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Cryptocurrencies are registering an uptick as the market reacts to the Federal Reserve’s interest rate cut on September 18.

After topping $61.2k on Tuesday, BTC slipped back under $60k as market jitters resumed.

However, with the Fed’s 50 basis point interest rate decision, Bitcoin is back above $61k.

While not explosive, it’s possible many of the altcoins that have bled in recent weeks could tap upside momentum to see new highs.

Here’s the price analysis for Binance’s BNB as well as Bitcoin Cash, Aptos, and Basic Attention Token.

BNB (BNB) price currently hovers near $540, down 1.5% in the past 24 hours and a downtrend since flipping the area around $600 from support to resistance.

The cryptocurrency has broken to support under $500 on two occasions since July 22, with the downtrend strengthening amid a series of lows highs and lower lows.

While overall market conditions and BNB’s ecosystem growth may help bulls push higher, they must break and reclaim $600 to eye continuation to the all-time high above $700.

Support levels in case of a breakdown will be in the region of $480 to $460.

Both the daily RSI and MACD indicators suggest bulls are poised for control. BNB also remains above the 20-day exponential moving average.

The price of Bitcoin Cash soared to above $695 after its halving in April 2024, with this coming after BTC had also skyrocketed to its ATH amid the halving sentiment.

BCH has however traded lower since, with a sharp decline after an attempt to break above $455 failed in late July.

Bitcoin Cash has bounced from a weekly low of $308 as bulls seek gains above $315.

If an upside materializes, BCH/USD could eye a breakout to $450 and likely $600.

On the downside though, a breakdown may open the altcoin up for a bearish retest of $294 and support below $250.

The latest news around Aptos (APT) price relates to the blockchain platform teaming up with Ripple and Hedera to launch the MiCA Crypto Alliance.

Token2049 in Singapore is also a key highlight of the week, which is likely to have aided bulls’ bounce from $5.70 in the past 24 hours.

However, buyers face a potential supply wall near $6.30, with the daily RSI and MACD indicators suggesting bears may have an upper hand.

If APT price jumps above the major resistance area, it’s likely to retest bear resolve in the $8-10 zone.

On the downside, $4.00 could provide the primary support area. Currently, APT/USD trades around $5.91, nearly 5% down in the past week.

The post BNB, Bitcoin Cash, Aptos price analysis as Fed cuts interest rates appeared first on Invezz

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