Bitcoin range break brewing, which altcoins will follow?

The following are key points.

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

• Select 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 repeated tests of the resistance tend 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.ETHSpot ETH exchange-traded funds have higher charges. Spot exchange-traded ETH funds are recorded a 16-day inflow streakOn Friday, the net cumulative inflows increased to $9.33billion from $4.25billion on July 2.

Will BTC be able to break through the resistance overhead, or remain within a range of prices? Can certain altcoins maintain their recent strong performance? Find out by analyzing the charts for the 10 most popular cryptocurrencies. 

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 the bulls are still in charge, however the overbought index of relative strength (RSI), suggests the rally could be overheating. The risk of consolidation or correction is increased.

The sentiment is still positive if price falls but bounces of 20-day simple average moving (6.283). This increases the probability of a rise to 6,500. The sellers must lower the price under the 50-day simple moving average (6,099) in order to win.

US Dollar Index price prediction

The US Dollar Index is still trying to hold 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. The sellers will be expected to make a big challenge when the index reaches 102.

In contrast, if price fails to remain above 50-day SMA then bears still have control. They will try to consolidate their position further by pushing the price down below 97.10. The index will then be at risk of retesting the important support level at 96.37 if the bears succeed in pulling the price below 97.10.

Bitcoin price prediction

BTC fell below the 20 day SMA ($117.867), on Friday. However, the long tail of the candlestick indicates solid purchasing at lower levels.

Bulls want to take the BTC/USDT over the zone of resistance between $120,000 and $123,218. 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. The aggressive bulls may be trapped, leading to a prolonged liquidation. It is possible that the pair will then fall below $100,000 to a psychological support.

Prediction of Ether prices

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. If $4,094 was taken off, then the pair would skyrocket towards $4,868.

XRP price prediction

XRP’s (XRPOn Thursday the SMA of 20 days ($3.10) provided support for a pullback below $3.66, which indicates that you should buy on dips.

Bears are putting up a significant amount of resistance to the bulls’ attempts to move the price towards $3.66. Price breaks lower than the SMA 20 day and continues to drop, this indicates a deepening correction. The USDT/XRP pair could drop as low as $3 or even $2.80.

In contrast, if price bounces back off the SMA of 20-days, then it indicates the bulls have a strong grip on the target level. 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.

The price of BNB/USDT rose above $809 Sunday. This is the beginning of the new uptrend. BNB/USDT could reach $900, and then the psychological $1,000 level.

The RSI is at a level that indicates the rally will be consolidated or corrected in the short term, even though the overall trend still remains upward. First sign of weakness is a breakdown and close below $793. It suggests profit booking at higher levels. It is likely that the pair will then drop to $761. This is where we expect buyers to come in. 

Solana price prediction

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

Bulls try to drive the price up to $209, but face selling higher. 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. This pair could then drop to the SMA 50 days ($160). The range could be between $110-$209. 

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

Dogecoin price prediction

DogecoinDOGEOn Friday, the SMA (20-day SMA) ($0.22) was higher than it had been on Thursday. This indicates that demand is lower.

Bears appear to be active above $0.26. If the price drops below the SMA 20-day, DOGE/USDT could remain in the range of $0.14 to 0.29 for some time.

To gain control, buyers will need to push the price up above $0.29. They could then begin a new upward move towards $0.35 before reaching the $0.44 pattern target.

Cardano price prediction

Cardano’s (ADAThe price of the $0.86 resistance above the SMA (20-day) is set to rise if the $.78 bounces off.

The positive RSI and upsloping SMA of the 20 day period indicate that the bulls have an edge. If the ADA/USDT pairs breaks through $0.86, it could move to $0.94. The sellers will attempt to stop the upward movement at $0.94. If the bulls win, however, they could take the pair to $1.02, and even $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

On Friday, Hyperliquid (HYPE), rebounded from the line support of the ascending-channel pattern. This indicates buying at a dip.

The 20-day SMA (45.06) is a resistance, but if bulls can overcome it the pair HYPE/USDT could reach $48 then $50. At $50, sellers will likely mount a fierce defense.

The bears, on the other hand, will attempt to lower the pair if it turns downwards 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.