Important points
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Bitcoin is now above the resistance of $117.500. This opens the door for a new test at its all-time record price, $124.474.
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A number of altcoins are in a relief rally that is indicating a solid buy at lower prices.
BitcoinBTCThe bulls continued to extend the gains by pushing the price over the $117.500 overhead resistance on the 1st day of the month.
CoinGlass shows historical data that historically, a monthly closing in September is followed by a negative one. an average return of more than 53% in Q4. BTC might reach $170,000 this year, if the past is any indication.
Analysts expect BTC’s bullish trend to be similar to gold. Ted Pillows is a cryptocurrency analyst and entrepreneur who said on X in a blog post that BTC would follow gold, but with an 8-week delay. He expects Q4 to be big for BTC.
Can BTC’s strength push altcoins up? We’ll find out by looking at the charts of 10 top cryptocurrencies.
Bitcoin price prediction
BTC was above its moving average on Monday. The bulls consolidated their positions by pushing it above $117.500 on Wednesday.
The relative strength index (RSI), which is above 61, indicates that momentum has shifted in favor of the buyers. BTC/USDT could reach the record high of $124,474 if the pair closes at or above $117,000. Buyers will defend $124,474 with their lives, while sellers may try to stop the rise.
In the short term, this optimistic outlook will be dispelled if Bitcoin prices turn down and break below $107,000.
Prediction of Ether prices
EtherETH) has risen above the 20-day EMA ($4,262), indicating that the selling pressure is reducing.
In the near future, the price may reach the resistance level. If the ETH/USDT price is pushed above the resistance level, it could test the record-high of $4,957.
If the price moves down, this indicates that bears are continuing to sell rallies. Sellers need to pull Ether’s price down below $3.745 in order to signal that this pair could have reached its short-term peak.
XRP price prediction
XRP’s (XRPThe moving averages have reached the bounce from the support of $2.69, signaling a solid buy at lower levels.
Sellers are going to try and keep the XRP value within the descending triangular pattern, by defending that downtrend line. A close under $2.69 will complete a bearish triangle pattern. This could accelerate the selling and push the pair XRP/USDT to $2.20.
A close above the downward trend line will negate the setup. Failure of a pattern that is negative can be a sign for bulls, since aggressive bears will rush to close out their short positions. This could lead to a rise to $3.20, and later to $3.38.
BNB price prediction
BNBBNB) turned down from $1,036 on Monday, but the bears have not allowed the price to dip below the 20-day EMA ($976).
The likelihood that the pair will break through $1,036 increases if the price moves up with force from its current level, or 20-day EMA. BNB/USDT could then rise to $1.083. Sellers are going to try and defend $1,083 with everything they have because breaking above this level could begin the next leg in the upward trend to $1173.
This assumption is incorrect. If the BNB prices turn down and break below $934 it will signal the beginning of a more serious correction that could lead to the SMA 50 days ($909), and eventually to $842.
Solana price prediction
Sellers have tried to stop Solana’s (SOL) recovery at the 20-day EMA ($216), but the bulls have kept up the pressure.
It is possible that a correction phase has ended if the buyers have pushed the price up above the trendline. SOL/USDT may rally up to $230 then move on to $260. Expect sellers to defend $260 with vigor.
In the short-term, this view could be invalidated if price breaks through the support of $190. The Solana could fall to $175 if that occurs, which would indicate that the pair will stay in the range of $110-$260 for some time.
Dogecoin price prediction
Dogecoin’s (DOGEThe tight trading range between the uptrendline and the 50-day SMA (US$0.23) was resolved on the upside Wednesday.
It is a sign that bulls will try to make a comeback if they close above the 20-day EMA. Dogecoin may rise up to $0.26 before soaring to the strong overhead resistance at $0.29.
To gain an advantage, sellers will need to lower the price of the DOGE/USDT pair below the upward trend line. The DOGE/USDT could fall to $0.21, and then $0.19 if they are successful. This suggests that the price could consolidate for several more days between $0.14 to $0.29.
Cardano price prediction
Cardano is being pulled from the market by some sellersADAThe bulls still held on to their position despite the fact that the market closed Tuesday at $0.78.
By pushing the price up above moving averages, buyers try to increase their buying power. If the buyers succeed in doing this, then the ADA/USDT pairs could rise to the resistance level. Sellers may try to stop the recovery, but buyers can push the Cardano value up towards $1.02.
In the negative, the pattern will be completed by a close and break below the level of $0.75. The price could fall as low as $0.68.
Related: Bitcoin pushes for $118K as analysis calls US gov’t shutdown ‘non-event’
Hyperliquid price prediction
The recovery of Hyperliquid (HYPE), has now reached moving averages. This is an important level.
Bears have a slight advantage due to the downsloping 20 day EMA ($48.09), and the RSI, which is just below midpoint. The sellers must lower the Hyperliquid Price below $42.89 to solidify their position. The pair HYPE/USDT could drop down to $40 where buyers will likely step up.
A break above and a close over the moving averages signal that bulls have taken control. It is possible that the pair will rise up to $54.50, and then to $59
Chainlink price prediction
ChainlinkLINK( ) is trading within a channel-like pattern that indicates the bears are selling on gains.
Expect aggressive sellers to protect the zone that lies between the 20-day EMA and the line of resistance. If price falls sharply, the LINK/USDT could remain in the channel.
A break above and below the resistance line will indicate strength. The corrective phase could be ending if this happens. Chainlink’s price may then rise to $25.64, and eventually to $27 where bears will likely pose a serious challenge.
Avalanche price prediction
Avalanche’s (AVAX) relief rally is facing resistance near the 20-day EMA ($30.12), but a positive sign is that the bulls have not given up much ground to the bears.
The AVAX/USDT could gain momentum if buyers push the price over $31.25. They may then attempt to rally the pair up to $36.17. The sellers are likely to defend this level with vigor, but the rally may reach as high as $45.
If the price drops and falls below $27.38, this indicates that the bears are still in control. Avalanche may drop to just $22.50, which would bring the entire range from $15.27 up to $36.17 into play.
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 any kind of decision.
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Source: cointelegraph.com
