Bitcoin Bounces as Crypto Market Turns Green: Where Do Prices Go Next?

After a bruise week that tested Crypto’s resilience, digital assets rebounded to a total market capitalization of $3.91 trillion, reaching 3.29% over the past 24 hours. 95% of the top 100 cryptocurrencies in a broad recovery have announced profits, and Bitcoin is breathing again amid renewed interest in institutions and macroeconomic favors.

The recovery in the crypto market is perfectly consistent with traditional markets finding a foothold. The S&P 500 rose 0.5% and extended this month’s rally, while the Nasdaq 100 rose almost 1%, driven by the interests of Nvidia, Applovin and Microsoft among other tech giants. Gold also lifts US Treasury holdings of precious metals past $1 trillion, recorded at around $3,826-3,854 per troy ounce. This indicates that safe demand remains strong even as risky assets recover.

However, the broader context remains complex, with the Federal Reserve cutting 25 basis points from 25 basis points at its September meeting. However, Federal Reserve Chairman Jerome Powell characterized tariff inflation as a “one-time” event, warning that “there is high uncertainty around the inflation pathway.”

Bitcoin (BTC) Price: A Bull that Protects Faith

Bitcoin made a measured recovery, winning 1.85% to open a day at $111,923 before closing at $113,985. The flagship cryptocurrency temporarily touched on $114,309, representing a 2.2% peak during the day before settling down just below its resistance level.

However, on the technical side, Bitcoin indicators paint a picture of integration rather than a conviction.

The relative strength index (RSI) of BTC is at 52, and is the dead center of the neutral region. This read tells traders that neither the Bulls nor the Bears have any decisive control. Think of RSI like a tug of war rope. At 50 it’s perfectly balanced. Measurements above 70 could potentially be exhausted (over-acquired), while under 30 suggests that the bear has gone too far (for sale). At 52, it shows the Bulls are struggling for control away from the bear, only a small amount, but sucking up coins from the territory of sales.

The mean directional index (ADX) measures trend intensity on a scale that means “no clear trend,” whereas 20-25 indicates that a trend has been formed, and if it exceeds 25, strong directional movement is confirmed. At 18 years old, Bitcoin is drifting in an essentially choppy market. This is why we don’t see a clear long-term bullish or bearish trend, and instead the coin has been bounced sideways for several weeks.

One bright spot comes from an exponential moving average or EMA. These averages give traders a sense of price support and resistance across short, medium and long frames.

At this time, Bitcoin’s 50-day EMA is trading beyond the 200-day EMA (shown as the green zone on the chart). This seems good for the Bulls as it demonstrates that the average price of Bitcoin in the short term is trading higher than the average price in the long term. However, it is important to be aware. The gap between these EMAs has been closed, reflecting the fact that Bitcoin prices have been slowly falling recently, potentially entering the formation of “death” in the future, unless something changes.

The “Crucifix of Death” in a transaction is when the EMA50 (average price for the past 50 days, or short-term movement) exceeds the EMA200 (average price for the past 200 days). Traders can read it as an increase in negative side risk, and look for a short setup, particularly if the price stays under both EMA and volume. It is essentially the opposite of a “golden cross” setup, and is generally considered a bearish sign when spoken by traders.

Myriad – Forecast Markets Built by DecryptionParent company Dastan – Traders have odds at 46%, where Bitcoin reaches $125,000 than $105,000. The market has been active since early July and provides a measure of the bitcoin-aggregated sentiment among these forecast market users.

Less than two weeks later, these odds were completely reversed, bringing the bettor to a 71% chance of reaching $125,000 on September 18th to BTC. It doesn’t seem to even bounce 5% to the price of Bitcoin enough to bully these predictors again.

Key level:

• Immediate Support: $108,000 (Recent Test Level)
• Immediate resistance: $114,309 (Today’s High)
• Strong resistance: $117,000 (weekly resistance zone)

Solana (Sol) Price: A quiet confidence builds

Solana’s more modest 0.30% profit may seem overwhelming compared to Bitcoin’s move compared to $211.58, but the technical setup suggests accumulation beneath the surface.

Over the past 24 hours, Solana has grown by 3.5%, performing best in the top 10 market capitalization.

After opening for $210.95, Sol merged the $211 mark after touching on $213.58 (1.2% spike 1.2%).

The RSI of 47 is slightly melted into bearish territory. After a violent swing in recent weeks, this intermediary RSI could be interpreted as a healthy consolidation by traders, especially considering it has risen now after last week’s severe dip. Solana tested the resistance of the short-term bear channel.

The 27 ADX, combined with price retention that surpasses both the 50-day and 200-day EMA, suggests that the Bulls remain in control despite today’s modest profits. When ADX exceeds 25, Day Traders often increase position sizes as trends tend to persist. The price is once again traded on the EMA50, which is a good sign for short-term bulls too.

Future SEC decisions on the Solana ETF application, which will begin deadlines next month, could serve as a catalyst, with Bloomberg analysts estimated a 90% chance of approval. The clarity of this regulation can unlock institutional flows, similar to those that Bitcoin experienced post-ETF approval.

Again, like Bitcoin predictions, Myriad users still don’t feel bullish. Countless forecasts bring the odds to just 40% of Solana’s hit at a new all-time high price, above $294 this year. This is a sharp drop from the 65% odds of the new Sol High over a week ago.

Key level:

• Immediate Support: $204.82 (Today’s Low)
• Strong support: $200.00 (psychological level)
• Immediate resistance: $213.58 (channel height)
• Strong resistance: $222.00 (0.5 Fibonacci level)