The strength of the United States dollar index could put pressure on Bitcoin and select altcoins in the near term.
Bitcoin’s weakness on September 24 indicates that bears are still in control, but bulls are likely to defend the $26,000 level.
A positive monthly close for Bitcoin in September would be a major sentiment booster, as October tends to favor buyers.
The strength of the US dollar and its potential upside could pose a risk to cryptocurrency recovery.
The S&P 500 Index is facing a bearish head and shoulders pattern, with a target objective of 4,043 if it maintains below 4,325.
The US dollar index has formed a golden cross, indicating further potential upside.
Bitcoin price has fallen below the 20-day exponential moving average, with the key support at $24,800.
Ether price is slipping towards the pivotal level at $1,531, but a bullish divergence in the RSI suggests selling pressure may be reducing.
BNB price has been trading in a range between $220 and $203, with a bullish divergence in the RSI indicating weakening bearish momentum.
XRP price has fallen below the 20-day EMA, with a potential support at the uptrend line.
Cardano price has dropped to the critical support at $0.24, with a bullish divergence in the RSI suggesting a potential bounce.
Dogecoin price is stuck in a tight range between $0.06 and the 20-day EMA, with a breakout direction difficult to predict.
Toncoin price turned down from overhead resistance at $2.59, with the first support at the 20-day EMA.
Solana price is clinging to the 20-day EMA, indicating a battle between bulls and bears.
Summary:
– The strength of the US dollar could put pressure on Bitcoin and altcoins.
– Bitcoin’s weakness suggests bears are in control, but bulls may defend the $26,000 level.
– A positive monthly close for Bitcoin in September would be a sentiment booster.
– The US dollar index has formed a golden cross, indicating potential upside.
– Altcoins like Ether, BNB, XRP, Cardano, Dogecoin, Toncoin, and Solana are facing various technical patterns and levels of support and resistance.
