Key points:
For buyers to retest the significant $100,000 mark, they must push Bitcoin above $94,589.
While Ether shows promise, many major altcoins are finding it hard to maintain their upward momentum.
Bitcoin (BTC) experienced a dip from $94,589 on Tuesday, yet bulls are working to keep the price over $92,000. Market observers are eagerly anticipating Fed Chair Jerome Powell’s upcoming news conference and the individual Fed officials’ dot plot regarding rate expectations on Wednesday.
Some analysts argue that a bottom has been reached, while others see the current uptick as a temporary bounce that may soon reverse. Analyst Colin Talks Crypto shared on X that BTC might fall towards the $74,000-$77,000 range.
This short-term uncertainty hasn’t dissuaded Michael Saylor’s Strategy from boosting its Bitcoin reserves. Last week, the Strategy bought 10,624 BTC for approximately $962.7 million at an average price of $90,615, increasing its total holdings to 660,624 BTC at an average price of $74,696.
What key support levels should be monitored for BTC and major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies for insights.
Bitcoin price prediction
BTC managed to close above the 20-day exponential moving average ($91,583) on Tuesday, yet bulls were unable to keep the price above the $94,150 resistance.
Should Bitcoin rise from the 20-day EMA and close above $94,589, it may indicate a potential rally towards the $100,000 breakdown level. Sellers are expected to rigorously defend this level, as closing above it could propel the BTC/USDT pair to $107,000, indicating that the correction phase might be coming to an end.
Conversely, if the price declines sharply and falls below $87,719, it would suggest that bears are continuing to sell during rallies, and the pair might then drop to $83,822.
Ether price prediction
Ether’s (ETH) recovery has reached the breakdown level of $3,350, demonstrating robust buying interest at lower levels.
The 20-day EMA ($3,116) has begun to rise gradually, and the relative strength index (RSI) is in positive territory, signaling that bulls are working to stage a comeback. If the price surpasses $3,350, it could pave the way for a rally to $3,659 and then $3,918.
Sellers must bring the Ether price back below the 20-day EMA to regain the upper hand. Achieving this would suggest that the $3,350 level has turned into resistance, causing the ETH/USDT pair to potentially fall to $2,716.
XRP price prediction
XRP (XRP) has remained below the 20-day EMA ($2.12) for several days, but bears have struggled to push the price down to the support line of the descending channel pattern.
Bulls will aim to strengthen their position by pushing prices above the 20-day EMA. A successful move could see the XRP/USDT pair rally to the 50-day simple moving average ($2.26) and then to the downtrend line.
On the opposite end, if the XRP price declines and breaks below $1.98, it indicates bear control. The pair could retrace to the channel’s support line and subsequently to the $1.61 level.
BNB price prediction
BNB (BNB) is experiencing a tough contest between bulls and bears at the 20-day EMA ($894).
A flat 20-day EMA and RSI just below the midpoint indicate a balance between supply and demand. The BNB/USDT pair might fluctuate between $791 and $1,020 for a period.
Buyers must push the BNB price above the $1,020 mark to indicate that the corrective phase might be ending. If successful, the pair could target a rally towards $1,182. Conversely, a drop below $791 may lead the pair down to $730.
Solana price prediction
Buyers are trying to keep Solana (SOL) above the 20-day EMA ($138), but bears remain steadfast.
A stable 20-day EMA and RSI close to the midpoint suggest weakening bearish momentum. Should buyers surpass this 20-day EMA resistance, the SOL/USDT pair might gain to the 50-day SMA ($154) and then $172.
On the contrary, a close below the $126 support level could indicate a resumption of the downward trend, potentially leading to drops towards $110, followed by substantial support at $95.
Dogecoin price prediction
Dogecoin (DOGE) buyers have effectively defended the $0.14 support yet are struggling to elevate the price above the 20-day EMA ($0.15).
If the price sharply declines from the 20-day EMA and drops below $0.14, it implies ongoing bear control. In such a case, Dogecoin may fall to the October 10 low of $0.10.
Alternatively, if buyers push the price above the 20-day EMA, the DOGE/USDT pair may rise to the 50-day SMA ($0.16). This level is crucial for bears to defend; breaking above it could open the pathway for recovery to $0.21.
Cardano price prediction
Cardano (ADA) successfully broke through the 20-day EMA ($0.44) on Tuesday, indicating a decrease in selling pressure.
Bulls will focus on pushing Cardano’s price above the 50-day SMA ($0.51). This could enable the ADA/USDT pair to rise to $0.60, and subsequently to $0.70.
However, a sharp downturn from the breakdown level of $0.50, falling below the 20-day EMA, may indicate that bears have converted this level into resistance, leading to a potential decline to $0.37.
Related: Ethereum rising to $3.3K proves bottom is in: Is 100% ETH rally next?
Bitcoin Cash price prediction
Bitcoin Cash (BCH) retreated from the $607 overhead resistance on Monday, suggesting demand is waning at higher prices.
Bears are trying to push Bitcoin Cash below the 20-day EMA ($556). If successful, the BCH/USDT pair could drop to the 50-day SMA ($528) and then to $508.
Buyers must defend the 20-day EMA and move the price above the $607 level to maintain an advantage, which could lead to increases to $615 and eventually $651, where bears are anticipated to intervene.
Chainlink price prediction
Chainlink’s (LINK) recovery is encountering resistance at the 50-day SMA ($14.84), indicating active selling at elevated price points.
Bulls are likely to defend the 20-day EMA ($13.79) while moving downward; a breach below it may cause the LINK/USDT pair to decline to critical support at $10.94.
If the price rebounds from the 20-day EMA, the chance for a break above the 50-day SMA increases. Should this occur, Chainlink’s price may gain momentum and rise to $16.90, followed by up to $19.06, suggesting the pair could remain within the broader $10.94 to $27 range for a while longer.
Hyperliquid price prediction
Hyperliquid (HYPE) closed below the $29.37 support on Tuesday, but lower prices are drawing in buyers.
The RSI indicates early signs of a bullish divergence, suggesting a reduction in selling pressure. The HYPE/USDT pair may gain momentum if buyers push the price above the 20-day EMA ($32.53).
Conversely, if Hyperliquid’s price declines from the current levels or the 20-day EMA, it signals that bears are still selling during rallies, heightening the risk of falling to the October 10 low of $20.82.
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