Key points:
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Bitcoin attempted a recovery on Monday, but renewed selling pressure threatened to push the price down to $84,000.
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Several altcoins were attempting to hold above their support levels, but the rebound lacked strength.
Bitcoin (BTC) attempted a rally on Monday, but the bears continued to exert pressure. Trader CrypNuevo said in a thread on
On a related note, analyst Aksel Kibar said that BTC may begin a directional move soon, following the “extremely low volatility pattern.” On the upside, Kibar expects a move to $100,000 if the $94,600 level is removed, and on the downside, he expects BTC to bottom out between $73,700 and $76,500.
Analysts are keeping an eye on the Bank of Japan (BoJ), which is expected to raise interest rates on Friday. Previous BoJ rate hikes since 2024 have caused BTC to fall by more than 20%, according to data shared by AndrewBTC.
Could BTC and major altcoins begin a relief rally, or will the bears drive the price lower? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index Price Prediction
The S&P 500 Index (SPX) declined from resistance at 6,920 on Friday, indicating that bears are aggressively defending the level.
If the price breaks below the moving averages, it suggests that the index could hover between 6,550 and 6,920 for a few more days. A close below 6,550 will form a double top pattern, opening the door for a fall towards the 6,180 pattern target.
Conversely, if the price breaks above the moving averages and goes above 6,920, it signals the resumption of the uptrend. The index could then jump towards the target target at 7,290.
US Dollar Index Price Prediction
The US Dollar Index (DXY) attempted to break above the 20-day exponential moving average (EMA) (99.04) on Tuesday, but the bears held firm.
The moving averages have made a bearish crossover and the Relative Strength Index (RSI) is in the negative zone, suggesting that the bears retain the advantage in the near term. There is minor support at the 98 level, but if sellers pull the price below, the index could fall to 97.20 and then to 96.21.
The first sign of strength will be a breakout and close above the 20-day EMA. Buyers will be back in control upon a close above resistance at 100.54.
Bitcoin Price Prediction
BTC bounced off the uptrend line on Monday, but the bulls were unable to clear the 20-day EMA ($90,720) hurdle.
The 20-day EMA has started to decline and the RSI is in negative territory, indicating an advantage for the bears. If the price closes below the uptrend line, the BTC/USDT pair could fall to $84,000 and possibly to the November 21 low of $80,600.
Instead, if the price rises sharply and closes above the 20-day EMA, it indicates buying at lower levels. The pair could then bounce up to the 50-day simple moving average (SMA) ($95,985). Sellers should defend the area between the 50-day SMA and $100,000, as a break above suggests that the corrective phase is over.
Ether Price Prediction
Buyers pushed Ether (ETH) above the 20-day EMA ($3,106) on Monday, but the long wick on the candlestick shows selling at higher levels.
The bears will work to push the price of Ether below the $2,907 level. If they succeed, the ETH/USDT pair could move down to the $2,716-$2,623 support zone.
This negative view will be invalidated in the short term if the price recovers from the current level and exceeds the breakout level of $3,350. This suggests that the pair may have bottomed in the near term. The pair could rally to $3,658 and then to $3,918.
BNB Price Prediction
BNB’s (BNB) narrow trading range has resolved to the downside, signaling a slight advantage for the bears.
Sellers will attempt to push the price back to the $791 level, which is a key support to watch. If the level gives way, the BNB/USDT pair will resume its downtrend towards the next support at $730.
Alternatively, if BNB price rebounds strongly from the $791 support and breaks above the 20-day EMA ($888), this suggests that the pair could form a range. The price could range between $791 and $1,020 for a few days.
XRP Price Prediction
XRP (XRP) remains stuck below the 20-day EMA ($2.06), indicating a lack of aggressive buying from the bulls.
The bears will attempt to push the XRP price down to the support line of the descending channel pattern and then to the $1.61 level. Buyers should defend the $1.61 level with all their might, as a break below could send the XRP/USDT pair tumbling to the October 10 low of $1.25.
Bulls will need to push the price above the 50-day SMA ($2.21) to signal strength. The pair could then bounce towards the downtrend line, where the bears should mount a strong defense.
Solana Price Prediction
Solana (SOL) has formed a symmetrical triangle, indicating uncertainty between buyers and sellers.
If the price declines and crosses below the triangle support line, it indicates that the bears have gained the upper hand over the bulls. The SOL/USDT pair could then plunge towards strong support at $95.
Conversely, a breakout and close above the triangle resistance line suggests the bulls are attempting a comeback. The price of Solana could then rise to $172, then to $189.
Related: Strategy Adds Nearly $1 Billion in Bitcoin as Market Crisis Puts Pressure on MSTR Stock
Dogecoin Price Prediction
Sellers are attempting to strengthen their position by pulling Dogecoin (DOGE) below the $0.13 support.
If they succeed, the price of Dogecoin could resume its downward trend. The DOGE/USDT pair could then plunge towards the October 10 low of $0.10, which is likely to attract strong buying from the bulls.
Bulls will need to push Dogecoin price above the 20-day EMA ($0.14) to signal strength. If they succeed, the pair could rebound towards $0.19. This suggests that the break below $0.14 may have been a bear trap.
Cardano Price Prediction
Cardano (ADA) continues to slide towards the $0.37 level, which is key support to watch in the near term.
If the bears pull Cardano price below the $0.37 level, it signals the start of the next leg of the downward move. The ADA/USDT pair could then fall to the October 10 low of $0.27.
On the contrary, if the price rises and breaks above the 20-day EMA ($0.42), it suggests that the pair could consolidate between $0.37 and $0.50 for some time. Buyers will need to push the pair above the $0.50 level to signal a potential change in trend.
Bitcoin Cash Price Prediction
Bitcoin Cash (BCH) fell below the 20-day EMA ($560), indicating that the bulls are losing their grip.
The next downside support is the 50-day SMA ($534), then $508. Such a move suggests that the Bitcoin Cash price could hover between $443 and $615 for some time to come.
Buyers will need to maintain the price above the $615 level to signal the resumption of upside. The BCH/USDT pair could then challenge the crucial resistance at $651.
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