Important points
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Bitcoin will reverse its direction if the price closes under $107,000.
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A number of altcoins are now below the immediate support level, paving the way for further decline.
Bitcoin’s performance has been disappointing since October.BTC( has been unable to alter course. BTC began the new month on a downward trend, dropping below the key support of $107,000. The bears appear to be trying to gain control.
You can also find out more about the following: demand from institutional investors has slowed downFarside Investors data shows that BTC exchange traded funds lost $799m in the last week.
Charles Edwards, founder of Capriole Investments, said on X in a blog post that institutional buying had dipped The daily supply was down for the first seven-month period.
BTC’s record of bulls has been a minor source of optimism. average gain of 42.34% in NovemberCoinGlass has data that shows this. But traders shouldn’t rely on that historical number, since BTC closed the month of November with a negative balance on four separate occasions. The markets are therefore susceptible to any swing.
BTC could extend its fall, causing altcoins to drop. Find out what the chart of top 10 crypto currencies says.
S&P 500 Index price prediction
The S&P 500 Index (SPX) remains in an uptrend; however, the negative divergence on the relative strength index (RSI) suggests that the bullish momentum may be weakening.
To signal strength, sellers will need to lower the price of the index below the simple 50-day moving average (6647). They could then start an even deeper correction that would take the index to 6,550, and eventually 6,400.
Other plans are most likely in the minds of buyers. The buyers will attempt to push the index over 6,920 and defend the 20 day exponential moving average. In that case, it is possible for the index to rally towards the 7,000-level.
US Dollar Index price prediction
On Wednesday, the US Dollar Index bounced from its 20-day EMA of 98.92 to signal a more positive mood.
The index may rally up to 100.50. This is where it’s expected that the bears will mount a vigorous defense. The likelihood that the index will rally towards the 102 resistance is increased if buyers don’t allow it to fall below the 20 day EMA.
A break-down and close under the 20 day EMA will signal weakness. The bears may be active in higher levels. This index may then drop down to the SMA of 50 days (98.24).
Bitcoin price prediction
BTC plunged sharply below $107,000 on Monday, after a steep decline from the 20 day EMA.
Close below $107,000 will finish a double top pattern and signal the beginning of the corrective phase. BTC/USDT could drop to $100,000, a psychologically important level. It is likely that buyers will defend $100,000 with their lives, because a move below may indicate the start of another downtrend.
It will take the bulls pushing the price over the moving averages before the bears lose their hold. After buyers pushed the Bitcoin price over $118,000., upward momentum may pick up.
Prediction of Ether prices
EtherETH) turned down from the 20-day EMA ($3,937) and broke below the support line of the descending channel pattern on Monday.
If the RSI is below 37 and moving averages show a downward slope, then the bears have the advantage. The ETH/USDT could fall to the $3.435-$3.350 zone if the price falls below the resistance line.
In the short term, this negative outlook will be nullified if Ether prices rise sharply and break above moving averages. The markets are rejecting the breakout below the channel. If the pair climbs to the resistance of the channel, it could reach the next level.
XRP price prediction
Buyers pushed XRP to the limit (XRP) above the 20-day EMA ($2.52), but the sellers held their ground.
Bears are likely to try to push the pair XRP/USDT to $2.20. This is an important level for short-term trading. If $2.20 is no longer a support, the XRP rate could fall to $2 then down to $1.80.
The 20-day EMA ($2.69) and the 50-day SMA will be the selling points for any recovery attempts. To indicate that a trend may be changing, the bulls need to push the price over the downtrendline.
BNB price prediction
BNBBNBOn Sunday, the price of ) fell below its 50-day SMA (1 092) and on Monday the sale intensified.
The moving averages will soon complete a crossover in the direction of the bears, while the RSI has entered the negative zone, signaling the return of the bears. The support of $1,021 has broken down, opening the way for a fall to $932 before reaching the intraday high on Oct. 10, $860. A move like this suggests that BNB/USDT has reached its top in the near-term.
Bulls, time is shortening. To signal their strength, they will need to push BNB back up above the 20 day EMA.
Solana price prediction
Solana (SOLThe ) broke lower and below the trendline of the triangle pattern symmetrical on Monday. It was a sign that the market had settled in the favor of bears.
SOL/USDT could fall to the solid support of $155. If the pair rebounds from $155 it is expected to encounter selling pressure at the 20 day EMA ($190). In that case, Solana’s price may drop down to $137.
If the price increases from its current level of $155, this indicates that demand is at a lower level. Bulls then attempt to drive the price higher than the 20-day EMA. The pair may rise above the resistance line if they are successful.
Related: Here’s what happened in crypto today
Dogecoin price prediction
DogecoinDOGEThe price of remained stuck between $0.14 and $0,29 in the same range for several days.
This pair of DOGE/USDT is predicted to drop to a solid $0.14 level that is expected to draw buyers. The range bound action could continue for a while if the price bounces off of the $0.14 support level and moves above the moving averages.
The sellers will likely have different plans. The sellers will try to lower the Dogecoin value below the support of $0.14 and continue the downward trend. The pair may fall to as low as $0.10.
Cardano price prediction
Cardano was a popular product that buyers tried to keep (ADAThe bears continued to sell on Monday, however.
Bears are attempting to bring the ADA/USDT to a crucial level of support, $0.50. It is likely that buyers will defend this level with vigor, because a move below would lead to a drop to $0.40.
Bulls need to push the Cardano Price above the 20 day EMA ($0.64) in order to get stronger. It is possible that the pair will rally up to $0.75 where bears may step in.
Hyperliquid price prediction
On Sunday, Hyperliquid (HYPE), fell below the 20 day EMA ($42.73), indicating the bears are continuing to exert their pressure.
The pair HYPE/USDT has fallen to its neckline, and the drop could continue to $35.50. The $35.50 support level is expected to be aggressively protected by buyers, since a breach below this could speed up the selling. Hyperliquid could fall below $35.50 to then drop to just $28.
It is more important to look at the demand levels if there’s a sharp rise in the price from $35.50 and if it breaks over the 20 day EMA. It could swing from $35.50 up to $52 over a period of a few weeks.
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
