Weekends generally witness a decrease in trading volume in the cryptocurrency markets, which facilitates sudden price fluctuations. While we now see the weekend volumes of a few months ago during weekdays, investors need to be more cautious about potential movements that may occur on Saturdays and Sundays. The absence of market makers can significantly increase the volatility of altcoins, even with a few million dollars in net sales.
Ethereum (ETH) Reviews
On September 20th, the ETH price turned from the 20-day EMA and the loss of the $1,628 region indicates that the bears continue to steer the ship. Strong selling pressure following each rally is a standard move in bear markets. Investors chasing short-term gains are causing further strengthening of resistances.
The profit-oriented approach of daily traders leads to a narrower spread and a decrease in volatility. At the time of writing, the bears have not been successful yet, but their target is to bring the price below the $1,530 support. If they achieve this target, a move towards $1,368 may begin.
In the opposite scenario, a close above $1,630 will result in a jump to $1,745.
Dogecoin (DOGE) Price Reviews
On September 21st, Dogecoi turned down from the 20-day EMA ($0.06), indicating that bears are aggressively defending the level. If sellers manage to keep the price below $0.06, we may see a long-awaited drop to $0.055.
If bulls manage to push the price above the 20-day EMA, we may see a move towards the 50-day SMA ($0.07) and then towards $0.08.
ADA Coin Chart Reviews
ADA Coin is preparing for a period of high volatility. If the price loses $0.24, the target of the descending triangle formation may be achieved. Gradually declining moving averages provide an advantage for bears, but the bullish divergence in the RSI indicates a slowdown in the downward momentum. If the breakdown below $0.24, supported by the negative sentiment in the overall market, occurs, we may see the price drop to $0.22 and $0.19.
In the opposite scenario, testing $0.28 and surpassing the profit zone at $0.3 can be targeted. At the time of writing, the Bitcoin price dropped below $26,520, and if the price continues to stay in this range, we may see the realization of bearish scenarios for altcoins in the next 24 hours.
Disclaimer: The information in this article is not investment advice. Investors should be aware of the high volatility and therefore risk associated with cryptocurrencies and should conduct their own research before making transactions.
Source
