Key points:
- Bitcoin’s rally through $79,500 opens the door to a move toward $84,000.
- Ether, Dogecoin, and Hyperliquid have shown strength but other altcoins still need to gain momentum.
Bitcoin (BTC) opened the new week with a rally above $80,500, suggesting the bulls are attempting to take charge. Analysts are closely watching the $80,000 level, as some believe a failure to close above it could trigger a move toward $60,000.
However, crypto analyst Matthew Hyland said in a post on X that traders calling BTC’s fall to $60,000 and lower ‘will be the ones flipping bullish late above $90K.”
BTC’s 30-day liquidation map shows that a rally above $84,000 would trigger $2.85 billion worth of short liquidations across all exchanges.
Daily view of crypto market data. Source: TradingView
A positive sign for the bulls is that BTC’s rise continues to be supported by institutional investors. Charles Edwards of Capriole Investments stated in a post by X, that “institutions have been slurping 500%+ Bitcoin’s daily supply.” These instances, in the past has boosted the price by over 24% the following month. If history repeats, BTC may surge to around $96,000.
Can BTC and major altcoins maintain the recent breakout? We’ll analyze charts for the 10 most popular cryptocurrencies.
S&P 500 Index price prediction
The S&P 500 Index (SPX) remains in a strong uptrend, rising to a new all-time high of 7,272 on Friday.
SPX daily chart. Source: Cointelegraph/TradingView
The upsloping 20-day exponential moving average (7,043) indicates an advantage to buyers, but the relative strength index (RSI) near the overbought zone signals that a minor consolidation or correction is possible in the near term.
The 7,000 level is the crucial support to watch out for on the downside. A solid bounce off the 7,000 level suggests that the bulls have flipped it into support. That improves the prospects of a rally to 7,500.
On the contrary, a close below the 7,000 support may sink the index to the 50-day simple moving average (6,827).
US Dollar Index price prediction
The US Dollar Index (DXY) has been stuck between the 50-day SMA (98.97) and the 97.74 support.
DXY daily chart. Source: Cointelegraph/TradingView
The downsloping 20-day EMA (98.61) and the RSI in the negative territory indicate that the bears are at a slight advantage. If the price breaks below the 97.74 support, the index may tumble toward the 96.21 level.
Conversely, a close above the 50-day SMA suggests that the bulls are on a comeback. The index may rally to the 100.54 resistance level, where buyers are expected to encounter solid selling pressure from bears.
Bitcoin price prediction
BTC has broken above the $79,500 resistance, signaling the resumption of the uptrend toward $84,000.
BTC/USDT chart for the day. Source: Cointelegraph/TradingView
The uptrend is expected to face solid selling pressure at $84,000, but if the bulls prevent the BTC price from dipping below the 20-day EMA ($76,634), the possibility of a breakout increases. If the $84,000 level is broken, the BTC/USDT pair may surge toward the pattern target of $92,000.
Time is running out for the bears. They will have to swiftly yank the price below $76,000 to weaken bullish momentum. The pair may then tumble to the 50-day SMA ($72,798).
Ether price prediction
Ether (ETH) rose above the 20-day EMA ($2,298) on Friday and is marching toward the $2,465 overhead resistance.
ETH/USDT daily chart. Source: Cointelegraph/TradingView
Sellers will attempt to stall the rally at the $2,465 level, but if the bulls prevail, the ETH/USDT pair may jump to the resistance line. If the ETH price turns down sharply from the resistance line and breaks below the 20-day EMA, it suggests the pair may remain within the channel for some time.
On the other hand, a break and close above the resistance line signals that the bulls are back in control. The pair may then surge toward the $3,050 level.
XRP price prediction
Buyers have pushed XRP (XRP) above the moving averages, opening the door to a rally toward the downtrend line.
XRP/USDT daily chart. Source: Cointelegraph/TradingView
The flattish moving averages and the RSI just above the midpoint do not give either bulls or bears a clear advantage. Buyers will gain the upper hand on a close above the $1.61 level. The XRP/USDT pair may then rally to $2, then to $2.40.
Contrary to this assumption, if the XRP price turns down from the $1.61 level, it would suggest that bears are active at higher levels. That may extend the pair’s stay inside the $1.27 to $1.61 range for a while.
BNB price prediction
BNB (BNB) has been trading near its moving averages over the past few days, indicating indecision between bulls and bears.
BNB/USDT daily chart. Source: Cointelegraph/TradingView
The flattish moving averages and the RSI just above the midpoint suggest that the BNB/USDT pair may remain inside the $570 to $687 range for a few more days.
The next trending move is expected to begin on a close above $687 or below $570. If bulls push the BNB price above the $687 resistance, the pair is expected to gain momentum and surge to $790. Alternatively, a close below $570 signals the resumption of the downtrend toward $500.
Solana price prediction
Solana (SOL) is attempting to rise above the moving averages, indicating demand at lower levels.
SOL/USDT daily chart. Source: Cointelegraph/TradingView
A close above the moving averages may push the SOL price to the $90.73 resistance. Sellers will attempt to defend the $90.73 level, but if the bulls prevail, the SOL/USDT pair may surge to $98.
On the downside, the bears will need to push the price below $82.65 to gain the upper hand. If they do that, the pair may descend to the solid support at $76. The next trending move is expected to begin on a close above $98 or below $76.
Related: BTC price can ‘easily’ hit $95K: Five things to know in Bitcoin this week
Dogecoin price prediction
Dogecoin (DOGE) has broken above the $0.11 resistance level, clearing the path for a rally toward $0.12.
DOGE/USDT daily chart. Source: Cointelegraph/TradingView
The 20-day EMA ($0.10) has started to turn up, and the RSI is in the overbought zone, indicating that the buyers have the edge. Sellers are expected to mount a strong defense at the $0.12 level, but if buyers bulldoze through, the rally may reach $0.14 and eventually $0.16.
Instead, if the DOGE price turns down sharply from $0.12 and breaks below the moving averages, it suggests that the bears remain sellers on rallies. That may keep the DOGE/USDT pair within the $0.09-$0.12 range for a few more days.
Hyperliquid price prediction
Hyperliquid (HYPE) is maintaining above the 20-day EMA ($41.04), but the long wick on the candlestick shows selling at higher levels.
HYPE/USDT daily chart. Source: Cointelegraph/TradingView
The uptrend is expected to face selling pressure in the $43.76 to $45.77 resistance zone. If the HYPE price turns down from the current level or the overhead zone and breaks below the 50-day SMA ($40.11), the advantage will tilt toward the bears. The HYPE/USDT pair may then tumble to $38.70.
Contrarily, a break and close above the overhead zone signals the resumption of the uptrend. The pair may surge to $50 and then to $51.43.
Cardano price prediction
Cardano (ADA) has risen above the downtrend line, but the bulls are facing stiff resistance at the 50-day SMA ($0.25).
ADA/USDT chart for the day. Source: Cointelegraph/TradingView
The RSI has risen just above the midpoint, signaling a slight advantage to the bulls. The ADA/USDT may rise to $0.29 and then $0.31 if buyers are able to push the price over the 50-day SMA. At the $0.31 price level, sellers are expected to again pose a challenge. A close above this point suggests the pair could have reached a bottom in the short-term.
Watch out for the crucial support at $0.22. The ADA price turning down, and breaking below the $0.22 level of support signals a resumption in the downward trend.
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Source: cointelegraph.com
