send the cryptocurrency as low as $950. 

SOL/USD

Solana surged higher and broke above $250 for the first time since January. The coin is edging closer to attaining its highest value this year, but indicators are blaring warnings. 

The altcoin broke above the bollinger bands a few hours ago and still trades above them. Additionally, RSI is at 69, and a further price increase will likely cause the asset to become overbought.

While these indicators suggest that the coin will experience notable retracements in the coming days, recent price movements indicate that SOL will surge higher, potentially reaching $260. 

DOGE/USD

Like BNB, DOGE is experiencing notable selling pressure at the time of writing. The 4-hour chart reveals that the coin had a more than 2% increase in the previous candle. However, it currently prints a red one. 

A closer look at the chart reveals that the memecoin’s descent began after it broke above the bollinger bands. If this trend continues, the cryptocurrency may drop to a low of $0.262.

Nonetheless, the relative strength index is at 61, a few points lower than its previous high. The readings from this metric also suggest that the ongoing correction may extend. 

ADA/USD

The 4-hour chart shows that ADA just attained a new high of the week. It peaked at $0.93 but sees slight retracement at the time of writing.

The coin broke above the bollinger bands a few hours ago and still trades above it. Additionally, RSI is at 67, and a further price increase will likely cause the asset to become overbought.

The previous price moment indicates no significant selling congestion at the current price. This may mean a further price increase, and ADA may test $0.95.

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