BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7

Bitcoin

(BTC) has moved above the resistance area at $51,200.

Ethereum (ETH) and XRP

(XRP) are in wave five of their bullish impulses.

Monero

(XMR) is following an ascending support line. Sponsored

Serum (SRM) has been rejected by the $9.90 resistance area.

Cardano

(ADA) is falling towards the $2.45 horizontal support area.

Solana (SOL) reached a new all-time high on September 7.

BTC

After being rejected by the 0.618 Fib retracement resistance level on August 23, BTC formed a falling star candle and fell again.

On September 5, BTC finally managed to break out and peaked at $52,920 two days later. Technical indicators provide several bullish signals. The bearish divergence trendline on the RSI has been broken and the MACD

has generated further higher momentum bars.

The next nearest resistance is at the $57,250 level. This target is a resistance level at 0.786 Fib retracement and a horizontal resistance area.

BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7BTC chart via Tradingview

ETH

ETH has been moving upwards since June 22 and formed a higher low on July 20

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After initially struggling to get above the resistance area at $3200, ETH has initiated another upward move and has so far reached a local peak at $4027.

The wave count indicates that ETH is in wave five of a bullish impulse.

The most likely target for the top of the upward movement is the range between $4160 and $4264. This range consists of a resistance level at the outer 1.61 Fib retracement (black) and 0.618 wave length 1-3 (orange).

BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7 ETH chart via Tradingview

XRP

Like ETH, XRP has been rising since June 22 and formed a higher low on July 20

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After breaking out of the resistance area at $1.05, price came back and confirmed this level as support on 16 si

erpnia.

Then, XRP broke out of a symmetrical triangle on September 1.

The wave count suggests that XRP is in wave five of a bullish impulse. The most likely target for the top of the upward movement is the range between $1.53 and $1.57. We find this range using the outer 1.16 Fib retracement of wave four and 0.618 wave lengths 1-3.

BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7XRPchart courtesy of Tradingview

XMR

Since July 20, XMR has been following an ascending support line. On August 20, it managed to break above the horizontal resistance area at $277 and on August 31, it came back to confirm this area as support.

As long as the rising support line remains intact, the bullish pattern is still valid. While both RSI and MACD are showing signs of weakness, the former is still above 50 and the latter is positive.

The nearest resistance area is at the $390 level.

BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7 XMR chart via Tradingview

SRM

SRM has been rising along an ascending support line since July 20. On August 31, the altcoin

attempted to break out above the $9.90 resistance area but was rejected by it, forming a long upper wick (red icon).

It is currently in the process of making another breakout attempt, but has generated another long upper wick.

Whether it breaks above this resistance or is rejected will be important in determining the direction of the future trend.

Given the current rejection, it is possible that SRM will retest the support line before a final move up.

BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7 SRM chart courtesy of Tradingview

ADA Since July 20, ADA has been moving upward. It broke through the resistance area at $2.45 on August 22 and reached a new all-time high of $3.10 on September 2.

However, the stock fell sharply after both RSI and MACD generated bearish divergences. It is currently approaching the $2.45 area again.

ADA appears to be in a long-term wave five, so it may soon peak if it hasn’t already. If another upward move occurs, the most likely target for a top would be the area between $3.38 and $3.51.

<img alt=” src=”image/svg+xml;base64,PHN2ZyBoZWlnaHQ9JzgyNycgd2lkdGg9JzE4MTMnIHhtbG5zPSdodHRwOi8vd3d3LnczLm9yZy8yMDAwL3N2ZycgdmVyc2lvbj0nMS4xJy8+” />BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7ADA chart by Tradingview

SOL

SOL has been rising sharply since July 20. It reached a new all-time high of $195.48 on September 7.

Since the upward move began, SOL was briefly rejected by multiple external Fib retracement levels (red icons). Today it reached the outer 4.61 Fib level, which often acts as the top of an upward move.

BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7BTC, ETH, XRP, XMR, SRM, ADA, SOL - technical analysis for September 7 SOLchart courtesy of Tradingview

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