Key points:
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Bitcoin and several altcoins have rebounded from their Friday lows, but higher levels are likely to attract solid resistance from the bears.
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BTC price and some altcoins could see limited action for a few days.
US stock markets, Bitcoin (BTC) and altcoins are trying to recover after the sharp declines seen on Friday following US President Donald Trump’s announcement of a 100% tariff on China.
The fall was brutal, leading to a 24-hour liquidation of around $20 billion, according to CoinGlass data. Several highly leveraged traders, lacking adequate risk control, reportedly suffered massive losses.
This took some of the scum out of the system, paving the way for stronger long-term investors to jump in on the dips. The rebound has started, but a runaway rally may not happen in a hurry.
Economist Timothy Peterson told Cointelegraph on Sunday that BTC will likely enter a three-to-four-week “cooling off period” before resuming its uptrend, albeit “at a slower pace than before.”
Could BTC and altcoins build on the recovery, or will higher levels attract sellers? 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) declined sharply and fell below the 20-day exponential moving average (6,652) on Friday, indicating profit-taking by traders.
The bulls bought the dip to the 50-day simple moving average (SMA) (6,538) and pushed the price up to the 20-day exponential moving average (EMA). If the price declines sharply from the 20-day EMA, the bears will again attempt to push the index below the 50-day SMA. If they succeed, the correction could deepen to 6,350 and then to 6,200.
Instead, if the price closes above the 20-day EMA, it indicates that the correction may be over. The index could then retest the all-time high of 6,764.
US Dollar Index Price Prediction
The US Dollar Index (DXY) closed above the moving averages on Tuesday, signaling that the bears are losing their grip.
The bulls pushed the price above the downtrend line on Thursday, but failed to take advantage of the breakout. Sellers will likely attempt to push the price below the 20-day EMA (98.26), a critical near-term level to watch.
A strong bounce off the 20-day EMA increases the possibility of a breakout above 100.50. The index could then rise to level 102.
Conversely, a close below the moving averages suggests that markets have rejected the breakout above the downtrend line. The index could then fall to the 97 level and later to the strong support of 96.21.
Bitcoin Price Prediction
Sellers failed to complete a double top setup on BTC as they were unable to close below the $107,000 support level.
Bitcoin price fell to $102,000 on Friday but quickly saw a strong recovery, indicating buying at lower levels. The BTC/USDT pair is expected to be sold off at the 61.8% Fibonacci retracement level of $116,955.
However, if buyers overcome resistance, the pair could rally to $121,020 and then to the all-time high of $126,199.
Conversely, if the price declines sharply from the current level, it will likely find support at $109,500 and then $107,000. Buyers are expected to fiercely defend the $107,000 level as a break below increases the risk of a collapse below $100,000.
Ether Price Prediction
Sellers pulled Ether (ETH) below the descending channel pattern on Friday and Saturday, but were unable to hold the lower levels.
Ether price moved back into the channel on Sunday, indicating solid demand at lower levels. If the price declines sharply from the moving averages, the bears will again strive to pull the ETH/USDT pair below the channel. If they succeed, it suggests that the pair may have reached its near-term top.
Contrary to this assumption, if the price breaks above the moving averages, it indicates that the pair may stay inside the channel for some time longer. A breakout and close above the resistance line improves the prospects of resuming the uptrend.
BNB Price Prediction
BNB (BNB) has seen significant volatility in recent days. The bears pulled the price below the 20-day EMA ($1,145) on Friday, but the bulls regained that level on Saturday.
This suggests positive sentiment, where dips are viewed as a buying opportunity. BNB price hit a new all-time high of $1,375 on Monday, but the bulls are struggling to maintain the higher levels. This indicates selling on rallies.
The bears will attempt to strengthen their position by taking the price below the 20-day EMA. If they do, it suggests a near-term top.
On the contrary, if the price rises and closes above $1,350, it indicates that the bulls remain in control. The BNB/USDT pair could then rebound to $1,609.
XRP Price Prediction
XRP (XRP) completed a bearish descending triangle pattern on Friday and dipped well below the $1.72 target.
A minor positive is that XRP price has recovered solidly from the $1.25 low, signaling aggressive buying at lower levels. The relief rally is expected to reach the 20-day EMA ($2.77), where the bears are expected to step in. If the price declines from the 20-day EMA, the XRP/USDT pair could drop to $2.20 and then to $2.
The bulls will need to push the price above the downtrend line to signal a return. By then, the rallies risk being sold out.
Solana Price Prediction
Solana (SOL) fell below the ascending channel pattern on Friday, indicating that the bears are trying to take charge.
The buyers did not give up and bought the dip to $168. This triggered a strong rally on Sunday, pushing the SOL/USDT pair to the channel breakout level.
Related: XRP rebounds 66% after price plunge, regaining $75 billion in market value
If the price declines and falls below $168, it indicates that the sentiment has turned negative. This increases the likelihood of a decline to $155.
The bulls will be back in the game after pushing Solana price above the moving averages. The pair could then bounce towards the overhead resistance of $260.
Dogecoin Price Prediction
Sellers pulled Dogecoin (DOGE) below the $0.14 support level on Friday, but were unable to close below that level.
Dogecoin price recovered strongly and re-entered the wide range of $0.14 to $0.29. The bulls will attempt to push the price up to the 20-day EMA ($0.23), which could attract sellers. If the price falls below the 20-day EMA, the DOGE/USDT pair could decline to $0.18 and then to $0.16.
The next trend move could begin after the price closes above $0.29 or below $0.14. Until then, the pair will likely oscillate within the range.
Cardano Price Prediction
Cardano (ADA) fell below the descending channel pattern on Friday and plunged to the panic low of $0.27.
The lower levels attracted strong buying from the bulls, which pushed the price up to the channel breakout level. Sellers are expected to pose a strong challenge in the area between the support line and the 20-day EMA ($0.78).
If Cardano price declines sharply from the resistance zone, it suggests that the bears remain in control. The ADA/USDT pair could then drop to $0.60 and possibly $0.50.
This negative opinion will be invalidated in the short term if the price continues to rise and crosses the resistance line.
Hyperliquid price prediction
Hyperliquid (HYPE) completed a head-and-shoulders pattern on Friday and plunged toward its $21 target.
Strong buying at lower levels pushed the price back towards the neckline of the H&S pattern, where bears should mount a strong defense. If the price declines from the neckline, sellers will attempt to push the HYPE/USDT pair below the $35.50 support. If they succeed, the price of hyperliquid could drop to $30.50.
Buyers will likely have other plans. They will attempt to push the price above the moving averages, which suggests that the corrective phase may be nearing completion.
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.
