Bitcoin (BTC) weakness extended through the weekly open as top stocks sold off in response to US President Donald Trump’s threat to impose a 15% global tariff after the Supreme Court ruled his IEEPA tariffs were illegal.
Market sentiment remains fragile as the Crypto Fear & Greed Index at 5 out of 100 remains in the “extreme fear” zone. Pseudonymous trader and investor BitcoinHyper said in an article on X that the index has been in the extreme fear zone for almost three weeks, the longest period since 2022.
Traders on prediction market Polymarket have increased the chances of BTC falling below $55,000 to 72%. Market forecasts match those of several analysts and financial institutions who expect a drop near or below $55,000.
Although a bottom may not have formed, BTC is expected to eventually recover and move higher. Economist Timothy Peterson said in an article on X that BTC has been positive 50% of the time over the past 24 months. Using a statistical model, Peterson estimated that there is an 88% chance that BTC “will be higher in 10 months.”
Could buyers defend support levels for BTC and major altcoins? 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) has been trading between 6,775 and 7,002 for several days, indicating a balance between supply and demand.
Flat moving averages and the Relative Strength Index (RSI) near the midpoint give neither bulls nor bears a clear advantage. Buyers will need to close above the resistance at 7,002 to signal the resumption of the uptrend. The index could then rise to the level of 7,290.
This bullish view will be invalidated in the short term if the price declines and goes below the 6775 level. The index could then fall to the strong support at the 6550 level.
US Dollar Index Price Prediction
The US Dollar Index (DXY) declined from the 50-day simple moving average (97.95) on Friday, indicating that bears are aggressively defending the level.
Sellers are attempting to push and hold the index below the 20-day exponential moving average (97.48). If they succeed, the index could slide towards the support zone of 96.21 to 95.55.
Buyers will likely have other plans. They will attempt to stop the pullback and push the price above the 50-day SMA. If they succeed, the index could jump towards the 99.50 level and then towards the resistance at 100.54.
Bitcoin Price Prediction
BTC fell below the $65,118 support on Monday, but bulls are trying to defend the closing level.
Any relief rally should see a sell-off at the 20-day EMA ($70,185). If Bitcoin price declines sharply from the 20-day EMA, it increases the likelihood of a decline to the vital support of $60,000. Buyers will have to defend the $60,000 level with all their might, as a break below could send the BTC/USDT pair tumbling to $52,500.
Buyers will need to propel the price above the 20-day EMA to signal demand at lower levels. The pair could then reach the $74,508 level, where the bears could once again pose a strong challenge.
Ether Price Prediction
Ether (ETH) fell below near support at $1,897 on Monday, opening the door to a retest of the $1,750 level.
Descending moving averages and the RSI near oversold territory increase the risk of a breakdown. If the $1,750 level is removed, the ETH/USDT pair could resume its downtrend towards the next support at $1,537.
Conversely, if the price of Ether rises sharply from $1,750, it suggests demand at lower levels. This could keep the pair in the $1,750-$2,111 range for some time to come. A close above $2,111 will be the first sign of strength, paving the way for a rally towards the 50-day SMA ($2,593).
XRP Price Prediction
XRP (XRP) has been trading between the descending channel pattern support line and the 20-day EMA ($1.47) for the past few days.
The downward sloping 20-day EMA and the RSI in negative territory indicate that the bears remain in control. If the support line cracks, the XRP/USDT pair could retest the February 6 low at $1.11. A breakout and close below the $1.11 level could extend the decline to psychological support at $1.
Buyers have a daunting task ahead of them. They will need to quickly propel the price of XRP above the downtrend line to signal a potential trend change.
BNB Price Prediction
BNB (BNB) fell below immediate support at $587 on Monday, but the long tail of the candlestick shows buying at lower levels.
The bulls will attempt to initiate a recovery, which is likely to be faced with a sell-off at the 20-day EMA ($651). If the price declines from the 20-day EMA, the bears will again strive to bring the BNB/USDT pair below the $570 level. If they succeed, BNB price could begin the next leg of the downtrend towards psychological support at $500.
Contrary to this assumption, if buyers break above the 20-day EMA, the pair could rally up to the $730 breakout level.
Solana Price Prediction
The failure of the bulls to push Solana (SOL) up to the $95 breakout level indicates that the bears are active at higher levels.
Sellers will attempt to strengthen their position by bringing Solana price below the $76 level. If they succeed, the SOL/USDT pair could fall to the February 6 low at $67, which is a key support to watch. If the level gives way, the pair could fall to $60.
Any relief rally is likely to run into resistance at the 20-day EMA and then at the $95 level. A close above the $95 level suggests sellers are losing their grip. The pair could then rise to $117.
Related: Bitcoin traders differ on BTC price strength with $60,000 in sight
Dogecoin Price Prediction
Dogecoin (DOGE) declined from the 20-day EMA ($0.10) on Saturday and is expected to fall to the February 6 low of $0.08.
Bulls should defend the $0.08 level fiercely, because if they don’t, they could trigger the next leg of the downward spiral towards $0.06.
The 20-day EMA remains the immediate short-term resistance to watch. A close above the 20-day EMA will be the first sign that selling pressure is easing. The DOGE/USDT pair could then rise to the breakout level of $0.12, where the bears should mount a strong defense.
Bitcoin Cash Price Prediction
Buyers pushed Bitcoin Cash (BCH) above the 50-day SMA ($571) on Sunday, but were unable to sustain the higher levels.
Bears sold aggressively and pulled Bitcoin Cash price below the 20-day EMA ($551). If the price holds below $538, the BCH/USDT pair could fall to the strong support of $500. Buyers should aggressively defend the $500 level, as a close below could send the pair tumbling to $443.
Buyers will need to hold and maintain price above the 50-day SMA to signal strength. The pair could then rise to $600.
Cardano Price Prediction
Despite repeated attempts, buyers failed to push and hold Cardano (ADA) above the 20-day EMA ($0.28) over the past few days.
This increases the likelihood of a fall towards the support line of the descending channel pattern. If the price bounces off the support line and breaks above the 20-day EMA, it suggests that the ADA/USDT pair could remain inside the channel for some more time.
Instead, if Cardano price continues to decline and breaks below the support line, it indicates the resumption of the downtrend. The pair could then plunge towards $0.15. A short-term trend change will be signaled once buyers clear the overhead hurdle on the downtrend line.
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