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Monday, September 20, 2021

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Bitcoin lifts altcoins – Solana pumped, Cardano weakened – TecnoAlimenPortal

Bitcoin (BTC), the key crypto currency, has risen again in recent trading days and is also gaining prices for most altcoins. Solana (SOL), in particular, defies any indication of price weakness and again tends to be significantly higher.

The respite in the cryptocurrency market was short-lived. In the last week of trading, the bulls reverted to their former strength, again launching the vast majority of Altcoins north. Solana (SOL), in particular, was only aware of one direction this week and is currently jumping from all-time highs to all-time highs. The mixed situation in many cryptocurrencies should still be seen as bullish and could give an additional boost to the market as a whole.

Best price development among the top 10 altcoins: Solana (SOL)

Solana moves further north and was able to beat the next major price target at $ 121.79 on the third try. Solana is currently consolidating slightly sideways, but the north-facing upper Bollinger band makes it increasingly likely that the trend towards $ 160.94 will continue.

Bullish variant (Solana)

Solana is currently preparing to open its own NFT market. If interest in non-fungible tokens continues unabated, the 361 Fibonacci extension should be on target in the near future. If the bulls manage to overcome this long-term resistance without significant price pullbacks, a march to the 461 Fibonacci extension at $ 200.09 is also conceivable in the coming weeks of trading. At this level of resistance, which is also psychologically important, investors are likely to want to make more profit. Looking ahead, Solana could even target the 561 Fibonacci extension at $ 239.24 in the coming months. A jump in price to the drivable maximum target price of $ 278.38 does not seem unrealistic by the end of the year. This target projection is derived from the 661 Fibonacci extension. With that,

Bearish variant (Solana)

If Solana bounces south around the $ 160.94 area or even earlier, a consolidation to $ 121.79 is likely initially. If this support dynamically undermines, the area around $ 107.81 comes into focus. In addition to horizontal support, the EMA20 (red) can also be found here. Even a small pullback towards $ 97.60 would not be absolutely problematic from a bullish point of view. This cross support of the 200 Fibonacci extension and the superstrend acts as the first relevant criterion. Once again, the buyer side will be ready and want to start a new uptrend. However, if the bears succeed in breaking through this price level at the daily closing price, the consolidation will expand to $ 82.64 or even $ 79.00. If this area also doesn’t stop, the area around $ 73.48 comes into focus.

This multiple support of the Fibonacci 138 extension, EMA50 (orange) and the upper edge of the bullish flag represents the maximum bearish price objective in the short term. If the SOL course does not turn significantly north in this area and then falls back to the flag and also breaks the $ 70.85 support, the price should fall again and fall back to at least $ 64.06. Even an extension of the correction to the old all-time high of $ 58.61 should be planned. At this price level, the old all-time high of May 19, strong resistance is again expected. A daily closing price below this strong support would further cloud the chart in favor of the bears. In the medium term, then a relapse to the medium-term maximum price targets on the lower side of $ 52.83 and $ 50.07 would no longer be ruled out.

Indicators (Solana)

The RSI and the MACD indicator continue to show a buy signal and so far they have made no move to deny it. Therefore, investors should use price reversals of $ 100 or less as a buying opportunity.

Worst price development among the top 10 altcoins: Cardano (ADA)

The Cardano price cannot stabilize above $ 3.00 despite the anticipated implementation of smart contracts in the course of the Alonzo upgrade. At the moment, the air seems to be a bit out of place, which is compounded by bearish divergences in the RSI indicator. In the short term, the ADA rate should be imposed above $ 2.70 to generate further upside potential. Only a price stabilization above the 138 Fibonacci extension allows for higher price targets.

Bullish variant (Cardano)

In the previous week, buying pressure on Cardano had a lasting effect. However, since ADA failed to sustainably break above the 138 Fibonacci extension at $ 3.02 and is currently threatening to dip below $ 2.86, the bulls will have to show in the coming days how serious they are with you. . If the Fibonacci 161 extension succeeds in attacking, a very significant resistance level would be reached. If there is no significant selloff, the 200 Fibonacci extension at $ 3.92 comes into focus.

