Price analysis 9/5: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

cointelegraph.com:

The cryptocurrency markets have been quiet over the weekend. The sideways price action continues on Sept. 5 and there are unlikely to be any fresh triggers from the United States equities markets, which are closed for Labor Day.

However, the bullish picture for cryptocurrencies looks clouded as the energy crisis in Europe sent the euro to a two-decade low versus the U.S. dollar. Meanwhile, the U.S. dollar index (DXY) which has an inverse correlation with the equities markets and cryptocurrencies soared above 110 for the first time since June 2002.

A positive sign among all the mayhem is that Bitcoin (BTC) has not given up much ground over the past few days and continues to trade near the psychological level of $20,000. This suggests that traders are not panicking and dumping their positions in a hurry.

Could bulls push and sustain Bitcoin above $20,000 and will this trigger buying in altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin has been stuck inside a tight range between $19,520 and $20,576 for the past few days. This indicates indecision among the bulls and the bears. Although bulls are buying the dips, they have failed to clear the overhead resistance.

The downsloping 20-day exponential moving average (EMA) ($20,775) and the relative strength index (RSI) in the negative territory increase the likelihood of a break below $19,520. If that happens, the BTC/USDT pair could drop to the strong support zone between $18,910 and $18,626.

Buyers are expected to defend this zone with all their might. If the rebound breaks above the 20-day EMA, the pair could rise to the 50-day simple moving average (SMA) ($22,253). The bulls will have to clear this hurdle to open the doors for a possible rally to