Key points:
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Bitcoin could reach the $94,789 level, where bears are expected to intervene.
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Some major altcoins are showing strength, indicating that the recovery could continue for some time.
Bitcoin (BTC) gains have pushed the price above $92,000, but higher levels could attract sellers. Net outflows of $1.37 billion from BTC exchange-traded funds between Tuesday and Friday last week, according to SoSoValue data, show that institutional investors remain cautious.
Jurrien Timmer, director of global macro at Fidelity Investments, said in an article on He added that if BTC consolidates for the next year, then the $65,000 level “could become a make or die line” for BTC.
Regardless of the near-term uncertainty, the world’s largest BTC holding company, Strategy, added 13,627 BTC to its balance sheet last week at an average price of $91,519 per coin. This brings the company’s holdings to 687,410 BTC, acquired at an average price of $75,353 per coin.
Could BTC and major altcoins break out above their general resistance levels? 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) hit a new all-time high on Friday, signaling the resumption of the uptrend.
Ascending moving averages and the Relative Strength Index (RSI) in positive territory indicate an advantage for buyers. There is resistance at the 7,000 level, but it is likely to be breached. The index could then rise to 7,290.
Time is running out for the bears. They will need to push the price below the 50-day simple moving average (SMA) (6,819) to weaken the bullish momentum. The index could then fall to the level of 6,720.
US Dollar Index Price Prediction
The US Dollar Index (DXY) rose above the 50-day SMA (99.06) on Friday, but the bulls were unable to sustain the higher levels.
The index has slipped to the 20-day exponential moving average (EMA) (98.60), which should act as support. If price bounces off the 20-day EMA, this increases the possibility of a rally towards overhead resistance at 100.54. A close above the 100.54 level signals the start of a new upward move.
The sellers will likely have other plans. They will attempt to push the price below the 20-day EMA. If they do, the index could slide to strong support at 97.74. This suggests that the index could remain in the range of 96.21 to 100.54 for some time to come.
Bitcoin Price Prediction
BTC’s pullback from resistance at $94,789 took support from the moving averages, indicating a buy on the dip.
The bulls will attempt to strengthen their position by pushing Bitcoin price above the $94,789 level. If they succeed, the BTC/USDT pair could reach the $100,000 level and then up to $107,500. Such a decision suggests that the corrective phase may be over.
On the contrary, if the price moves down from $94,789 and breaks below the moving averages, it indicates that the bears remain active at higher levels. This could keep the pair stuck in the $84,000-$94,789 range for some time to come.
Ether Price Prediction
Ether (ETH) broke out from the 20-day EMA ($3,088), indicating that bulls are trying to take control.
A close above the resistance line tilts the advantage in favor of buyers. The ETH/USDT pair could rally to $3,569 and then to $4,000.
On the other hand, if the price moves down from the resistance line and breaks below the moving averages, it suggests that the pair could stay inside the triangle for a few more days. The bears will gain the upper hand in the event of a break below the support line. The price of Ether could then collapse to $2,623.
XRP Price Prediction
The buyers are trying to keep XRP (XRP) above the moving averages, but the bears have kept the pressure on.
If the price dips below the moving averages, it suggests that the XRP/USDT pair could remain in the descending channel pattern for a while longer. The $1.61 level is the crucial support to watch on the downside. A breakout and close below the $1.61 level increases the risk of a fall to the October 10 low of $1.25.
Buyers will need to propel the XRP price above the downtrend line to signal a near-term trend change. The pair could rise to $2.70 and then to $3.10.
BNB Price Prediction
BNB (BNB) is trading in a tight range between the moving averages and overhead resistance at $928.
The ascending 20-day EMA ($887) and the RSI in the positive zone increase the probability of an upward breakout. If this happens, the BNB/USDT pair will complete a bullish ascending triangle pattern. BNB price could then rebound to the target target of $1,066.
On the contrary, if the price declines and breaks below the moving averages, it suggests that the bears are fiercely defending the $928 level. This could take the pair back towards the uptrend line and then towards the $790 support.
Solana Price Prediction
Solana (SOL) broke out from the moving averages and reached the $147 level, where the bears are expected to intervene.
The ascending 20-day EMA ($134) and RSI above level 64 suggest that the path of least resistance is to the upside. A close above the $147 resistance could initiate a further rise to $172.
Instead, if Solana price declines and falls below the moving averages, it indicates that the SOL/USDT pair could extend its stay in the $117-$147 range for some time.
Related: Ethereum Prepares for 95% Copy Rally Against Bitcoin
Dogecoin Price Prediction
Dogecoin (DOGE) is witnessing a tough battle between the bulls and bears at the moving averages.
Flat moving averages and the RSI near the midpoint do not give a clear advantage to either bulls or bears. If the price falls below the moving averages, the DOGE/USDT pair could drop to $0.13 and then to $0.12.
On the upside, a breakout and close above the $0.16 resistance signals that the market has rejected the breakout below the $0.13 support. Dogecoin price could rally to $0.19 and then to $0.22.
Cardano Price Prediction
Buyers are trying to hold Cardano (ADA) above the moving averages, but the weak rebound increases the risk of breakdown.
If the price falls below the moving averages, the ADA/USDT pair could drop to $0.37 and then to $0.33. Buyers should aggressively defend the $0.33 level, as a break below could send the pair tumbling to the October 10 low of $0.27.
The first sign of strength will be a breakout and close above $0.44. Cardano price could then rise to the $0.50 breakout level, which is a critical resistance to watch. Buyers will need to cross the $0.50 level to signal a return.
Bitcoin Cash Price Prediction
Buyers attempted to push Bitcoin Cash (BCH) above the $670 resistance on Sunday, but bears held firm.
The bears are trying to strengthen their position by lowering the price of Bitcoin Cash below the 20-day EMA ($619). If they do, the BCH/USDT pair could fall all the way to the 50-day SMA ($586). Buyers should defend the 50-day SMA as a close below suggests the break above $631 may have been a bull trap. The pair could then drop to $518.
Conversely, if the price rises from the moving averages and exceeds $670, it indicates that buyers remain in control. The pair could then rise to $720, which should provide strong resistance.
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