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BTC, ADA and BNB Price Analysis for September 9

Price Predictions
Thu, 09/09/2021 - 15:49
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Denys Serhiichuk
Can altcoins recover faster than Bitcoin (BTC) after the recent dump?
BTC, ADA and BNB Price Analysis for September 9
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The bearish mood has changed to a bullish one fast as all of the top 10 coins have returned to the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, in the first half of the day, there was pressure from the bears. They managed to push the Bitcoin price below $46,000, but sales volumes decreased and the daily low was recorded around $44,440.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

In the afternoon, buyers returned the pair to the support of $46,000 and, by this morning, the price was trying to hold at this level in a narrow consolidation.

Related
Bitcoin (BTC) Price Analysis for September 8

It looks like, today, bears may try again to test the $42,447 level. The most likely scenario is the further decrease in the rate of the decline.

Bitcoin is trading at $47,017 at press time.

ADA/USD

Cardano (ADA) is the biggest gainer from the list, rising by 7%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

On the daily chart, Cardano (ADA) is showing strength after a recent sharp decline. The rise is also supported by an increasing trading volume, which means that buyers are ready to restore the price to its previous positions.

Related
BTC, ETH and XRP Price Analysis for September 4

If they manage to achieve it, there is a high chance to see a test of the peak around $3.10 soon.

ADA is trading at $2.573 at press time.

BNB/USD

Binance Coin (BNB) has gained the least from the list as the growth of the native exchange coin has been only 1.19%.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

From the technical point of view, BNB has entered the bullish zone, and it seems that it is not going to fall. However, the volume is low, which means that traders are accumulating power for a further price blast. If they hold the price above $412, the resistance at $456 can be attained shortly.

BNB is trading at $418.40 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.