The recovery in Bitcoin and altcoins is facing selling at higher levels, indicating negative sentiment in the market.
Bitcoin has been range-bound since April, showing indecision about its next move.
Cryptocurrency traders remain cautious, with capital outflows of $55 billion in August.
Bitcoin’s price is currently above the 20-day exponential moving average, but it is not out of the woods yet.
Ether has seen solid buying at lower levels, with a potential short squeeze if it breaks above the 20-day EMA.
BNB has bounced off support near $200, but sentiment remains negative and a breakdown is possible.
XRP has been trading in a range between $0.41 and $0.56, with the 20-day EMA as a key level to watch.
Cardano’s strong selling was halted at crucial support, but a sharp turn down could increase the risk of a drop.
Dogecoin continues to trade in a tight range, with a breakout expected soon.
Solana has been swinging between $14 and $27.12, with the 20-day EMA as a key level to watch.
Toncoin has seen buying at dips, with resistance at $1.98 as an important level to break.
Polkadot is trading below the breakdown level of $4.22, with strong selling expected at that level.
Polygon slipped below critical support at $0.51 but has seen a rebound towards the 20-day EMA.
Summary:
– Recovery in Bitcoin and altcoins facing selling at higher levels
– Bitcoin stuck in a range, indecision about next move
– Cryptocurrency traders remain cautious, capital outflows of $55 billion in August
– Bitcoin’s price above 20-day EMA but not out of the woods yet
– Ether shows solid buying at lower levels, potential short squeeze if it breaks above 20-day EMA
– BNB bounces off support, but sentiment remains negative
– XRP trading in a range, 20-day EMA as key level to watch
– Cardano’s strong selling halted at crucial support, risk of drop if turns down sharply
– Dogecoin trading in tight range, breakout expected soon
– Solana swinging between $14 and $27.12, 20-day EMA as key level to watch
– Toncoin sees buying at dips, resistance at $1.98 as important level to break
– Polkadot trading below breakdown level, strong selling expected at $4.22
– Polygon rebounds from critical support, 20-day EMA as key level to watch
