Key points:
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Bitcoin spot selling keeps a retest of $60,000 open as a short-term final result.
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Several major altcoins are vulnerable to continuing the downtrend, indicating a negative investor outlook.
Bitcoin (BTC) got here under renewed pressure, falling below $66,000 within the early hours of the US trading session. According to Kaiko Research, a 52% decline from the all-time high was “unusually flat,” and a 60% to 68% decline was more in keeping with previous bear market cycles. This suggests that BTC could bottom out between $40,000 and $50,000.
According to a brand new study from Grayscale, BTC appears to have abandoned its “digital gold” narrative and is behaving more like a dangerous growth stock. Author Zach Pandl said that BTC, especially since 2024, is extremely correlated with software stocks and never gold. The report added that this shows deeper integration into traditional financial markets, which is a component of BTC's ongoing development.
Daily view of crypto market data. Source: TradingView
A small positive for the bulls is that BTC spot exchange-traded funds have seen inflows for the last three consecutive days, in response to data from Farside Investors. This suggests that institutional investors are accumulating holdings at lower levels.
Could BTC and the foremost altcoins proceed their downward trend? To discover, let's analyze the charts of the highest 10 cryptocurrencies.
Bitcoin price prediction
BTC price fell from $72,271 on Sunday, suggesting that higher levels proceed to prompt selling from bears.
BTC/USDT every day chart. Source: Cointelegraph/TradingView
If Bitcoin price stays below $67,300, the BTC/USDT pair could slide to $62,345 after which to $60,000. Buyers are expected to defend the $60,000 level with all their might as an in depth below could send the pair all the way down to $52,500.
Buyers probably produce other plans. They will try and quickly push the worth above the resistance at $72,271. If they do, the pair could rise to the 20-day exponential moving average ($76,275). Buyers need to interrupt the 20-day EMA to initiate a sustained recovery towards the 50-day easy moving average ($85,832). Such a move suggests that the pair could have bottomed out within the near future.
Ether price prediction
Ether (ETH) turned lower from $2,111, suggesting that bears are fiercely defending this level.
ETH/USDT every day chart. Source: Cointelegraph/TradingView
The ETH/USDT pair could slide towards the crucial support at $1,750, where buyers are expected to intervene. A solid rebound from the $1,750 level could form a variety within the short term.
If sellers as a substitute push Ether price below $1,750, the subsequent stop could possibly be $1,537. The first sign of strength will likely be an in depth above $2,111. The pair could then rise to the 20-day EMA ($2,364). This is a critical level that the bears must defend as an in depth above could push the pair to the 50-day SMA ($2,838).
BNB price prediction
Bulls' failure to push BNB (BNB) above the 50% retracement level at $676 has initiated a pullback towards $570.
BNB/USDT every day chart. Source: Cointelegraph/TradingView
The bulls are expected to mount a powerful defense on the $570 level, but when the bears prevail, the BNB/USDT pair could proceed its downtrend and fall towards the psychological support at $500.
In contrast, a rise in BNB price from the present level of $570 suggests that demand is at a lower level. The bulls will then try and push the pair above $669. If they succeed, the pair could rise to the 20-day EMA ($730).
XRP price prediction
Buyers held XRP (XRP) above the support line of the descending channel pattern but did not initiate a powerful upswing.
XRP/USDT every day chart. Source: Cointelegraph/TradingView
This increases the probability of a fall below the support line. If that happens, the XRP/USDT pair could test the $1.11 level again. If the $1.11 level weakens, the pair could plunge to $1 after which to $0.75.
Buyers must push XRP price above $1.61 to signal that selling pressure is easing. The pair could then march towards the 50-day SMA ($1.85) and later towards the descending trend line.
Solana price prediction
Solana (SOL)’s recovery rally stalled just under the $95 breakout level, suggesting that bears are attempting to convert the extent into resistance.
SOL/USDT every day chart. Source: Cointelegraph/TradingView
There is a minor support at $77, but when this level is broken, the SOL/USDT pair could plummet to the $67 level. Buyers are expected to aggressively defend the $67 level as a break below could extend the decline to $50.
The first sign of strength will likely be a break and shut above the 20-day EMA ($100). This suggests that markets have rejected a break below $95. Solana price could then rise to the 50-day SMA ($121).
Dogecoin price prediction
Dogecoin (DOGE) has turned down from the psychological level of $0.10, suggesting that the bears are attempting to convert the extent into resistance.
DOGE/USDT every day chart. Source: Cointelegraph/TradingView
The DOGE/USDT pair could fall to the $0.08 level, which is more likely to attract buyers. If Dogecoin price rises and breaks above the 20-day EMA, it’ll indicate that the bearish momentum is weakening. The pair could then jump towards the breakout level of $0.12.
Alternatively, if the worth continues to say no and falls below $0.08, it’ll signal the resumption of the downtrend. The pair could then crash to $0.06.
Bitcoin Cash price prediction
Bitcoin Cash (BCH) continues to face strong resistance on the 20-day EMA ($540), but a small positive point is that the bulls haven’t lost much ground to the bears.
BCH/USDT every day chart. Source: Cointelegraph/TradingView
If the worth rises from the present level and breaks above the 20-day EMA, it’ll suggest that the $443 level acts as a solid floor. The BCH/USDT pair could then rise to the 50-day SMA ($583).
On the contrary, if the worth of Bitcoin Cash continues to say no and slips below $497, it’ll signal that the bears are attempting to remain on top of things. The pair could then decline to $467 and eventually to the important thing support at $443.
Hyperliquid price prediction
Hyperliquid (HYPE) continued to say no on Tuesday and fell below the 20-day EMA ($29.95), suggesting that bulls have given up.
HYPE/USDT every day chart. Source: Cointelegraph/TradingView
The 20-day EMA is flattening and the RSI is just under the center, suggesting a possible short-term move throughout the range. The HYPE/USDT pair could fluctuate between $35.50 and $20.82 for a couple of days.
Buyers must push and hold the hyperliquid price above the $35.50 level to signal the beginning of a brand new bullish move. On the opposite hand, an in depth below the $20.82 support could extend the decline to $17.
Cardano price prediction
Cardano (ADA) is regularly sliding towards the support line of the descending channel pattern, suggesting that the bears proceed to use pressure.
ADA/USDT every day chart. Source: Cointelegraph/TradingView
Sellers will try and push the worth below the support line and Friday’s low of $0.22. If they succeed, the ADA/USDT pair could proceed the downtrend. The next support on the downside is at $0.20 after which at $0.15.
Bulls must push Cardano price above the 20-day EMA ($0.29) to maintain the pair throughout the channel for even longer. If the worth closes above the downtrend line, buyers will likely be in charge again.
Monero price prediction
Monero (XMR) has reached the 38.2% Fibonacci retracement level of $361, where the bears are posing a significant challenge.
XMR/USDT every day chart. Source: Cointelegraph/TradingView
If the Monero price declines and breaks below $309, it’ll indicate that the bears are still in charge. The XMR/USDT pair could then fall to the $291-$276 support zone.
On the opposite hand, if the worth rises from the present level or support zone and breaks above $361, the subsequent stop is more likely to be the 20-day EMA ($394). Sellers will again attempt to stop the recovery on the 20-day EMA, but when buyers break the resistance, the pair could head towards the 50-day SMA ($464).
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