Key points:
Bitcoin and various altcoins have recovered from their lows on Friday, but higher price levels are expected to face strong resistance from bears.
BTC and select altcoins may experience range-bound movements for the next few days.
US stock markets, Bitcoin (BTC), and altcoins are attempting to recover from the significant drops observed on Friday, prompted by US President Donald Trump’s announcement of a 100% tariff on China.
The drop was severe, leading to approximately $20 billion in liquidations over a 24-hour period, as per CoinGlass data. Many highly leveraged traders without adequate risk management likely incurred substantial losses.
This liquidation has cleared some excess, creating an opportunity for stronger long-term investors to step in during dips. While a rebound has initiated, a rapid rally may not commence soon.
Economist Timothy Peterson shared with Cointelegraph on Sunday that BTC is likely to enter a “cooling-off period” lasting three to four weeks before resuming its upward trend, albeit at a slower pace.
Will BTC and altcoins build on this recovery, or will higher price levels attract selling pressure? 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) experienced a sharp decline and fell below the 20-day exponential moving average (6,652) on Friday, signaling profit-taking by traders.
Bulls have stepped in to buy the dip at the 50-day simple moving average (SMA) (6,538), pushing the price back to the 20-day exponential moving average (EMA). If the price sharply declines again from the 20-day EMA, bears may attempt to drive the index below the 50-day SMA. Should they succeed, the correction might deepen to 6,350 and then to 6,200.
Conversely, a close above the 20-day EMA would indicate that the correction might be over, potentially leading the index to retest its all-time high of 6,764.
US Dollar Index Price Prediction
The US Dollar Index (DXY) closed above the moving averages on Tuesday, indicating that bears are losing their grip.
The bulls managed to push the price above a downtrend line on Thursday, but have struggled to capitalize on the breakout. Sellers are likely to attempt to push the price below the 20-day EMA (98.26), a crucial short-term level to monitor.
A strong bounce off the 20-day EMA increases the likelihood of a break above 100.50, pushing the index towards the 102 level.
On the flip side, a close below the moving averages indicates markets have rejected the breakout above the downtrend line. In that case, the index may drop to 97 and eventually to solid support at 96.21.
Bitcoin Price Prediction
Sellers were unable to complete a double-top pattern in BTC, failing to close below the $107,000 support level.
Bitcoin fell to $102,000 on Friday but quickly rebounded, showing strong buying interest at lower levels. The BTC/USDT pair is likely to face selling pressure at the 61.8% Fibonacci retracement level of $116,955.
However, if buyers can break through the resistance, the pair may rally to $121,020 and then to the all-time high of $126,199.
On the other hand, if the price experiences a sharp decline from its current level, support is expected at $109,500 and then at $107,000. Buyers are anticipated to vigorously defend the $107,000 level, as a drop below it raises the risk of a decline below $100,000.
Ether Price Prediction
Sellers managed to push Ether (ETH) below the descending channel pattern on Friday and Saturday, but could not maintain those lower levels.
Ether rebounded into the channel on Sunday, indicating strong buying demand at lower levels. Should the price drop sharply from the moving averages, bears will strive to pull the ETH/USDT pair back below the channel. If successful, it may indicate that the pair has peaked in the short term.
Alternatively, if the price breaks above the moving averages, it suggests that the pair might remain within the channel for a while longer. A breakout and close above the resistance line would enhance the chances of resuming the uptrend.
BNB Price Prediction
BNB (BNB) has seen considerable volatility in recent days. Bears pushed the price below the 20-day EMA ($1,145) on Friday, but bulls reclaimed this level on Saturday.
This suggests a positive sentiment, treating dips as buying opportunities. BNB surged to a new all-time high of $1,375 on Monday, although bulls are struggling to maintain those levels, indicating selling pressure on rallies.
Bears will attempt to solidify their position by pushing the price back below the 20-day EMA. Should they succeed, it would suggest a short-term peak.
Conversely, if the price rises and closes above $1,350, it would indicate that bulls are still in control, potentially leading the BNB/USDT pair to rally towards $1,609.
XRP Price Prediction
XRP (XRP) completed a bearish descending triangle setup on Friday, falling well below the pattern target of $1.72.
A minor positive is that XRP exhibited a solid recovery from a low of $1.25, indicating aggressive buying at lower levels. The anticipated relief rally may reach the 20-day EMA ($2.77), where bears could enter the market. If the price turns down from the 20-day EMA, the XRP/USDT pair may fall to $2.20 and subsequently to $2.
Bulls need to push the price above the downtrend line to signal a turnaround; otherwise, the rallies are likely to be met with selling pressure.
Solana Price Prediction
Solana (SOL) dropped below the ascending channel pattern on Friday, indicating that bears were attempting to take control.
Buyers did not relent and purchased the dip at $168, leading to a sharp recovery on Sunday that brought the SOL/USDT pair back to the channel’s breakdown level.
Related: XRP rebounds 66% from price crash, regaining $75B in market value
If the price declines and breaks below $168, it would indicate negative sentiment, increasing the likelihood of a drop to $155.
Bulls will re-enter the market if they manage to push Solana’s price above the moving averages, potentially rallying toward the resistance of $260.
Dogecoin Price Prediction
Sellers forced Dogecoin (DOGE) below the $0.14 support level on Friday, yet could not achieve a close beneath it.
Dogecoin rebounded sharply and re-entered the larger range of $0.14 to $0.29. Bulls will aim to push the price to the 20-day EMA ($0.23), where selling pressure may arise. If the price dips below the 20-day EMA, the DOGE/USDT pair could decline to $0.18 and then to $0.16.
The next major move could start after the price closes above $0.29 or below $0.14; until then, the pair is likely to remain range-bound.
Cardano Price Prediction
Cardano (ADA) fell below the descending channel pattern on Friday, hitting a panic low of $0.27.
The lower levels attracted strong buying, allowing bulls to push the price back up to the channel’s breakdown level. Sellers are expected to present significant resistance in the area between the support line and the 20-day EMA ($0.78).
If the Cardano price sharply declines from this resistance zone, it would suggest that bears still hold the upper hand, potentially driving the ADA/USDT pair down to $0.60 and ultimately to $0.50.
This pessimistic outlook will be negated in the near term if the price continues to rise and breaks above the resistance line.
Hyperliquid Price Prediction
Hyperliquid (HYPE) completed a head-and-shoulders pattern on Friday, dropping to its target of $21.
Strong buying at lower prices has brought the price back to the neckline of the H&S pattern, where bears are expected to defend their position. If the price declines from the neckline, sellers will try to push the HYPE/USDT pair below the $35.50 support. If successful, the Hyperliquid price could drop to $30.50.
However, buyers might have alternative plans. They will seek to push the price above the moving averages, indicating that the corrective phase may be nearing its end.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
