Important points
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Bitcoin could end October with a loss for the first time since 2007.
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Some altcoins are now at their critical support levels. This indicates that they were sold on the rally.
BitcoinBTCBulls are trying to keep the price of BTC above $110,000 but bears continued to apply pressure. This increases the likelihood of BTC reaching its highest level. first-ever red October close Seven years. CoinGlass data shows that November’s average return is 46.02%.
Many analysts have turned bearish towards BTC. a potential cycle peak Based on the four-year cycle of halving. Others, including BitMEX’s Arthur Hayes think that BTC’s four-year cycling is no longer valid.
The four-year cycle can be difficult to determine with certainty, but it is possible. net outflows of $959.1 million Farside Investors data shows that investors in institutional funds are cautious.
What are some of the most important support levels in BTC, and other major altcoins to keep an eye on? We’ll find out by analyzing the charts for the 10 most popular cryptocurrencies.
Bitcoin price prediction
BTC bounced from the bottom of its range, near $107,000. This indicates that bulls are defending this level aggressively.
It is anticipated that the relief rally will face selling near the exponential moving average of 20 days ($111,557). It is more likely that the pair will drop below $107,000 if price moves sharply down from 20-day EMA. The BTC/USDT will then complete a two-top pattern, and could even dive as low as $100,000.
A close and break over the 20-day EMA indicates that Bitcoin’s price will likely remain within the $107,000 to $126,199 range.
Price prediction for Ether
EtherETHOn Thursday,, bounced off of the support line in the descending pattern. This signals buying at lower prices.
Selling at moving averages could affect the recovery. In that case, bears may try again to push the Ether value below the resistance line. They could bring the pair ETH/USDT down to $3,350.
The price will need to be pushed above the moving averages by buyers to keep this pair in the channel. Next leg up is expected to start on a close above resistance and begin with a break.
BNB price prediction
BNBBNB() has witnessed a fierce battle between the bulls ($1,084) and the bears on the 50-day simple average.
When the price moves below the SMA and the 20-day EMA (1,113), it indicates the beginning of a larger correction. BNB/USDT may drop as low as $1,021 before settling at $932.
If the price is above the 20 day EMA it indicates that bulls may be trying to make a return. BNB could rally up to $1,156 which is the Fibonacci 38.2% retracement. This could draw sellers. Close above $1,156 opens the way for a rally towards the 61.8% Fibonacci retracement of $1,239
XRP price prediction
The XRP currency (XRP) fell below the 20-day EMA ($2.54) on Thursday, signaling that bears are trying to retain the advantage.
They will do this by trying to pull the XRP rate to the zone of support between $2.32 and 2.19. The support area will be vigorously defended by buyers, since a closing below this level could increase selling. The XRP/USDT pairing may plummet to $1.90.
Bulls, time is shortening. The bulls will have to push quickly the price above moving averages in order to gain strength. If the price closes above the downward trend line, a potential change in trends will be indicated.
Solana price prediction
Solana (SOL( ) is trading within a triangle pattern that’s symmetrical, which indicates indecision regarding the direction of its next move.
SOL/USDT may fall towards the strong support level of $155 if price slips below uptrend line. The $155 mark is expected to be fiercely defended by buyers, since a breach below this level could send the pair down to $140.
It is possible that the pair will remain within the triangle until the price moves up and above the 20 day EMA (194). The buyers are back in control after pushing Solana’s price over the resistance line.
Dogecoin price prediction
Dogecoin buyers are trying to keep it (DOGE(above the support of $0.17, but the superficial bounce indicates that the bears will continue to exert their pressure.
If the level of $0.17 cracks, DOGE/USDT may fall as low as $0.14. Dogecoin will be kept within the range of the price by buyers defending the level $0.14. However, if this fails, they could see the DOGE/USDT pair drop as low as $0.10.
First, the pair will need to break through and close above resistance at $0.21. It is possible that the pair will climb up to the SMA 50 days ($0.22) before attempting a rally toward the strong overhead resistance of $0.29.
Cardano price prediction
Cardano (ADA() has continued to fall and on Thursday broke through the support of $0.59, signaling the fact that bears are still in charge.
The ADA/USDT could fall to $0.50 if the price stays below $0.59. As a result, buyers are likely to defend this level with vigor. A drop below the $0.50 mark could start a downward trend.
The bears’ grip is loosening if the price of Cardano breaks and closes above the 20 day EMA ($0.66). Cardano’s price may then rise to $0.75, the previous breakdown level and finally to the downward trend line.
Related: XRP price keeps losing ground despite upcoming Ripple Swell event
Hyperliquid price prediction
The sellers once again thwarted bulls attempts on Thursday to push Hyperliquid’s (HYPE) above the $51,50 overhead resistance. The price was pushed down to the 20 Day EMA ($43.10).
The bears continue to sell despite the buyers’ attempts to protect the 20-day EMA. If the HYPE/USDT price drops below the 20-day EMA the pair may drop to its neckline or even to $35.50.
In the short term, this negative outlook will be nullified if Hyperliquid prices turn up and break above $51.50. This pair may then reach an all-time record high of $59.41.
Chainlink price prediction
Chainlink is being pushed by buyersLINK) above the 20-day EMA ($18.24) on Wednesday, but the bears held their ground.
According to the moving averages, the trend is still down. The relative strength indicator in the negative zone indicates that the bears are in charge. Chainlink’s price may then plunge to $15.43, the support level where bulls will likely step in.
To signal strength, buyers will need to maintain and push the price higher than the 20-day EMA. The LINK/USDT pairing could reach the resistance line. This is a crucial level.
Bitcoin Cash price prediction
Bitcoin CashBCH) has been stuck between the 20-day EMA ($530) and the resistance line for the past few days.
To signal that a trend could change, the bulls need to maintain and push Bitcoin Cash’s price over the resistance line. BCH/USDT may then rise to $615 or even $651.
If the price breaks down below the 20 day EMA and turns downwards, this suggests the pair could remain in the falling wedge for a couple of more days. The pair could drop from $500 to $475.
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
