Technical Analysis on September 13: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, HYPE, SUI

Bitcoin (BTC) surged to a level of 116,495 USD on Friday, thanks to strong buying power from spot ETF funds, recording a net capital inflow of up to 1.7 billion USD for the week, according to data from SoSoValue.

Analyst Matthew Hyland notes that the Bollinger Bands indicator on the monthly timeframe is at an extremely "tight" level. Meanwhile, renowned analyst Crypto Ceasar shares that similar tightening in the past has often signaled strong volatility in an upward direction, forecasting: "BTC may experience a booming Q4."

However, the short-term picture is not always bright. JA Maartun, an analyst from CryptoQuant, warns that the upward momentum of BTC is weakening as "8 out of 10 signals in the Bull Score index" are sending negative warnings.

So what are the important support and resistance levels that investors need to monitor for BTC and the top altcoins? Let's take a look at the chart analysis of the top 10 cryptocurrencies in the market.

Technical Analysis of BTC

BTC broke through the resistance of 113,500 USD on Wednesday and continued to recover above the 50-day simple moving average (SMA) at 114,544 USD on Thursday.

Daily BTC/USDT Chart | Source: TradingViewThe nearest resistance is at 117,500 USD. If buying pressure is strong enough to break through this level, the BTC/USDT pair could rise to 120,000 USD, even 124,474 USD. Bears will try to stop the upward momentum at 124,474 USD, as a successful breakout could lead to the next bullish trend pushing the price up to 141,948 USD.

On the contrary, the bears need to pull the price below the 20-day exponential moving average (EMA) at 112.622 USD to weaken the bullish momentum. At that point, the price could drop to 107,000 USD, where strong buying pressure is expected to emerge.

Technical Analysis of ETH

Ether (ETH) broke out of a narrow trading range in an upward direction on Friday, indicating that the bulls are in control.

ETH/USDT daily chart | Source: TradingViewThe next target for the bulls is the 4,957 USD zone, where the bears are expected to increase selling pressure. If the price corrects from 4,957 USD but recovers from the 4,500 USD mark, the breakout outlook becomes even clearer. At that point, the ETH/USDT pair could surge to 5,500 USD.

In a negative scenario, if the price breaks below 4,250 USD, it indicates that the bears are selling in every small bounce. The price of ETH could drop to 4,060 USD, followed by 3,500 USD.

Technical analysis of XRP

XRP was pushed above the downtrend line by the bulls on Thursday, but the upward momentum is struggling to maintain the breakout.

Daily XRP/USDT chart | Source: TradingViewIf the price reverses and falls below the 20-day EMA at 2.93 USD, this signal could be a "bull trap." At that point, the bears will attempt to push the XRP/USDT pair down to the strong support area at 2.73 USD.

Conversely, if the price bounces back from the 20-day EMA and surpasses the 3.15 USD mark, it indicates that market sentiment has shifted from selling on the rise to buying on the dip. The price of XRP may continue to rise to 3.40 USD.

Technical Analysis of BNB

BNB reached a new all-time high of 925.35 USD on Friday, reflecting the efforts to expand the advantage of the bulls.

BNB/USDT daily chart | Source: TradingViewIf it maintains above 900 USD, the BNB/USDT pair could reach the psychological level of 1,000 USD. Bears are expected to defend strongly at this level, but if bulls can hold the 20-day EMA at (868 USD) during the correction, market sentiment will remain positive. At that point, BNB could extend its upward trend to 1,090 USD.

This scenario will be invalidated if the price drops sharply below the 20-day EMA, leading to the possibility of falling to the 50-day SMA at 834 USD.

Technical Analysis of SOL

Solana (SOL) has reached 242.03 USD after breaking through resistance at 218 USD and is aiming for the 260 USD mark.

Daily chart of SOL/USDT | Source: TradingViewThe bears are likely to exert strong pressure in the resistance zone of 240 – 260 USD. If the price reverses from this zone, the bulls will try to halt the decline at the 20-day EMA of (209 USD). If successful, the outlook for breaking above 260 USD becomes higher. At that point, the SOL/USDT pair could climb to 295 USD.

The first sign of weakening will appear if the closing price falls below the 20-day EMA, indicating profit-taking pressure from short-term traders. The price of Solana may then drop to the upward trend line.

Technical Analysis of DOGE

Dogecoin (DOGE) is trying to hold above the resistance level of 0.26 USD, indicating the strength of the bulls.

Daily DOGE/USDT chart | Source: TradingViewIf successful, the DOGE/USDT pair could rise to the resistance area of 0.29 USD – a key level that the bears must protect. If broken, Dogecoin could open up a new upward trend to 0.44 USD.

On the contrary, if the price suddenly drops sharply from 0.29 USD, the sideways scenario in the range of 0.29 – 0.14 USD may continue for a few more days.

Technical Analysis of ADA

Cardano (ADA) closed above the downtrend line of the descending channel pattern on Wednesday, but the bears are unlikely to give up easily.

Daily ADA/USDT Chart | Source: TradingViewSellers will try to pull the price back below the moving averages. If they succeed, many optimistic traders may get trapped, pulling the ADA/USDT pair down to the support line.

Conversely, if the price of Cardano bounces back from the 20-day EMA at ($0.85), this indicates that the bulls are in control of the market. Buyers will attempt to push this pair up to $0.96 and then to $1.02, where the bears are expected to emerge.

Technical Analysis of LINK

Chainlink (LINK) broke through the resistance level of $24 on Thursday, indicating that the bulls are attempting a recovery.

LINK/USDT daily chart | Source: TradingViewThe 20-day EMA line ($23,36) is an important support level to watch as the price declines. If buyers maintain the price above the 20-day EMA line, the LINK/USDT pair may rise to the resistance zone of $26–$28 above.

Conversely, breaking and closing below the 20-day EMA indicates that demand at high price levels is weakening. The price of Chainlink may drop to the 50-day SMA at ($21,84) and then to the rising trend line.

HYPE Technical Analysis

Hyperliquid (HYPE) continues to rise after breaking through the resistance level of $49.88, indicating sustained demand from the bulls.

HYPE/USDT daily chart | Source: TradingViewThe surge has pushed the RSI into overbought territory, increasing the risk of a pullback to the breakout level of $49.88. If the price bounces back strongly from the $49.88 level, it indicates that the bulls are still in control. The HYPE/USDT pair may attempt to rise to the model target of $64.25.

However, the sellers may have other plans. They will try to push the price below the 50-day SMA of ($44,68), indicating a short-term peak.

Technical Analysis of SUI

Sui (SUI) is approaching a downward trend line, where bears are expected to deploy strong resistance.

Daily chart of SUI/USDT | Source: TradingViewIf the SUI price drops to this trendline but bounces back from the 20-day EMA ($3.48, this will be a signal indicating that market sentiment remains positive, while also opening up opportunities to break through the downtrend line. In this scenario, the bearish setup will be invalidated and the SUI/USDT pair could aim towards $4.18.

On the contrary, the bears need to pull the price below the 20-day EMA to keep the currency pair within the descending triangle. If they succeed and push the price below $3.11, the bears will regain complete dominance.

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