Bitcoin (BTC) broke the $ 51,200 resistance area.

Ethereum (ETH) and XRP (XRP) are in the fifth wave of their bullish momentum.

Monero (XMR) is following an ascending support line.

serum (SRM) was rejected from the $ 9.90 resistance area.

Cardano (ADA) is declining towards the horizontal support area of ​​$ 2.45.

Solana (SOL) reached a new all-time high price on September 7.

BTC

After being rejected by the 0.618 Fibonacci retracement resistance level on August 23, BTC created a candlestick shooting star and retraced.

On September 5, BTC finally managed to break through and peaked at $ 52,920 two days later. Technical indicators are providing several bullish signals. bearish divergence trend line on the RSI was broken and the MACD generated successive higher momentum bars.

next closest resistance is at $ 57,250. This target is the 0.786 Fibonacci Retracement Resistance Level and a horizontal resistance area.

ETH

ETH has been moving higher since June 22 and created a higher low on July 20.

After initially struggling to break out of the $ 3,200 resistance area, ETH has started another up move and has so far reached a local high of $ 4,027.

wave count indicates that ETH is in the fifth wave of bullish momentum.

most likely target for the top of the bullish move is between $ 4,160 and $ 4,264. This range is made up of the Fibonacci external retracement resistance level 1.61 (black) and wavelength 1-3 (orange) 0.618.

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XRP

Similar to ETH, XRP has been rising since June 22 and created a higher low on July 20.

After breaking out of the $ 1.05 resistance area, the price returned and validated the level as support on August 16.

Following this, XRP broke out of a symmetrical triangle on September 1.

wave count suggests that XRP is in the fifth wave of bullish momentum. most likely target for the top of the bullish move is between $ 1.53 and $ 1.57. This range is found using the 1.61 outer Fibonacci retracement of wave four and the 0.618 length of waves 1-3.

XMR

XMR has been following an ascending support line since July 20. It managed to break out of the $ 277 horizontal resistance area on August 20 and came back to validate it as support on August 31.

As long as the rising support line remains intact, the bullish formation is still valid. While both the RSI and MACD are showing signs of weakness, the former is still above 50 and the latter is positive.

closest resistance area is at $ 390.

SRM

SRM has been climbing along an ascending support line since July 20. On August 31, it attempted to break out of the $ 9.90 resistance area, but was rejected, creating a long upper wick (red icon).

He is currently in the process of making another escape attempt, but has created another long upper fuse.

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If it breaks above this resistance or is rejected, it will be very important in determining the direction of the future trend.

Due to the current rejection, SRM may retest the rising support line before moving higher.

ADA

ADA has gone up since July 20. On August 22, it broke the $ 2.45 resistance area and reached a new all-time high of $ 3.10 on September 2.

However, it fell sharply after both the RSI and MACD generated bearish divergences. It is currently approaching the $ 2.45 area again.

ADA appears to be in a long-term fifth wave, so it could peak soon if it hasn’t already. If another bullish move occurs, the most likely target for the top would be between $ 3.38 and $ 3.51.

SUN

SUN has risen rapidly since July 20. On September 7, it reached a new all-time high of $ 195.48.

Since the upward move began, SOL has been briefly retraced by multiple outer Fibonacci retracement levels (red icons). Today it reached the external Fib retracement level of 4.61, which often acts as a bullish move.

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

Disclaimer

All information on our website is published in good faith and for general information purposes only. Any action taken by the reader on the information found on our website is strictly at your own risk.

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