Price Analysis 9/30: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT

Equity markets have extended their decline, but Bitcoin and some altcoins haven't given much ground, leading some traders to believe that the background is in .

Price analysis

US equity markets have been heavily bearish for much of the year. The S&P 500 and Nasdaq Composite have fallen for three consecutive quarters, the first since 2009. There was no respite in selling in September and the Dow Jones Industrial Average is on track to record its worst month of September since 2002. These numbers describe the kind of carnage that exists in the stock market.

Compared to these disappointing numbers, Bitcoin (BTC) and some altcoins did not give up much ground in September. This is the first sign that selling may be drying up at lower levels and that long-term investors may have started fishing at the bottom.

Daily performance of the cryptocurrency market. Source: Coin360

In the last quarter of the year, investors will continue to focus on inflation data. Any sign of inflation plateauing could lead to a strong rally in risk assets, but if inflation remains stubbornly high, a round of selling could follow.

Let's study the charts of the S&P 500 Index, US Dollar Index (DXY), and major cryptocurrencies to determine if a rally is in sight.

SPX

The S&P 500 Index (SPX) has come under intense selling pressure in recent days, but the bulls have held firm. This indicates that the bulls are buying the dips near $3,636.

SPX Daily Chart. Source: TradingView

First upside resistance is $3,737. If the bulls pushed...