The following are key points.
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Bitcoin saw a profit booking Tuesday but the slight pullback indicates that bulls do not expect the trend to stop, and are still optimistic.
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Altcoins are rebounding from support levels. Buying at lower levels is a good idea.
BitcoinBTCThe price of a () fell sharply Tuesday but bears were unable to lower it below $120,000. This indicates a strong demand for lower prices. Bulls are now pushing the price over $123,000. They will then attempt to break the $124,474 overhead barrier.
Analysts are bullish on BTC’s prospects in October, which has been the second-best-performing month on average since 2013, with an average gain of 20.75%, according to CoinGlass data. Timothy Peterson, an economist from X said that there is a 50% probability of BTC’s price going up. BTC finishing the month above $140,000.
The trend may still be up but traders must remain cautious. Failure to maintain and rise above $126,000 can trigger a new round of selling. If the next drop is too steep, $120,000 may be at risk. The analysts expect that this will happen. support in the range between $118,000 and $114,000.
BTC’s next move could pull altcoins up. We’ll find out when we analyze the charts of 10 top cryptocurrencies.
Bitcoin price prediction
BTC climbed to an all-time record of $126,199 on Mon, but the bulls couldn’t sustain higher levels.
BTC/USDT fell Tuesday below the $124,474 breakout level. The bulls are in control of the market because the exponential 20-day moving average (118,110), as well as the relative strength indicator (RSI), is positive.
Bitcoin’s price will rise above $126,199 as buyers try to restart the trend. The BTC/USDT may reach $138,154 if they succeed.
In the opposite case, if price falls further and the 20 day EMA is broken, then the market may have rejected the breakthrough above $124,474. It could drop down to the simple 50-day moving average (114,276).
Prediction of Ether prices
EtherETHThe price closed Monday above the resistance level, but on Tuesday the bears dragged it back down below that line.
The ETH/USDT is attempting support near the moving averages. This indicates that bulls want to maintain control. The bulls are going to make one final attempt at clearing the resistance line, and challenging the $4.957 all-time record.
If, on the other hand, the price falls below the moving-averages, this indicates that the bears may be trying to gain control. Ether’s price could then fall to $4,060, the support level, and buyers will likely step in.
BNB price prediction
BNBBNB( ) is in an uptrend that has been strong for several days. This indicates sustained bull buying.
The bulls expect that the price rally will continue. They are holding their positions despite the bears’ attempts to stop it at $1,350. BNB/USDT could reach $1,394 or $1,479.
To start a further correction, the bears need to lower the BNB to below the 61.8% Fibonacci retracement of $1.217. This will then lead to the 20 day EMA ($1,097). It is likely that buyers will defend the 20 day EMA as hard as they can because a move below this level indicates a weakened momentum.
XRP price prediction
The bulls have failed to maintain XRP on multiple occasions (XRP() Above the downtrendline in the past couple of days suggest the bears aggressively defend the level.
On Tuesday, the XRP rate dropped and fell below moving averages. The XRP/USDT pairs could be stuck in the bearish downward triangle for quite some time. They will then try to consolidate their position by lowering the price under the $2.69 level. The pair could start to move downwards towards $2.33 if they are successful.
In the short term, this negative outlook will be nullified if price rises and closes over the downward trend line. This could propel the pair up to $3.20, and then to $3.38.
Solana price prediction
Solana (SOLSince several days, the sand has slowly risen in an ascending pattern.
SOL/USDT may drop below support line if price drops under 50-day SMA (216). It is likely that buyers will defend the support level, because a price break below this line may trigger a move downwards to $191 then $175.
If, on the other hand, the price rises from its current level to the 20-day EMA (222), this signals buying at dips. Bulls then try to push Solana’s price up to the resistance level.
Dogecoin price prediction
DogecoinDOGEIt is now at $0.24, down from the previous day’s SMA of $0.27.
Bulls will attempt to drive the Dogecoin above $0.27, and then challenge the strong overhead resistance of $0.29. The DOGE/USDT could begin a new trend if buyers are able to overcome the $0.29 overhead resistance.
It is likely that sellers have different plans. The sellers will attempt to drag the price up to the upward trend line. This is an important level that the bulls must defend. This ascending triangular pattern could be wiped out if bears succeed and drag the price under the trendline. The pair could remain within the $0.14 to $0,29 range for quite some time.
Cardano price prediction
Cardano (ADAThe bulls were unable to sustain higher prices, as the price closed at $0.85 on Monday.
ADA/USDT fell under the 20-day EMA on Tuesday. The Cardano Price could stay in this descending triangle for several more days. The price could drop below $0.75 if the bears try to pull it down. This opens up the possibility of a drop to $0.68, and later to $0.60.
To invalidate the bullish setup, buyers will need to move the price up above the resistance level. It is possible that the pair will rally up to $0.95, and then on to $1.02.
Related: DOGE price gained 445% the last time this indicator flashed green
Hyperliquid price prediction
The Hyperliquid price (HYPE) fell from its 61.8% Fibonacci level at $51.87 to the lower end of the range on Sunday. It is clear that bears will be selling after rallies.
On the downside, $43 is the next level of support. Price spikes up from 43, which indicates lower demand. The pair HYPE/USDT could consolidate for some time between $43-$52.
Bulls will gain the advantage if the Hyperliquid price rises above $52. If the pair reaches $59.41, it could retest its all-time peak. If the pair breaks below $43, it could fall to as low as $39.68.
Chainlink price prediction
ChainlinkLINK) turned down from the resistance line on Tuesday and fell below the 20-day EMA ($22.31).
Bulls will not give up so easily and again attempt to push the Chainlink above the resistance level. The corrective phase could be ending if the bulls are able to achieve this. The LINK/USDT couple could move upwards to 25.64 then, later, $27.
If, on the other hand, the price breaks down below the $21.47 mark and turns downwards from the resistance level, this signals the continued control of the bears. This pair may then continue to trade within the channel.
Sui price prediction
Sui (SUIIn the last few days the line has been retraced, which indicates that bears have sold on rallies.
The flattish RSI and 20-day EMA (3.48 dollars) near midpoint are not a great advantage for either bulls or bears. If the Sui’s price falls and stays below the moving averages, it is most likely that the next step will be to test the support level.
It is more likely that the bulls have a strong comeback if price moves sharply up from its current level, and breaks through the downtrend. SUI/USDT could reach $4, and possibly $4.44 in the future.
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 a final decision.
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Source: cointelegraph.com
