Bitcoin Might Test $104,500 Before Hitting New Price Highs

Important points

• Bitcoin’s price is nearing $109,000. However, the small pullback in the market suggests that it may be on the rise again.

• BNB & HYPE have shown strength by breaking through their initial resistance levels.

BitcoinBTCThe week began on a softer note with bears trying their best to push the price of below $107,000. Bitcoin is still on course for an positive monthly close in June As long as the price stays over $104,600. CoinGlass’ data indicates that this would be only the second instance since 2020 when Bitcoin closed the month of June with a profit.

Investors have continued to buy Bitcoin despite the failure of Bitcoin to surpass its all-time record high. CoinShares data shows $2.2 billion in inflows Bitcoin-based exchange traded products were launched last week.

Bitcoin Treasury companies also continued to purchase Bitcoin. Michael Saylor’s Strategy revealed the acquisition of 4,980 Bitcoin It is the 11th consecutive week that it has purchased Bitcoins at an average of $106,801. Metaplanet’s CEO Simon Gerovich stated in a blog post published on X, that Bitcoin was the most popular cryptocurrency. firm bought 1,005 Bitcoin The average price is $107,601.

Can Bitcoin hold above the $106,000 level, or will the bears bring the price lower? How will altcoins behave in the future? We can find out by analyzing the charts for the 10 most popular cryptocurrencies.

S&P 500 Index price prediction

The S&P 500 Index bounced off the 20-day exponential moving average (6,029) on June 23, indicating a positive sentiment.

Bulls bought at higher prices, pushing Friday’s price to the highest level ever reached. If the price stays above 6,147 the index might rally towards 6,500.

The sellers will likely have a different plan. The sellers will attempt to bring the price down below 6,147 in order to trap the bulls. It is possible that the index will then drop to its 20-day EMA. If the index bounces off of the 20 day EMA, it increases the chances that the trend will continue. 

A break below the 20 day EMA and a close under it suggests that the bulls are reserving their profits. This could push the price to the simple 50-day moving average of 5,827.

US Dollar Index price prediction

The US Dollar Index DXY broke through and closed under the 97.92 level on Wednesday. It is clear that the bears are now in control.

Bears in charge: Both moving averages slope down and the RSI hovers near oversold territory. The bulls won’t give up and are likely to try pushing the price higher than the breakdown level at 97.92. They could then rally the index to its 50-day SMA (90.28) if that is possible.

If, on the other hand, the price falls from the 97.92 level, this could mean that the bears turned the resistance into a support. The price could then resume its downward movement, pulling it toward 95.

Bitcoin price prediction

Bitcoin faces selling near the downward trend line. However, the fact that bulls did not allow the price to fall below moving averages is a good sign.

The bulls don’t want to rush into taking profits because they are anticipating another rise. Moving averages that are upward-sloping and RSI readings in positive territory suggest the most likely path to take is up.

The BTC/USDT could reach the neckline for the head and shoulders pattern if the price rises above the downward trend line. The bears must defend this level because it is the first step in the return of an uptrend.

First, a breakdown below the moving-averages is a sign of weakness. In that case, the pair may fall as low as $104,500 before reaching the support of $100,000.

Prediction of Ether prices

Ether’s (ETHThe recovery faces selling at the 50-day SMA (2,534). This indicates that bears have been active on higher levels.

Both moving averages flattened, while the RSI was nearing the middle, indicating a potential range-bound trend in the near future. The ETH/USDT could drop to $2,323 if the price falls below $2,376. It is likely that buyers will defend $2,323 vigorously because breaking below the level may bring the pair as low as $2,111. 

To the upside, breaking above the SMA 50-days opens the door for a rally up to $2 738, and later $2 879. Breaking above or below 2,879 may start the next trending direction.

XRP price prediction

It is a cryptocurrency that allows you to buy and sell XRP.XRPThe price of, has been stuck in the range between $2.65 and $2.65 for several days. This indicates that it is best to buy near the support level and sell close to resistance.

Bulls try to move the price over the SMA 50 days ($2.25). They could try to push the pair XRP/USDT up towards the upper range of $2.65 if they succeed. Sellers will defend $2.65 with fierceness to try and keep the pair within its range.

It is possible that bears sell at every small rally if price drops from current levels. Sellers are going to try and strengthen their position by lowering the price under the $2 support. The pair could fall as low as $1.61 if they are successful.

BNB price prediction

BNBBNBThe descending channel pattern () was able to break above its resistance line on Sunday. It suggests the correction could be ending.

The 50-day SMA is a minor barrier, and the BNB/USDT could rise to $675, then $698, if the buyers don’t allow it to drop back down into the channel. 

The positive sentiment will soon be invalidated by a sharp drop in price and a break below $636. The markets are rejecting the breaking above the channel. If the pair drops to $625, it may continue down.

Solana price prediction

Solana (SOL) turned up from the $140 support on Friday and rose above the 20-day EMA ($148) on Saturday.

The buyers are trying to continue the rally of relief above the SMA 50 days ($158). They could then attempt to rally the SOL/USDT to $185. It is likely that sellers will aggressively defend $185 because breaking above the level opens up the road for a move to $220.

Bears will gain the upper hand if the pair falls below the support of $!40. After that, the pair could drop to $126, and then to $10.

Related: Ethereum risks 25% price drop as ‘massive whale’ moves $237M in ETH to exchanges

Dogecoin price prediction

DogecoinDOGE) has recovered to the 20-day EMA ($0.17), which is the first obstacle to watch out for. 

The DOGE/USDT pairs risks a breakdown below $0.14 if the price moves sharply down from the 20 day EMA. The selling may accelerate and cause the pair to fall as low as $0.10.

A break and a close above the 20 day EMA suggest that the pair could swing for some time between $0.14 to $0.21. After the buyers have pushed the pair over the $0.21 resistance, they will be able to gain more strength.

Cardano price prediction

Cardano (ADA) has risen close to the 20-day EMA ($0.59), which is likely to act as a stiff resistance.

If the price drops and the ADA/USDT pairs breaks down below $0.54 then the pair may fall towards the critical support of $0.50. It is expected that buyers will defend $0.50 with their lives because breaking below the level would create a downward triangle. This could start a move down to $0.40.

The pair can reach the SMA of 50 days ($0.67) if the buyers manage to drive the price over the 20-day EMA. After buyers push the pair over the downward trend line, a new trend will be indicated.

Hyperliquid price prediction

Hyperliquid’s (HYPE) break above $39.12 on Sunday indicates that the bulls will be back.

The HYPE/USDT couple could reach $42.50 before climbing to $45.80. It is expected that sellers will fiercely defend this $45.80 mark, but, if bulls win, they could push the pair up to the psychological $50 level.

On the downside, we have the 20 day EMA ($37.55), followed by the SMA 50 days ($34.76). The price will need to be pushed below the 50 day SMA in order to weaken bulls. This pair could then fall to $30.69.

This article contains no investment recommendations or advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making any kind of trading or investing decisions.