Key points:
Sellers will try to stop the recovery at $74,508, but if buyers bulldoze their way through, the rally may reach $84,000.
Some major altcoins have broken above their overhead resistance levels, indicating solid demand at lower levels.
Bitcoin (BTC) rose to $74,508 on Monday, a level that is key short-term resistance. Crypto sentiment platform Santiment said in a recent report that wallets holding between 10 and 10,000 BTC have started to accumulate, which in the past was a bullish sign.
US spot BTC exchange-traded funds (ETFs) have also attracted investors, recording five consecutive days of inflows last week. Bernstein said in a Monday research note shared with Cointelegraph that sustained inflows into BTC ETFs and continued corporate buying by firms like Strategy have strengthened BTC’s long-term holder base, contributing to a more stable market structure during periods of stress.
BTC is showing signs of a trend reversal, but the bears are unlikely to give up easily. Higher levels are likely to attract sellers who will try to catch the aggressive bulls. Material Indicators co-founder Keith Alan said in a video analysis that BTC is still in a bear market and the price may retest the support near $60,000.
Could buyers hold BTC and major altcoins above their resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index Price Prediction
The S&P 500 Index (SPX) fell from the 20-day exponential moving average (6,799) on Tuesday, indicating negative sentiment.
The index may reach the level of 6,550, which is a crucial level to pay attention to. If the price rebounds strongly from the 6,550 level, the index may reach the 20-day EMA, where the bears are expected to intervene. If the price falls sharply from the 20-day EMA, the probability of a break below the 6,550 level increases. The correction could then deepen to the level of 6,350.
Conversely, a close above the moving averages suggests that the index may remain within the 6,550 to 7,002 range for a while longer.
US Dollar Index Price Prediction
The US Dollar Index (DXY) reached the resistance of 100.54 on Friday, which is a critical level to pay attention to.
The bullish 20-day EMA (98.76) and the RSI near the overbought zone suggest that the path of least resistance is to the upside. If the buyers push the price above the 100.54 level, the index could start a new uptrend to the 102 level and then to the 103.54 level.
Contrary to this assumption, if the price declines sharply from the current level and falls below the moving averages, it suggests that the index may remain within the range of 95.50 to 100.54 for some time longer.
Bitcoin price prediction
BTC continued its upward march and reached the resistance at $74,508, where the bears are expected to mount a strong defense.
The 20-day EMA ($70,028) has started to appear and the RSI is in positive territory, indicating that buyers are trying to take control. A close above the $74,508 level will complete a bullish ascending triangle pattern, opening the doors for a rally to $84,000. Such a move suggests that the downtrend may be over.
Sellers will have to push BTC price below the moving averages to weaken the bulls. The BTC/USDT pair could fall to the support line. A close below the support line tilts the advantage back in favor of the bears.
Ether Price Prediction
Ether (ETH) consolidation between $1,750 and $2,111 resolved to the upside with a breakout on Sunday.
The moving averages are on the verge of a bullish crossover and the RSI is in the positive zone, indicating that buyers are back in the game. ETH price may rise to $2,600 and then to $3,450. Such a move suggests that the ETH/USDT pair may have bottomed at $1,747.
The 20-day EMA ($2,072) is the life support to pay attention to on the downside. A close below the 20-day EMA indicates that the bears are active at higher levels. The pair could then fall to $1,916.
BNB price prediction
BNB (BNB) closed above the $670 resistance on Sunday, but the bulls are struggling to hold the higher levels.
The 20-day EMA ($646) is the critical support to pay attention to on the downside. If the price bounces strongly off the 20-day EMA, the BNB/USDT pair may rise to $730 and subsequently $790.
This positive view will be invalidated in the short term if the BNB price continues to decline and falls below the 20-day EMA. That may keep the pair range-bound between $570 and $670 for a while longer.
XRP Price Prediction
XRP (XRP) has risen above the 50-day simple moving average ($1.46), indicating sustained buying by the bulls.
If XRP price closes above the 50-day SMA, the next stop is likely to be the breakout level of $1.61. If the price turns down from $1.61 but finds support at the 20-day EMA ($1.41), it suggests bullish sentiment. The XRP/USDT pair could then rise to the downtrend line.
On the contrary, if the price turns down from the overhead resistance and falls below the 20-day EMA, it indicates that the bears are selling minor rallies. This can keep the price within the descending channel pattern.
Solana Price Prediction
Solana (SOL) has reached the breakout level of $95, which is a critical overall resistance to watch.
If buyers break the barrier, the SOL/USDT pair may rise to $117. Sellers are expected to pose a substantial challenge at $117, but on the way down, if the bulls hold SOL price above $95, it suggests positive sentiment. That increases the possibility of a rally to $147.
Instead, if the price declines sharply from the current level and falls below the 20-day EMA ($87), it suggests that the pair may extend its stay within the $76 to $95 range for some time longer.
Related: Bitcoin Hits Six-Week High of $74.4K as Analysts See ‘More Upside’ for BTC
Dogecoin Price Prediction
Dogecoin (DOGE) has risen above the 50-day SMA ($0.10), indicating that the bears are losing control.
The DOGE/USDT pair may rise towards the breakout level of $0.12, where the bears are expected to sell aggressively. If DOGE price drops sharply from $0.12, it indicates a possible range formation. The pair may fluctuate between $0.09 and $0.12 for a few days.
On the other hand, a breakout and close above the $0.12 resistance indicates that the bulls have taken control again. That clears the way for a rally towards the $0.16 level, which is expected to act as strong resistance.
Cardano Price Prediction
Cardano (ADA) has broken above the 50-day SMA ($0.28), indicating that the bulls are attempting a comeback.
The bears are expected to vigorously defend the downtrend line, but if the bulls prevail, the ADA/USDT pair may signal a short-term trend reversal. ADA price may rise to $0.37 and then to $0.44.
On the contrary, if the price drops sharply from the downtrend line and falls below the moving averages, it suggests that the pair may continue to oscillate within the channel for a few more days.
Hyperliquid Price Prediction
Sellers attempted to push Hyperliquid (HYPE) back below the breakout level of $36.77 on Sunday, but the bulls held firm.
That suggests that the bulls are trying hard to turn the $36.77 level into support. If they manage to do that, the HYPE/USDT pair can rise to $43 and then $50.
The first support on the downside is at $36.77 and then at the 20-day EMA ($33.95). Sellers will have to push HYPE price below the 50-day SMA ($31.56) to suggest that the market has rejected the break above $36.77. The pair could then plummet to $29.
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