Key points:
Bitcoin may challenge the $117,500 mark if buyers achieve a daily close above $114,000.
Altcoins are attempting to initiate a relief rally, but are expected to encounter selling pressure at elevated levels.
Bitcoin (BTC) has continued its recovery above $114,000 on Monday, highlighting strong buying activity by the bulls. BTC is currently confined to a range, with analysts split on the forthcoming directional movement. Some anticipate a bear phase while others predict a rise to new all-time highs.
Market participants are exercising caution due to BTC’s short-term unpredictability. Last week, BTC exchange-traded products (ETPs) saw net outflows amounting to $719, according to CoinShares’ report. The altcoin situation was mixed; Ether (ETH) ETPs experienced outflows of $409 million, whereas Solana (SOL) reported inflows of $291 million.
As September nears its end, BTC traders are looking ahead to October, which has shown an average rise of 21.89% since 2013, based on CoinGlass data. Bitcoin network economist Timothy Peterson noted in a post on X that BTC’s bull phase could run from Oct. 11 to June 11, suggesting a 50% chance of BTC reaching $200,000 by June 2026.
Will BTC break through its resistance, lifting altcoins along the way? Let’s analyze the charts of the leading 10 cryptocurrencies to find out.
S&P 500 Index price prediction
The S&P 500 Index (SPX) retraced from 6,699 on Tuesday but found support at the 20-day exponential moving average (EMA) (6,586) on Thursday.
The upward-sloping moving averages and the relative strength index (RSI) being in the positive territory imply that bulls are in control. If buyers push the price above 6,700, the index could resume its ascent toward the 7,000 level.
Sellers would need to pull the price below the 20-day EMA to weaken the bullish momentum. This could subsequently lead to a drop to the 50-day simple moving average (SMA) (6,459). The bulls are expected to fortify the 50-day SMA, as a fall below it could incite a deeper correction to 6,147.
US Dollar Index price prediction
Buyers lifted the US Dollar Index (DXY) above the 50-day SMA (98.02) on Thursday, but the bulls are struggling to maintain this breakout.
The flat moving averages and RSI situated near the midpoint do not clearly favor either the bulls or the bears. Should the price decline and breach the 20-day EMA (97.74), it indicates that the index may consolidate between 99 and 96.21 for an extended period.
Conversely, if the price rebounds from the 20-day EMA and surpasses the 99 level, it would signal positive sentiment. The index could then ascend to 100.50 and eventually to the 102 level.
Bitcoin price prediction
BTC has been fluctuating between $107,000 and $124,474, demonstrating uncertainty among bulls and bears regarding the next directional move.
The BTC/USDT pairing will form a bearish double-top pattern if the price retraces and breaches below $107,000, indicating a potential top in Bitcoin price for the near future. The pair could then drop to $100,000 and eventually down to the target of $89,526.
Alternatively, if the price rises above the moving averages, it suggests a weakening of selling pressure. The pair may then rise to $117,500, a key level to monitor. Should buyers break through the $117,500 resistance, the all-time high is likely within reach.
Ether price prediction
ETH initiated a pullback from $3,815 on Thursday, likely facing resistance at the 20-day EMA ($4,262).
If buyers surpass the resistance at the 20-day EMA, the Ether price may rally toward the resistance line. Sellers will again attempt to halt the recovery at this resistance line, as a breakthrough and close above it could set the stage for a rise to $4,957.
Conversely, if the price declines from the 20-day EMA, it signifies a negative sentiment. This increases the likelihood of breaking below $3,745. If that occurs, the ETH/USDT pair may collapse to $3,426.
XRP price prediction
XRP (XRP) remains within the descending triangle pattern, indicating sustained pressure from bears.
If the price retracts from the moving averages, bears will aim to drive the XRP/USDT pair below the $2.69 support. If successful, this will validate the bearish setup, potentially sending the XRP price down to $2.20.
Buyers must push and maintain the price above the downtrend line to counteract the negative pattern. A successful effort could subdue aggressive bears, allowing the pair to rise to $3.40 and subsequently $3.66.
BNB price prediction
BNB (BNB) rebounded from the 61.8% Fibonacci retracement level of $934 on Friday, indicating demand at these lower levels.
This recovery is likely to meet strong resistance at $1,034 and subsequently at the all-time high of $1,083. A decline from this overhead zone and a breach below $932 would indicate that the BNB/USDT pair may have peaked in the near term, potentially dropping to the 50-day SMA ($901).
Conversely, a surpassing close above the $1,083 level would signify the resumption of an uptrend, and the pair may initiate its next upward movement toward $1,173.
Solana price prediction
SOL started a relief rally from $191 on Friday, but may encounter selling pressure at the 20-day EMA ($216).
If the price declines from the moving averages, the bears will seek to drive the SOL/USDT pair below $191. If they succeed, the Solana price could plummet to $185 and further to $155.
This negative outlook may be invalidated in the near term if the price rebounds and breaks above the 20-day EMA, clearing the way for a retest of the $260 overhead resistance, where bears are expected to mount strong defenses.
Related: XRP price: Record quarterly close may trigger rally toward $15
Dogecoin price prediction
Dogecoin (DOGE) rebounded from the uptrend line on Friday, but the recovery is now facing resistance at the moving averages.
The downtrending 20-day EMA ($0.24) and the RSI hovering just below the midpoint indicate a slight advantage for the bears. Should the price decline and breach the uptrend line, it implies that the DOGE/USDT pair could linger within the $0.14 to $0.29 range for a while longer.
The first sign of strength would be a break and close above the 20-day EMA, which would open pathways for a retest of the robust overhead resistance at $0.29.
Cardano price prediction
Sellers pushed Cardano (ADA) below the $0.78 support on Thursday, but failed to maintain those lower levels.
The price rose back above $0.78 on Friday, with bulls attempting to extend the relief rally towards the moving averages. If the price retracts from the 20-day EMA ($0.83), bears will strive to pull the ADA/USDT pair back towards $0.68.
Alternatively, if buyers push the price above the moving averages, the Cardano price may reach the resistance line. A sustained close above this resistance indicates that the bulls are back in command.
Hyperliquid price prediction
HYPE surged sharply from the $40 support on Friday, indicating vigorous buying at lower levels.
The HYPE/USDT pair has reached the moving averages, a critical level to monitor. If the price declines from the moving averages, the bears will attempt to drive the pair below $40. If successful, the Hyperliquid price could fall to $35.50.
Conversely, if buyers push the price above the moving averages, it indicates that the corrective phase may be over, allowing bulls to target the all-time high at $59.41.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making decisions.
