Bitcoin and major altcoins are down from their weekly highs, but there is an attempt to form a higher bottom, indicating buying on dips. The Federal Reserve’s decision to not hike interest rates may have triggered the sell-off in the cryptocurrency space. Bitcoin has remained flat while the S&P 500 and Nasdaq have seen declines. Altcoins have been unable to hold on to their intra-week gains. Bitcoin is trading between moving averages, indicating indecision between bulls and bears. Ether turned down from the 20-day EMA, suggesting continued selling on rallies. BNB turned down from $220 and broke below the 20-day EMA, indicating a potential consolidation between $203 and $220. XRP rose above the 20-day EMA but is struggling to sustain the recovery. Cardano’s price action has formed a descending triangle pattern, which will complete on a break below $0.24. Dogecoin turned down from the 20-day EMA but bulls are buying on dips. Solana rose above the 20-day EMA but bulls could not push the price to the 50-day SMA. Toncoin failed to rise above $2.59, with immediate support at $2.25. Polkadot is being fiercely guarded by bears at the breakdown level of $4.22. Polygon closed above the 20-day EMA but failed to build momentum.
