Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Price analysis 9/2: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

Published 09/02/2022, 02:46 PM
Updated 09/04/2022, 05:20 PM
Price analysis 9/2: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

Nonfarm payrolls rose by 315,000 jobs in August, down from the July increase of 526,000 jobs. The report was just below the Dow Jones estimate of 318,000 jobs and the slowest monthly gain since April 2021. The S&P 500 rose in response to the report, but later erased its gains, indicating that bears continue to sell on rallies.

That may be because the U.S. dollar index (DXY), which had retreated from its Sept.1 20-year high, recovered part of its losses. The bears will have to pull the DXY lower to boost the prices of stocks and thcryptocurrency markets as both are usually inversely correlated with the dollar index.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
MATIC/USDT daily chart. Source: TradingView
SHIB/USDT daily chart. Source: TradingView

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.