Bitcoin
BTC$42 798.37

-0.61%

Ethereum
ETH$3 288.08

-0.93%

Binance Coin
BNB$486.03

-1.28%

Tether
USDT$1.000293

-0.01%

Cardano
ADA$1.47

9.41%

USD Coin
USDC$0.999403

-0.03%

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 73.2% 55 $42 798.37 -0.61% 1.96% $810 244 910 076 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68% 68 $3 288.08 -0.93% 4.18% $391 908 921 176 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 70.4% 52 $486.03 -1.28% 10.69% $81 070 817 335 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 96% 1 $1.000293 -0.01% 0.02% $78 422 507 589 USDT 7 days price change
5 Cardano (ADA) ADA Cardano predictions 75.6% 52 $1.47 9.41% 26.14% $49 180 930 341 ADA 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 95.6% 1 $0.999403 -0.03% -0.13% $45 444 626 250 USDC 7 days price change
7 Solana (SOL) SOL Solana predictions 65.6% 78 $143.58 -2.42% 2.15% $45 085 165 160 SOL 7 days price change
8 XRP (XRP) XRP XRP predictions 71.6% 58 $0.770542 -1.02% 2.14% $36 726 427 109 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 70% 59 $83.96 -2.70% 15.15% $30 105 929 387 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 71.6% 53 $26.64 -5.58% 6.85% $26 304 651 272 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 76.8% 46 $0.171858 -4.91% 13.62% $22 800 590 095 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 63.6% 76 $90.03 -2.50% 1.10% $21 999 747 677 AVAX 7 days price change
13 Polygon (MATIC) MATIC Polygon predictions 71.6% 54 $2.40 2.86% 13.87% $17 560 566 970 MATIC 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 70% 59 $0.000029 -3.15% 3.87% $16 190 359 531 SHIB 7 days price change
15 Binance USD (BUSD) BUSD Binance USD predictions 94% 1 $1.000887 -0.02% -0.04% $14 460 011 930 BUSD 7 days price change

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