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BTC, ETH, XRP, ZEN, UNI, OMG, AXS — Technical Analysis Sept 28

Bitcoin (BTC) was rejected by the $44,000 horizontal resistance space.

Ethereum (ETH) is following a descending resistance line and doubtlessly buying and selling inside a descending wedge.

XRP (XRP) is following a descending help line.

Horizen (ZEN) has damaged down from an ascending help line.

Uniswap (UNI) has damaged out from a descending wedge.

OMG Network (OMG) is following an ascending help line.

Axie Infinity (AXS) has damaged out from a descending resistance line.

BTC

On Sept 27, BTC was rejected by the $44,000 resistance space and created an extended higher wick (pink icon). This is a bearish signal for the reason that space had beforehand been appearing as help, and the rejection now validates it as resistance.

Technical indicators within the every day time-frame are bearish. Both the RSI and MACD are lowering. The former is adverse whereas the latter has simply fallen beneath 50.

The subsequent closest help space is discovered at $38,000.

ETH

ETH has been lowering beneath a descending resistance line since Sept 3. Most not too long ago, it was rejected by the road on Sept 16.

Due to the lengthy decrease wicks, the help line can’t be precisely decided. However, it’s attainable that ETH is buying and selling inside a descending wedge.

Despite the wedge usually being thought-about a bullish sample, technical indicators are impartial. The RSI is correct on the 50-line and the MACD is beneath 0, though it’s rising.

Therefore, the course of the pattern can’t be precisely decided on the present time.

XRP

XRP has been following a descending help line since Aug 17. So far, it has been validated a number of occasions, most not too long ago on Sept 21. The remaining contact of the help line (inexperienced icon) additionally coincided with the 0.618 Fib retracement help degree at $0.85.

Despite the truth that XRP is buying and selling above a confluence of help ranges, technical indicators usually are not bullish. The RSI is on the 50-line and the MACD is adverse, although it’s transferring upwards.

The closest help and resistance ranges are discovered at $0.76 and $1.07 respectively.

ZEN

ZEN has been lowering since Sept 15, after making a double prime sample and an extended higher wick. The sample was additionally mixed with a bearish divergence within the RSI.

Shortly after, it broke down from an ascending help line. The breakdown is supported by the MACD and RSI, that are each lowering.

The closest help space is discovered at $53.

UNI

UNI has been lowering since Sept 2. After the Sept 7 drop, it created a descending wedge, which led to a low of $17.73 on Sept 26.

However, UNI rebounded and broke out from the wedge. The breakout is supported by the rising MACD and RSI.

The closest resistance space is discovered at $26.15, created by the 0.618 Fib retracement resistance ranges.

If UNI is profitable in transferring above it, it could transfer towards new highs.

OMG

OMG has been following an ascending help line since July 20. However, since Sept 6, it has failed to interrupt out above the $10.60 space, which is the 0.618 Fib retracement resistance degree.

Despite the rejection, technical indicators are bullish. The RSI has generated a hidden bullish divergence and the MACD is constructive.

Therefore, an eventual breakout could be doubtless. This might take OMG towards the $15.33 all-time excessive worth.

AXS

AXS has been rising since Sept 21 when it bounced on the $48.28 help space. The subsequent day, it created a bullish engulfing candlestick and broke out from a descending resistance line.

Following this, it reclaimed the $63 horizontal space and validated it as help.

Both the MACD and RSI are rising, supporting the continuation of the upward motion.

The subsequent resistance space is discovered on the all-time highs of $94.50.

For BeInCrypto’s newest Bitcoin (BTC) evaluation, click on right here.

Disclaimer

All the knowledge contained on our web site is printed in good religion and for basic info functions solely. Any motion the reader takes upon the knowledge discovered on our web site is strictly at their very own threat.

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