BTC to See 60K Once Again

The following are key points.

• Bitcoin, according to analysts, will continue to rise if it stays above the $68,000 mark.

• Many major altcoins turned downwards from their resistance levels above, which indicates that the bears still have control.

Bitcoin’s (BTCThe bears have pushed the price down to $68,500. Some analysts think that BTC will have to hold The $68,000-$70,000 range will continue the short-lived bull market. 

The question that traders are asking is if BTC will continue to fall or has already bottomed. Coinbureau’s CEO Nic stated in a recent post on X, that BTC has historically been cheaper than gold. “taken about 14 months to go from peak to bottom.” Each time, the bottom of the BTC/BTC ratio was followed by an explosive BTC rally exceeding 300%. This 13-month drop from the ratio’s previous peak indicates that BTC may be close to bottoming out.

Some people do not believe that BTC’s bear market is ending. CryptoQuant’s on-chain analysis company said in a blog post published by X that BTC is in a bear market According to their Bull score index, the current rally is in deep bearish territory. Data from the platform shows that current data is showing a rally. “likely just a relief rally, not the start of a new bull phase.”

Can BTC, and a few major altcoins maintain their current support levels? We’ll find out by analyzing the charts for the 10 most popular cryptocurrencies.

Bitcoin price prediction

BTC dropped from its breakdown level of $74,508, showing that bears were defending it with their lives.

On the downside, the 20-day moving average (69,003) will be the key support. Bulls can try again to break through the barrier at $74,508 if Bitcoin turns upward from its 20-day EMA. They may be able to push the BTC/USDT up to $84,000. This move could indicate that the pair has bottomed at $60,000.

In the opposite, a closing below the EMA of 20 days may push the price towards the support line. The support level is crucial to monitor as any break below this line will give the edge to the bears. This pair could then fall to $60,000

Price prediction for Ether

EtherETHThe price of the NASDAQ (NASDAQ: NDAQ) rose above the resistance level at $2,111 on Wednesday. However, the bears pushed the price below that level again on Thursday.

Ether continued to fall and broke under the 20-day EMA ($2,032), indicating the market had rejected the move above $2111. ETH/USDT will likely oscillate in a range between $1.750 and $2.200 for a while.

In contrast, if price moves up and crosses above 50-day SMA (2328), then it indicates that there is less selling pressure. This pair could then begin a move upwards to $2,600. 

BNB price prediction

BNBBNBOn Thursday the price of, which was at $670, fell to $570. The bears were defending that level with vigor.

Bears pulled price down below 20-day EMA (637) indicating bulls are giving up. This suggests that the BNB/USDT may stay in the $570-$670 range for some time.

If the bulls close the day above $670, they will take control of the market. This opens up the possibility of a rally towards the 50-day SMA (718) and then to $790. The next step in the decline to $500 will be for sellers to pull the BNB below $570.

XRP price prediction

The XRP currency (XRP) closed above the 20-day EMA ($1.41) on Wednesday, but the bulls could not sustain the higher levels.

The bears have been trying to push the pair XRP/USDT below $1.27. If the bears succeed in doing so, XRP’s price could fall below the line that forms the descending-channel pattern.

If the pair breaks and turns upwards above the 20 day EMA it indicates that bulls may be trying to make a comeback. It is possible that the pair will then rise to $1.61 which would act again as a stiff resistance.

Solana price prediction

Solana (SOL) turned down from the $95 level on Thursday and has slipped below the 20-day EMA ($86).

The RSI, which is just under the midpoint of the EMA (20-day), and its flattened 20-day EMA indicate a good balance between demand and supply. For a few days, the Solana may fluctuate between $76-$95.

The bears’ grip will be lost if the buyers can close the day above $95 SOL/USDT may surge up to $117. Sellers are back on the field if they close under $76.

Dogecoin price prediction

DogecoinDOGE) rose above the 20-day EMA ($0.10) on Wednesday, but the bulls could not pierce the 50-day SMA ($0.11).

Dogecoin’s price dropped and hit the crucial $0.09 level of support. The DOGE/USDT may test the low $0.08 of February 6 if the bears manage to pull the price down below $0.09. The $0.08 price level is expected to be fiercely defended by buyers, since a break below this mark could send the pair down to $0.06.

To signal their strength, the bulls need to push the price higher than the SMA 50 days. It is possible that the pair will then rise to the $0.12 breakdown level, at which point the bears may step in.

Cardano price prediction

Cardano is being pushed by buyersADAThe bears were able to hold their position despite the price rising above the 20 day EMA ($0.27).

The bulls have a slight advantage, however. They did not allow the Cardano to fall below $0.25. If the price rises from the current $0.25 level, or if it turns upwards at the support of that amount, then the bulls may try again to push the ADA/USDT pairs to the downtrendline in the descending-channel pattern.

If, however, the pair closes below the $0.25 mark then a test of support can be expected. The pair may drop to $0.15 if the support line is broken.

Related: Was $74K a bull trap? Bitcoin traders diverge on 2022 crash repeating

Bitcoin Cash price prediction

Bitcoin Cash bounces off $443 in Bitcoin Cash.BCHOn Wednesday, the price of ) fell to $476. This indicates a negative mood. 

They will try to consolidate their position by lowering the Bitcoin Cash support price below $443. They will have completed a Bearish Head-and-Shoulders pattern if they are successful. This pair could then plunge to $375.

To signal their strength, buyers will need to push the price up above the 20 day EMA ($488). It is possible that the pair will reach the 50 day SMA (533) which would attract buyers. If the pair closes above the 50 day SMA, it indicates a start to a long-term recovery towards $600.

Hyperliquid price prediction

Hyperliquid (HYPEThe moving averages are the most important support.

Bulls may try to push the HYPE/USDT to $36.77 resistance if the Hyperliquid price bounces off moving averages. If the level of $36.77 is closed above, a new upward trend will begin.

This assumption is incorrect. If the price breaks the moving averages and continues to fall, the pair could remain in the range of $20.82 – $36.77 for several more days.

Monero price prediction

Monero has been a target of buyers who are trying to force it (XMRBears are putting up a stiff fight to keep the price above $360.

Watch out for the 20-day EMA (currently $347) on the downside. Monero’s price may rise above the 50 day SMA if the 20 day EMA is broken. The pair XMR/USDT could then rise to the Fibonacci Retracement Level of 414 (61.8%).

If the price breaks down below the 20 day EMA and turns downward, this signals the presence of the bears at the higher levels. The pair may remain range bound between $384-$302 for a long time.