After closing the week down for the second time in a row, crypto markets are attempting to react without particular conviction.
Scrolling through the list of blue chips, there are alternating green and red arrows, with prices hovering above and below par.
Among the top 100 capitalized coins, Iota (MIOTA) rises to the podium, putting in the best rise of the day by climbing more than 7%. It is followed by the growth of Cosmos (ATOM) by 4% which rises over $4 per token, continuing the bullish phase that began last June and is still present today, being among the few cryptocurrencies that are bucking the trend with the rest of the sector.
On the opposite side, the negative performance of the day is for Algorand (ALGO), which retreats more than 6% from the opening of the day at $0.365, after closing the week among the best performers with a gain of more than 20%.
Bitcoin (BTC) – Technical Price Analysis
The weekend passed without any particular shocks for Bitcoin.
By the end of the month, it becomes important to have confirmation of the holding of the supports tested in the middle of last week in the $18,500 area.
The return of the purchases of the last few hours, to the highest levels in recent months, will have to be matched by the rise in prices in the coming hours, otherwise the opposite effect is likely.
Need to return above $19,100 USD within the next 3 days and attempt to reverse the negative balance that statistically characterizes the month of September.
Ethereum (ETH) – Technical Price Analysis
Although the month of September turns out to be heavier for ETH‘s balance, down more than 15% since the monthly open, the technical structure grants more room for maneuver to the prices of the second largest cryptocurrency by capitalization.
Holding support at $1,250 will also need to be confirmed in the coming days to increase the odds in favor of a new monthly cyclical phase.
Also for Ethereum, the buying volumes of the last few hours exceed the daily average of the last few months.
Therefore, confirmation is required with the return of prices above last week’s highs beyond $1,400. This is the level to follow in order to return to consider new medium-term purchases.