Key points:
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Bitcoin bulls try to maintain the worth above $107,000, but bears proceed to exert selling pressure.
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The recovery of most major altcoins has stalled, suggesting that bears proceed to sell on smaller rallies.
Buyers have managed to maintain Bitcoin (BTC) above the important thing support level at $107,000, but the dearth of a solid recovery suggests that bears have maintained their pressure. The near-term uncertainty has divided analysts over BTC's next directional move.
Geoff Kendrick, global head of digital asset research at Standard Chartered, told Cointelegraph that BTC stays on course to achieve $200,000 by the top of 2025. Kendrick believes investors will view the recent selloff as a buying opportunity and push BTC higher.
Daily view of crypto market data. Source: Coin360
At the opposite end of the spectrum is veteran trader Peter Brandt, who sees similarities between the BTC chart and the Seventies soybean market, which plunged 50% after global supply exceeded demand. Brandt told Cointelegraph that BTC is forming a widening top chart pattern, “famous for tops,” which could push the worth to around $60,000.
What critical support levels do you have to be careful for in BTC and major altcoins? To discover, let's analyze the charts of the highest 10 cryptocurrencies.
Bitcoin price prediction
BTC rallied sharply on Tuesday, but bears abandoned the recovery attempt on the 50-day easy moving average ($114,137).
Sellers will try to strengthen their position by pushing Bitcoin price below the $107,000 support. If they succeed, the chance of a decline in psychological support increases by $100,000. Buyers are expected to defend the $100,000 mark with all their might, otherwise a brand new downtrend could begin.
The first sign of strength shall be a break and shut above the $116,000 level. This suggests that the BTC/USDT pair could remain within the $107,000-$126,199 range for a while.
Ether price prediction
Ether (ETH) turned down from the 20-day exponential moving average ($4,062) on Tuesday, suggesting bears are selling on smaller rallies.
The bears will try to sink Ether price below the support line of the descending channel pattern. If they succeed, selling could pick up and the ETH/USDT pair could fall to $3,350.
Buyers must push the worth above the moving averages to point that the pair could remain inside the channel for some time longer. If the worth closes above the resistance line, the bulls will gain the upper hand.
BNB price prediction
BNB (BNB) has been trading between the moving averages since Friday, indicating a troublesome battle between bulls and bears.
The falling 20-day EMA ($1,122) and the RSI in negative territory suggest a slight advantage for the bears. A detailed below the 50-day SMA ($1,041) will signal the beginning of a brand new downtrend to $932.
In contrast, an in depth above the 20-day EMA suggests that the bulls have overwhelmed the bears. This opens the doors for a recovery rally to the 50% Fibonacci retracement level at $1,198.
XRP price prediction
XRPs (XRP) are rebounding from the $2.30 support that fizzled out on the 20-day EMA ($2.55) on Tuesday, indicating negative sentiment.
The bears will look to increase their advantage by pushing the XRP price below the $2.19 support level. If they succeed, the XRP/USDT pair could fall to $2.06 after which to $1.90.
Buyers must quickly push the worth above the 20-day EMA to signal a comeback. The pair could then rise to the 50-day SMA ($2.79) and later to the descending trend line. A detailed above the downtrend line indicates the top of the correction phase. The pair could then rise towards $3.38.
Solana price prediction
Solana (SOL) turned down from the 20-day EMA ($198) on Tuesday, suggesting bears try to remain on top of things.
The SOL/USDT pair could slide towards the support line of the descending channel pattern, where buyers are expected to intervene. Bulls must push Solana price above the 20-day EMA to point that the pair could remain inside the channel for some time longer. If the worth closes above the resistance line, a brand new upward move could begin.
Sellers probably produce other plans. They will attempt to push the worth below the support line. If they succeed, the pair could crash to $155 after which to $145.
Dogecoin price prediction
Dogecoin (DOGE) did not rise above the 20-day EMA ($0.21), suggesting bears are selling on smaller rallies.
Dogecoin price could fall to $0.18, which is an important support to observe out for. If bears pull the DOGE/USDT pair below $0.18, the subsequent stop is more likely to be at $0.16 and eventually $0.14.
Contrary to this belief, a pointy increase in price and a break above the 20-day EMA indicates that selling pressure is easing. The pair could climb to the 50-day SMA ($0.23) and later to the stiff overhead resistance at $0.29.
Cardano price prediction
Cardano (ADA)'s recovery attempt did not even reach the 20-day EMA ($0.70), indicating an absence of demand at higher levels.
The bears will look to extend their advantage by pulling Cardano price below the $0.59 support. If they succeed, the ADA/USDT pair could fall to the critical support at $0.50. Buyers are expected to defend the $0.50 level with all their might as an in depth below opens the best way for a decline to $0.40.
This negative view shall be invalidated within the near term if the worth rises and rises above the $0.75 breakout level. The pair could then climb to the downtrend line.
Hyperliquid price prediction
Hyperliquid (HYPE) turned lower from the neck line of the pinnacle and shoulders pattern, suggesting that bears remain on top of things.
The falling 20-day EMA ($40.09) and the RSI in negative territory increase the likelihood of further downtrend. There is support at $33.28, but when the extent is broken, the HYPE/USDT pair could decline to $30.50 after which to $28.
Bulls must push the hyperliquid price above the neckline and hold it to signal that selling pressure is easing. The pair could rise to the 50-day SMA ($46.42) after which to $51.
Chainlink price prediction
Chainlink (LINK) fell near the support line of the descending channel pattern after buyers did not push the worth above the 20-day EMA ($19.02).
Sellers will try to push the worth below the support line and retest the $15.43 level. Repeated retesting of a support level tends to weaken it. If the $15.43 level gives way, Chainlink price could fall to $12.73.
Bulls must push and hold the worth above the 20-day EMA to point out strength. The LINK/USDT pair could then rally to the resistance line, where the bears are expected to sell aggressively.
Excellent price prediction
The bears halted Stellar's (XLM) recovery rally near the 20-day EMA ($0.34) on Tuesday, indicating negative sentiment.
The XLM/USDT pair is vulnerable to falling to $0.29, which is a very important support to observe out for. If the $0.29 support is broken, the selling could speed up and Stellar price could decline to $0.25.
Buyers must push and sustain the worth above the $0.34 breakout level to signal strength. The pair could then rise to the downtrend line, where the bears are expected to pose a serious challenge. A detailed above the downtrend line signals a possible trend reversal.
This article doesn’t contain any investment advice or recommendations. Every investment and trading activity involves risks and readers should conduct their very own research when making their decision.