If developers show strong interest in scheduling dApps on the ADA chain, an increase of up to $ 4.83 can be expected in the medium term. This means that the price target of $ 5.00 that many analysts have rumored has almost been reached. If Cardano is becoming increasingly popular in the developer community, a price jump to the 361 Fibonacci extension at $ 6.29 is conceivable in the medium term. If there is a year-end rally in the market as a whole, the ADA rate could even take off in the direction of the Fibonacci 461 extension at $ 7.75. At the moment, this course level represents the ultimate goal.

Bearish variant (Cardano)

The ADA price has failed to break the resistance at $ 3.02 at the daily close since the last price analysis on September 3. This refocuses the EMA20 (red) as the first relevant support at $ 2.70. If the bears manage to dynamically push the ADA rate below 2.70, a correction to around $ 2.46 is likely to widen. The first buyers are likely to return to the market here. A drop to $ 2.30 is also not problematic from a bullish point of view and should be seen as a short-term price target on the downside for the next few trading days. A clear bounce north should be planned at the latest in the superstrend. If this support level is below the daily closing price, the correction extends to $ 2.15. In addition to the Fibonacci 78 retracement, the EMA50 (orange) can also be found here.

If, contrary to expectations, this support level also breaks, the price targets at $ 2.02 and $ 1.90 are triggered. Particular attention should be paid to the cross support of the Fibonacci 61 retracement and the August 18 low at $ 1.90. A small price drop to $ 1.82 or even $ 1.74 would also be conceivable. This is where the 1950s Fibonacci Retracement and Lower Bollinger Band runs. If the area at $ 1.74 is also not stopping, a relapse into the green support zone should be planned. In addition to the 38 Fibonacci retracement at $ 1.56, the breakout level of the current price rally and $ 1.48 can also be found here. Also, the important MA200 (green) and EMA200 (blue) moving averages run in this area. From today’s perspective, Cardano could correct as high as $ 1.35. For the moment, however,

Indicators (Cardano)

The aforementioned bearish divergence in the RSI indicator displays its strength in the last trading days. The buyer side looks a bit exhausted in the short term and may have to gain new momentum to achieve a sustainable stabilization beyond $ 3.02. Since the MACD indicator has also generated a sell signal, investors should first wait for the bottom to form before making any further purchases. In general, however, nothing changes in the bullish valuation, both indicators continue to show a buy signal on the weekly chart.

Stability Top 10

After a mixed week earlier, the top 10 Altcoins are also picking up speed again. The 10 largest cryptocurrencies show a price increase in a weekly comparison. Most of the top 10 altcoins are also rising faster than Bitcoin itself. Solana (SOL) can rebook the win of the week with a 53 percentage point increase in value. Polkadot (DOT) and Chainlink (LINK) are also bullish, each up 34 percent to the north. With a price increase of 22 percent and 20 percent respectively, Ethereum (ETH) and Ripple (XRP) can generate a respectable price increase. On the other hand, Cardano (ADA) and Binance Coin (BNB) are trending sideways with only one and four percentage points increase in value in a weekly comparison. Regarding the classification, there are two changes in the place. Solana trades places with Dogecoin (DOGE) and climbs to sixth place.

Winner and loser of the week

After a short respite and slight profit-taking with Bitcoin, it may stabilize above psychological $ 50,000 over the weekend and also boost the market as a whole. About 90 percent of the top 100 Altcoins show a price increase during the week. Fantom (FTM) in particular stands out with a 125 percent price increase. IOTA (MIOTA) and the previous week’s winner Bitcoin Cash ABC (BCHA) are also bullish. Both altcoins are up 91 percentage points each northward. The newcomer eCash (XEC) and Quant (QNT) can also convince with 81 percent and 68 percent, respectively.

About half of the top 100 Altcoins show a price increase of more than 20 percentage points this week. This underlines the friendly atmosphere in the cryptocurrency market. The short list of Altcoins in trouble is headed by Meme-Coin SafeMoon (SAFEMOON) with a six percent price decline, followed by Flow (FLOW) with a nice five percent price discount. Furthermore, Tezos (XTZ) lost four percentage points in value due to slight profit taking, which is not surprising after a strong performance the week before.

Disclaimer: The price estimates presented on this page do not constitute purchase or sale recommendations. They are just an analyst assessment.

The chart images were created using TradingView.

USD / EUR exchange rate at time of publication: 0.84 euros.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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