Bitcoin range break brewing, which altcoins will follow?

Important points

• Bitcoin trading’s range tightening signals an expansion of the range in the coming days.

• Certain altcoins are also under pressure to sell, although they remain well above the support level for near term. 

BitcoinBTCIt continues to drop at the $120,000 mark, but the repeated testing of the resistance level has a tendency to weaken the level. BTC’s chances of hitting an all-time record high are better if buyers don’t cede too much ground to bears.

Tom Lee, Fundstrat’s head of research and CNBC’s interviewee stated that BTC could soar to $200,000 to $250,000 In the coming months, we can expect to see a significant increase in BTC prices. Lee estimates that BTC’s value would equal 25% of gold.

BTC’s consolidating has led investors to Ether.ETHExchange-traded funds for spot ETH have higher fees. Exchange-traded funds for spot ETH have recorded a 16-day inflow streakOn Friday, the net cumulative inflows increased to $9.33 Billion from $4.25 Billion on July 2.

Will BTC be able to break through the resistance overhead, or remain within a range of prices? Select altcoins could continue to be strong. We’ll analyze the charts to see what the results are. 

S&P 500 Index price prediction

The S&P 500 Index (SPX) continued its march toward the target objective of 6,500, indicating sustained demand at higher levels.

The upward-sloping moving Averages indicate that bulls are still in charge, however the overbought index of relative strength (RSI), suggests the rally could be overheating. This increases the likelihood of a possible correction or consolidation in the short term.

It indicates a positive sentiment if the price drops but then bounces back off of the simple moving average (20-days) (6,283). It increases the chances of a move to 6,500. To gain an advantage, sellers will need to lower the price to below the SMA of 50 days (6,099).

US Dollar Index price prediction

The US Dollar Index is now trying to maintain above its 50-day SMA of 97.68, indicating the bulls’ attempt to create a new high.

If they are successful, the index may soar up to 100.54 before settling at 102. At 102, sellers are likely to be a formidable force.

In contrast, the fact that the bears have not been able to keep the price over the 50-day SMA shows they are in charge. In order to reinforce their position, the bears are going to try and pull the price under 97.10. They will try to strengthen their position by pulling the price down below 97.10.

Bitcoin price prediction

BTC dropped below the SMA (20-day ($117,867) Friday but the longtail on the candlestick shows strong buying at lower prices.

The BTC/USDT bulls want to take the pair over the $123,218 to $120,000 resistance zone. If the bulls are successful, they will accelerate the BTC/USDT pair to $135.728 then to $150,000.

Bears have run out of time. They will need to quickly pull the price down below $110,530 to be able to recover. This could trap aggressive bulls and result in a lengthy liquidation. It is possible that the pair will then fall below $100,000 to a psychological support.

Price prediction for Ether

The bulls have struggled to maintain the current levels.

Sellers are going to try and lower the price of $3,745. If sellers succeed in doing so, the pair ETH/USDT may fall below the SMA of 20 days ($3,423). The 20-day SMA is expected to be defended by buyers because breaking below this mark signals a more severe correction.

If the price bounces off $3,745 or the SMA of 20 days with force, this indicates that you should buy on the dips. Bulls will try again to push the pair up to $4,094. Taking out the $4.094 mark could send the pair soaring to $4.868.

XRP price prediction

XRP’s (XRPOn Thursday, the pullback to $3.66 was supported by the SMA (20-day) ($3,10). This indicates buying dips.

Bears are putting up a significant amount of resistance to the bulls’ attempts to move the price towards $3.66. The price may continue to fall and break below the SMA of 20 days if it continues. This could indicate a more serious correction. The pair XRP/USDT may fall to $3, and then to $2.80.

If the price bounces off of the SMA 20 days, this indicates that bulls will defend the current level with vigor. The pair might then surge to $3.66. The pair could then rally to $3.66.

BNB price prediction

BNBBNBThe price of the. (, which was $809 Wednesday, fell to $761 on Thursday. However the bears were unable to maintain the lower level. This suggests that the bulls turned the support level into resistance.

On Sunday, buyers pushed the price over $809 and started the next leg in the upward trend. BNB/USDT could reach $900, and then the psychological $1,000 level.

Although the trend is still up, the RSI’s overbought levels suggest that the rally may be due for a correction or consolidation in the near future. First sign of weakness is a breakdown and close below $793. It suggests that profit booking is taking place at higher levels. If the pair drops to $761 where buyers will likely step in, it is possible that they may do so. 

Solana price prediction

Solana’s (SOLThe pullback of $209 from Wednesday to the SMA (20-day) ($176) that was reached on Friday indicated a demand for lower prices.

Despite the bulls’ efforts, they are being challenged by sellers at higher prices. SOL/USDT may reach $240 or even $260, if the buyers are able to overcome the resistance at $209. A minor resistance exists at $220 but is most likely to be broken.

The short-term validity of this view is invalidated if price falls and breaches below the SMA 20. It is possible that the pair will then fall to its 50-day SMA (160). This suggests a range between $110 to $209. 

Related: XRP price to $4 next? ‘Most profitable phase’ likely here, says analyst

Dogecoin price prediction

DogecoinDOGEOn Friday, the 20-day SMA (0.22) was above its current level ($0.22), which indicates that demand is lower.

Bears appear to be active above $0.26. The DOGE/USDT may stay in the $0.14-$0.29 range if the price falls below the SMA of 20 days.

The price will have to rise above $0.29 for buyers to take control. They could then begin a new upward move towards $0.35 before reaching the $0.44 pattern target.

Cardano price prediction

Cardano’s (ADA) bounce off the 20-day SMA ($0.78) is facing selling at the overhead resistance of $0.86.

The positive RSI and up-sloping SMA of the 20 day period indicate an edge for the bulls. The ADA/USDT could reach $0.94 if the pair breaks above $0.86. Sellers may try to halt this upward trend at $0.94. However, if bulls succeed, then the pair can soar up to $1.02 or even to $1.17.

Short-term, it will be in favour of the bears as long as the price drops and falls below 20-day SMA. It suggests profits being taken on the rally. If the pair declines to $0.67, it may be a sign of profit-booking. 

Hyperliquid price prediction

Friday Hyperliquid’s (HYPE), a stock that is prone to buying dips, bounced back off of the channel support line.

If the bulls are able to overcome the resistance of the SMA (20-days) ($45.06), the HYPE/USDT can rise up to $48. At $50, sellers will likely mount a fierce defense.

The bears, on the other hand, will attempt to lower the pair if it turns downward from the SMA of 20 days. They may succeed in causing a further correction towards $36 or even $32.

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 their final choice.