Price analysis 10/14: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, MATIC

cointelegraph.com:

The United States Consumer Price Index (CPI) increased 8.2% annually in September, beating economists’ expectations of an 8.1% rise. The CPI print lived up to its hype and caused a sharp, but short-term increase in volatile risk assets. 

The S&P 500 oscillated inside its widest trading range since 2020 and Bitcoin (BTC) also witnessed a large intraday range of more than $1,323 on Oct. 13. However, Bitcoin still could not shake out of the $18,125 to $20,500 range in which it has been for the past several days.

Both the U.S. equities markets and Bitcoin tried to extend their recovery on Oct. 14 but the higher levels attracted selling, indicating that the bears have not yet given up.

Could the increased volatility culminate with a breakout to the upside or will it start the next leg of the downtrend?

Let’s study the charts of the S&P 500 index, the U.S. dollar index (DXY) and the major cryptocurrencies to find out.

The S&P 500 index (SPX) gapped down on Oct. 13 and dropped to $3,491 but lower levels attracted huge buying by the bulls. That may have caught several aggressive bears on the wrong paw and they might have scrambled to cover their short positions. That propelled the index back above the breakdown level of $3,636.

Buyers tried to extend the recovery on Oct. 14, but the bears had other plans. The sellers vigorously defended the 20-day exponential moving average (EMA) ($3,715), indicating that the sentiment remains negative and relief rallies are being sold into.

The bears will try to sink the index to $3,491, which is an important level to keep an eye on. If this support cracks, the index could dive to $3,325.

Alternatively, if the index rebounds off the support zone between $3,636 and $3,491, it will suggest that bulls