Key points:
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Bitcoin posted profits on Tuesday, but the slight pullback suggests that bulls are not rushing for the exit as they expect the uptrend to continue.
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Many altcoins have rebounded from their support levels, indicating buying at lower levels.
Bitcoin (BTC) fell sharply on Tuesday, but the bears were unable to bring the price below $120,000. This suggests solid demand at lower levels. The bulls pushed the price above $123,000 and will next attempt to clear the overhead hurdle at $124,474.
Analysts are optimistic about BTC’s prospects in October, which was the second best-performing month on average since 2013, with an average gain of 20.75%, according to CoinGlass data. Economist Timothy Peterson said in an article on X that there is a 50% chance that BTC will end the month above $140,000.
Although the trend remains up, traders should be cautious as failure to move up and sustain above $126,000 could trigger a new round of selling. The next decline could put the $120,000 support at risk of breakdown. If this happens, analysts predict support between $118,000 and $114,000.
Could BTC kick off the next leg of the uptrend, pulling altcoins higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin Price Prediction
BTC hit a new all-time high of $126,199 on Monday, but the bulls were unable to sustain the higher levels.
The BTC/USDT pair declined and fell below the $124,474 breakout level on Tuesday. The ascending 20-day exponential moving average (EMA) ($118,110) and relative strength index (RSI) in positive territory indicate that the bulls hold an advantage.
Buyers will once again attempt to resume the uptrend by pushing Bitcoin price above $126,199. If they succeed, the BTC/USDT pair could climb as high as $138,154.
Conversely, if the price continues to decline and breaks below the 20-day EMA, it suggests that the market has rejected the breakout above $124,474. The pair could then fall to the 50-day simple moving average (SMA) ($114,276).
Ether Price Prediction
Ether (ETH) closed above the resistance line on Monday, but the bears took the price back below the level on Tuesday.
The ETH/USDT pair is attempting to take support at the moving averages, indicating that the bulls are trying to maintain control. Buyers will make another attempt to breach the resistance line and challenge the all-time high of $4,957.
On the contrary, if the price falls below the moving averages, it suggests that the bears are trying to take matters into their own hands. Ether price could then fall to the $4,060 support, where buyers should step in.
BNB Price Prediction
BNB (BNB) has been in a strong uptrend for several days, indicating sustained buying from the bulls.
The bears are trying to stop the uptrend at $1,350, but the slight pullback suggests that the bulls are holding on to their positions as they expect the rally to continue. If buyers push the price above $1,350, the BNB/USDT pair could rise to $1,394 and then to $1,479.
Bears will need to bring BNB price back below the 61.8% Fibonacci retracement level of $1,217 to initiate a deeper correction to the 20-day EMA ($1,097). Buyers should defend the 20-day EMA with all their might as a break below indicates weakening momentum.
XRP Price Prediction
The bulls’ repeated failure to hold XRP (XRP) above the downtrend line over the past few days suggests that the bears are aggressively defending the level.
XRP price declined and dipped below the moving averages on Tuesday. This indicates that the XRP/USDT pair could remain in the bearish descending triangle pattern for some time longer. Sellers will attempt to strengthen their position by lowering the price below the $2.69 support. If they succeed, the pair could begin a decline towards $2.33.
This negative view will be invalidated in the short term if the price rises and closes above the downtrend line. This could propel the pair to $3.20 and then to $3.38.
Solana Price Prediction
Solana (SOL) has been gradually increasing in an ascending channel pattern for several days.
If the price falls below the 50-day SMA ($216), the SOL/USDT pair could fall to the support line. Buyers should defend the support line as a break below could initiate a decline to $191 and then to $175.
Conversely, if the price rises from the current level and breaks above the 20-day EMA ($222), it signals a buy on the dip. The bulls will then try to push the price of Solana up to the resistance line.
Dogecoin Price Prediction
Dogecoin (DOGE) fell $0.27 on Tuesday but finds support at the 50-day SMA ($0.24).
The bulls will attempt to push Dogecoin price above $0.27 and challenge the strong overhead resistance at $0.29. If buyers overcome this hurdle, the DOGE/USDT pair could begin a new uptrend towards the $0.39 trend target.
The sellers will likely have other plans. They will attempt to pull the price towards the uptrend line, which is a critical level for bulls to defend. The developing ascending triangle pattern will be canceled if the bears prevail and pull the price below the uptrend line. This could keep the pair in the $0.14 to $0.29 range for some time to come.
Cardano Price Prediction
Cardano (ADA) closed above the 50-day SMA ($0.85) on Monday, but the bulls were unable to sustain the higher levels.
The ADA/USDT pair declined and fell below the 20-day EMA ($0.83) on Tuesday. This suggests that Cardano price could remain in the descending triangle pattern for a few more days. Selling could accelerate if the bears pull the price below the $0.75 support. This opens the door for a decline to $0.68 and then to $0.60.
Buyers will need to push the price above the resistance line to invalidate the bearish pattern. The pair could rise to $0.95 and then to $1.02.
Related: DOGE price gained 445% the last time this indicator flashed green
Hyperliquid price prediction
Hyperliquid (HYPE) declined from the 61.8% Fibonacci retracement level of $51.87 on Sunday, indicating that bears are selling on rallies.
The next downside support is at $43. If the price rises sharply from $43, it suggests demand at lower levels. The HYPE/USDT pair could consolidate between $43 and $52 for a while.
The advantage will tilt in favor of the bulls if they push the hyperliquid price above $52. The pair could then retest the all-time high at $59.41. On the downside, a break below $43 could send the pair down to $39.68.
Chainlink Price Prediction
Chainlink (LINK) broke away from the resistance line on Tuesday and fell below the 20-day EMA ($22.31).
The bulls are unlikely to give up easily and will once again attempt to push Chainlink price above the resistance line. If they succeed, it suggests that the corrective phase may be over. The LINK/USDT pair could start to rise to $25.64 and then to $27.
Alternatively, if the price moves down from the resistance line and breaks below $21.47, it indicates that the bears remain in control. The pair could then spend a little more time in the descending channel pattern.
Sui Price Prediction
Buyers have failed to push Sui (SUI) towards the downtrend line over the past few days, indicating that bears are selling in rallies.
The flat 20-day EMA ($3.48) and RSI near the midpoint give neither bulls nor bears a clear advantage. If Sui price slips and holds below the moving averages, the next stop will likely be the support line.
Instead, if the price rises sharply from the current level and breaks above the downtrend line, it signals that the bulls are about to return. The SUI/USDT pair could rise to $4 and potentially reach $4.44 later.
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.
