Bitcoin and major altcoins show weakness, but some data points favor bulls in the short term.
Bitcoin has been trading in a tight range between $25,333 and $26,156 since Sept. 1.
Historic data suggests that Bitcoin may continue to fall in September, which could embolden bears.
The rise of the U.S. Dollar Index may put pressure on Bitcoin in the short term.
Lower levels are likely to attract buyers, and the approval of Bitcoin spot exchange-traded fund applications could limit downside.
Bitcoin needs to break above $26,833 to start a relief rally.
Ether is facing resistance at $1,650, and a break below $1,600 could indicate bearish control.
BNB is trading below $220, but selling pressure is drying up at lower levels.
XRP is clinging to the $0.50 support, and a break below could extend its range-bound movement.
Cardano is trading within a tight range, with bears having a slight edge.
Dogecoin is attempting a relief rally but faces strong resistance at the 20-day EMA.
SOL’s recovery attempt is facing selling pressure at the downtrend line.
Toncoin’s rally has led to profit-booking, and the key support level to watch is the 20-day EMA.
Polkadot is struggling to rebound, and a break below $4.22 could lead to further downside.
Polygon reached the 20-day EMA but failed to clear it, indicating weak demand at higher levels.
Summary:
– Bitcoin and altcoins show weakness, but lower levels may attract buyers.
– Historic data suggests Bitcoin may continue to fall in September.
– The rise of the U.S. Dollar Index puts pressure on Bitcoin.
– Approval of Bitcoin ETFs could limit downside.
– Key levels to watch for each cryptocurrency: $26,833 for Bitcoin, $1,600 for Ether, $220 for BNB, $0.50 for XRP, $0.25 for Cardano, $0.06 for Dogecoin, $19 for SOL, $1.64 for Toncoin, $4.22 for Polkadot, and $0.50 for Polygon.
