Important points
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Bitcoin bulls try to maintain the price at or above $107,000. However, the bears are continuing to put pressure on the market.
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Most major altcoins have seen their recovery fizzle out. This indicates that bears are continuing to sell minor rallies.
Bitcoins are still being bought by buyers.BTCThe bears’ pressure has not been eased despite the fact that BTC is still above the crucial $107,000 level. Short-term uncertainties have divided analysts over BTC’s direction.
Standard Chartered’s head of global digital assets research Geoff Kendrick told Cointelegraph BTC is on course to reach $20,000 by the end of 2018. hit $200,000 by the end of 2025. Kendrick thinks that investors will see the recent drop in BTC as an opportunity to buy, which would propel it higher.
Brandt told Cointelegraph that BTC is forming a broadening top chart pattern. Brandt, a veteran trader at Cointelegraph, said that BTC’s chart is showing a widening pattern. “famous for tops,” What could you do? pull the price down to about $60,000.
What is the crucial support level to be on the lookout for when it comes to BTC? We’ll find out by analyzing the charts for the 10 most popular cryptocurrencies.
Bitcoin price prediction
BTC rose sharply Tuesday, but bears stopped the recovery at the simple 50-day moving average ($114.137).
Sellers may try to improve their position by pushing the Bitcoin price under the support of $107,000. The risk that the $100,000 psychological level will be eroded increases if they are successful. It is expected that buyers will defend $100,000 with all of their strength because a failure could trigger a downward trend.
First, if you break through and close over the $116,000 mark. The BTC/USDT pairing could continue to trade within the $107,000 – $126199 range.
Prediction of Ether prices
EtherETHThe 20-day moving exponential average (4,062) turned downwards on Tuesday. This indicates that bears will sell on small rallies.
If they succeed, the bears may try to lower the Ether prices below the line that supports the pattern of a descending channel. They could succeed in doing so, and the selling might increase, and the USDT/ETH pair may drop as low as $3,350.
The price will need to be above the moving averages for the buyers to indicate that the pair may remain in the channel. A close above resistance will give the bulls the advantage.
BNB price prediction
BNBBNB) has been trading between the moving averages since Friday, indicating a tough battle between the bulls and the bears.
A 20-day EMA that is downsloping ($1,122), and an RSI reading in negative territory, indicate a slight advantage for the bears. If the price closes below the SMA of 50 days ($1,041), a new downward trend to $932 is likely.
A close above the EMA of 20 days indicates the bears are in the rear-view mirror. This opens up the possibility of a rally towards the Fibonacci 50% retracement at $1,198.
XRP price prediction
XRP’s (XRP) bounce off the $2.30 support fizzled out at the 20-day EMA ($2.55) on Tuesday, indicating a negative sentiment.
The bears may try to increase their lead by pulling XRP’s price down below the support level of $2.19. They may be able to pull off a successful move, which could see the USDT/XRP pair fall as low as $2.06 or even lower to $1.90.
The price must be quickly driven above the 20 day EMA for the buyers to indicate a recovery. It is possible that the pair will then rise to the 50 day SMA ($2.79), and later the downward trend line. The end of the correction phase is indicated by a close above the trendline. Pairs may rise to $3.38.
Solana price prediction
Solana (SOL) turned down from the 20-day EMA ($198) on Tuesday, indicating that the bears are attempting to retain control.
SOL/USDT could move to the channel support, which is where buyers will likely step in. Bulls must drive Solana above the 20 day EMA in order to indicate that the pair could remain within the channel. The new move up could start on the close above this resistance line.
It is likely that sellers have plans of their own. It is likely that sellers have other plans. The pair may fall to $155 before crashing to $145.
Dogecoin price prediction
DogecoinDOGE) failed to rise above the 20-day EMA ($0.21), indicating that the bears are selling on minor rallies.
Dogecoin’s price may drop to just $0.18. This is an important support level to be aware of. If the DOGE/USDT is pulled below $0.18 by bears, then the next target will be $0.16 or even $0.14.
This assumption is incorrect. If the price rises sharply, and the 20-day EMA breaks, this indicates that selling pressure has decreased. This pair may climb up to the 50 day SMA ($0.23), and then to the strong overhead resistance of $0.29.
Cardano price prediction
Cardano’s (ADA) recovery attempt could not even reach the 20-day EMA ($0.70), indicating a lack of demand at higher levels.
If they succeed, the ADA/USDT pair could plummet to the critical support at $0.50. The ADA/USDT could fall to $0.50 if they are successful. The $0.50 support level is expected to be defended with all the force of the buyers, as a break below this mark will open the way for a drop to $0.40.
The negative opinion will become invalid in the short-term if the pair rises to the level where the breakout occurred, which is $0.75. It is possible that the pair will then rise to the trendline.
Related: BNB price analysis: Here’s why bulls must hold $1K
Hyperliquid price prediction
The Hyperliquid (HYPE), which is the liquid that appears at the neckline in the Head-and-Shoulders pattern, has been turned downward, showing the control of the bears.
Further downside is more likely with the 20-day EMA in negative territory ($40.09), and the RSI. The support level is $33.28, however, if it cracks the pair of HYPE/USDT may fall as low as $30.50.
Bulls must drive the Hyperliquid above the neckline and keep it there to indicate that selling pressure has decreased. The pair might rally towards the 50-day SMA (46.42 USD) and eventually to $51.
Chainlink price prediction
ChainlinkLINK) dipped near the support line of the descending channel pattern after buyers failed to push the price above the 20-day EMA ($19.02).
Sellers try to bring the price down below the $15.43 level and then retest it. Retesting a level of support repeatedly tends to make it weaker. Chainlink’s price could fall to as low as $12.73 if the $15.43 support level fails.
Bulls must push the price and maintain it above the 20 day EMA in order to show strength. The LINK/USDT could rally up to the resistance level, and the bears will likely sell.
Stellar price prediction
Stellar (XLM) relief rally near the 20-day EMA ($0.34) on Tuesday, indicating a negative sentiment.
The XLM/USDT pairing is vulnerable to falling as low as $0.29. It’s a support that needs to be watched. The Stellar price could fall to $0.25 if the $0.29 resistance is broken.
The price must be maintained above the breakout level of $0.34 in order for buyers to indicate strength. It is possible that the pair will rise up to the downward trend line where bears could pose a serious challenge. Close above the downward trend line indicates a possible change in direction.
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
