The recovery in Bitcoin and altcoins is facing selling at higher levels, indicating negative sentiment in the market.
Bitcoin has been stuck in a range since April, showing indecision about its next move.
Cryptocurrency traders have remained cautious, with capital outflows of $55 billion in August.
Bitcoin’s price broke above the 20-day EMA, suggesting weakening downside momentum.
Ether plunged below support but found solid buying at lower levels.
BNB bounced off psychological support, but sentiment remains negative.
XRP has been trading in a range, with the 20-day EMA as an important level to watch.
Cardano saw strong selling but found support at a crucial level.
Dogecoin continues to trade in a tight range, with a breakout expected soon.
Solana has been swinging between two levels, with resistance at the 20-day EMA.
Toncoin snapped back from the 20-day EMA, indicating buying interest.
Polkadot is trading below a breakdown level, with bears in control.
Polygon slipped below support but rebounded, nearing the 20-day EMA.
Summary:
– Bitcoin and altcoins face selling at higher levels, indicating negative sentiment.
– Bitcoin and Ether show signs of weakening downside momentum.
– Traders remain cautious, with capital outflows in August.
– Altcoins like BNB, XRP, Cardano, Dogecoin, Polkadot, and Polygon face various challenges in their price recovery.
