Important points
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Inflows of money into Bitcoin spot ETFs indicate that the bulls are in control and an all-time record rally is expected.
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BNB has led the altcoin recovery. Several altcoins have already broken above their resistance levels.
BitcoinBTC() rose to close to $123900, pushing it closer towards its all-time record of $124,474. BTC’s recovery was backed up by strong bull demand, with the US spot BTC ETFs recording a record. $2.25 billion in inflows According to Farside Investors, the data has been available since Monday.
Analysts are expecting BTC to reach a record high. Charles Edwards of Capriole Investments said to Cointelegraph BTC could skyrocket to $150,000 Investors are looking for safe investments, including gold.
While there are many signs that indicate a continuation of an uptrend, analysts have expressed caution. Trader Roman stated in a X post that the relative Strength Index (RSI), indicator, on BTC chart shows a bearish divergence on both the weekly and monthly Time frames. Roman warned traders to be cautious. “careful holding here.”
BTC could reach a new high and trigger a rally of altcoins. We’ll find out by looking at the charts of 10 top cryptocurrencies.
Bitcoin price prediction
BTC broke through the resistance of $117.500 on Wednesday. It is clear that buyers are in control.
BTC/USDT is nearing its all-time record high of $124,474, which the bears should be able to defend strongly. The bears will be active at higher prices if the Bitcoin price drops sharply and falls below $117.500. Bitcoin may remain in the $107,000-$124,474 range for some time.
In contrast, the return of an uptrend is signaled by buyers driving the price to $124,474. It is possible that the pair will then surge to $141,948.
Prediction of Ether prices
EtherETHOn Friday, the price of the stock reached resistance after closing above the 20-day moving average (4 309).
The 20-day EMA is slowly turning up, while the RSI is moving into positive territory. This signals a slight advantage for the bulls. Sellers may try to block the rise at the resistance level, but buyers could push the pair back up towards its all-time record of $4.957.
In order to dampen the momentum of the bulls, they will need to lower the price to below the 20-day EMA. Ether’s price may then fall to $4,060.
XRP price prediction
Buyers pushed XRP (XRPThe.) were above the trendline on Thursday, but they failed to reach a closing above it.
The buyers are trying to keep the XRP above the downward trend line. The bearish triangle will no longer be valid if they are successful. The XRP/USDT pairing may rise to $3.20 then later $3.38.
In the short term, this optimistic outlook will be shattered if price breaks down below moving averages. This suggests that the breakout above downtrend may have been an elaborate bull trap.
BNB price prediction
BNBBNB() soared to an all-time record high of $1,084 and continued its upward trend on Friday.
BNB/USDT broke above the ascending-channel pattern. It signals an increase in bullish energy. The minor resistance is at $1173, and if it is broken, then the rally may extend up to $1252.
On the downside, the breakout from the channel ($1,004) and the 20 day EMA ($1,004) will likely act as solid supports. Sellers would have to lower the BNB rate below $930 in order to indicate that the pair could have reached its short-term peak.
Solana price prediction
Buyers pushed Solana (SOLThe trend line was back up on Wednesday. This suggests that the correction phase is over.
If the pair pulls back from its current level, it is likely that the 20-day EMA (currently $220) will provide support. The SOL/USDT could then rally towards the resistance at $260. It is expected that sellers will defend $260 with their lives because closing above this level could push the Solana prices to $295.
To make it back, sellers will need to lower the price to below the simple 50-day moving average of $221.
Dogecoin price prediction
DogecoinDOGE) closed above the 20-day EMA ($0.24) on Wednesday, indicating a slight edge to the bulls.
While the DOGE/USDT pairs remains in the large range of $0.14-$0.29, price action has formed an ascending triangular pattern. The bullish set-up will be complete once buyers close the deal above $0.29. DOGE could then rise to $0.39, the target for this pattern.
This pattern would be nullified if bears were to pull the price under the trendline. This suggests that the pair could extend its consolidation period for a while.
Cardano price prediction
Cardano’s (ADAOn Thursday, the recovery rate surpassed the 50-day SMA of $0.86, which indicates that selling pressure has decreased.
Cardano must be pushed above the resistance level by the buyers in order to signal that this correction could have ended. The ADA/USDT pairing could try to rally up to $1.02 before the bears step in.
In contrast, if price moves down and breaks under the 20-day EMA (0.84) it indicates the bears will sell on rally. It is possible that the pair will then fall to support at $0.75.
Related: XRP price reclaims $3, opening the way for 40% gains in October
Hyperliquid price prediction
On Thursday, Hyperliquid (HYPE), a stock that trades at low levels, surged over the moving averages.
It is anticipated that the relief rally will face selling around $51.87, which represents a 61.8% Fibonacci Retracement. The price turning down but rebounding off of the moving averages indicates that sentiment is bullish. If the price rises to $59.41, then it could indicate that sentiment has turned bullish.
In the opposite, if price breaks down below moving averages and turns downward, then it indicates that bears have been active on higher levels. Hyperliquid’s price may then fall to $43 before settling at $39.68.
Chainlink price prediction
ChainlinkLINK) rose above the 20-day EMA ($22.35) on Wednesday, but the bulls are facing resistance near the downtrend line.
If the price falls and is below the 20-day EMA it could mean that the LINK/USDT pairs will remain in the descending channel for a few days.
First, the strength of an uptrend will show itself by a breaking and closing above it. In that case, Chainlink’s price might rise up to $26 then, later, $27. Sellers may try to stop this upward trend at $27. However, if bulls succeed, it could rise as high as $30.94.
Sui price prediction
Sui (SUIOn Wednesday, the ) climbed higher than the moving averages, which indicates that selling pressure has decreased.
The SUI/USDT could reach the downward trend line if buyers keep the price higher than the moving averages. It is likely that sellers will defend the downward trend line with vigor, as a breach could push the Sui rate to $4.20 or $4.44.
If, on the other hand, the price breaks down below the moving-averages and turns downward, this indicates that the bears are still fighting. If the price falls below $3.06, it may fall as low as $3.26.
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
