Cryptocurrencies returned to bearish in September after recovering from the previous crash that lasted several months in August. The bearish period could now be over, as the price movement of most cryptocurrencies shows, and some are even rising higher. This could be the start of an upswing as some of the major cryptocurrencies are showing such signs. These cryptos are listed below:
Bitcoin Weekly Chart Analysis – The upward trend continues
The 50 SMA continues to push BTC / USD higher
Look at the weekly newspaper BITCOIN Chart we can see that the uptrend has never been questioned. Even the deepest pullback ever in Bitcoin in May-July was just a normal pullback before resuming the uptrend, looking at higher timeframe charts.
Bitcoin retreated to the 50 weekly SMA (yellow), where it reversed higher by early September. Then came the second retreat as the crackdown on the market intensified. But the 50 SMA has come to the rescue again, with the 20 SMA (gray) also helping the situation. The price has risen from around $ 40,000 to over $ 55,000. The other big cryptos don’t follow suit apart from ETHER which has also made some decent gains. Now the next targets are $ 60,000 and $ 65,000 for BTC / USD.
Shiba Inu Coin Daily Chart Analysis – The Range Breakout
May reach the highs
Meme coins like Shiba Inu and Dogecoin have gotten pretty weak since the May crypto crash, especially the SHIB. While all other coins resumed the uptrend in late July, Shiba Inu continued to trade in a range between $ 0.0000055 and $ 0.0000095.
Now this cryptocurrency is trading well above the upper range so it is now heading for all-time highs. We can’t see the May high here because most crypto brokers / exchanges started listing SHIB / USD after the surge at the time, until then it was a little unknown crypto. Elon Musk’s tweet about her family’s Shiba Inu pet dog helped trigger that surge. Coinbase added Shiba Inu to its list while a major whale investor was seen buying Shiba coins. So this rally seems sustainable.
Fantom Daily Chart Analysis – FTM / USD Challenging All Time Highs
Fantom is about to hit the September highs
The Shiba Inu continues the rise today, as does Bitcoin, while the Fantom coin has only followed this rise in the last two days. The August rally sent the price close to $ 2, which is more than double its previous all-time high, and after retreating to the May high in September, the price bounced off it.
The upswing started yesterday, which means that even more steam can be blown up in the coming days. The rebound started yesterday at 20 SMA (gray) on the daily chart and now this cryptocurrency is challenging the September highs as it rises higher which I believe will soon decline.
Axie Infinity Coin Daily Chart Analysis – Small pullback after big spike
The downward rebound before the next rise higher?
Axie Infinity is the native token of a play-to-earn game and has done its best since early July, when the market was still going down. Over the past week, the price has more than doubled from $ 73 where it was trading on Monday to $ 154, and more than tripled from the low after the September pullback.
The tremendous attention given to this game has driven revenue through the roof as it topped $ 2 billion despite the price dropping since Monday. But compared to the tremendous bullish momentum shown by the two big bullish candlesticks, the pullback appears to be slow.