A comprehensive price analysis of major cryptocurrencies including Bitcoin, Ethereum, and others on September 18th

The Bitcoin price has dropped below $60,000, indicating nervousness among the bulls in the market. As the interest rate decision by the Federal Reserve on September 18 approaches, volatility is likely to rise, but a trending move in either direction is uncertain.

What’s Next for Bitcoin?

The flattening 20-day EMA and the RSI near the midpoint do not clearly favor either the bulls or the bears. If the price turns up from the 20-day EMA and breaks above the 50-day SMA, it will signal the start of a strong recovery. Above $60,000, the Bitcoin price may travel to $65,000.

On the other hand, if the price skids below the 20-day EMA, the selling may pick up, and the pair could plummet to the $55,000 to $50,000 support zone.

Other Cryptocurrencies: Where Are They Headed?

Ethereum (ETH)

• Ethereum has been trading near the downtrend line of the falling wedge pattern.
• If the price turns up and breaks above the downtrend line, it will suggest the start of a new uptrend. The ETH/USD pair could rally to $3,000, where the bears may mount a strong defense.

Cardano (ADA)

• Cardano has formed a descending triangle pattern, which will complete on a break and close below $0.31.
• If that happens, the ADA/USD pair is likely to dip to $0.24. This is an essential level to watch out for because if it cracks, the selling could intensify, and the pair may enter a free fall toward $0.20.

Avalanche (AVAX)

• The bulls are struggling to push Avalanche above the resistance line of the descending channel.
• If they succeed, the AVAX/USD pair could rally to the breakdown level of $29 and thereafter to $33.

Market Outlook

The market is volatile, and every investment and trading move involves risk. Readers should conduct their own research when making a decision.

Key Takeaways

• Bitcoin’s price has dropped below $60,000, indicating nervousness among the bulls.
• Volatility is likely to rise as the interest rate decision by the Federal Reserve on September 18 approaches.
• Other cryptocurrencies, such as Ethereum, Cardano, and Avalanche, are also experiencing volatility.

What’s Next?

The market is uncertain, and every investment and trading move involves risk. Readers should conduct their own research when making a decision.

Explore More Articles Like This

Subscribe to the Markets Outlook newsletter for critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies. Delivered every Monday.

By subscribing, you agree to our Terms of Services and Privacy Policy.