Key points:
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Sellers will attempt to stop the rally at $74,508, but if buyers bulldoze their way in, the rally could reach $84,000.
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Some major altcoins have broken through their general resistance levels, signaling solid demand at lower levels.
Bitcoin (BTC) hit $74,508 on Monday, a level that serves as key near-term resistance. Crypto sentiment platform Santiment said in a recent report that wallets holding between 10 and 10,000 BTC had started to accumulate, which in the past was a bullish sign.
US BTC spot exchange-traded funds (ETFs) also attracted investors, recording five consecutive days of inflows last week. Bernstein said in a research note shared Monday with Cointelegraph that sustained inflows into BTC ETFs and consistent corporate buying by firms such as Strategy have strengthened BTC’s long-term holder base, contributing to a more stable market structure during times of stress.
BTC is showing signs of a trend reversal, but the bears are unlikely to give up easily. Higher levels will likely attract sellers who will attempt to trap aggressive bulls. Material Indicators co-founder Keith Alan said in a video analysis that BTC is still in a bear market and the price could retest support near $60,000.
Could buyers keep BTC and major altcoins above their resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index Price Prediction
The S&P 500 Index (SPX) fell from the 20-day exponential moving average (6,799) on Tuesday, indicating negative sentiment.
The index may reach the 6,550 level, which is a crucial level to watch. If the price rebounds strongly from the 6,550 level, the index could reach the 20-day EMA, where the bears are expected to step in. If the price declines sharply from the 20-day EMA, the probability of a break below the 6,550 level increases. The correction could then deepen to the 6,350 level.
On the contrary, a close above the moving averages suggests that the index could remain in the 6,550-7,002 range for some time to come.
US Dollar Index Price Prediction
The US Dollar Index (DXY) reached resistance at 100.54 on Friday, which is a critical level to watch.
The ascending 20-day EMA (98.76) and RSI near the overbought zone suggest that the path of least resistance is to the upside. If the buyers push the price above the 100.54 level, the index could start a new uptrend up to the 102 level and later up to the 103.54 level.
Contrary to this assumption, if the price declines sharply from the current level and breaks below the moving averages, it suggests that the index could remain in the range of 95.50 to 100.54 for some more time.
Bitcoin Price Prediction
BTC continued its advance and reached the resistance at $74,508, where the bears are expected to mount a strong defense.
The 20-day EMA ($70,028) has started to rise and the RSI is in positive territory, indicating that buyers are trying to take charge. A close above the $74,508 level will complete a bullish ascending triangle pattern, opening the door for a rally to $84,000. Such a move suggests that the downtrend may be over.
Sellers will need to drop the BTC price below the moving averages to weaken the bulls. The BTC/USDT pair could then fall to the support line. A close below the support line tilts the advantage in favor of the bears.
Ether Price Prediction
Ether’s (ETH) consolidation between $1,750 and $2,111 resolved higher with a breakout on Sunday.
The moving averages are on the verge of a bullish crossover and the RSI is in the positive zone, indicating that buyers are back in the game. ETH price could rally to $2,600 and then to $3,450. Such a move suggests that the ETH/USDT pair may have bottomed at $1,747.
The 20-day EMA ($2,072) is the vital support to watch for a decline. A close below the 20-day EMA indicates that the bears are active at higher levels. The pair could then drop to $1,916.
BNB Price Prediction
BNB (BNB) closed above the $670 resistance on Sunday, but the bulls are struggling to hold the higher levels.
The 20-day EMA ($646) is the key support to watch for a decline. If the price rebounds strongly from the 20-day EMA, the BNB/USDT pair could rally back to $730 and then to $790.
This positive view will be invalidated in the short term if the BNB price continues to decline and crosses below the 20-day EMA. This could keep the pair range-bound between $570 and $670 for some time to come.
XRP Price Prediction
XRP (XRP) broke above the 50-day simple moving average ($1.46), indicating sustained buying from the bulls.
If XRP price closes above the 50-day SMA, the next stop will likely be the $1.61 breakout level. If price declines from $1.61 but finds support at the 20-day EMA ($1.41), this suggests bullish sentiment. The XRP/USDT pair could then rise to the downtrend line.
On the contrary, if the price declines from the upper resistance and crosses below the 20-day EMA, it indicates that the bears are selling on minor rallies. This could keep the price in the descending channel pattern.
Solana Price Prediction
Solana (SOL) has reached the $95 breakdown level, which is critical overhead resistance to watch.
If buyers overcome the barrier, the SOL/USDT pair could reach $117. Sellers are expected to pose a significant challenge at $117, but on the downside, if bulls hold SOL price above $95, it suggests positive sentiment. This increases the possibility of a rally to $147.
Instead, if the price declines sharply from the current level and falls below the 20-day EMA ($87), it suggests that the pair could extend its stay in the $76-$95 range for some more time.
Related: Bitcoin hits six-week high of $74.4K as analysts see ‘more upside’ for BTC
Dogecoin Price Prediction
Dogecoin (DOGE) surpassed the 50-day SMA ($0.10), indicating that bears are losing their grip.
The DOGE/USDT pair could rally up to the $0.12 breakout level, where bears are expected to sell aggressively. If DOGE price declines sharply from $0.12, this indicates a possible range formation. The pair may hover between $0.09 and $0.12 for a few days.
On the other hand, a breakout and close above the $0.12 resistance signals that the bulls are back in charge. This opens the way for a rally up to the $0.16 level, which is expected to act as strong resistance.
Cardano Price Prediction
Cardano (ADA) surpassed the 50-day SMA ($0.28), indicating that bulls are attempting to make a comeback.
The bears are expected to vigorously defend the downtrend line, but if the bulls prevail, the ADA/USDT pair could signal a near-term trend change. ADA price could rise to $0.37 and then to $0.44.
Conversely, if the price declines sharply from the downtrend line and crosses below the moving averages, this suggests that the pair could continue to oscillate inside the channel for a few more days.
Hyperliquid price prediction
Sellers attempted to push Hyperliquid (HYPE) below the $36.77 breakout level on Sunday, but the bulls held firm.
This suggests that the bulls are working to push the $36.77 level into support. If they succeed, the HYPE/USDT pair could rise to $43 and then $50.
The first support on the downside lies at $36.77 and then at the 20-day EMA ($33.95). Sellers will need to pull the HYPE price below the 50-day SMA ($31.56) to suggest that the market has rejected the breakout above $36.77. The pair could then drop to $29.
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