The following are key points.
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Bitcoin broke above $117.500, opening up the possibility of a new test at the record high price of $124.474.
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A number of altcoins are in a relief rally that is indicating a solid buy at lower prices.
BitcoinBTC() ended September with a gain of over 5%, and bulls continued the gains the next day by pushing price past the resistance level of $117.500.
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 may reach $170,000 by the end of this year if history repeats.
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? Find out by analyzing the charts for the 10 most popular cryptocurrencies.
Bitcoin price prediction
BTC was above its moving averages Monday. The bulls consolidated their positions by driving the price over the resistance of $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 may challenge $124 474 if it closes over $117 500. Buyers will defend $124,474 with their lives, while sellers may try to stop the rise.
This positive outlook may be shattered in the near future if Bitcoin’s price drops and falls below the support level of $107,000.
Price prediction for Ether
EtherETH) has risen above the 20-day EMA ($4,262), indicating that the selling pressure is reducing.
In the short-term, the price may reach the resistance level. The ETH/USDT could reach its all-time record high of $4,957 if buyers push the price over the resistance line.
If the price moves down, this indicates that bears are continuing to sell rallies. Sellers must pull the Ether below $3,745 to indicate that the pair has topped in the near term.
XRP price prediction
XRP’s (XRPIndicating solid purchasing at lower prices, the bounce from the support of $2.69 has now reached the moving averages.
Sellers are going to try and keep the XRP value within the descending triangular pattern, by defending that downtrend line. Close below $2.69 to complete the bearish descending triangular pattern. It may cause a surge in selling that could push the USDT/XRP pair down to $2.20.
A closing above the line of the downtrend negates a bearish set-up. A negative pattern failing is a positive sign, as bears who are aggressive may try to cover 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).
It is more likely that a price break over $1,036 will occur if it turns upwards from either the current or the 20 day EMA. BNB/USDT may rally up to $1,083. Sellers are going to try and defend $1,083 with everything they have because breaking above that level will start the next leg in the trend to $1173.
In contrast to what is assumed, if BNB’s price drops and falls below $934 then it indicates a further correction towards the SMA of 50 days ($909) followed by $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 the correction phase has ended if the buyers have pushed the price up above the trendline. SOL/USDT could rise to $230, and then to $260. The $260 mark is expected to be fiercely defended by sellers.
In the short term, this view could be shattered if price breaks through the support of $190. The Solana could fall to $175 if that occurs, indicating that the pair will stay in the range of $110-$260 for some time.
Dogecoin price prediction
Dogecoin’s (DOGEOn Wednesday, tight range trading occurred between the upward trend line and 50-day SMA.
The bulls may be attempting a recovery if the price is above the 20 day EMA ($0.24). Dogecoin may rise up to $0.26 before soaring to the $0.29 overhead resistance.
To gain an advantage, sellers will need to lower the price of the DOGE/USDT pair below the upward trend line. They could bring the pair DOGE/USDT down to $0.21 then eventually to $0.19. This suggests that the price could consolidate for several more days between $0.14 to $0.29.
Cardano price prediction
Cardano was pulled by sellersADA( ) fell below the level of $0.78 on Tuesday but the bulls remained firm.
By pushing the price higher than the 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.
A break-and-close below $0.75 will create a triangle pattern. This opens up the possibility of a drop to $0.68.
Related: Bitcoin pushes for $118K as analysis calls US gov’t shutdown ‘non-event’
Hyperliquid price prediction
The moving averages have reached a critical point in Hyperliquid’s (HYPE’s) recovery.
The 20-day EMA is sloping down ($48.09) while the RSI at the midpoint indicates a slight bearish edge. The sellers must lower the Hyperliquid Price below the support of $42,89 to increase their positions. The pair HYPE/USDT may then fall to $40. This is where we expect buyers to take over.
In contrast, the break and closing above the moving-averages indicates that the bulls will be back in charge. This pair could then go up to $54.50 before settling at $59.
Chainlink price prediction
ChainlinkLINK( ) is trading within a channel-like pattern that indicates the bears are selling on gains.
The sellers are likely to defend aggressively the area between the 20 day EMA ($22.25), and the resistance line. If price falls sharply, the LINK/USDT could remain in the channel.
First, a close and break will occur above the resistance. The corrective phase could be ending if this happens. Chainlink’s price may then rise to $25.64, and later $27 where bears will likely pose a 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. Buyers will defend $36.17 with fierceness, but if bulls win, they could rally to $45.
If the price drops and falls below $27.38, this indicates that the bears are still in control. Avalanche’s price could then fall to $22.50 and bring into play the huge range of $15.27-$36.17.
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Source: cointelegraph.com
