Important points
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Bitcoin experienced a strong return on Wednesday. However, buyers can expect to be hit with heavy sales near $117.500.
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BNB, AVAX and other major altcoins may see their trend resume.
BitcoinBTCThe bulls continued to buy dips as the price of BTC rose over $113,000. Michael Saylor of Strategy, executive chairman at CNBC said consistent BTC buying on behalf of institutions and corporate BTC adoption could restart the cryptocurrency’s rally. BTC rally toward the end of the year.
Glassnode said that in its report for the week that BTC may reach a new high but that it is unlikely. cycle is in its late phase. BTC’s current cycle shows similarities with the 2015–2018 and 2018–2022 bull runs, where all-time highs “occurred only 2–3 months beyond where we currently stand when measured from the cycle low.”
But not all are bullish about BTC’s future. CryptoQuant’s head of research Julio Moreno stated in a blog post on X, that whales have net sold 147,000 BTC Since Aug. 21, The total number of whales has increased. “declining at the fastest monthly rate of the cycle.”
Can BTC rise above the selling of bears to reach $117,500 in a short time? Altcoins will follow BTC to higher levels? Find out by analyzing the charts for the 10 most popular cryptocurrencies.
Bitcoin price prediction
BTC started a recovery rally that is likely to be met with strong selling on the moving averages.
The possibility that the price will drop below $107,000 is increased if the price drops sharply in relation to the moving averages. It is expected that buyers will defend $107,000 with their lives because breaking below that level will result in a negative double-top pattern. The price may then begin to decline, possibly to $100,000 or even to the target pattern of $89-526.
If buyers break through the moving averages then the BTC/USDT could rise to $117.500. The sellers may be very strong at $117.500 but, if they are beaten by the bulls, Bitcoin could rise to $120,000.
Price prediction for Ether
Ether prices are being maintained by buyers.ETHThe price of the stock is expected to drop sharply on any relief rally.
The chances of a breakdown below $4,060 are increased if the price moves down and turns from the 20 day EMA ($4,393). In that case, the pair ETH/USDT may fall as low as $3,745 or even lower, to its pattern target of $3 426.
It is more likely that a price range will form if it turns up, and then breaks over the 20-day EMA. Ether could fluctuate in price between $4.060 and $4.957 for a while.
XRP price prediction
The XRP currency (XRPThe price of ) was trading in a downward triangle. This is a typical topping pattern.
To complete the bearish set-up, the bears must pull the price down below $2.69. The selling may increase and the pair XRP/USDT could fall to $2.20.
To stop the decline, buyers will have to drive the XRP prices above the line of the downtrend. The bearish setup will be invalidated, and the rally towards $3.40 can begin.
BNB price prediction
BNBBNB) bounced off the 20-day EMA ($957) on Tuesday, indicating that the sentiment remains positive and traders are buying on dips.
If they succeed, the BNB/USDT pair could start the next leg of the uptrend towards $1,187. The BNB/USDT could begin the next leg in the upward trend towards $1,187 if they are successful.
If, on the other hand, the price breaks down below the 20 day EMA and turns downwards from its current level, or the resistance overhead, this suggests the bears have been selling during rallies. It increases the likelihood of the price dropping to the SMA 50 days ($882).
Solana price prediction
Solana (SOLThe 50-day SMA (206 dollars) is the target for the bulls to stop the decline.
Sellers will not give up, and they’ll try to lower the price to the 50-day SMA. The SOL/USDT could fall to $185, and eventually to $175 if they succeed. The Solana could stay within the huge $110 to $250 range for some more time.
A break above and a close over the 20-day EMA indicate solid buying during dips. Bulls then attempt to push the price up to $260 where bears should mount a solid defense.
Dogecoin price prediction
DogecoinDOGEThe 50-day SMA is a strong support for the bulls.
It is likely that the relief rally will face selling near the EMA (20-day) ($0.25). Price turning down quickly from 20-day EMA will increase the probability of a fall to $0.21. The DOGE/USDT could remain in the range of $0.14 to $0,29 for quite some time.
A break above the 20 day EMA, however, shows that there is demand for lower prices. They will attempt to get the Dogecoin value to $0.29. It is important that the bears defend this crucial level, because breaking above it will open the way for an upswing to $0.35 then $0.44.
Cardano price prediction
Cardano is currently trading at $0.78. Buyers have been trying to hold onto the support.ADAThe relief rallies will likely be marketed.
The bears are going to try one last time to bring the ADA/USDT down below $0.78 if they can. Cardano’s price may fall to $0.68 if they succeed.
It is likely that buyers have plans of their own. The aggressive bears will be trapped by the buyers who try to force the price into the triangle. It is predicted that the upward movement will gain momentum once it crosses above resistance. The rally could reach $1.02.
Related: XRP price prepares for ‘major trend shift’ with $4 in reach: Analyst
Hyperliquid price prediction
On Tuesday, Hyperliquid (HYPE), plunged beneath the upward trend line. This indicates that bulls have fled the market.
The 20-day EMA (50.67 USD) is starting to decline, while the RSI has reached a level near 41, indicating the HYPE/USDT may have topped in the short term. Sellers are going to try and stop any attempt of recovery at the 20 day EMA. They could then see the Hyperliquid’s price drop from $40 to $35 and even lower.
The bulls will invalidate this view in the near-term if they push the pair to stay above the 20 Day EMA. This pair could then test the high of $59.
Chainlink price prediction
Chainlink buyers have successfully protected the upward trend line (LINK( but struggle to get a good bounce from it.
Moving averages completed a crossover in a bearish direction, while the RSI has entered the negative range, signaling favourable conditions for the bears. A recovery will likely be met with selling near the 20-day EMA (currently $23.11). Price turning downwards from the 20-day EMA, and breaking the uptrendline below it, indicates that the bears will be back on the field. The LINK/USDT could then drop down to $18.
To gain an advantage, buyers will need to push the Chainlink above the downward trend line. This pair could then rise towards the $27 resistance.
Avalanche price prediction
Avalanche (AVAXThe 20-day EMA (30.71) was broken on Monday but bulls failed to clear the hurdle of $36.17.
The bulls have won a minor victory by not giving up much to the bears. The 20-day EMA is upsloping and the RSI is in overbought, indicating that the upward path will be the easiest. The AVAX/USDT could reach the pattern goal of $45. If buyers maintain and push the price over $36.17.
A break-down and close under the 20 day EMA will indicate weakness. It suggests that short-term investors are booking profits. AVAX’s price may then fall to $27.38.
The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making their final choice.
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Source: cointelegraph.com
