Important points
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Bitcoin saw the biggest liquidation since the beginning of this year. It is a sign that bulls may be losing control over the markets.
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Some altcoins try to keep their levels of support but could be sold off heavily on rallies.
BitcoinBTCThe price of the stock fell from $112700 to $111800 Monday, but since then has recovered and is now above that level. Liquidation of leverage positions was the cause for this nasty drop. CoinGlass reported in a post to X about the challenges traders face $1.62 billion in long liquidations in 24 hoursThis was the largest long-term liquidation this year.
BTC is expected to rise in October, according to some analysts. Since 2013, BTC has risen 10 out of 12 times CoinGlass reports that the most recent loss occurred in 2018. BTC might reach an all-time record in October, if the past repeats itself.
The US Federal Reserve’s policy change is another positive. Timothy Peterson of Cointelegraph told Cointelegraph the markets were booming. underpricing the possibility of rapid rate cutsThe surprise effect could be devastating when it kicks into gear. “jolt Bitcoin and alts up substantially,” Within the next three to nine months.
Can BTC and other altcoins maintain their support levels? We’ll find out by analyzing the charts for the 10 most popular cryptocurrencies.
S&P 500 Index price prediction
The S&P 500 Index (SPX) hit another new all-time high on Monday, signaling sustained buying by the bulls.
Bears could mount a fierce defense at 6,700. The 20-day moving average is expected to provide support for any dip. The next level could be 7,000 if the price breaks through the 20-day EMA.
The sellers must lower the price to below the moving average simple of 50 days (6,430), in order to lessen the momentum for the bulls. The index may start to fall further to 6,343 or 6,200 if they pull the price below the 50-day simple moving average (6,430).
US Dollar Index price prediction
The US Dollar Index DXY recovered from the 96.37 level on Wednesday. It is clear that bulls have been defending it fiercely.
It is likely that the recovery will be slowed by selling on moving averages. The bears may try to lower the index further below 96.37 if the price drops sharply. The index may extend its downtrend up to 95 if they succeed.
In contrast, the break and closing above the moving-averages indicates that buyers may be trying to create a double bottom of 96.37. It is possible that the index will recover up to 99 before reaching 100.50.
Bitcoin price prediction
BTC’s lack of rise above the $117.500 resistance could have attracted investors who are short term. This selling accelerated when the price dropped below moving averages.
Moving averages that are flat and the relative Strength Index (RSI), which is just below the middle point, indicate a near-term rangebound movement. It is likely that buyers will defend $107,000 as the midpoint of the trading range, because breaking below may send BTC/USDT down to $100,000.
Breaking and closing above $117.500 to the upside indicates that bulls are trying to make a comeback. Bitcoin’s price could then rise to $124,474 as a resistance. To reach $141,948, buyers will need to break through the $124474 resistance.
Price prediction for Ether
EtherETHOn Monday, the price of the fell below the resistance line in the symmetrical triangular pattern. The bears had overpowered the bulls.
Bulls are likely to buy in large quantities at the level of $4,060, as the ETH/USDT has now reached this price. A recovery effort is anticipated to meet with selling near the 20-day EMA (currently $4,442). The risk that Ether will break through $4,060 is increased if the price of Ether turns downwards from the 20 day EMA. It could fall to $3.745 then to $3.426.
If the price breaks through the resistance level, this negative outlook will become invalid in the short term. The price could be range bound between $4.060 and $4.957 for the next couple of days.
XRP price prediction
It is a cryptocurrency that allows you to buy and sell XRP.XRPThe bears have taken control.
Long tail of candlestick indicates aggressive buying around $2.69. The XRP must be quickly pushed above the downward trend line if buyers are to have a successful comeback. The XRP/USDT may rise to $3.40 if they succeed.
If the pair closes at less than $2.69, a triangle will form. The bears will gain the upper hand and the chances of a decline to $2.20 are increased.
BNB price prediction
BNBBNBThe price of a pound fell from its all-time-high $1,083 reached on Sunday to $1,063 today, showing that short-term investors have booked profits.
If the $991 Fibonacci retracement support level cracks, the BNB/USDT could fall back to the 20 day EMA.
When the price bounces off of the 20 day EMA it indicates that traders continue to buy on dips. They will again attempt to restart the upward trend over $1,083. The BNB could reach $1,187 if they succeed.
In the short-term, this positive view is invalidated if the pair falls further and breaches the level of 61.8% Retracement at $934. It is possible that the pair will then crash to its 50-day SMA (872).
Solana price prediction
Solana (SOL) pulled back below the 20-day EMA ($227) and reached near the uptrend line, which is a crucial support to watch out for.
The price rising above the 20 day EMA after the rebound off of the trendline indicates a good time to buy dips. Bulls will attempt to take the SOL/USDT pairs to the $260 overhead resistance.
A break below the upward trend line indicates that buying pressure has decreased. Solana could drop from $185 to eventually $155. The range of $110 – $260 is now in play.
Related: Is XRP price going to crash after falling below $3 again?
Dogecoin price prediction
DogecoinDOGE) tumbled below the 20-day EMA ($0.25) on Monday, indicating that the bulls have given up.
The 50-day SMA (0.23), which is a level of support, is expected to be breached. This pair DOGE/USDT may fall to the strong support of $0.21. This suggests that Dogecoin’s price may remain within the range of $0.14-$0.29 for a while longer.
To gain an upper hand, the bulls must push the price and keep it above the resistance of $0.29. It is possible that the pair will then begin a new upward trend towards $0.35.
Cardano price prediction
Cardano’s (ADAThe symmetrical pattern of a triangle resolved on the downside, giving the advantage to bears.
Bulls may be met with strong selling on the breakdown point. The ADA/USDT pairs turns sharply down from moving averages, and breaks under $0.78. This signals a further correction towards $0.68.
A break above and a close over the moving averages will indicate strength. It shows that there is a lot of buying going on at the lower levels. This pair might start a fresh uptrend towards $1.02, if the buyers force the price to rise above the resistance level.
Hyperliquid price prediction
HYPE dropped below the 20-day EMA (52.11 USD) on Sunday. This is a sign that bulls have fled the market.
As the long tail in the daily candlestick shows, bulls bought heavily when the pair HYPE/USDT reached the upward trend line. To signal the end of the correction, buyers will need to push the price over the 20-day EMA.
If, on the other hand the price breaks down below the upward trend line and turns downward from the 20 day EMA, this indicates that bulls have lost their hold. They will try to drag the Hyperliquid to $40. A move like this could mean that the pair is nearing its top in the short run.
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Source: cointelegraph.com
