Key points:
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Buyers must push Bitcoin above $94,589 to open the gates to a retest of the psychological level of $100,000.
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Ether is showing strength, but several other major altcoins are struggling to keep up their momentum.
Bitcoin (BTC) declined from $94,589 on Tuesday, but bulls try to maintain the value above $92,000. Market participants can be paying close attention to Fed Chairman Jerome Powell's press conference and individual Fed officials' point-by-point presentation of rate of interest expectations on Wednesday.
While some analysts say the underside has been reached, others consider the present recovery rally to be a dead bounce that can likely be sold. Pseudonymous analyst Colin Talks Crypto said in a post on X that BTC could fall into the $74,000-$77,000 zone.
Daily view of crypto market data. Source: TradingView
The short-term uncertainty surrounding BTC price motion has not stopped Michael Saylor's strategy from adding to his BTC holdings. Strategy purchased 10,624 BTC last week for roughly $962.7 million at a median price of $90,615. This brought Strategy's total holdings to 660,624 BTC purchased at a median price of $74,696.
What are the crucial support levels to observe out for in BTC and major altcoins? To discover, let's analyze the charts of the highest 10 cryptocurrencies.
Bitcoin price prediction
BTC closed above the 20-day exponential moving average (EMA) ($91,583) on Tuesday, but bulls didn’t sustain the value above the $94,150 resistance.
If Bitcoin price rises from the 20-day EMA and closes above $94,589, it’ll signal the opportunity of a rally to the $100,000 breakout level. Sellers are expected to defend the $100,000 mark with all their might as an in depth above it could catapult the BTC/USDT pair to $107,000. Such a move suggests that the correction phase could also be over.
If the value as a substitute declines sharply and breaks below $87,719, it’ll indicate that the bears proceed to sell on rallies. The pair could then slide to $83,822.
Ether price prediction
Ether (ETH) recovery has reached the breakout level of $3,350, suggesting solid buying at lower levels.
The 20-day EMA ($3,116) has began to step by step rise and the Relative Strength Index (RSI) is in positive territory, suggesting that bulls try a comeback. An in depth above $3,350 paves the way in which for a rebound to $3,659 after which to $3,918.
Sellers must push Ether price back below the 20-day EMA to retain the advantage. If they do, it’ll indicate that the $3,350 level has became resistance. The ETH/USDT pair could then fall to $2,716.
XRP price prediction
XRP (XRP) has been trading below the 20-day EMA ($2.12) for the past few days, however the bears have didn’t lower the value to the support line of the descending channel pattern.
The bulls will attempt to strengthen their position by pushing the value above the 20-day EMA. If they succeed, the XRP/USDT pair could rally to the 50-day easy moving average (SMA) ($2.26) after which to the descending trend line.
On the contrary, if the XRP price declines and falls below $1.98, it’ll indicate that the bears remain on top of things. The pair could fall to the channel's support line after which to the $1.61 level.
BNB price prediction
BNB (BNB) witnessed a tricky battle between bulls and bears on the 20-day EMA ($894).
The flattening 20-day EMA and the RSI just under the midpoint suggest a balance between supply and demand. The BNB/USDT pair could fluctuate between $791 and $1,020 for a couple of days.
Buyers must push BNB price above the $1,020 level to point that the correction phase could also be over. The pair could then attempt an increase to $1,182. On the opposite hand, a break below $791 could send the pair lower to $730.
Solana price prediction
Buyers try to maintain Solana (SOL) above the 20-day EMA ($138), but bears have held their ground.
The flattening 20-day EMA and the RSI just under the midpoint suggest bearish momentum is fading. If buyers clear the 20-day EMA resistance, the SOL/USDT pair could rise to the 50-day SMA ($154) after which to $172.
On the contrary: a break and shut below the $126 support signals the resumption of the downward movement. Solana price could fall to $110 and eventually to the solid support at $95.
Dogecoin price prediction
Buyers have successfully defended Dogecoin (DOGE)'s $0.14 support but are struggling to maintain the value above the 20-day EMA ($0.15).
If the value drops sharply from the 20-day EMA and falls below $0.14, it’ll signal that bears remain on top of things. Dogecoin price could then fall to the October 10 low of $0.10.
Alternatively, if buyers push the value above the 20-day EMA, the DOGE/USDT pair could reach the 50-day SMA ($0.16). This is a critical level that the bears must defend as a break above will open the way in which for a rally to $0.21
Cardano price prediction
Cardano (ADA) broke above the 20-day EMA ($0.44) on Tuesday, indicating that selling pressure is easing.
The bulls will attempt a comeback by pushing Cardano price above the 50-day SMA ($0.51). If they succeed, the ADA/USDT pair could rise to $0.60 after which to $0.70.
On the contrary, if the value turns sharply lower from the breakout level of $0.50 and falls below the 20-day EMA, it’ll signal that the bears have converted the extent into resistance. The pair could then fall to the $0.37 level.
Bitcoin Cash price prediction
Bitcoin Cash (BCH) turned lower from the $607 resistance on Monday, suggesting that demand is easing at higher levels.
The bears try to push Bitcoin Cash price below the 20-day EMA ($556). If they succeed, the BCH/USDT pair could slide to the 50-day SMA ($528) after which to $508.
Buyers must defend the 20-day EMA and push the value above the $607 level to retain the advantage. The pair could then rise to $615 after which to $651, where the bears are expected to intervene.
Chainlink price prediction
Chainlink (LINK)'s recovery is countered by selling on the 50-day SMA ($14.84), suggesting bears are lively at higher levels.
Bulls are expected to defend the 20-day EMA ($13.79) on the way in which down as a break below could send the LINK/USDT pair lower to the crucial support at $10.94.
If the value moves up from the 20-day EMA, the probability of a break above the 50-day SMA increases. If that happens, Chainlink price could gain momentum and rise to $16.90, followed by an increase to $19.06. This suggests that the pair could remain within the broad range of $10.94 to $27 for a while
Hyperliquid price prediction
Hyperliquid (HYPE) closed below support at $29.37 on Tuesday, but lower levels are attracting buyers.
The RSI is showing early signs of bullish divergence, suggesting that selling pressure is easing. The HYPE/USDT pair is predicted to realize strength if buyers push the value above the 20-day EMA ($32.53).
On the opposite hand, if the Hyperliquid price diverges from the present level or the 20-day EMA, it shows that the bears proceed to sell on rallies. This increases the chance of a decline to the October 10 low of $20.82.
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