Technical Analysis on September 18: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, LINK, SUI

Bitcoin (BTC) is fluctuating around the mark of 116,600 USD, facing strong selling pressure at the resistance zone of 117,500 USD. Nevertheless, the positive point is that the bulls are still determined to hold the support level of 115,500 USD, right after the Fed's decision to lower interest rates by 0.25% in last night's meeting. According to expert Jelle, this could pave the way for BTC to gradually reclaim its historical peak. In contrast, Ted issues a cautious warning that the king of cryptocurrencies may still fall deep to 104,000 USD, even 92,000 USD, before bouncing strongly to new highs.

Meanwhile, Tom Lee – co-founder of Fundstrat and Chairman of BitMine – shared on CNBC that BTC and Ether (ETH) are likely to "make a spectacular breakthrough" in the next three months. He emphasized that the main momentum comes from the Fed's first rate cut in many years, combined with favorable seasonal factors, which could trigger a strong bullish wave for both BTC and ETH.

So what are the notable support and resistance levels of BTC as well as the top altcoins? Let's dive deep into the chart analysis of the 10 largest cryptocurrencies in the market.

Technical Analysis of BTC

BTC has fluctuated within the range between the (SMA) 50-day simple moving average at 114,320 USD and resistance above 117,500 USD in the past few days.

Daily BTC/USDT Chart | Source: TradingViewThe 20-day Exponential Moving Average EMA( is trending upwards at 113,919 USD along with the RSI index being in the positive zone, increasing the chances of a breakout above 117,500 USD. If this happens, the BTC/USDT pair could advance to 120,000 USD and then to 124,474 USD.

However, this optimistic scenario will be invalidated if the price falls below the 20-day EMA line. At that point, Bitcoin may continue to fluctuate in the zone of 107,000 – 117,500 USD for some time. The bears will regain control if the price closes below 107,000 USD.

Technical analysis of ETH

Ether has adjusted to the 20-day EMA at 4,450 USD – a strong support zone.

![])https://img-cdn.gateio.im/webp-social/moments-446880b4d72ef7f069d16b18b0455aea.webp(ETH/USDT daily chart | Source: TradingViewIf the price bounces strongly from this level, it indicates that buying power in the lower zone is still very solid. At that time, the bulls will seek to push the ETH/USDT pair above the resistance zone of 4,770 – 4,957 USD. If successful, the ETH price could explode to 5,500 USD. The psychological level of 5,000 USD may pose a temporary obstacle, but it is likely to be breached.

On the contrary, if the price breaks the 20-day EMA line, the next target will be the 50-day SMA at 4,288 USD, then down to 4,060 USD. The bears will dominate if the price closes below the support of 4,060 USD.

Technical Analysis of XRP

Buyers are trying to hold XRP above the moving averages, but are still struggling to create a clear upward bounce.

![])https://img-cdn.gateio.im/webp-social/moments-235d2b99f8e65c3227dd21c8f5f7533a.webp(Daily XRP/USDT Chart | Source: TradingViewThe bears will try to pull the price below the 20-day EMA at 2.97 USD. If successful, the XRP/USDT pair could fall to the strong support zone at 2.73 USD. This will be the front line that the bulls will fiercely defend, as breaking this level will complete the descending triangle pattern, pulling the XRP price down to 2.20 USD.

On the contrary, if the price bounces from the current zone and exceeds 3.20 USD, it indicates that the bulls have regained control. At that point, the pair could target 3.40 USD.

Technical Analysis of BNB

BNB continues to approach the psychological threshold of 1,000 USD, indicating that the bulls still maintain control.

![])https://img-cdn.gateio.im/webp-social/moments-1820c22187110905b83489b9785b9eb4.webp(BNBUSDT daily chart | Source: TradingViewBears will try to stop the rally as the price approaches 1,000 USD. Conversely, the bears need to pull the BNB price below the 20-day EMA )897 USD( to weaken the uptrend. If that happens, the BNB/USDT pair could drop to the 50-day SMA at 847 USD.

On the contrary, if the buyers do not let the price break below the 20-day EMA, it indicates strong demand at lower levels, reinforcing the likelihood of a continuing upward trend towards 1,090 USD.

Technical Analysis of SOL

Solana has only made a slight adjustment, indicating that the bulls are not in a hurry to sell because they expect the price to have the next upward movement.

![])https://img-cdn.gateio.im/webp-social/moments-c1b687ebffa31f02c5ecc02bb54aa900.webp(Daily chart of SOL/USDT | Source: TradingViewThe 20-day EMA at 220 USD is an important support zone to watch. If the price bounces from this zone or the uptrend line, it reflects positive sentiment and opens up the possibility of breaking out to 260 USD – where bears are expected to reappear.

