{"id":23761,"date":"2022-09-13T10:05:39","date_gmt":"2022-09-13T04:35:39","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=23761"},"modified":"2022-09-19T18:21:21","modified_gmt":"2022-09-19T12:51:21","slug":"market-update-september-13-2022","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/crypto\/market-update-september-13-2022\/","title":{"rendered":"Crypto market update: 13 September 2022"},"content":{"rendered":"

It\u2019s been a mixed session for the crypto market yesterday due to price action among the top 10 cryptos. Bitcoin (BTC) and Solana (SOL) continued to be in a breakout mode, while Ether (ETH) struggled to move higher and witnessed a slight pullback.<\/p>\n

With the Ethereum Merge exactly two days away, we may see ETH and BTC record huge volume-based trades, which can move the market significantly. The market dominance levels of both BTC and ETH have moved a bit higher over the last three to four trading sessions and are currently over 41% and 20%, respectively.<\/p>\n

The Fear and Greed Index is showcasing improved investor sentiment as it has jumped by 9 points during yesterday\u2019s session, closing at 34\/100.<\/p>\n

Support comes from Nasdaq, which rose by 1.27% yesterday. However, it could be a difficult day ahead for traders as the US inflation report is going to be released. Any uptick in inflation can roil the market mood.<\/p>\n

Key coins<\/strong><\/p>\n

\"\"
Source: Tradingview<\/figcaption><\/figure>\n

On the daily chart (shown above), BTC is showcasing strength in momentum. The break above the 50-day Exponential Moving Average (EMA) has been a positive development and is now providing strong support. However, BTC needs to break another resistance level, at $23,200, to confirm a trend reversal.<\/p>\n

The market is expected to demonstrate volatility in the next few sessions, and a break below the 50-day EMA could send the price below $21K.<\/p>\n

\"\"
Source: Tradingview<\/figcaption><\/figure>\n

In the 4-hour chart above, we can see that ETH, struggling to break above the $1,780 level, has pulled back. The 50-EMA slope is providing strong support, but it needs to cross the $1,720 mark once again to reverse the trend and start moving higher.<\/p>\n

Since the Merge is so close, ETH price action will be news driven. Therefore, it\u2019s best to stay cautious.<\/p>\n

Top 5 gainers in the last 24 hours<\/b><\/p>\n

    \n
  • Golem (GLM): 18.93%<\/span><\/li>\n
  • AirSwap (AST): 12.26%<\/span><\/li>\n
  • Status (SNT): 10.84%<\/span><\/li>\n
  • Solana (SOL): 8.13%<\/span><\/li>\n
  • ThetaFuel (TFUEL): 6.60%<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    It\u2019s been a mixed session for the crypto market yesterday due to price action among the top 10 cryptos. Bitcoin (BTC) and Solana (SOL) continued to be in a breakout mode, while Ether (ETH) struggled to move higher and witnessed a slight pullback. With the Ethereum Merge exactly two days away, we may see ETH […]<\/p>\n","protected":false},"author":67,"featured_media":23762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[460,6552],"tags":[6467,6602,6536],"class_list":["post-23761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-market-update","tag-crypto","tag-market-update","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-07-22T13:28:55+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Deepan Datta\",\"description\":\"A keen observer of the crypto market and believes crypto\/blockchain will bring the next phase of the industrial revolution and build an inclusive society.\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/deepan\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ea29018d03e4615947c5df3ce7b4030b?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"Beginner","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/23761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=23761"}],"version-history":[{"count":4,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/23761\/revisions"}],"predecessor-version":[{"id":24402,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/23761\/revisions\/24402"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/23762"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=23761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=23761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=23761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}