Key points:
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Bitcoin’s relief rally risks selling near $112,000, signaling that the bears have not given up.
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Buyers defended support levels for some major altcoins, but unless they push the price above overhead resistance, selling is likely to resume.
Bitcoin (BTC) attempts a comeback, but bears are selling the recovery near $112,000. Bitfinex analysts said in a report that October’s 18.1% peak-to-trough decline is “consistent with previous cycle top retests since 2023,” indicating consolidation rather than a trend reversal.
Galaxy Digital CEO Mike Novogratz said in an interview with CNBC that BTC “should hold” around $100,000. He expects BTC to remain in a range of $100,000 to $125,000 and that the price will only accelerate after breaking this range.
Some analysts expect BTC to break below the $107,000 support level, but they do not expect a significant decline. Nick Ruck, director of LVRG research, told Cointelegraph that BTC could see a healthy market correction to $104,000, but strong fundamentals and robust institutional interest point to a resumption of the bull market.
What are the critical 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 rebounded from the $107,000 level on Thursday, indicating that bulls continue to vigorously defend the level.
Buyers will need to push the price above the moving averages to signal a return. The BTC/USDT pair could then attempt to rebound to the all-time high of $126,199.
The $107,000 support remains the key level to watch on the downside. Sellers will need to keep the price below $107,000 to complete the double top pattern. If this happens, Bitcoin price could begin a deeper correction to $100,000 and then to the $87,801 target.
Ether Price Prediction
Ether (ETH) broke out from the descending channel’s support line on Wednesday, but the rally risks selling off at the 20-day EMA ($4,023).
The bears will attempt to capitalize on their advantage by pulling the price of Ether below the support line. If they succeed, the ETH/USDT pair could begin a decline to $3,435 and then $3,350.
On the contrary, a break above the 20-day EMA suggests that the bears are losing their grip. The price could then rise to the 50-day SMA, signaling that the pair could continue to oscillate inside the channel for some time to come.
BNB Price Prediction
BNB (BNB) bounced off the 50-day SMA ($1,051) on Wednesday, but the relief rally risks selling off near the 38.2% Fibonacci retracement level of $1,156.
If the price holds below the 20-day EMA ($1,120), the bears will once again attempt to push the BNB/USDT pair below the 50-day SMA. If they succeed, BNB price could see a deeper correction to $1,021 and then to $1,000.
Buyers will need to push the price above the $1,156 resistance to suggest that the corrective phase may be over. The pair could then move up to the 61.8% retracement level of $1,239.
XRP Price Prediction
XRP (XRP) has reached the 20-day EMA ($2.52), where bears are expected to mount a strong defense.
If XRP price declines sharply from the 20-day EMA, it suggests that sentiment remains negative and bears are selling in rallies. This could keep the price stuck in the descending channel for a few more days.
Alternatively, if the price closes above the 20-day EMA, it shows that the selling pressure is decreasing. The XRP/USDT pair could reach the breakout level of $2.69 and later up to the downtrend line.
Solana Price Prediction
Solana (SOL) has reached the 20-day EMA ($196), which is a critical short-term level to watch.
If buyers push the price above the 20-day EMA, the SOL/USDT pair could rise to the resistance line. Sellers are expected to defend the resistance line with all their might, as a break above it tilts the advantage in favor of buyers. The price of Solana could then rise to $238 and possibly to $260.
Conversely, if the price declines sharply from the 20-day EMA, the bears will attempt to pull the pair towards the support line.
Dogecoin Price Prediction
Dogecoin (DOGE) remains stuck below the $0.21 level, but the bears failed to keep the price below $0.18.
The bulls will attempt to make a comeback by pushing the price above $0.21. If they succeed, the DOGE/USDT pair could rebound to the 50-day SMA ($0.23) and then strong overhead resistance at $0.29.
The sellers will likely have other plans. They will attempt to stop the relief rally at the 20-day EMA and bring the pair back below the $0.18 support. If this happens, Dogecoin price could drop to $0.16 and then to $0.14.
Cardano Price Prediction
Cardano (ADA) rose from the $0.60 level on Wednesday, indicating that bulls are aggressively defending the level.
The 20-day EMA ($0.69) is the critical level to watch on the upside. If the price declines sharply from the 20-day EMA, the possibility of a break below $0.60 increases. The price of Cardano could then drop to $0.50.
Alternatively, if buyers push the price above the 20-day EMA, the ADA/USDT pair could bounce up to the 50-day SMA ($0.79) and later towards the downtrend line. Buyers will need to push the price above the downtrend line to signal a potential trend change.
Related: How high can HYPE price go after Robinhood listing?
Hyperliquid price prediction
Hyperliquid (HYPE) bounced off the $35.50 support on Wednesday, indicating that the bulls are active at lower levels.
The buyers are trying to strengthen their position by pushing the hyperliquid price above the 20-day EMA ($40.02). If they succeed, the HYPE/USDT pair could rebound all the way to the 50-day SMA ($46.18).
On the other hand, if the price declines from the current level, it indicates that bears are selling in rallies. The next leg of the downtrend to $30.50 could begin after sellers pull the pair below the $35.50 support.
Chainlink Price Prediction
Chainlink (LINK) bounced off the support line on Wednesday, signaling that the bulls are trying to keep the price in the descending channel pattern.
The relief rally is expected to face a sell-off at the 20-day EMA ($18.73). If the price declines sharply from the 20-day EMA, the bears will once again attempt to pull the LINK/USDT pair towards the $15.43 support.
Conversely, a breakout and close above the 20-day EMA opens the door for a rally towards the channel resistance line. Sellers are expected to defend the resistance line, but if buyers bulldoze their way in, Chainlink price could rally to $23.73 and then to $25.64.
Stellar Price Prediction
Stellar (XLM) is attempting to initiate a recovery, which is expected to sell off at the 20-day EMA ($0.33).
If the price declines from the 20-day EMA ($0.33), the bears will once again attempt to push the XLM/USDT pair below the $0.29 support. If they succeed, Stellar price could drop to $0.25.
Contrary to this assumption, if the price rises above the 20-day EMA, it signals that selling pressure is decreasing. The bulls will be back in control after propelling the price above the downtrend line.
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.
