The strength of the US dollar index could put pressure on Bitcoin and other altcoins in the near future. Bitcoin’s weakness on September 24th indicates that bears are still in control, but buyers are trying to achieve a positive monthly close for Bitcoin in September. However, macroeconomic headwinds could make it difficult for Bitcoin bulls to maintain momentum. The US dollar index has been on a winning streak and has formed a golden cross, suggesting further potential upside. The S&P 500 Index has turned down sharply and could complete a bearish head and shoulders pattern if it stays below crucial support. The US dollar index is likely to hit resistance at 106, but sellers will need to bring the price back below the 20-day EMA to weaken bullish momentum. Bitcoin’s price has fallen and sellers will try to push it to solid support at $24,800. Ether has been slipping towards a pivotal level at $1,531, but a bullish divergence in the RSI suggests selling pressure may be reducing. BNB has been trading in a range between $220 and $203, with both moving averages sloping down but the RSI forming a bullish divergence. XRP has fallen below the 20-day EMA and could fall to the uptrend line, with strong support expected there. Cardano has dropped to critical support at $0.24, but a bullish divergence in the RSI could give bulls an advantage if they can push the price above the downtrend line. Dogecoin is stuck in a tight range between $0.06 and the 20-day EMA, with a breakout difficult to predict. Toncoin has turned down from overhead resistance at $2.59 and could dip to the 20-day EMA, but a rebound from there would indicate positive sentiment. Solana has been clinging to the 20-day EMA, indicating a battle between bulls and bears, with the 50-day SMA as a key level to watch.
