Important points
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Bitcoin is expected to fall between $105,000 and $100,000 over the weekend.
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Ether’s price has fallen in recent days, but is still above the critical $4,094 level.
BitcoinBTCThe NASDAQ Composite Index () declined to a level of around $108,100 Friday. This is its lowest since the 8th July. The bulls may be losing control. Peter Brandt is a long-time trader who said on X in a blog post that BTC needs to climb back above $117,570 The following are some of the ways to get in touch with us: “discount the past 7 weeks as a possible double top.”
Timothy Peterson of the network economists reacted positively to the current weakness despite its near-term nature. bullish on BTC’s prospects The rest of the calendar year. Peterson wrote in a post to X that BTC rose 70% of the times during the last 4 months before Christmas. This averaged a gain of 44 %.
BTC’s insecurity seems to be driving investors EtherETH). CoinGlass reports that since Aug. 21 BTC ETFs received about $350 millions in new money, while ETH exchange-traded fund (ETF) have had $1.87 Billion in new funds.
Nicolai Sondergaard, a Nansen Research analyst told Cointelegraph: investors are booking profits After BTC’s move up and are “moving into other tokens to catch potential upside.”
What is the most important level of support to be aware of in BTC? We’ll find out by analyzing the charts for the 10 most popular cryptocurrencies.
Bitcoin price prediction
BTC recovered from $108,666 Tuesday but it fizzled near the moving average of 20 days ($113,977) by Thursday.
Price fell sharply below support of $108,666 on Friday. If the BTC/USDT price continues to fall below $108,666, it could reach $105,000 or even the psychological support level of $100,000.
To indicate a reduction in selling pressure, the bulls need to get the price to move above the moving-averages. Bitcoin’s price could then reach its all-time record of $124,474.
Prediction of Ether prices
ETH climbed from the 20 day EMA ($4,378) Tuesday but the bears halted recovery at $4.663.
On Friday, the price broke down below the 20 day EMA. The breakout level at $4,094 could be next if the ETH/USDT pairs closes below 20-day EMA. It is expected that buyers will aggressively defend the range between $4.094 and 50-day SMA (3,939), as a breach below may lead to a further pullback down to $3.354.
If the price rises from its current $4,094 level, it indicates that dips are a good time to buy. They will attempt to move the Ether prices above the zone of $4,788 – $4,868. The pair may reach $5,000, and then $5,662.
XRP price prediction
Bulls fail to push XRPXRP) back above the 20-day EMA ($3) in the past few days signals that the bears are fiercely defending the level.
Bears will attempt to consolidate their position by trying to pull the XRP to $2.73, a solid level of support. It is expected that buyers will defend $2.73 with their lives because any close below the level could trigger a decline to $2.20.
A break above and a close over the 20-day EMA will signal strength. This could indicate that the pressure to sell is easing. The pair XRP/USDT may climb up to the downward trend line which will likely act as a strong barrier. It will be necessary for buyers to break through the downward trend line in order to signal that correction could have ended.
BNB price prediction
BNBBNB( ) witnessed a fierce battle between buyers and sellers around the $861 breakout level.
Positive divergence in the RSI indicates that bullish momentum is waning. The price will need to drop below the 20-day EMA of $844 for sellers to win. BNB/USDT could then fall down to the SMA 50 days ($794).
It is more likely that buyers will remain in charge if price rises above the 20-day EMA. The rally might then continue to reach $1,000, a psychologically significant level.
Solana price prediction
Solana (SOL) rebounded off the 20-day EMA ($193) on Tuesday and rose above the $210 barrier on Thursday.
The bears, however, sold higher and pulled the price down below $200. Some aggressive bulls could get caught if the price remains below $210. It could cause long liquidation to pull the price back up.
SOL/USDT could remain in a range between $155-$210 for some time if it breaks below its uptrend line.
A solid bounce from the 20-day EMA (193) indicates demand for lower levels. Bulls will make one last attempt to push Solana’s price to $240, and then to $260.
Dogecoin price prediction
DogecoinDOGE) bounced off the $0.21 support on Tuesday, but the bulls could not push the price above the moving averages.
Price turned sharply down from moving averages. This indicates that bears sell on minor rallies. The risk of breaking the level at $0.21 is increased. In that case, Dogecoin’s price could drop to $0.19 then $0.16.
It is likely that DOGE/USDT will remain within the range between $0.21 and $0.26 for some time.
Cardano price prediction
Cardano (ADA) turned down from the 20-day EMA ($0.85) and has reached the critical support at the 50-day SMA ($0.82).
Short-term, if 50-day SMA is broken down the advantage of the bears will be in their favor. The ADA/USDT pairing then runs the risk of falling to $0.76 before settling at $0.68. The $0.68 mark is expected to be fiercely defended by buyers.
A rise above the 20 day EMA indicates that the bulls may be trying to stage a recovery. Cardano’s price could then reach the downward trend line where bears will likely step in. If the price closes above the downward trend line, the correction could be complete.
Related: Is XRP going to crash in September?
Chainlink price prediction
ChainlinkLINK) bounced off the 20-day EMA ($23.56) on Thursday, but the bulls could not maintain the higher levels.
If they succeed, the LINK/USDT pair could deepen the correction towards the 50-day SMA ($20.23). If the bears succeed, they could push the LINK/USDT to the 50 day SMA ($20.23).
To remain in charge, buyers will need to defend the 20 day EMA fiercely and quickly push the price above $27. They can then start a new leg up to $31 before moving on to $36.
Hyperliquid price prediction
On Wednesday, Hyperliquid (HYPE), broke through the resistance of $49.88 but bulls couldn’t sustain higher levels.
It is important to keep an eye on the price as it has returned back to its moving averages. The bulls are going to try and push the HYPE/USDT pairs above $51.19 if they can force the price off of the moving averages. The Hyperliquid could rise to $64.25.
The positive perspective will become invalid in the short-term if the prices continue to drop and break below the trendline. This could bring the pair down to $40, and then to $36.
Sui price prediction
Sui (SUIFor several days, the price of varies between $3.26 – $4.44.
On Tuesday, the price bounced back off of the $3.26 level but could not surpass the barrier at the 20 day EMA ($3.57). The bears then renewed their selling, pushing the SUI/USDT to $3.26. Repeated retests of a certain support level can weaken that particular level. SUI could fall to $3 if the $3.26 support level breaks.
Buyers will have to keep the price at or above moving averages in order to extend the time within the range.
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 a final decision.
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Source: cointelegraph.com
