Bitcoin experienced selling pressure near the $64,000 mark, but buyers have successfully maintained the price above the short-term holder realized price of around $62,000, signaling positive momentum.
On September 20, Bitcoin reached the $64,000 level, but the bulls struggled to hold these gains, indicating that bears continue to sell at higher resistance levels.
CryptoQuant analyst Avocado_onchain pointed out that the short-term holder (STH) realized price — the average purchase price of short-term investors who’ve held their coins for less than 155 days — sits near $62,000. This STH price is a key support level during upward trends. If buyers can hold this level, Bitcoin may see further gains.
A further positive for the bulls is the reduction in institutional investors' Bitcoin short positions, as noted by CryptoQuant founder Ki Young Ju. Additionally, Bitcoin spot ETFs saw inflows of $158 million on September 19, according to Farside Investors.
Could Bitcoin push past the $65,000 resistance level? And will altcoins follow suit? Let’s examine the charts of the top three cryptocurrencies to explore the possibilities.
$BTC Price Analysis
Bitcoin broke out of its symmetrical triangle pattern on September 18, suggesting that the bulls have gained the upper hand against the bears.
$ETH Price Analysis
The bears were unable to push Ethereum (ETH) below $2,538 and the uptrend line, showing that selling pressure weakens at lower levels. On September 19, bulls pushed ETH above the 20-day EMA ($2,424), followed by a move above the 50-day SMA ($2,527) on September 20. This sets the stage for a potential rally to the $2,850 level, where sellers could step in.
If buyers manage to push ETH beyond $2,850, it would indicate a rejection of the lower price levels, opening the possibility of a rally to $3,400. However, a reversal and break below the 20-day EMA would suggest that bears are still in control, potentially driving the price down to the uptrend line.
$BNB Price Analysis
BNB bounced off its moving averages on September 17, showing that sentiment remains positive as traders continue to buy during price dips.
The BNB/USDT pair may rise to the $600–$635 resistance zone, where bears are expected to put up strong resistance. If bulls manage to break through, BNB could start a fresh rally, aiming for $722.
On the flip side, if the price reverses from the resistance zone and drops below the 20-day EMA ($542), it would signal that bears have not given up, extending BNB's consolidation within its current range for a longer period.
