Evening technical analysis on September 9th: BTC, ETH, XRP, NEAR, HBAR, RAY, EGLD

Bitcoin (BTC) created a long wick at the bottom after bouncing off the horizontal support area of ​​$ 44,000.

Ethereum (ETH) and XRP (XRP) are trading above the horizontal support levels.

Near Protocol (NEAR) hit a new all-time high on September 9th.

Hedera Hashgraph (HBAR) has broken out over a long-term descending parallel channel.

Raydium (RAY) ricocheted off the $ 10 horizontal support area.

Elrond (EGLD) erupted over an ascending parallel channel.

BTC

After hitting a high of $ 52,950, BTC fell on September 7 and hit a low of $ 42,483 that same day. However, it rebounded on the support area after impact, creating a long wick underneath (green arrow).

Due to the rebound, BTC confirmed the supertrend line (green) and the horizontal zone of USD 44,000 as support.

However, the technical indicators are falling. The MACD is in negative territory and the RSI is below 50.

As a result, although BTC holds above support, the technical indicators are turning bearish.

BTC / USDT daily chart | Source: TradingView

ETH

On August 31, ETH broke out of the $ 3,330 resistance area and hit a high of $ 4,027 on September 3.

However, the price fell sharply in the following 4 days, reaching as low as $ 3,005. The price rebounded after hitting that low, creating a long wick underneath.

The technical indicators give mixed signals. While both the MACD and RSI are falling, the former is in positive territory and the latter is above 50. Additionally, the RSI has created a potential bullish divergence.

The long-term indicators are giving bearish signals and the wave number shows that the price has peaked.

ETH / USDT daily chart | Source: TradingView

XRP

On Aug 13, XRP broke the $ 1.05 horizontal resistance area and confirmed it as support six days later.

The price continued to move higher, breaking above a symmetrical triangle to a high of $ 1.41 on September 6th.

However, XRP saw a sharp decline on September 7th, preceded by a bearish divergence in both RSI and MACD.

While XRP is still holding above the USD 1.05 support area, the upside momentum could be complete and XRP is currently correcting.

XRP / USDT daily chart | Source: TradingView

NEAR

On September 7th, NEAR broke above the horizontal resistance area of ​​$ 7.80 with a large bullish candle. The breakout occurs when there is a very high trading volume.

NEAR has risen since then, hitting a new all-time high of $ 11.88 on September 9th. The high was hit just above the external fib retracement level of 1.61 when measuring the recent decline.

If the uptrend continues, the next resistance will be found at $ 17.27. That target is the Fibonacci outer retracement level of 2.61.

Neither the MACD nor the RSI are showing any signs of weakening.

NEAR / USDT daily chart | Source: TradingView

HBAR

The HBAR has fallen within a descending parallel channel since March 15. The downtrend continued until the price hit a low of $ 0.1382 on June 22nd.

The HBAR has risen since then, erupting over the parallel channel on Aug. 14. It fell back to confirm the channel’s resistance level as support (green symbol) on September 8th.

Currently, HBAR is trying to cross the $ 0.34 zone. If successful, the next resistance will be at $ 0.42.

Both the MACD and RSI are rising, which supports the possibility of a breakout.

HBAR / USDT 6-hour chart | Source: TradingView

BEAM

RAY rose in August to hit a high of $ 17.80 on August 28.

Then the price fell significantly. However, that decline did not confirm the $ 10 area as support until Sept. 8. RAY has risen since then.

If the price breaks the current resistance, the next resistance will be found at $ 22.60. This is the Fibonacci retracement resistance level outside of 1.61.

RAY / USDT 6-hour chart | Source: TradingView

EGLD

EGLD has been rising within an ascending parallel channel since June 22nd. It broke out on August 10, confirming the resistance line of the channel as support (green symbol). After confirmation, EGLD experienced a strong rally.

Currently, EGLD is trying to move above the $ 205 resistance area, which could push it to an all-time high.

12-hour EGLD / USDT chart | Source: TradingView

You can see the coin prices here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

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