BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Crypto

Crypto Traders Suggest New Resistance Levels for ATOM, APE, QNT and CHZ after Bitcoin Rally

BlockNews Team by BlockNews Team
September 15, 2022
in Crypto, DeFi, Investing, Opinion
Reading Time: 3 mins read
A A
Crypto-Market
1
SHARES
10
VIEWS
Share on TwitterShare on Reddit

Bitcoin performed slightly better for the second week of September, peaked at $18,510 on the 5th, and closed at $21,860 on the 11th. BTC is still at its accumulation level according to the 200-day Moving Average, although some altcoins have performed significantly better than the rest of the market, including Cosmos (ATOM), Apecoin (APE), and Quantum (QNT).

You might also like

Around The Block – MAR 24 Week in News

Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption

UK to Mandate Declaration of Crypto Holdings in Tax Forms

Crypto traders have opened up new recommended levels and possible scenarios for each coin that coincides with BTC’s movement, including further support and resistance zones. Of course, these areas are not guaranteed as “official” spots because prices may continue to fluctuate. However, the coins repeatedly proved that they bounce on specific levels, indicating new breakouts.

Disclaimer: This article is not financial advice.

Speculations on Septem-“bear” Still On-Going.

Experienced traders indicated that the price action for the given cryptocurrencies would happen in the short term during the month unless a key adverse event shakes things up, like a new Fed announcement or an influence from the stock market’s decline.

September has also never been a good month for cryptocurrency since the official market opening, hence why the community calls it “Septem-bear” or, as experts call it, The September Effect. It is always a period of massive corrections for cryptos, although some consider it a “pit stop” and accumulation phase before Bitcoin and most major altcoins rise again.

However, given that 2022 did not start with good price actions for crypto, it is still hard to determine the outcome of the charts. Fortunately, some tokens performed better than others and formed clean movements for day traders to understand the following possible directions.

Even if the September Effect once again influences stakeholders’ marketing psychology, perhaps the following could outdo the others in the market.

Bitcoin (BTC)

Bitcoin has been moving in between $17,500 to $25,000, which indicates a stalemate between buyers and sellers. However, looking at the weekly chart, BTC is still resting on the critical support area of the 200-day MA. Should this fall, there is no indication where the next bottom will hit.

However, looking at the 20-day Exponential Moving Average, BTC went over $20,662 on September 9, Friday. The 20-day EMA and the Relative Strength Index show a positive signal that buyers will continue to spike the price from here. The rise indicates that the sellers could resist higher, possibly at $21,950.

If BTC reaches above $22,000, it could propel to $23,500, which will set a new resistance level. If the indicators fail and the bears take over the market, BTC may descend to the $18,500 zone again.

Cosmos (ATOM)

ATOM was one of the better-performing altcoins since July 2022, with a roughly 86.93% gain. It started from the lowest bottom of the year at $5.55, but it is now floating at the $16 line. The chart shows beautiful curves of the price movement in the 10-day Simple Moving Average. As of September 9, it jolted from $13.88 to $17.98.

ATOM kept breaking new resistance levels and turned them into new support regions. It is now determining whether the $16 zone is the new support line or the latest tough resistance to beat.
Apecoin (APE)

Despite the hacking issues in the Bored Ape Yacht Club, APE seemed to outmaneuver the competition as soon as September started. It did fall into a 46% correction last month from $7.73 and closed at $4.7, but the MA and RSI indicators now show that the coin has passed through the “golden cross” – a price pattern where the 5-day MA gives through the 10-day MA line in the daily chart.

During the week of September 5 to 11, it gained 34.78%. It is in the $5.47 zone as of press time.

Quant (QNT)

QNT was one of the few altcoins that did better than the market in June, the worst month of 2022 so far. For the past three months, QNT surged 104.16%, constantly riding along the 10-day MA line until its correction on August 24 from $0.26 to a current $.2058.

Previous support levels indicate that the $0.1850 area makes a vital zone for bulls to hold, or the bears may push it down to $0.1660.

Tags: BlockchaincryptoWeb3
TweetShareShare

Recommended For You

Around The Block – MAR 24 Week in News

by BlockNews Team
March 24, 2023
0
Around the Block

Introduction In this recap of the crypto world, we will explore the events and news that had the most significant impact in the past week of March 20th....

Read more

Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption

by BlockNews Team
March 24, 2023
0
quicknode

QuickNode is leading the charge as Web3 is poised to revolutionize the world, but it needs its "WordPress moment" to accelerate positive disruption. Blockchain technology can upend manual-intensive...

Read more

UK to Mandate Declaration of Crypto Holdings in Tax Forms

by BlockNews Team
March 24, 2023
0
parliment

The government hopes to close regulatory gaps and stop illegal operations by enacting rules that address various parts of the industry. The requirement to disclose cryptocurrency holdings in...

Read more

The Fed Increases Interest Rates By 25 Basis Points- Impact On Crypto Prices

by BlockNews Team
March 24, 2023
0
The Fed Increases Interest Rates By 25 Basis Points- Impact On Crypto Prices

Crypto prices display rapid fluctuations as the U.S. Federal Reserve hikes interest rates by 0.25%. Investors remain upbeat about the medium-term outlook of Bitcoin and the wider crypto...

Read more

Telegram Enables USDT Stablecoin Payments on the Tron Network

by BlockNews Team
March 24, 2023
0
Telegram

Telegram integrates USDT-TRON (TRC20) into its platform, allowing users to send the stablecoin to their contacts seamlessly and without transaction fees. Telegram's venture into cryptocurrencies began with the...

Read more
Next Post
SEC-Logo-Bitcoin

SEC Thinks the CFTC Should Have More Authority Over Bitcoin and Certain Crypto Assets

Related News

Hong Kong

Hong Kong Hashkey Receives Approval to Manage 100% Crypto Portfolio

September 20, 2022
binance charity

Binance Charity To Fund Over 30,000 Web Scholarships This Year

January 24, 2023
binance usdc

Binance Bolsters USDC Holdings as BUSD Market Cap Declines

February 27, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Around The Block – MAR 24 Week in News March 24, 2023
  • Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption March 24, 2023
  • UK to Mandate Declaration of Crypto Holdings in Tax Forms March 24, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?