Key points:
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Bitcoin climbed above $76,000, opening the door for a further rise towards $84,000.
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Several major altcoins are showing strength, signaling widespread buying from bulls.
Bitcoin (BTC) climbed above the $76,000 resistance on Friday after Iran’s foreign minister said the Strait of Hormuz would remain open for the remainder of the ceasefire between the United States, Israel and Iran.
Another positive sign for the bulls is that BTC’s rise has been supported by solid whale accumulation. According to data from CryptoQuant, BTC whales holding more than 1,000 BTC added around 270,000 coins in the last 30 days, the largest buying frenzy since 2013.
However, some analysts remain skeptical about BTC’s progress. Glassnode said in its latest Week Onchain newsletter that the current rally has more weight, but is likely to face selling pressure at the real market average at $78,100. Buyers will need to keep the price above $78,100 in the medium term to create a “structural shift towards a bull market.”
Another cautious view came from trading resource material indicators. In a video posted on
Could BTC and some major altcoins hold above their general resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin Price Prediction
BTC surpassed the $78,000 level on Friday, its highest level in ten weeks, indicating sustained buying by bulls.
The rising 20-day exponential moving average ($72,136) and RSI near the overbought zone indicate that the bulls are trying to take control. A close above the $76,000 level will complete a bullish ascending triangle pattern, opening the door for a rally to $84,000 and then the $92,000 pattern target.
Moving averages are critical support levels to watch on the downside, as a close below them suggests the bears remain in control. The BTC/USDT pair could then fall towards the triangle support line.
Ether Price Prediction
Sellers attempted to stop the recovery at the $2,415 level for Ether (ETH), but the bulls continued to exert pressure and did not allow the price to drop below the 20-day EMA ($2,235).
If ETH price closes above the $2,415 resistance level, the recovery could extend to $2,800 and then to $3,050. Such a move suggests that the ETH/USDT pair may have bottomed at $1,748.
This bullish view will be invalidated in the short term if the price falls sharply and goes below the moving averages. This suggests that the break above the $2,415 level could be a bull trap. The pair could then decline to the $1,916 level.
XRP Price Prediction
XRP (XRP) closed above the 50-day simple moving average ($1.38) on Wednesday, indicating that bears are losing their grip.
The 20-day EMA ($1.37) has started to gradually rise and the RSI is in positive territory, indicating an advantage for the bulls. XRP price could move back towards the downtrend line of the descending channel pattern, which should behave as a formidable obstacle. If buyers clear the hurdle, the XRP/USDT pair will indicate a potential trend change.
Moving averages are the essential support to watch on a decline. If support breaks down, the pair could retest the crucial $1.27 level.
BNB Price Prediction
BNB (BNB) closed above the 50-day SMA ($626) on Thursday, indicating that selling pressure is easing.
If BNB price remains above the moving averages, the next stop will likely be the $687 level. Sellers will attempt to stop the rally at $687, but if buyers bulldoze their way in, the rally could reach $730 and eventually $790.
On the contrary, if the price declines from the current level or upper resistance and breaks below the moving averages, it indicates that the BNB/USDT pair could remain in the $570-$687 range for some time to come.
Solana Price Prediction
Solana (SOL) closing above the moving averages suggests that the bulls are trying to push the price up to the $98 resistance.
Sellers are expected to fiercely defend the $98 level. If the SOL/USDT pair falls sharply from $98 and breaks below the moving averages, this indicates that the consolidation could extend for a few more days.
The first sign of upside strength will be a breakout and close above the $98 resistance. This opens the door for a rally up to the $117 level, where the bears are expected to step in again.
Dogecoin Price Prediction
Dogecoin (DOGE) broke out of the moving averages on Wednesday and reached the $0.10 level on Thursday.
Sellers will work to stop the rally at the $0.10 level, but if buyers do not give up much ground from the current level, this increases the possibility of a rally to $0.11 and then to $0.12.
The bears probably have other plans. They will attempt to bring the price of DOGE below the moving averages. If they succeed, the DOGE/USDT pair could fall to the strong support of $0.09.
Hyperliquid price prediction
Sellers are attempting to push Hyperliquid (HYPE) back below the $43.76 breakout level, but the bulls held firm.
If HYPE price continues to rise and breaks above the $46 level, it suggests that the bulls have flipped the $43.76 level into support. This increases the likelihood of a rally towards the $50 zone to $51.43.
Time is running out for the bears. They will need to bring the HYPE/USDT pair below the 20-day EMA ($40.78) to make a comeback. If they succeed, the pair could fall to the 50-day SMA ($37.38).
Related: Bitcoin Price Quietly Hits New 10-Week High as Trader Sees $88,000 in Weeks
Cardano Price Prediction
Cardano (ADA) continued its rally and will likely test resistance at the descending channel pattern’s downtrend line.
Sellers are expected to aggressively defend the downtrend line, but if the bulls prevail, the ADA/USDT pair could rise to $0.32 and then to $0.37. Such a development signals a potential trend change in the short term.
On the contrary, if ADA price deviates from the downtrend line and crosses below the moving averages, it suggests that the pair could remain in the channel for some time.
Bitcoin Cash Price Prediction
Bitcoin Cash (BCH) broke above the 20-day EMA ($447) on Thursday, but the relief rally risks selling off at the 50-day SMA ($454).
The 20-day EMA is stabilizing and the RSI is near the midpoint, suggesting that selling pressure is easing. If the bulls prevent BCH price from falling below $443, it could signal a change in sentiment. This increases the likelihood of a breakout above the 50-day SMA. If this happens, the BCH/USDT pair could rise to $486 and then to $520.
Alternatively, if the price falls below $443, it indicates that the bears remain short during rallies. The pair could then plunge towards the strong support of $419.
Chainlink Price Prediction
Chainlink (LINK) is attempting to break through the $8-$10 resistance, where bears are expected to mount a strong defense.
If price declines from overhead resistance and breaks below the moving averages, this suggests that the LINK/USDT pair could consolidate inside the range for a few more days.
On the other hand, if LINK price closes above the $10 level, it indicates that the consolidation has resolved in favor of the bulls. The pair could then rise to the $11.61 level, where the bears should intervene. There is resistance at $10.94, but it will likely be breached.
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