Important points
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Bitcoin is expected to be defended by the bears at a critical overhead resistance.
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The recovery of several major altcoins is being attempted, and it’s likely that the price will be met by selling pressure.
BitcoinBTCThe bulls struggle to maintain the high levels. BTC is still on track to finish November with a negative balance. CoinGlass reports that BTC is on track to end November in the red. dataEvery month that BTC finished November in red was followed by one in negative December.
Some analysts see the current drop as an opportunity to buy. LVRG Research Director Nick Ruck said to Cointelegraph the recent drop has created a buying opportunity. wiped out overleveraged participants and unsustainable projectsThe new investors can now buy “ahead of a promising new year.”
Santiment, another crypto sentiment platform, also expressed positive views in an article published Wednesday. “uptick in declaration of crypto being in a bear market, and rise of bearish sentiment” It is an indication of bullishness. markets generally move opposite to the crowd’s expectations.
What are some of the key resistance levels that you should be watching for on BTC or major altcoins. Find out more by looking at the charts of 10 major cryptocurrencies.
Bitcoin price prediction
BTC has recovered to a level near its 20-day moving average (93,256 dollars), and the bulls will likely face strong resistance from the Bears.
Bears will try one last time to drag the BTC/USDT under the support range of $84,000 to $90,0000. They may be able to push the Bitcoin price down as low as $73,777.
If the bulls don’t cede much to the bears, from the 20 day EMA onwards, this suggests the buyers hold onto their positions. This increases the probability of a breakout above the 20 day EMA. They could soar to the psychologically significant level of $100,000.
Prediction of Ether prices
EtherETHThe bears are likely to sell heavily when the price reaches the 20-day EMA (3,109).
The ETH/USDT could fall to $2,623 if the price drops sharply below the 20-day EMA. The $2,623 level is expected to be fiercely defended by buyers, since a breach below this support could bring the Ether to $2400.
A close above the 20 day EMA indicates that selling pressure has decreased. The pair might climb as high as $3,350 before reaching the 50-day SMA.
XRP price prediction
The XRP currency (XRP) has been witnessing a tough battle between the buyers and sellers at the 20-day EMA ($2.20).
The 20-day EMA is flattening and RSI at the midpoint does not show a clear favor to either the bulls, or bears. The XRP/USDT could reach the downward trend line if the 50-day SMA is broken ($2.34).
If, on the other hand the price drops and falls below $2.14 it indicates that bulls are giving up. The XRP could drop to support, which will likely attract buyers.
BNB price prediction
BNBBNB) rose above the breakdown level of $860 on Monday and has reached the 20-day EMA ($910), indicating buying at lower levels.
Closes over the 20 day EMA indicate that the bears have lost their hold. BNB/USDT could rally up to the 50 day SMA ($1,019) which is a key level that the bears must defend.
If the price falls below $860 on the downside, this shows the bears are still in control. The risk is increased if the BNB price falls below $790. BNB could plummet down to $730.
Solana price prediction
Solana’s (SOL) relief rally has hit a wall at the 20-day EMA ($144) but the bulls have not ceded much ground to the bears.
This increases the chance of a breakout above the 20 day EMA. SOL/USDT could then rise to the SMA 50 days ($167), at which point the bears would try to halt any recovery. The pair can rally to $190 if the buyers manage to break through the barrier of the 50-day SMA.
Sellers need to keep the Solana prices below the support at $126 in order to remain in control. If sellers succeed in lowering the price below $126, they could eventually reach the support level of $95.
Dogecoin price prediction
Dogecoin’s (DOGE) relief rally is facing selling at the 20-day EMA ($0.16), indicating that the bears are active at higher levels.
Bears will try to lower the Dogecoin’s price under the strong support of $0.14. They could cause the DOGE/USDT to start a downtrend, and the pair may descend as low as $0.10 on October 10.
Alternatively, the breakout of the price above the moving-averages indicates that bulls are defending aggressively the $0.14 level. It is possible that the pair will rise up to $0.21. This would indicate the price could remain in the range of $0.14-$0.29.
Cardano price prediction
Cardano (ADA) is struggling to reach the 20-day EMA (0.47), indicating a lack of demand from the bulls.
Cardano will attempt to fall below $0.38 in order for the bears’ position to be strengthened. They could retest that panic low $0.27 from 10 October if the ADA/USDT pairs manages to fall below the level of $0.38.
The price will rise above $0.50 if the buyers are able to sustain the level. It is possible that the pair will rise up to the 50-day SMA level ($0.56), and then to $0.70.
Related: Crypto bull market signal: ERC-20 stablecoin supply preserves $185B record
Hyperliquid price prediction
The sellers are trying to stall Hyperliquid (HYPE’s) recovery near the 20-day EMA, but the bulls continue their pressure.
If the price moves above the 20 day EMA the HYPE/USDT pairs could reach the SMA of 50 days ($39.12). At the 50 day SMA the bears should mount a fierce defense, but the price of Hyperliquid could rise as high as $44 or even to $51.50 if bulls succeed.
In the short term, this bullish outlook will be nullified if price breaks down below $29.30 and turns downwards from moving averages. This opens up the possibility of a fall to the lows set on Oct. 10, $20.82.
Bitcoin Cash price prediction
Bitcoin Cash has been able to remain stable for buyers.BCH(above the resistance line) signals buying at dips.
The 20 day EMA ($523) is starting to move up and the RSI just above midpoint. Both indicate a slight edge for the buyers. Bulls must push the Bitcoin Cash to above $568 before they can start another uptrend to $580, and eventually to $606.
In contrast to this, if price moves down and falls below moving averages it means that market rejected breakout of falling wedge pattern. The bears then try to bring the BCH/USDT to $443, the crucial support level.
Chainlink price prediction
ChainlinkLINK) is facing selling near the 20-day EMA ($13.84) but a positive sign is that the bulls have not ceded much ground to the bears.
This increases the probability of a breakout above the 20 day EMA. The LINK/USDT could climb up to the 50 day SMA, which is $15.87. This would be a significant challenge for the bears. The large range between $10.94 and $27 comes into play if the 50-day SMA is broken above.
Other plans are possible for sellers. They’ll try to defend the EMA of 20 days and bring the Chainlink to solid support, which is $10.94.
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Source: cointelegraph.com
