The following are key points.
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Bitcoin’s price has fallen below $116,000 but analysts predict that it will rise again if buyers step in lower.
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Certain altcoins are at critical levels of support where buyers will be expected to take a stand.
BitcoinBTC( ) tried to recover on Friday but the higher levels attracted sellers. This has pushed the price below $116,000, as traders on short term are trying to get out.
Stockmoney Lizards stated in an X message that BTC has been experiencing a shakeout both in the upward and downward direction. Although the analyst expects a correction to occur, he remains optimistic. BTC to find support around $118,000 to $119,000.
Peter Brandt is a long-time trader who told Cointelegraph “BTC could hit a bull market high any day now,” It will follow the pattern of its previous cycles. He added, however, that there was a 50% chance that the cycles would change. Brandt is expecting counter-cyclicality. BTC to rally to as high as $185,000.
What is the key support and resistance level to be aware of in BTC? We’ll find out by analyzing the charts for the 10 most popular cryptocurrencies.
Bitcoin price prediction
BTC fell below the exponential moving average of 20 days ($118.807). It is an important support in the short-term for bulls.
Bulls may attempt to drive the BTC/USDT to its all-time-high of $126,199 if the price rebounds with force off the 20 day EMA. If the price breaks above the resistance, it could open up the road for a rally to $141,948.
A close below the 20 day EMA indicates that bulls have lost their hold. It is possible that the pair will then drop to its 50-day simple average ($114.571). This means that the Bitcoin rate could stay in the range of $107,000 – $126199 for some time. Sellers take control if the price closes below $107,000.
Price prediction for Ether
Ether’s failure to be pushed (ETHBears have been selling heavily since Wednesday, when prices rose above resistance.
Ether has fallen and is now firmly supported at $4,060. It is likely that the buyers will defend with their lives this $4,060-to $3,745 range of support because any drop below signals a potential short-term peak. This could lead to a new trend of the ETH/USDT towards $3350.
To gain momentum, buyers will need to move the price over the resistance line. A close above the resistance of $4,750 is expected to increase upward momentum.
BNB price prediction
BNBBNB( ) is pulling back from a rally that was strong, but it finds support at the Fibonacci level of 1,217, which represents 61.8%.
The bulls would like to see the price rise above $1,350, which is the resistance level. The BNB/USDT could continue the upward trend towards the target of $1.440, and then $1.642.
Bears will probably have other ideas. The bears will likely have other plans. They’ll sell rallies to lower the price. The BNB could fall to the 20 day EMA (1,123) where bulls will resume buying.
XRP price prediction
It is a cryptocurrency that allows you to buy and sell XRP.XRPThe price of ) fell close to the support line at $2.69. This is an important level to be defended by the bulls.
If the pair XRP/USDT closes at or below $2.69 then it will have completed a downward channel pattern. This could lead to a rapid drop in the price of XRP, which would eventually push it down to $2.33.
The buyers must push the price and maintain it above the line of the downtrend to stop the decline. Failure of a pattern that is bearish can be a positive sign, as this traps aggressive bears and results in a squeeze.
Solana price prediction
Solana (SOLThe price of jumped off the SMA 50 days ($217), on Wednesday. However, the bulls pushed the price back below moving averages by Friday.
Solana could fall to the important support level, which the bulls will defend. The price could rise from the line of support and break above the moving averages. This would indicate that the SOL/USDT pairs may remain in the ascending pattern.
A break below the line of support indicates that bulls are giving up. It opens the door to a decline down to $175.
Dogecoin price prediction
DogecoinDOGEThe 50-day SMA is a good support for the. However, the lack of a bounce at higher levels indicates that demand has not been strong.
Bears try to lower the price down to the upward trend line. This is an important support that you should keep your eye on. The ascending triangle is still intact if the price bounces off the trend line and breaks over the moving averages. This pair of DOGE/USDT could then rise to $0.27 or even $0.29.
A break or close below the upward trend line invalidates a bullish setup. This suggests that Dogecoin’s price could continue to fluctuate between $0.14-$0.29 for several more days.
Cardano price prediction
Cardano is being pushed by buyersADAThe bears were able to hold their position despite the fact that the market closed Wednesday’s session above moving averages.
The sellers will attempt to push the price down to the line support of the channel pattern. This is where buyers should step in.
If, on the other hand, the Cardano rate turns upwards from its current level, and then breaks through the moving averages it indicates buying at a dip. It increases the likelihood of an upward move above the resistance level. The ADA/USDT could then start a move upwards to $0.95, and eventually to $1.02.
Related: XRP whales dump $50M per day: Will it crash the price?
Hyperliquid price prediction
Thursday, the Hyperliquid price (HYPE) fell below its $43 resistance and the 20-day EMA. This indicates a negative market sentiment.
If the pair HYPE/USDT continues to trade below the $43 level, it could fall as low as $39.68. A close below this critical level will result in a negative head-and-shoulders chart. This could start a move downwards to $35.50, and then down to $32.
The price of Hyperliquid will have to be driven above the moving-averages for a recovery to occur. After buyers push the price over the $51.87 barrier, the upward momentum may pick up.
Chainlink price prediction
ChainlinkLINKThe bears may have gained some ground, but the bulls still hold a majority of the market.
Bulls will try to break the barrier again. This would indicate that they have completed the correction phase. Chainlink’s price may rise up to $25.64 then $27.
If the price drops and falls below $21, this view is invalidated. The LINK/USDT could remain in this channel until further notice.
Sui price prediction
Sui (SUI( ) is trading within a falling wedge, which can be considered bullish if it breaks out to the upside.
Bulls and bears are in an intense battle at the moving averages. The SUI/USDT could reach the downward trend line if buyers maintain and push the price higher than the moving averages. Expect sellers to vigorously defend the trendline because it is a key to a rally up to $4.44, and even $4.44.
If, on the other hand, the price drops and falls below $3.30 it indicates that the bears want to gain control. Sui’s price could then fall to support.
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Source: cointelegraph.com
