Welcome to our latest crypto market outlook for September 25th!
Ready for a fresh market update? Here are the five altcoins we’ve selected for this week: AR, ALT, RENDER, HBAR, and NKN.
Today, we will cover the following topics:
- USDT.D and BTC Analysis
- 5 Altcoins Analysis
- Quotes / Advices
- Closing Remarks
USDT.D and BTC analysis
USDT.D is still approaching a massive support zone around 5%.
This week, USDT.D has been approaching the lower boundary of the wedge, leading us to expect a potential reversal soon.
On the 4H chart, USDT.D has been losing strength, forming a falling channel.
The bears will remain dominant unless the previous high of 5.64% is broken to the upside.
BTC continues to hover around the previous major high and the key round number of $65,000, as highlighted in our last market outlook.
If $65,000 is broken to the upside, a move toward the upper boundary of the orange channel is likely. However, BTC could still retest the $60,000 level in the meantime.
As BTC approaches the lower boundary of the rising channel, we will be looking for trend-following buy setups.
In the meantime, we expect BTC to remain choppy as long as it trades within the channel and near the $65,000 resistance level.
5 Altcoins Analysis
Let's begin with AR. It has finally broken above its descending wedge pattern, shifting the momentum back to bullish.
For bullish pressure to persist in the long term, a break above the $27.5 structure is necessary.
On the 4H timeframe, the bulls are already in control in the medium term, trading within the rising broadening wedge highlighted in blue.
As AR retests the lower boundary of the wedge and the previous major high, we expect the bulls to gain momentum in the short term once again.
After rejecting the $0.05 round number, which was near the all-time low, ALT has turned bullish.
With the major high at $0.1 broken to the upside, as long as this support holds, we expect further bullish momentum toward the $0.2 mark.
As mentioned in our previous Altcoins article, RENDER rebounded from the $5 round number and has been bullish since.
This week, it has been approaching the upper boundary of the orange falling channel and the previous major high at $6.55.
For long-term bullish control, a break above $6.55 is needed. If that happens, a move toward the $10 round number becomes highly probable.
Analyzing HBAR, one of the oldest and favorite altcoins, even though it has been declining recently.
Lately, it has been rejecting the $0.05 level effectively, so it's likely that bullish pressure will emerge soon.
This week, HBAR is retesting a critical make-or-break zone. For buyers to step in, a break above the $0.063 major high is required.
Meanwhile, as it retests the $0.05 round number, we will be watching for short-term long opportunities.
Last but not least, let's cover NKN. From a weekly perspective, it has been ranging between $0.045 and $0.13.
This month, NKN rejected the lower boundary of this range and has been pushing higher.
On the daily timeframe, NKN has been forming a giant inverse head and shoulders pattern.
For the pattern to be activated and push toward the $0.13 resistance, a break above the neckline at $0.0885 is required.
Quotes / Advices
The trend is your friend until the end, when it bends.
~ Ed Seykota
Closing Remarks
In summary, AR shows bullish momentum with key levels to watch for continued growth.
ALT turned bullish after rejecting a significant low, with further gains expected if support holds.
RENDER continues its upward trend but requires a break above $6.55 for long-term bullish control.
HBAR is at a make-or-break zone, with potential bullish setups as it retests key support levels.
Lastly, NKN is forming an inverse head and shoulders pattern, with a breakout above $0.0885 signaling a potential move toward $0.13.
Be sure to explore our previous altcoins analysis.
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