Positive sentiment despite a bullish Fed?

Fundamental data

With the renewed uptrend in the crypto market the bullish sentiment might further support prices. Some hodlers continue to support the idea that it is better to buy and hold Bitcoin instead of trading this market. The reason behind this approach is that the market’s biggest returns usually occur during a fraction of a calendar year. For Ethereum the current rise in prices might continue to support the bull- market case similarly to Solana as we examine below. In general, the upside of most tokens continues to look solid as the month of August ended trading near respective high points.

With the month of September rather being volatile as the equity market is concerned, also the crypto market might take a break for now before moving higher. With a rate hike in the United States on the cards this month, also a stronger dollar might cause some setbacks for the crypto market.

Technical analysis:

– BTC: Bitcoin is trading at 79,820 USD. The month of August ended near the highs for the month and might hence support fresh upside momentum moving forward. Since Bitcoin also broke above the 50- moving average zone based on the weekly chart below the positive sentiment might continue to push prices higher.

BTCUSD, weekly chart

If equity markets remain solid the positive trend might also continue over the course of this month. Traders should now also focus on the technical support level of 78,000 USD. A break below might point to a correction of Bitcoin. This level has acted as a support zone also in April 2025 and might hence remain important.

– ETH: Ethereum is currently trading at 2,506 USD. Based on the monthly chart the recent performance has been extremely positive. The price of Ethereum was able to move back above the rising trendline at the psychological level of 2,000 USD. Furthermore, the market is now also testing the 50- moving average level at 2,554 USD. 

ETHUSD, monthly chart

In the past after such a strong push higher, the months afterwards usually also helped prices to rise further. In this case traders should now focus on the current price developments, whereas a volatile month of September might also be on the cards without much direction in the end. Afterall, A doji candlestick towards the end of September might also be the result before prices will continue to rise. Especially a correction in the equity market might lead the way, here. 

– XRP: XRP is currently trading at 1.4152 USD. Ripple is also trading within a tight range and might break away from that level soon. After the push higher mid of September the upside in XRP has been ignited again. The breakout from the current zone might then determine the next move.

XRPUSD, daily chart

While a push to the downside seems unlikely for now, traders should expect prices to fall back if the market will trade below 1.3400 USD. The upside, on the other hand, might get more traction above the 1.5000 USD price level. In this case the target of 2.0000 USD might be reached at some point again. 

– SOL: Solana is currently trading at USD 104.97. With the push back above the psychological 100.00 USD level more upside might now be on the cards. Among the tokens observed here, Solana looks indeed most suitable to rise further.

SOLUSD, monthly chart

If Solana will now be able to rise above the 50- moving average at 113.50 USD the positive trend might continue to stabilize further. Downside momentum might only come into play, if the price crosses the 70.00 USD level to the downside.