Key points:
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The bulls’ inability to hold Bitcoin above $94,050 resumed selling, opening the door for a fall to $87,700 and then $84,000.
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Most major altcoins remain under pressure and threaten to challenge their recent lows.
Bitcoin (BTC) is stuck in a tight range between $94,588 and $89,260, indicating indecision between the bulls and bears. Prediction markets don’t expect bulls to take charge in the near term, giving only a 30% chance that BTC will hit $100,000 before January 1st.
According to crypto analyst Darkfost, BTC is struggling to recover due to the lack of incoming liquidity, especially from stablecoins. Crypto markets will need to attract new liquidity for BTC to start a “real uptrend.”
Some analysts expect BTC to fall below the recent low of $80,600. Trader Roman said in an article on
What are the crucial support and resistance levels to watch in BTC and major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin Price Prediction
BTC’s rally faces resistance at the 50% Fibonacci retracement level of $94,050, indicating that the bears are active at higher levels.
There is support at $87,700 and then at $84,000. A break below the $84,000 level opens the door to a retest of the November 21 low at $80,600.
Buyers will need to push Bitcoin price above the $94,050 resistance level to signal strength. The BTC/USDT pair could then rise to the 50-day simple moving average (SMA) ($97,411).
The upside is expected to face significant selling in the area between the 50-day SMA and the psychological level of $100,000. A close above $100,000 indicates that the bulls are back in the game.
Ether Price Prediction
Ether (ETH) declined from the $3,350 level on Thursday, and the bears are trying to keep the price below the 20-day exponential moving average (EMA) ($3,125).
If they succeed, it indicates that the bears remain short during rallies. Ether price could drop to $2,907 and then to $2,716. The ETH/USDT pair could resume its downtrend at a close below $2,623.
Conversely, if the price rises from the current level and breaks above the $3,350 resistance, it signals the start of a new upward move. The pair could reach $3,918 and then $4,250.
BNB Price Prediction
BNB (BNB) has been trading near the 20-day EMA ($892) in recent days, indicating a balance between buyers and sellers.
The stable 20-day EMA and RSI just below the midpoint suggest limited action between $791 and $1,020 for the coming days.
Sellers will need to push BNB price below the $791 level to begin the next leg of the downtrend. The BNB/USDT pair could then collapse to $730. On the upside, a close above $1,020 indicates that the correction may be over. The pair could then bounce up to $1,182, which could provide resistance.
XRP Price Prediction
XRP (XRP) remains stuck in the descending channel pattern, indicating that bears are in control.
Bulls will need to propel XRP price above the 50-day SMA ($2.25) to indicate strength. The XRP/USDT pair could then bounce towards the downtrend line, which is a vital level to watch. A close above the downtrend line signals that bulls are back in charge.
The bears will need to push the price below the $1.98 level to pave the way for a decline towards the support line and then towards the critical level at $1.61.
Solana Price Prediction
The long tail of Thursday’s Solana (SOL) candlestick shows bulls aggressively defending the $126 level.
Bulls will need to propel Solana price above the 50-day SMA ($152) to signal a potential near-term trend change. The SOL/USDT pair could then rise to $172 and then to $190.
On the other hand, a breakout and close below the $126 level signals the resumption of the downward movement. The pair could fall to $100 and, after that, to strong support at $95.
Dogecoin Price Prediction
Dogecoin (DOGE) declined from the 20-day EMA ($0.14) on Wednesday, indicating that bears are selling on every minor rally.
If the price continues to decline and closes below the $0.13 support, it signals the start of a new downward move. The DOGE/USDT pair could then plunge to the October 10 low of $0.10, which is likely to attract buyers.
The first sign of strength will be a breakout and close above the 20-day EMA. This shows that the bulls are fiercely defending the $0.14 level. Dogecoin price could rise to the 50-day SMA ($0.16) and later to $0.19.
Cardano Price Prediction
Cardano (ADA) declined from the $0.50 breakout level on Wednesday, indicating that bears are attempting to tip the level into resistance.
The stable 20-day EMA ($0.44) and the relative strength index (RSI) in negative territory indicate a slight advantage for the bears. There is support at $0.40 and then at $0.37. If sellers bring Cardano’s price back below $0.37, the ADA/USDT pair could drop to $0.31 and potentially to the October 10 intraday low of $0.27.
Buyers will need to push and sustain the price above the $0.50 level to signal a return. The pair could then rise to $0.60, then to $0.70.
Related: Ether Price Rises 260% Last Time This Happened: Can ETH Reach $5,000?
Bitcoin Cash Price Prediction
Bitcoin Cash (BCH) appeared off the 20-day EMA ($560) on Thursday, indicating positive sentiment.
The bulls will strive to push the Bitcoin Cash price above the $607 level and challenge the overhead resistance at $651. Sellers should defend the $651 level with all their might, as a break above opens the door for a rally to $720.
The bears will need to push the price below the moving averages to gain the upper hand. If they succeed, this suggests that the BCH/USDT pair could range between $607 and $443 for some time.
Hyperliquid price prediction
Sellers attempted to push Hyper Liquid (HYPE) lower on Thursday, but the long tail on the candlestick shows buying by the bulls.
The HYPE/USDT pair could reach the 20-day EMA ($31.91), which is a critical level to watch. If the price declines sharply from the 20-day EMA, the bears will try to resume the downtrend again.
On the contrary, a break above the 20-day EMA signals that selling pressure is easing. The price of Hyperliquid could then rise to the 50-day SMA ($37.23). A close above the 50-day SMA suggests that the corrective phase may be over.
Chainlink Price Prediction
Chainlink (LINK) has been trading between moving averages in recent days, indicating a balance between supply and demand.
Tight range trading will likely be followed by range expansion. If the price breaks and closes above the 50-day SMA ($14.71), it indicates that the bulls have dominated the bears. The LINK/USDT pair could then rise to $19.06.
Alternatively, a sharp decline below the 20-day EMA ($13.84) indicates that the bears remain in control. Chainlink price could then drop to strong support at $10.94, where buyers are expected to step in.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making a decision. Although we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness or reliability of the information contained in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on such information.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making a decision. Although we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness or reliability of the information contained in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on such information.
