Crypto Overview for September 13

We make up a crypto markets overview containing the detailed technical analysis on Bitcoin and top altcoins. The market analysis is performed on the Daily timeframe.

Key topics

• Bitcoin (BTC/USDT)
• Ethereum (ETH/USDT)
• Binance Coin (BNB/USDT)
• Avalanche (AVAX/USDT)
• Solana (SOL/USDT)
• Bottom Line

Bitcoin (BTC/USDT)

The resistance level with the upper border of $20,460 was broken on the Daily timeframe on September 9. The trend is bullish now and the impulse wave develops.

A pullback buying opportunity will appear after the correction formation on the Daily timeframe.

In case of successful development of the trend, a more distant target will be on the highs of June 6 – 8, where the next resistance is located with the borders of $31,400 – $31,965.

Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of September 6 – 9. The borders of this support are $18,395 – $18,777.

Ethereum (ETH/USDT)

The market is in the uptrend on the Daily price chart, and the correction wave develops.

A pullback buying opportunity will appear after the correction completion on the Daily timeframe. Based on the price chart, this may happen in the near future.

The highs of September 10 – 12 will be the target for the bullish movement continuation after the correction is finished.

In case of successful development of the trend, a more distant target will be on the highs of August 12 – 15, where the next resistance is located with the borders of $1,986 – $2,034.

Long positions will remain relevant until the market is above the nearest support level on the Daily chart, the lows of September 6 – 8. The borders of this support are $1,494 – $1,555.

Binance Coin (BNB/USDT)

The market is in the uptrend on the Daily timeframe and the correction wave develops.

A pullback buying opportunity will appear after the correction completion on the Daily timeframe. The highs of September 9 – 13 will be the target for the bullish movement continuation after the correction is finished. This is the price zone with the borders of $296.7 – $300.

If the market is closed above this resistance successfully, the price is likely to move forward to the target #2 – it is the resistance level with the borders of $336 – $328.5 formed on August 10 – 14.

Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of September 6 – 7.

Avalanche (AVAX/USDT)

The resistance level with the upper border of $20.60 was broken on the Daily timeframe on September 11. The trend is bullish now and the impulse wave develops.

A pullback buying opportunity will appear after the correction formation on the Daily timeframe. The new resistance level that can be formed around these price marks or the highs of August 23 – 26 will be the target for the bullish movement continuation after the correction is finished.

In case of successful development of the trend, a more distant target will be on the highs of August 12 – 14, where the next resistance is located with the borders of $29.45 – $30.35.

When breaking through the support, the trend will reverse and we should look for selling opportunities. The borders of this level are $17.90 – $18.25.

Longs will remain relevant until the market is above the nearest support level on the Daily chart, the lows of September 6 – 7.

Solana (SOL/USDT)

The resistance level with the upper border of $33.90 was broken on the Daily timeframe on September 9. The trend is bullish now and the impulse wave develops.

A pullback buying opportunity will appear after the correction formation on the Daily timeframe. The new resistance level that can be formed after the start of thee correction, will be the target for the bullish movement continuation.

In case of successful development of the trend, a more distant target will be on the highs of August 12 – 14, where the next resistance is located with the borders of $29.45 – $30.35.

In case of successful development of the trend, a more distant target will be on the highs of August 12 – 15, where the next resistance is located with the borders of $46.60 – $48.55.

Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of September 6 – 7.

Bottom Line

In terms of medium-term trading, tokens with the correction close to completion on the Daily timeframe and with potentially the most promising risk-reward ratio are Ethereum and Binance Coin.

In the near future, many tokens will provide excellent opportunities to enter the market with a huge reward / risk ratio.

We used support and resistance levels for the analysis in this market overview.
FYI. We are building an indicator that will automatically plot key levels on all timeframes on all popular tokens..

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