Key points:
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Bitcoin had to sell off near $89,000, but the bulls did not give up much ground, suggesting a rally to $93,500.
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Several major altcoins have begun a recovery, but they will likely face selling to higher levels.
Bitcoin’s (BTC) rally is losing steam as bears attempt to keep the price below the $88,000 level. Veteran trader Peter Brandt said in an article on X that BTC’s current rally is a dead cat bounce.
By comparison, network economist Timothy Peterson was slightly more optimistic. Peterson said in an article on X that, according to an AI-based prediction tool, BTC has only a 15% chance of closing below $84,500 by the end of this year. On the upside, there was less than a 50% chance that BTC would reclaim $100,000 by December 31.
Another positive projection came from SignalPlus Chief Information Officer Augustine Fan, who told Cointelegraph that BTC may have formed “local lows at the moment.” Fan expects BTC to range between $82,000 and $92,000, with the next major downside opening if the price remains below $78,000.
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 is expected to face a sell-off at the 20-day exponential moving average ($93,431).
If price declines from the 20-day EMA, it suggests sentiment remains negative and traders are selling on rallies. The BTC/USDT pair could then retest the $80,600 level. If the support cracks, Bitcoin price could fall to $73,777.
This negative view will be invalidated in the short term if the price continues to rise and exceeds the 20-day EMA. The pair could then climb to the psychological level of $100,000.
Ether Price Prediction
The Ether (ETH) rally is likely to sell off near $3,000, but a positive sign is that the bulls have not given up much ground to the bears.
This indicates that the relief rally may reach the 20-day EMA ($3,120) and then the breakout level of $3,350. If the price moves down from the overhead resistance zone, the bears will attempt to push the ETH/USDT pair below $2,623. If this happens, the price of Ether could collapse to $2,400.
Buyers will need to push and hold the price above the 50-day simple moving average ($3,596) to signal that the downtrend may be over.
XRP Price Prediction
The rally in XRP (XRP) risks selling off at the 20-day EMA ($2.20), but the bulls kept the pressure on.
If the price closes above the 20-day EMA, it suggests that the XRP/USDT pair could extend its stay in the descending channel pattern for some time. A potential trend change will be signaled once buyers push the XRP price above the downtrend line.
Alternatively, if the price declines sharply from the 20-day EMA, the bears will attempt to sink the pair below the support line. If they succeed, XRP price could drop all the way to the vital support of $1.61.
BNB Price Prediction
BNB (BNB) witnessed a tough battle between buyers and sellers at the breakout level of $860.
If the price declines from the current level or the 20-day EMA ($911), it indicates that the bears continue to sell on rallies. This increases the risk of a break below $790, opening the door for a decline to $730.
Instead, if BNB price rises above the 20-day EMA, it indicates that the market has rejected the breakout below the $860 level. The BNB/USDT pair could then rebound to the 50-day SMA ($1,034).
Solana Price Prediction
Solana (SOL) is facing a sell-off near the 20-day EMA ($144), indicating that the bears remain active at higher levels.
Sellers will attempt to push Solana price below the $126 support. If they succeed, the SOL/USDT pair could plunge to $110 and then $95. Buyers are expected to fiercely defend the $95 support.
On the upside, bulls will need to clear the 20-day EMA hurdle to gain the upper hand. The pair could then rebound to the 50-day SMA ($170), where the bears should pose a significant challenge.
Dogecoin Price Prediction
Dogecoin (DOGE)’s bounce off the $0.14 support is running into resistance at the 20-day EMA ($0.16), indicating that the bears are trying to maintain control.
If the price declines sharply from the 20-day EMA, it increases the risk of a breakout below the $0.14 support. Dogecoin price could then drop to the October 10 low of $0.10, which could attract buyers.
Conversely, a breakout and close above the 20-day EMA suggests the bears are losing their grip. The DOGE/USDT pair could then rebound to the 50-day SMA ($0.18), signaling that the price could remain in the wide range between $0.14 and $0.29 for some time to come.
Cardano Price Prediction
Cardano’s (ADA) weak bounce from the $0.38 level indicates a lack of aggressive buying from bulls.
The bears will attempt to resume the downtrend by bringing the price back below the $0.38 level. If they succeed, the ADA/USDT pair could collapse to the October 10 panic low of $0.27.
Buyers have a daunting task ahead of them. Any recovery attempt is likely to result in a sell-off at the $0.50 breakout level, but if the bulls prevail, Cardano price could rally all the way back to the 50-day SMA ($0.58). A close above the 50-day SMA suggests that the downtrend is over.
Related: Four reasons why Ethereum price remains bullish above $2,800
Hyperliquid price prediction
Hyperliquid (HYPE) has reached the breakout level of $35.50, where the bears are expected to mount a strong defense.
If the price declines sharply from the current level, it suggests that the bears have turned the $35.50 level into resistance. This increases the risk of a breakout below the $29.30 level. The HYPE/USDT pair could then fall to $24.
Buyers will need to maintain the hyperliquid price above the 50-day SMA ($39.48) to signal a return. If they do, the pair could rise to $44 and possibly $51.50.
Bitcoin Cash Price Prediction
Buyers attempt to keep Bitcoin Cash (BCH) above the resistance line, but bears continue to exert pressure.
If the price falls below the moving averages, it suggests that the break above the resistance line could be a bull trap. The bears will then attempt to pull the BCH/USDT pair towards strong support at $443.
On the other hand, a strong bounce in the moving averages indicates that bulls are buying on dips. This increases the possibility of a breakout above the $568 level. The Bitcoin Cash price could then reach the $606 levels.
Chainlink Price Prediction
Chainlink (LINK) has moved closer to the 20-day EMA ($13.88), where bears are expected to pose a strong challenge.
If the price declines from the 20-day EMA, the bears will attempt to pull the LINK/USDT pair towards the strong support at $10.94. Buyers should defend the $10.94 level with all their might, as a break below could send the pair tumbling to $7.90.
Conversely, a breakout and close above the 20-day EMA suggests that selling pressure is easing. The pair could then reach the 50-day SMA ($16.22). A close above the 50-day SMA indicates that Chainlink price could remain in the $10.94 to $27 range for some time to come.
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.
