We are assisting at a very mixed picture across different asset classes – Equities are down after the long weekend, the US Dollar is up but correcting from its highs since the ISM Manufacturing PMI report, and Cryptocurrencies are sluggish, but showing signs of rebound.
After sending worrying signs throughout the past week of price action, with Bitcoin correcting for the whole past week and Ethereum marking a new record in a weak-looking price action, cryptos are finding a floor with traders bracing for the upcoming Non-Farm Payrolls.
Bitcoin has for example marked an intermediate low at around $107,000 at the extreme of its previous ATH support area and rebounding since, while Ethereum opens the week off its $4,200 lows.
Bitcoin holding above $100,000 still paints a broadly positive picture for cryptos, but markets are starting to be more careful at the recent highs. A huge boost to sentiment should be needed to push BTC to a renewed ATH but everything is possible.
However, Solana is still holding decent momentum.
In the preparation of this shortened week of compact action (volumes were down hard yesterday due to a prolonged Labor Day weekend), let’s have a look at intraday charts and levels for Bitcoin, Ethereum, XRP and Solana.
For reference, here is our previous Crypto market analysis.
