BTC, ETH, XRP, NEAR, HBAR, RAY, EGLD – Technical Analysis September 9

Bitcoin (BTC) created a lower long wick after bouncing around the $ 44,000 horizontal support area.

Ethereum (ETH) and XRP (XRP) are trading above horizontal support levels.

Near Protocol (NEAR) reached a new all-time high on September 9.

Hedera Hashgraph (HBAR) broke out of a long-term parallel descending channel.

Raydium (RAY) bounced off the $ 10 horizontal support area.

Elrond (EGLD) exited a parallel ascending channel.


After hitting a high of $ 52,950, BTC fell on September 7 and hit a low of $ 42,483 on the same day. However, it bounced back after reaching support and created a long lower wick (green arrow).

Due to the bounce, BTC validated the Supertrend line (green) and the $ 44,000 horizontal area as support.

However, the technical indicators turned bearish. MACD is negative and the RSI is below 50.

refore, even if BTC remains above the support, the technical indicators turn bearish. »alt =» BTC Daily movement »width =» 1531 ″ height = »827 ″ Layout = »intrinsic» disable-inline-width = »» i-amphtml-layout = »intrinsic»>

TradingView BTC chart


On August 31, ETH managed to break out of the $ 3,330 resistance area and hit a high of $ 4,027 on September 3.

However, it fell dramatically four days later and hit a low of $ 3,005. It bounced after doing this low and created a lower long wick.

Technical indicators are mixed. While both the MACD and the RSI are falling, the former is positive and the latter is above 50. Also, the RSI has generated a hidden bullish divergence.

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Long-term indicators are showing bearish signals and the wave count suggests that a high has been reached.


On August 13, XRP broke the horizontal resistance area of ​​$ 1.05 and validated it as support six days later.

rise continued with a breakout of a symmetrical triangle, which led to a high of $ 1.41 on September 6.

However, XRP posted a sharp decline on September 7, preceded by bearish divergences in both the RSI and MACD.

While XRP is still above the $ 1.05 support area, it is possible that the bullish momentum is complete and XRP is now correcting.


On September 7, NEAR broke the horizontal resistance area of ​​$ 7.80 amid a sizable bullish candle. breakout occurred with very significant volume.

NEAR has been on the rise since then and hit a new all-time high of $ 11.88 on September 9. high was reached just above 1.61. External Fib retracement level when measuring the most recent drop.

If the upward movement continues, the next resistance would be at $ 17.27. This target is the Fib 2.61 external retracement level.

Neither the MACD nor the RSI show signs of weakness.


HBAR has declined within a parallel descending channel since March 15. downward movement continued until a low of $ 0.1382 was reached on June 22.

Since then, HBAR has moved higher and exited the parallel channel on August 14. It pulled back to validate the channel’s resistance line as support (green icon) on September 8.

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Currently, HBAR is trying to break out of the horizontal area of ​​$ 0.34. If so, the next resistance level would be at $ 0.42.

Both the MACD and the RSI are rising, supporting the possibility of a breakout.


RAY rose in August and peaked at $ 17.80 on August 28.

A decline followed to validate the $ 10 area as support on September 8 and RAY has risen since then.

If it manages to break out of the current resistance, the next resistance area would be at $ 22.60. This is the resistance level of the external Fibonacci retracement of 1.61.


EGLD has been on the rise within an ascending parallel channel since June 22. On August 10 it managed to break and validate the resistance line of the channel as support (green icon). After validation, EGLD posted a strong rebound.

Currently, the EGLD is attempting to break out of the $ 205 horizontal resistance area. This would likely take it to a new all-time high.

For the latest Bitcoin (BTC) analysis from BeInCrypto, click here.


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