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Cryptocurrencies are registering an uptick as the market reacts to the Federal Reserve’s interest rate cut on September 18.
After topping $61.2k on Tuesday, $BTC slipped back under $60k as market jitters resumed.
However, with the Fed’s 50 basis point interest rate decision, Bitcoin is back above $61k.
While not explosive, it’s possible many of the altcoins that have bled in recent weeks could tap upside momentum to see new highs.
Here’s the price analysis for Binance’s $BNB as well as Bitcoin Cash, Aptos, and Basic Attention Token.
$BNB price: bulls need a break above $600
$BNB ($BNB) price currently hovers near $540, down 1.5% in the past 24 hours and a downtrend since flipping the area around $600 from support to resistance.
The cryptocurrency has broken to support under $500 on two occasions since July 22, with the downtrend strengthening amid a series of lows highs and lower lows.
While overall market conditions and $BNB’s ecosystem growth may help bulls push higher, they must break and reclaim $600 to eye continuation to the all-time high above $700.
Support levels in case of a breakdown will be in the region of $480 to $460.
Both the daily RSI and MACD indicators suggest bulls are poised for control. $BNB also remains above the 20-day exponential moving average.
Bitcoin Cash price: can $BCH bulls bounce?
The price of Bitcoin Cash soared to above $695 after its halving in April 2024, with this coming after $BTC had also skyrocketed to its ATH amid the halving sentiment.
$BCH has however traded lower since, with a sharp decline after an attempt to break above $455 failed in late July.
Bitcoin Cash has bounced from a weekly low of $308 as bulls seek gains above $315.
If an upside materializes, $BCH/USD could eye a breakout to $450 and likely $600.
On the downside though, a breakdown may open the altcoin up for a bearish retest of $294 and support below $250.
Aptos ($APT): will it touch $10?
The latest news around Aptos ($APT) price relates to the blockchain platform teaming up with Ripple and Hedera to launch the MiCA Crypto Alliance.
Token2049 in Singapore is also a key highlight of the week, which is likely to have aided bulls’ bounce from $5.70 in the past 24 hours.
However, buyers face a potential supply wall near $6.30, with the daily RSI and MACD indicators suggesting bears may have an upper hand.
If $APT price jumps above the major resistance area, it’s likely to retest bear resolve in the $8-10 zone.
On the downside, $4.00 could provide the primary support area. Currently, $APT/USD trades around $5.91, nearly 5% down in the past week.
The post $BNB, Bitcoin Cash, Aptos price analysis as Fed cuts interest rates appeared first on Invezz
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