Key points:
Bitcoin bulls are striving to maintain the price above $107,000, but bears are still applying selling pressure.
The rebound in many major altcoins has stalled, indicating ongoing selling from bears during minor recoveries.
Buyers have kept Bitcoin (BTC) above the crucial $107,000 support level; however, the absence of a strong rebound signifies continued bear pressure. Analyst opinions on BTC’s next move remain divided amid short-term uncertainty.
Geoff Kendrick, Standard Chartered’s global head of digital assets research, informed Cointelegraph that BTC is on course to reach $200,000 by the end of 2025. Kendrick believes that investors will view the recent downturn as a buying opportunity, driving BTC higher.
Conversely, veteran trader Peter Brandt sees parallels between BTC’s chart and the soybean market of the 1970s, which plunged 50% after supply outpaced demand. Brandt told Cointelegraph that BTC is forming a broadening top chart pattern, “known for tops,” which could lead to a price decrease to around $60,000.
What critical support levels should be monitored for BTC and major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC experienced a sharp rise on Tuesday, but bears curtailed the recovery attempt at the 50-day simple moving average ($114,137).
Sellers will attempt to strengthen their position by driving the Bitcoin price below the $107,000 support. If they succeed, the risk of a decline toward the psychological support of $100,000 increases. Buyers are expected to defend the $100,000 level vigorously because failing to do so could initiate a new downtrend.
The first indication of strength will be a break and close above the $116,000 level. This would suggest that the BTC/USDT pair could continue to oscillate within the $107,000 to $126,199 range for a while longer.
Ether price prediction
Ether (ETH) declined from the 20-day exponential moving average ($4,062) on Tuesday, indicating that bears are selling during minor recoveries.
Bears will aim to drop Ether price below the support line of the descending channel pattern. Should they achieve this, selling could escalate, risking the ETH/USDT pair dropping to $3,350.
Buyers must push the price above the moving averages to indicate that the pair might remain within the channel for a longer duration. Bulls will take control on a close above the resistance line.
BNB price prediction
BNB (BNB) has been fluctuating between the moving averages since Friday, reflecting a tough contest between bulls and bears.
The downsloping 20-day EMA ($1,122) and the RSI in negative territory suggest a slight advantage for the bears. A close below the 50-day SMA ($1,041) would signal the beginning of a new downtrend to $932.
In contrast, a close above the 20-day EMA indicates that bulls have overcome bears, allowing for a potential relief rally to the 50% Fibonacci retracement level at $1,198.
XRP price prediction
XRP’s (XRP) rebound from the $2.30 support failed at the 20-day EMA ($2.55) on Tuesday, indicating negative sentiment.
Bears will try to enhance their position by pulling the XRP price below the $2.19 support level. If successful, the XRP/USDT pair may plummet to $2.06 and subsequently to $1.90.
Buyers must swiftly push the price above the 20-day EMA to signal a recovery. The pair could then rise to the 50-day SMA ($2.79) and later reach the downtrend line. A close above this downtrend line would suggest the end of the corrective phase, with the pair potentially climbing toward $3.38.
Solana price prediction
Solana (SOL) declined from the 20-day EMA ($198) on Tuesday, indicating that bears are trying to maintain control.
The SOL/USDT pair could drop to the support line of the descending channel pattern, where buyers are expected to engage. Bulls will need to lift Solana price above the 20-day EMA to indicate that the pair may remain within the channel for a longer period. A fresh upward move could initiate on a close above the resistance line.
Sellers may have other intentions. They will attempt to push the price below the support line, and if successful, the pair could plunge to $155 and then to $145.
Dogecoin price prediction
Dogecoin (DOGE) could not surpass the 20-day EMA ($0.21), indicating that bears are selling during minor uptrends.
The Dogecoin price could decline to $0.18, a crucial support level. If bears drive the DOGE/USDT pair below $0.18, the next targets may be $0.16 and subsequently $0.14.
In contrast, if the price sharply turns up and breaks above the 20-day EMA, it suggests diminishing selling pressure. The pair might then rise to the 50-day SMA ($0.23) and ultimately encounter strong overhead resistance at $0.29.
Cardano price prediction
Cardano’s (ADA) recovery attempt could not reach the 20-day EMA ($0.70), indicating weak demand at higher levels.
Bears will seek to enhance their advantage by pulling Cardano price below the $0.59 support. If successful, the ADA/USDT pair could drop to the critical support at $0.50. Buyers are expected to defend the $0.50 level aggressively, as a close below it could pave the way for a decline to $0.40.
This negative outlook will be invalidated in the short term if the price rises above the breakdown level of $0.75, allowing the pair to climb to the downtrend line.
Related: BNB price analysis: Here’s why bulls must hold $1K
Hyperliquid price prediction
Hyperliquid (HYPE) retreated from the neckline of the head-and-shoulders pattern, indicating bear dominance.
The downsloping 20-day EMA ($40.09) and negative RSI elevate the likelihood of further declines. There is support at $33.28, but if this breaks, the HYPE/USDT pair could fall to $30.50 and then to $28.
Bulls must push and maintain the Hyperliquid price above the neckline to indicate reduced selling pressure. The pair may then rally to the 50-day SMA ($46.42) and potentially to $51.
Chainlink price prediction
Chainlink (LINK) dropped near the support line of the descending channel pattern after buyers failed to propel the price above the 20-day EMA ($19.02).
Sellers will strive to push the price below the support line and retest the $15.43 level. A repeated retest at a support level often weakens it. If the $15.43 level fails, Chainlink price may plummet to $12.73.
Bulls must drive and sustain the price above the 20-day EMA to demonstrate strength. The LINK/USDT pair could then rally toward the resistance line, where bears are expected to sell robustly.
Stellar price prediction
Stellar’s (XLM) relief rally was halted by bears near the 20-day EMA ($0.34) on Tuesday, signaling negative sentiment.
The XLM/USDT pair risks dropping to $0.29, which is a critical support level to monitor. If the $0.29 support fails, selling could accelerate, leading the Stellar price to decline to $0.25.
Buyers will need to push and maintain the price above the breakdown level of $0.34 to indicate strength. The pair could then rise to the downtrend line, where bears are expected to present a strong challenge. A close above the downtrend line could signal a potential trend shift.
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.
