{"id":24681,"date":"2022-09-21T10:09:18","date_gmt":"2022-09-21T04:39:18","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=24681"},"modified":"2022-09-21T10:09:18","modified_gmt":"2022-09-21T04:39:18","slug":"market-update-september-21-2022","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/market-update-september-21-2022\/","title":{"rendered":"Crypto market update: 21 September 2022"},"content":{"rendered":"<p>Yesterday saw a mixed session for the crypto market. Bitcoin (BTC), Ether (ETH), and other top coins traded flat. One of the few exceptions was Ripple (XRP), which has crossed 8% at its highest yesterday.<\/p>\n<p>Today will be a crucial day for the market with the upcoming Fed policy decision and Federal Open Market Committee (FOMC) projection. A rate hike of 75 bps will be not surprising, but any more than that will impact the market sentiment negatively. Nasdaq-100 also failed to deliver support to the crypto market and it ended the day lower by 0.95%.<\/p>\n<p>In its attempt to tame inflation, Sweden\u2019s central bank also went for an unexpected full percentage point rate hike, the highest in three decades. This too dragged investor confidence downward.<\/p>\n<p>The Crypto Fear and Greed Index is currently at the 23\/100 level. It indicates extreme fear in the market.<\/p>\n<p><strong>Key coins<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-24684\" src=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-21_08-28-16-1024x675.png\" alt=\"\" width=\"800\" height=\"527\" srcset=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-21_08-28-16-1024x675.png 1024w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-21_08-28-16-300x198.png 300w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-21_08-28-16-768x506.png 768w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-21_08-28-16-1536x1013.png 1536w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-21_08-28-16-2048x1350.png 2048w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p>Bitcoin\u2019s 4-hourly chart (shown below) reveals that the $19,600 level has turned into a strong resistance level. BTC needs strength in momentum to break above it. If BTC breaks below its recently tested support at $18,700, it could hammer down investor sentiment.<\/p>\n<p>Also, the Relative Strength Index (RSI) is indicating a weak sentiment in the market.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-24686\" src=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/ETHUSD_2022-09-21_08-34-52-1024x621.png\" alt=\"\" width=\"800\" height=\"485\" srcset=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/ETHUSD_2022-09-21_08-34-52-1024x621.png 1024w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/ETHUSD_2022-09-21_08-34-52-300x182.png 300w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/ETHUSD_2022-09-21_08-34-52-768x466.png 768w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/ETHUSD_2022-09-21_08-34-52-1536x932.png 1536w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/ETHUSD_2022-09-21_08-34-52-2048x1243.png 2048w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p>The 4-hourly chart for ETH (shown below) indicates that the $1,325 level is offering some support but it is not very strong because it has not been tested multiple times, as it should have been. A break below this level could drive the ETH price much lower, toward the $1,250 level. To reverse the short-term bearish trend, ETH will need to break above $1,380 with some solid momentum.<\/p>\n<p>The fundamentals of the coin remain strong, but weak global macros are pulling the price down.<\/p>\n<p><b>Top 5 gainers in the last 24 hours<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">QuarkChain (QKC): +23.36%<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Ripple (XRP): +7.86%<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">EOS (EOS): +5.55%<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Status (SNT): +4.16%<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Stellar (XLM): +3.48%<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday saw a mixed session for the crypto market. Bitcoin (BTC), Ether (ETH), and other top coins traded flat. One of the few exceptions was Ripple (XRP), which has crossed 8% at its highest yesterday. Today will be a crucial day for the market with the upcoming Fed policy decision and Federal Open Market Committee [&hellip;]<\/p>\n","protected":false},"author":67,"featured_media":24682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6602],"class_list":["post-24681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-market-update"],"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\":\"2022-09-19T19:04:28+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":"","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\/24681","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=24681"}],"version-history":[{"count":2,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/24681\/revisions"}],"predecessor-version":[{"id":24690,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/24681\/revisions\/24690"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/24682"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=24681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=24681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=24681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}