The following are key points.
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Bitcoin broke above $117.500, which opens the door for another attempt at the record high 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, a crypto analyst and entrepreneur from X said that BTC will follow gold eight weeks later. Q4 to be big for BTC.
BTC’s power could push altcoins to higher levels. We’ll find out by looking at the charts of 10 top cryptocurrencies.
Bitcoin price prediction
BTC’s price closed Monday above moving averages, and bulls further strengthened their position by pushing it above the $117.500 resistance level 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. The sellers are likely to fight to the death to hold the $124.474 mark, but should the buyers win, they could push the rally to $141,948.
In the short term, this optimistic outlook will be negated if Bitcoin prices turn down and break below $107,000.
Price prediction for Ether
EtherETH) has risen above the 20-day EMA ($4,262), indicating that the selling pressure is reducing.
Price could hit the resistance line. This is an important level that needs to be watched in the short term. If the ETH/USDT price is pushed above the resistance level, it could test the record-high of $4,957.
In the opposite case, the downward movement of the price from the line of resistance indicates the continued selling by the bears on any rally. Sellers must pull the Ether below $3,745 to indicate that the pair has topped in the near term.
XRP price prediction
XRP’s (XRPHaving reached moving averages after the rebound off of the $2.69 level, this signals a strong buying opportunity at lower prices.
Sellers attempt to keep XRP within the descending triangle by defending the downward trend line. Close below $2.69 to complete the bearish descending triangular pattern. It may cause a surge in selling that could push the pair XRP/USDT down to $2.20.
A close above the downward trend line will negate the setup. 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).
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 may rally up to $1,083. The sellers will try to hold the $1,083 mark with their lives because they know that a breach above this level could trigger the next uptrend towards $1,173.
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 try to stop Solana (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 may rally up to $230 then move on to $260. Expect sellers to defend $260 with vigor.
In the short term, a price drop below the support of $190 will invalidate this view. In that case, Solana’s price may fall as low as $175. This would indicate that the pair could extend its stay within the $110 – $260 range.
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 $0.29, the strong overhead resistance.
If they want to win, the sellers must lower the price to the trendline. 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 was pulled by sellersADAThe bulls remained firm despite the fact that the Dow Jones Industrial Average fell below $0.78 on Tuesday.
The buyers are trying to consolidate their positions by pushing the prices above the moving-averages. 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. 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. To strengthen their position, sellers will need to lower the Hyperliquid’s price to below $42.89. The pair HYPE/USDT could drop down to $40 where buyers will likely step up.
In contrast, the break and closing above the moving-averages indicates that the bulls will be back in charge. It is possible that the pair will rise up to $54.50, and then to $59
Chainlink price prediction
ChainlinkLINKThe bears have been selling when the price rises.
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 could rally up to $27 and then to $25.64. The bears may be a serious threat.
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.
In contrast, if price breaks down below 27,38 it indicates the bears kept the pressure up. Avalanche may drop to just $22.50 before resuming the range from $15.27 up to $36.17.
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
