Bitcoin is set to reach new heights as altcoins continue their struggle

Important points

• Bitcoin will be sold near the $108,000 mark, but there is a high probability of breaking above that level.

• Many major altcoins still remain within a narrow range. However, some show signs of breaking through their short-term resistance levels.

BitcoinBTC() faces selling at just over $108,000. However, a positive indication is the fact that bulls did not allow the price of the stock to fall below $105,000. It suggests bulls hold on to positions, anticipating a higher move.

Analysts believe that Bitcoin will reach a new high within the next few months. BitMEX CEO Arthur Hayes told X on Wednesday that easing geopolitical tension in the Middle East Bitcoin could reach a new high if stablecoin regulations are passed in the United States.

Ether is also expected to be bullish by some analysts.ETHThis cycle, ), to reach a record-breaking high. Other altcoins are also likely to play catch-up. Joao Wentson, founder and CEO of Alphractal, said on X in a recent post that Bitcoin had outperformed altcoins over the last 60 days. However this may not be true. “a great chance to accumulate altcoins while they’re still lagging.”

Can Bitcoin continue its upward trend? Will altcoins be next? We can find out by analyzing the charts for the 10 most popular cryptocurrencies.

Bitcoin price prediction

Bitcoin’s relief rally faces selling near the trendline, which indicates the bears’ attempt to make a lower low.

The 20-day moving average (105,561) slopes up slowly, while the relative strength indicator (RSI), which is located just above the middle, signals that the bulls are in the lead. The descending pattern that is developing will not be valid if buyers push the price over the downward trend line. The price could be catapulted to the neckline in the inverse head and shoulders pattern around $114,000 if buyers drive the price above the downtrend line. The bullish set-up will be complete if the price closes above the neckline. This has an objective of $15,492.

The sellers may have different plans. They’ll try to keep the price under the moving-averages. They could do this and the BTC/USDT pairs stay in the triangle as long as they want.

Price prediction for Ether

Since Tuesday, Ether is still clinging on to the 20 day EMA (2,466). This indicates that bulls are continuing their push.

The ETH/USDT could reach the resistance level of $2,738 – $2,879 if buyers can overcome the barrier located at the simple 50-day moving average. The sellers are likely to hold the zone above, but buyers who bulldoze through could take the pair to $3,437.

If the opposite is true, then the lower levels may be attracting buyers. If the price falls below $2,323, it opens up the possibility of a decline to $2,111, the previous breakout level.

XRP price prediction

Buyers did not push XRP.XRP(above the 50-day SMA of $2.26), indicating that there is a lack in demand for higher prices.

Sellers may try to increase their profits by pushing the price down below $2. The XRP/USDT could begin a downtrend if they are successful in doing so. The buyers will attempt to stop the fall at $1.61, as a breach below this level could send the pair down to $1.28.

Bulls must push price up above $2.34 to indicate that pair could remain in a range between $2.65 and $2.65.

BNB price prediction

BNBBNBThe bulls did not give up any ground despite the fact that they retreated from Wednesday’s resistance line.

This suggests that the bulls do not have a hurry to leave their positions. It increases the likelihood of the pair breaking through the resistance. The BNB/USDT could then rally up to $675, and after that to $698.

A critical support level on the downside to keep an eye out for is $625. If the pair breaks below $625, it may stay in the channel longer. It is possible that the pair will fall below $625 and then reach support.

Solana price prediction

Solana (SOL) turned down from the 20-day EMA ($146) on Thursday, but the bulls are trying to defend the $140 level.

The bulls may be trying to create a new low if the price rises from $140. The price could then rally up to the SMA 50 days ($159), and the $140-$185 range would be in play.

If the price continues to fall from the 20 day EMA, and falls below $140 it indicates that the bears are still in control. SOL/USDT may drop as low as $123 then to the strong support of $110.

Dogecoin price prediction

DogecoinDOGEThe bears did not gain much ground on the bulls. It increases the chances of a move above the 20-day EMA.

The DOGE/USDT could reach the 50-day SMA (0.19) if the 20-day EMA was removed. Sellers are likely to try and defend the SMA 50 days, but if bulls succeed the pair may surge as high as $0.26.

The pair is more likely to remain on the bottom of the huge range that spans between $0.14 and $ 0.26 if it turns downwards from $0.21. When the $0.14 resistance breaks down, it could lead to a drop of as much as $0.10. 

Cardano price prediction

Cardano (ADA) is facing selling at the 20-day EMA ($0.60), indicating that the bears remain in control.

The sellers will attempt to push the price down to the support level of $0.50, but bulls should mount a solid defense. First sign of strength is a breakout and closing above the 20-day EMA. The ADA/USDT may climb up to the 50 day SMA ($0.69), and then to the downward trend line.

If you close the market below $0.50, it will create a triangle-shaped pattern that is bearish. This pair may then drop to $0.40.

Related: Three signs that XRP price will soon break out after 4-month consolidation

Hyperliquid price prediction

Near the 20-day EMA (36.93), Hyperliquid is experiencing a fierce battle between bulls and bears.

The RSI and 20-day EMA are flat and near midpoint. This does not provide a clear edge to either the bulls, or bears. To gain an advantage, buyers will need to push the price up above $39.12. The pair HYPE/USDT could rise to $45.80.

The positive forecast will become invalid in the short-term if prices turn down and break below the SMA 50 days ($33.92). Pair could descend further to support $30.69. Buyers are expected to defend the $30.69 level with all their might because a break below it will complete a bearish H&S pattern.

Bitcoin Cash price prediction

Bitcoin CashBCHBut the bulls couldn’t sustain their higher levels.

Repeated retests of a particular resistance tend to weaken that level. The buyers will again try to break the $500 barrier on Friday. The BCH/USDT could reach $550 if they succeed.

If the price drops sharply, this indicates that bears have been aggressively protecting the $500 level. If the pair pulls back, it could reach the 20 day EMA (457), which would likely attract buyers.

Chainlink price prediction

ChainlinkLINKSince Tuesday, the 20 day EMA ($13.24), has provided resistance to the price. However, the positive aspect is that there have been no significant losses for the bears. 

Bulls are likely to try and challenge the resistance level, which will be an important area to monitor in the short term. The price rising and maintaining above the resistance level signals the potential for a trend change. The LINK/USDT currency pair may rally up to 16 dollars and then go on to 18 dollars.

Sellers will defend the area between the 20 day EMA and resistance line. The pair may fall to $10.94 if the price drops sharply below the overhead zone.

This article contains no investment recommendations or advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making their final choice.