The cryptocurrency market is bracing for “Red September” as market sentiment plummets into the “fear” zone, historically marking a tough month for Bitcoin, which typically drops an average of 3.77%.

The Federal Reserve’s September meeting adds complexity as markets expect a potential rate cut, with traditional markets showing mixed signals in anticipation.

Bitcoin shows resilience with a modest gain, but indicators like ADX and RSI suggest a lack of clear trend and potential oversold conditions in the market.

Ethereum underperforms with a decline, despite bullish indicators like ADX. Traders anticipate a move towards $5,000 by year-end, with key levels to watch for support and resistance.

XRP shows relative weakness with a decline, lacking a clear directional bias according to ADX. Traders anticipate a potential bearish breakout with key support and resistance levels to monitor.

Myriad traders predict further downside for XRP, placing odds on a drop to $2.50 over reaching $4 per coin, highlighting key levels for support and resistance.

Read more at Yahoo Finance: Bitcoin, Ethereum and XRP Hold Steady as ‘Red September’ Kicks Off