Key points:
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Bitcoin broke above the $70,000 level on Monday, but analysts remain skeptical, expecting a fall below the $60,000 support.
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Several major altcoins have bounced off their supports, indicating demand at lower levels.
Buyers pushed Bitcoin (BTC) above the $70,000 level but failed to sustain the breakout. This suggests that the bears have not given up and are trying to maintain control. Some analysts believe that BTC is likely to drop below its all-time low of $60,000 before hitting its all-time low.
Another negative view came from Glassnode, which said in its recent report that its measure of long-term realized losses by holders, which tracks losses locked in by investors who held coins for more than six months before selling them, suggests that selling pressure may not be exhausted. The indicator’s 30-day simple moving average, at $200 million per day, must fall to levels below $25 million for basic training to begin.
Among all these bearish trends, there is a silver lining for the bulls. According to crypto sentiment platform Santiment, social media platforms recorded five BTC bearish comments for every four BTC bullish comments, the most since February 28.
This is a good sign as markets generally move in the opposite direction to public expectations, suggesting that “things can turn positive sooner rather than later,” Santiment added.
Could buyers extend the rally in BTC and major altcoins? Let’s analyze the graphs.
S&P 500 Index Price Prediction
The S&P 500 Index (SPX) returned to the 20-day exponential moving average (6,601), indicating solid buying at lower levels.
Sellers will attempt to stop the recovery at the 20-day EMA, but if the bulls prevail, the index could reach the 50-day simple moving average (6,777). Sellers are expected to pose a strong challenge at the 50-day SMA.
On the downside, the bears will need to bring the price below the 6,316 level to signal the resumption of the corrective phase. The next support to watch on the downside is the 6,147 level.
US Dollar Index Price Prediction
The US Dollar Index (DXY) is stuck between the 20-day EMA ($99.59) and overhead resistance at 100.54.
Sellers are trying to push the price below the 20-day EMA. If they succeed, the index could decline to the 50-day SMA (98.44). This suggests that the index could trade in a wide range between 95.55 and 100.54 for some time to come.
Buyers will need to keep the price above the 20-day EMA to maintain control. If they do, the possibility of a breakout above the 100.54 level increases. The index could then begin a new upward movement to level 102 then to level 103.54.
Bitcoin Price Prediction
BTC closed above the moving averages on Sunday, indicating that the bulls are trying to make a comeback.
The rather flat moving averages and the relative strength index (RSI) near the midpoint do not give a clear advantage to either the bulls or the bears. If the price holds above the moving averages, the bulls will attempt to push the BTC/USDT pair above the $72,000 resistance. If they succeed, BTC price could reach the resistance zone of $74,508 to $76,000.
The sellers will likely have other plans. They will work to pull the pair below the support line, thereby invalidating the bullish setup. This opens the door for a decline towards the $62,500-$60,000 support zone.
Ether Price Prediction
Ether (ETH) closed above the moving averages on Sunday, setting the stage for a rally towards the $2,200 resistance.
Sellers will try to stop the recovery at the $2,200 level, but if buyers break through the resistance, the ETH/USDT pair could reach the $2,400 resistance. Bulls will need to propel the ETH price above the $2,400 level to begin a sustainable recovery to $2,800 and then $3,050.
Alternatively, if ETH price declines sharply from the $2,200 level and breaks below the moving averages, this suggests that the pair could consolidate for a while. The support for the range lies at the $1,916 level.
BNB Price Prediction
BNB’s (BNB) rebound above the $570 level has reached the moving averages, where bears are expected to step in.
If the price declines sharply from the moving averages, the BNB/USDT pair risks falling below the $570 level. If this happens, the BNB price could resume its downward trend and fall all the way to the $500 level.
Instead, if buyers push the price above the moving averages, it suggests that the pair could extend its stay in the $570-$687 range for a few more days. Buyers will be back in control at the close above the $687 level.
XRP Price Prediction
XRP (XRP) rose from the crucial $1.27 support on Sunday, indicating that bulls are aggressively defending the level.
Bulls will need to close above the 50-day SMA ($1.39) to improve prospects of a rally up to the $1.61 level and later towards the descending channel pattern’s downtrend line.
On the contrary, if XRP price declines sharply from the moving averages and breaks below $1.27, it suggests that the bears remain in control. The XRP/USDT pair could plunge to the $1.11 level and possibly to the support line near the $1 level.
Solana Price Prediction
Solana (SOL) has been hovering between $76 and $98 for several days, indicating a tough battle between the bulls and bears.
If buyers push the price above the moving averages, the SOL/USDT pair could reach the $98 resistance. Sellers are expected to fiercely defend the $98 level in an attempt to keep SOL price range-bound.
The next trend move is expected to start at a close above $98 or below $76. If buyers push the price above the $98 resistance, the pair could reach the $117 level. Conversely, a close below the $76 support could send the pair falling to the $67 level.
Related: First real bullish signal since 2025? Five things to know about Bitcoin this week
Dogecoin Price Prediction
Dogecoin (DOGE) remains stuck in a tight range between the 50-day SMA ($0.09) and the $0.09 level, signaling a balance between supply and demand.
Buyers will gain the upper hand on a close above the moving averages. The DOGE/USDT pair could rise to the $0.11 level and then to the $0.12 resistance. If the price declines from the upper resistance, the pair could hover between $0.12 and $0.09 for some time.
If DOGE price declines from the moving averages and breaks below the $0.09 level, it indicates that the bears have taken control. The pair could fall to the $0.08 level and then to the $0.06 level.
Hyperliquid price prediction
Buyers are attempting to hold Hyperliquid (HYPE) price above the 20-day EMA ($37.03) but are facing strong resistance from the bears.
If HYPE price closes above the 20-day EMA, it suggests that lower levels continue to attract buyers. The HYPE/USDT pair could then rise to $41.59 and, after that, to the $44 level.
This positive view will be negated in the short term if the price declines and falls below the 50-day SMA ($34.48). The pair could then witness a deeper correction up to the $30 level.
Cardano Price Prediction
Cardano (ADA) closed above the $0.25 level on Sunday, signaling that bears are losing their grip.
There is resistance at the 50-day SMA ($0.26), but if the bulls overcome it, the ADA/USDT pair could reach the downtrend line of the descending channel pattern. Sellers should defend the downtrend line, as a close above it signals a potential near-term trend change.
The $0.22 level is the crucial level to watch for a decline. If the support breaks down, ADA price could begin the next leg of the downtrend up to the support line near the $0.16 level.
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