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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Some altcoins reached critical support levels, where it is expected that buyers would mount a vigorous defense.
BitcoinBTC( ) tried to recover on Friday but the higher levels were met with selling. This has pushed the price below $116,000, as traders on short term are trying to get out.
Stockmoney Lizards, an analyst at X said that BTC was experiencing a shake-up in both directions. The analyst is still bullish despite the correction. 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,” If it continues to follow its historic cycle pattern. He added, however, that there was a 50% chance that the cycles would change. Brandt anticipates counter-cyclicality. BTC to rally to as high as $185,000.
What critical levels of support and opposition should you be watching for on BTC, and other major altcoins. Find out more by looking at the charts of 10 top 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.
The bulls are likely to try to push BTC/USDT up to $126199, if they can force the price to rebound off of the 20-day EMA. If the price breaks above 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. This pair may then fall to the simple 50-day moving average (114,571). The Bitcoin price may stay within the $107,000 – $126199 range for some more time. Sellers take control if the price closes below $107,000.
Prediction of Ether prices
Ether is not pushed forward by bulls.ETHBears have been selling heavily since Wednesday, when prices rose above resistance.
Ether has fallen and is now firmly supported at $4,060. The $4,060 – $3,745 zone of support is expected to be defended with all the force that buyers can muster, as a fall below this level signals an possible short term top. This could lead to a new trend of the ETH/USDT towards $3350.
The price will only gain strength if buyers push it above the resistance. A close above the resistance of $4,750 is likely to increase upside 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%.
Bulls are likely to try and push the price up above the $1,350 overhead resistance if the price starts moving upwards. The BNB/USDT could continue the upward trend towards the target of $1.440, and then $1.642.
They will likely have different plans. It is likely that the bears have different plans. The BNB could fall to the 20 day EMA (1,123) where bulls will resume buying.
XRP price prediction
The XRP currency (XRPThe price of ) fell close to the support level at $2.69. This is an important area for bulls to protect.
If the pair XRP/USDT closes at or below $2.69 then it will have completed a downward channel pattern. The price could drop to as low as $2.33, and then to $2.20.
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 brought the price back below moving averages by Friday.
Solana’s price may drop below the line of support, a level that bulls must 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. This opens up the possibility of a drop to $175.
Dogecoin price prediction
DogecoinDOGE() is taking support near the 50-day SMA (0.24), but its failure to begin a strong bounce indicates a lack in demand at higher prices.
The bears are going to try and sink the price below the trendline, which should be watched closely. The ascending triangle is still intact if the price bounces off the trend line and breaks over the moving averages. It is possible that the DOGE/USDT may climb up to $0.27, and then to $0.29.
A break or close below the upward trend line invalidates a bullish setup. The Dogecoin may oscillate in price between $0.14 to $0.29 over the next few days.
Cardano price prediction
Cardano was pushed as a product by some buyersADA(above the moving averages, on Wednesday. But the bears did not give up.
Buyers are likely to take over the market when the sellers try to lower the price until it reaches the bottom of the pattern.
If the Cardano Price turns up and rises above the Moving Averages then it is a sign to buy on dips. 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
On Thursday, Hyperliquid (HYPE), fell from its 20-day EMA of $47.26 and below $43, signaling a negative mood.
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. It may trigger a decline to 35.50 then on to 32.
The price of Hyperliquid will need to be driven above moving averages by buyers to indicate a recovery. Buyers could accelerate the uptrend after pushing the price past the $51.87 level of resistance.
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. The corrective phase could be ending if they succeed. Chainlink’s price may rise up to $25.64 then $27.
In the short term, this positive outlook will be nullified if price breaks down below $11 and turns downwards. This could continue to keep the LINK/USDT pairs in the descending channel.
Sui price prediction
Sui (SUIThe price of ) was trading in a pattern known as a “falling wedge”, which would be a bullish set-up if it broke out upwards.
Bulls and bears are in an intense battle at the moving averages. SUI/USDT may reach the downward trend line, if the buyers continue to push prices above 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.
The bears may be trying to seize control if, however, the Sui price falls and breaks under $3.30. Sui’s price could then fall to support.
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
