Bitcoin
BTC$16 999.10

0.30%

Ethereum
ETH$1 258.79

-0.89%

Tether
USDT$1.000138

0.01%

Binance Coin
BNB$289.87

-0.40%

USD Coin
USDC$1.000102

0.01%

Binance USD
BUSD$1.000239

0.01%

Bitcoin price in line for impulsive bounce as Solana (SOL) leads altcoin surge


09 Sep 2021

#Solana

Things are looking up for Bitcoin and altcoins on Thursday, but the chance of a breakdown remains, one analyst warns. Bitcoin (BTC) volatility is again overdue, and one analyst is favoring an “impulsive” move toward $50,000. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing to circle $46,000 on Thursd as an eerie calm lingered over the market. 

Tuesday saw mass upheaval as a cascade of unwound positions sparked a huge $9,000 daily loss for Bitcoin, something analysts have since pinned on overleveraged traders. While the event’s lows of $42,800 have not been retested, a breakdown is not off the cards, popular trader Crypto Ed says.

“Looks like a bullish pennant to me...Impulsive bounce followed by consolidation,” he summarized alongside an updated chart Wednesday. “Chill and wait for the break out. Wrong when it breaks down.”

With expectations thus skewed to the upside, fellow trader and analyst Rekt Capital eyed an ongoing retest of Bitcoin’s 50-day exponential moving average (EMA) as a potential game-changer.

“This is the first time that BTC is retesting the blue 50-day EMA as support, after having reclaimed it as support in late July,” he noted. “The 50-day EMA is useful for understanding bullish momentum as it tends to support established uptrends.” 

Altcoins recover as Solana passes $200

Improved performance across major altcoins, meanwhile, is giving hope to the bullish short-term case for Bitcoin. While BTC/USD has stayed broadly flat overnight, all of the top 10 cryptocurrencies by market capitalization have posted solid gains of at least 4%. Ether (ETH) added 4.5% to circle $3,470 at the time of writing, while Cardano (ADA) recovered above $2.50. Still outshining the pack, however, is Solana (SOL), now trading above $200 on 32% gains in just 24 hours.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 74.4% 45 $16 999.10 0.30% 2.81% $326 793 694 340 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 72% 50 $1 258.79 -0.89% 3.82% $154 042 450 353 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.4% 1 $1.000138 0.01% 0.06% $65 505 283 273 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 72.8% 54 $289.87 -0.40% -7.09% $46 371 221 042 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 92.4% 1 $1.000102 0.01% -0.01% $43 358 494 798 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 95.6% 1 $1.000239 0.01% 0.07% $22 157 473 654 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 78% 44 $0.388809 -1.23% -3.85% $19 541 690 215 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 63.2% 79 $0.103561 1.75% 1.87% $13 739 497 371 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 66.4% 68 $0.320391 -1.17% 1.19% $11 037 404 828 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 91.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 67.2% 69 $0.912162 -1.15% 6.57% $7 967 115 477 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 71.6% 56 $5.53 -0.48% 2.89% $6 315 400 348 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 90.8% 1 $1.000046 0.02% 0.06% $5 687 378 055 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 66% 77 $76.27 -0.54% -0.95% $5 472 754 389 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 74% 50 $0.053237 -1.60% -0.26% $5 412 950 383 WTRX 7 days price change

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