Key points:
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Bitcoin faced a sell-off at around $89,000, but bulls haven’t given much ground, suggesting a rebound to $93,500.
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Several major altcoins have began a rally, but they’re more likely to need to sell at higher levels.
Bitcoin (BTC) recovery is losing steam as bears try to keep the value below the $88,000 level. Veteran trader Peter Brandt said in a post on X that BTC's current rally is a dead bounce.
In comparison, network economist Timothy Peterson was a little bit more optimistic. Peterson said in a post on On the Way Up that there was lower than 50 percent probability that BTC would get better $100,000 by December 31.
Daily view of crypto market data. Source: TradingView
Another positive prediction got here from Augustine Fan, Head of Insights at SignalPlus, who told Cointelegraph that BTC could have hit “local lows for now.” Fan expects BTC to maneuver between $82,000 and $92,000, with the following major downtrend looming if the value stays below $78,000.
What are the crucial support and resistance 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’s recovery is anticipated to be countered by selling on the 20-day exponential moving average ($93,431).
If the value diverges from the 20-day EMA, it suggests that sentiment stays negative and traders are selling on rallies. The BTC/USDT pair could then retest the $80,600 level. If the support is broken, Bitcoin price could fall to $73,777.
This negative view shall be invalidated within the short term if the value continues to rise and breaks above the 20-day EMA. The pair could then rise to the psychological level of $100,000.
Ether price prediction
Ether (ETH)'s recovery faces a sell-off near $3,000, but a positive sign is that the bulls haven’t lost much ground to the bears.
This suggests that the recovery rally could reach the 20-day EMA ($3,120) after which the breakout level at $3,350. If the value breaks away from the upper resistance zone, the bears will try to sink the ETH/USDT pair below $2,623. In this case, Ether price could collapse to $2,400.
Buyers have to push and hold the value above the 50-day easy moving average ($3,596) to signal that the downtrend could also be over.
XRP price prediction
XRP (XRP) recovery is facing a sell-off on the 20-day EMA ($2.20), but bulls have kept the pressure on.
If the value closes above the 20-day EMA, it can suggest that the XRP/USDT pair could extend its stay inside the descending channel pattern for a while. A possible trend reversal shall be signaled when buyers push the XRP price above the descending trend line.
However, if the value diverges sharply from the 20-day EMA, the bears will try to push the pair below the support line. If they succeed, XRP price could decline to key support at $1.61.
BNB price prediction
BNB (BNB) witnessed a tricky battle between buyers and sellers on the breakout level of $860.
If the value moves lower from the present level or the 20-day EMA ($911), it can signal that bears proceed to sell on rallies. This increases the danger of a break below $790 and opens the door for a decline to $730.
If BNB price as an alternative rises and breaks above the 20-day EMA, it can indicate that the market has rejected the break below the $860 level. The BNB/USDT pair could then rise to the 50-day SMA ($1,034).
Solana price prediction
Solana (SOL) faces selling near the 20-day EMA ($144), suggesting bears remain energetic at higher levels.
Sellers will try to push Solana price below the $126 support. If they succeed, the SOL/USDT pair could crash to $110 after which to $95. Buyers are expected to vigorously defend the $95 support.
On the best way up, bulls have to clear the 20-day EMA hurdle to realize the upper hand. The pair could then rise to the 50-day SMA ($170), where bears are expected to pose a major challenge.
Dogecoin price prediction
Dogecoin (DOGE) bounce from the $0.14 support is facing resistance on the 20-day EMA ($0.16), suggesting bears are attempting to remain on top of things.
If the value drops sharply from the 20-day EMA, the danger of a break below the $0.14 support increases. Dogecoin price could then fall to the October 10 low of $0.10, which could attract buyers.
In contrast, a break and shut above the 20-day EMA suggests that bears are losing control. The DOGE/USDT pair could then rise to the 50-day SMA ($0.18), suggesting that the value could remain within the wide selection between $0.14 and $0.29 for some time.
Cardano price prediction
Cardano (ADA)’s shallow bounce from the $0.38 level suggests a scarcity of aggressive buying from bulls.
The bears will attempt to proceed the downtrend by pulling the value below the $0.38 level. If they succeed, the ADA/USDT pair could fall to the October 10 panic low of $0.27.
Buyers have a difficult task ahead of them. Any recovery attempt is anticipated to be met with selling on the $0.50 breakout level, but when bulls prevail, Cardano price could rise to the 50-day SMA ($0.58). A detailed above the 50-day SMA suggests the downtrend has ended.
Hyperliquid price prediction
Hyperliquid (HYPE) has recovered to the breakout level of $35.50, where the bears are expected to mount a robust defense.
If the value drops sharply from the present level, it can indicate that the bears have turned the $35.50 level into resistance. This increases the danger of a break below $29.30. The HYPE/USDT pair could then fall to $24.
Buyers have to push and sustain the Hyperliquid price above the 50-day SMA ($39.48) to signal a comeback. If they do, the pair could rise to $44 and eventually to $51.50.
Bitcoin Cash price prediction
Buyers are attempting to maintain Bitcoin Cash (BCH) above the resistance line, but bears proceed to use pressure.
If the value falls below the moving averages, it suggests that the break above the resistance line could have been a bull trap. The bears will then try to pull the BCH/USDT pair towards the solid support at $443.
On the opposite hand, a robust recovery within the moving averages signals that bulls are buying on downturns. This increases the opportunity of a break above the $568 level. Bitcoin Cash price could then rise to the $606 mark.
Chainlink price prediction
Chainlink (LINK) has risen near the 20-day EMA ($13.88), where bears are expected to pose a significant challenge.
If the value diverges from the 20-day EMA, the bears will try to pull the LINK/USDT pair to the solid support at $10.94. Buyers are expected to defend the $10.94 level with all their might as a break below could send the pair right down to $7.90.
Conversely, a break and shut above the 20-day EMA suggests selling pressure is easing. The pair could then rise to the 50-day SMA ($16.22). A detailed above the 50-day SMA suggests that Chainlink price could remain within the $10.94-$27 range for a while.
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.