On the contrary, if the price breaks and closes below the 20-day EMA, it implies that the bulls are taking profits. At that time, the SOL/USDT pair may retreat to the 50-day SMA at 197 USD. This will be a zone strongly defended by the bulls, as if it breaks, the price of Solana risks falling deeply to 173 USD.

Technical Analysis of DOGE

Dogecoin )DOGE( is currently adjusting and trying to hold at the support zone of 0.26 USD. However, the inability to surge strongly indicates that the buying power from the bulls is still quite weak.

![])https://img-cdn.gateio.im/webp-social/moments-945aafaecbab6c68af054f3b3ea27511.webp(DOGE/USDT daily chart | Source: TradingViewThe 20-day EMA line )0.24 USD( is an important level to watch. If the price bounces back from the 20-day EMA with strong momentum, the bulls will attempt to push the DOGE/USDT pair above the 0.31 USD mark. In this scenario, the price of Dogecoin could rise to 0.35 USD, even reaching 0.44 USD.

On the contrary, if the price falls below the 20-day EMA, the trading pair may drop to the 50-day SMA )0.22 USD(, and then further down to the strong support zone at 0.21 USD.

Technical Analysis of ADA

Cardano )ADA( is continuing to trade within a symmetrical triangle pattern, reflecting uncertainty about the next direction of the market.

![])https://img-cdn.gateio.im/webp-social/moments-09514a84d8eca622cb6fedd155393475.webp(ADA/USDT Daily Chart | Source: TradingViewThe 20-day EMA )0.86 USD( is quite flat along with the RSI index around the neutral threshold indicating that both the bulls and bears do not have a clear advantage. If the price continues to fall and breaks below the support zone, it will imply that the bulls have given up, pulling the ADA/USDT pair down to 0.68 USD.

On the contrary, the advantage will tilt towards the bulls if they can push the price of Cardano above the resistance line. At that point, the trading pair could break out to 1.02 USD and then to 1.17 USD. However, the zone of 1.17 – 1.25 USD is expected to see strong selling pressure.

Technical Analysis HYPE

Hyperliquid )HYPE( is finding buying pressure at the 20-day EMA )51.05 USD(, indicating that investors are taking the opportunity to accumulate when the price adjusts.

![])https://img-cdn.gateio.im/webp-social/moments-af6befbdd4b58e246822c6923c581025.webp(Daily HYPE/USDT chart | Source: TradingViewThe bulls will try to push the HYPE/USDT pair above the resistance zone of 57.44 USD to restart the uptrend. If successful, the price of Hyperliquid could aim for the model target at 64.25 USD.

On the contrary, if the price reverses and breaks through the support level of 49.88 USD, it will indicate that the bulls are starting to flee. At that point, the trading pair could plunge towards the 50-day SMA of )45.74 USD(.

Technical Analysis of LINK

The recovery of Chainlink )LINK( stalled at 25.64 USD on Saturday, indicating strong selling pressure at higher zones.

![])https://img-cdn.gateio.im/webp-social/moments-9a1ce78216e20efb8b844a9645fcef6c.webp(LINK/USDT daily chart | Source: TradingViewThe bears are trying to push the price below the important support zone at the 50-day SMA )22.40 USD(. The bulls are expected to fiercely defend the zone from the 50-day SMA to the upward trend line.

If the price bounces from this support zone, the bulls will try to push Chainlink above the downtrend line. Success would open up the opportunity to drive the price back up to 25.64 USD and then to 27 USD. However, the zone of 27 – 27.84 USD is expected to be a major challenge for the bulls.

Technical Analysis of SUI

Sui )SUI( broke through the downtrend on Saturday, but the next day the bears pulled the price back below the breakout zone.

![])https://img-cdn.gateio.im/webp-social/moments-d765afab7692db6b705813c69ce17219.webp(Daily SUI/USDT Chart | Source: TradingViewCurrently, the bulls are making efforts to hold the price above the moving averages, but the selling pressure from the bears is still being maintained. If the price drops below 3.45 USD, the SUI/USDT pair may retreat to the strong support zone of 3.26 USD. Selling pressure may increase if the price breaks through 3.11 USD, opening up the possibility of a deeper fall to 2.80 USD.

To regain an advantage, the bulls need to push the price of Sui above 3.89 USD, signaling that the bears are gradually losing control. At that point, the price could surge to 4.18 USD.

SN_Nour