Key points:
Robust inflows into Bitcoin spot ETFs indicate that bulls are regaining control, making a rally to a new all-time high probable.
BNB is spearheading the recovery among altcoins, with numerous altcoins set to surpass their resistance levels.
Bitcoin (BTC) climbed to nearly $123,900 on Friday, progressing towards its all-time high of $124,474. This recovery is underpinned by solid bullish demand, with US spot BTC exchange-traded funds seeing $2.25 billion in inflows since Monday, as per Farside Investors.
Analysts predict that BTC may soar to a new all-time high. Capriole Investments founder Charles Edwards mentioned to Cointelegraph that BTC could reach $150,000 by year-end as investors seek safe havens alongside gold.
While indicators point towards possible uptrend continuation, some analysts are cautious. Trader Roman remarked on X that the relative strength index (RSI) on BTC’s chart shows a bearish divergence on weekly and monthly timeframes. Roman advised traders to “exercise caution in holding here.”
Will BTC rise to a new all-time high and spur a rally in altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to uncover more.
Bitcoin price prediction
BTC broke above the $117,500 resistance on Wednesday, signaling that buyers have returned.
The BTC/USDT pair is nearing the all-time high of $124,474, where strong bear resistance is anticipated. A sharp downturn from the current level and a break below $117,500 would indicate active bears. The Bitcoin price could then oscillate between $107,000 and $124,474 for a while.
Conversely, if buyers push the price past $124,474, it signals a continuation of the uptrend, possibly leading the pair to $141,948.
Ether price prediction
Ether (ETH) closed above the 20-day exponential moving average ($4,309) on Wednesday and reached its resistance line on Friday.
The 20-day EMA is beginning to tilt upward, with the RSI entering positive territory, suggesting a slight bullish advantage. Sellers will attempt to halt the recovery at the resistance line, but if buyers prevail, the ETH/USDT pair could revisit the all-time high at $4,957.
Bears must pull the price below the 20-day EMA to weaken bullish momentum, at which point Ether could fall to $4,060.
XRP price prediction
XRP buyers lifted the price above the downtrend line on Thursday but couldn’t secure a closing above it.
Buyers are attempting to maintain XRP’s price above the downtrend line; if successful, the bearish descending triangle pattern will be invalidated. The XRP/USDT pair could then rise to $3.20 and later $3.38.
This optimistic outlook will be negated in the short term if the price declines and breaks below the moving averages, indicating a potential bull trap.
BNB price prediction
BNB (BNB) surged to an all-time high above $1,084 on Thursday and continued its upward momentum on Friday.
The BNB/USDT pair has broken above the ascending channel pattern, indicating a surge in bullish momentum. Minor resistance is present at $1,173, but crossing this level could extend the rally to $1,252.
The breakout level from the channel and the 20-day EMA ($1,004) are expected to serve as strong supports on the downside. Sellers would need to push BNB below $930 to signal a potential short-term top.
Solana price prediction
Buyers lifted Solana (SOL) back above the uptrend line on Wednesday, suggesting an end to the corrective phase.
Any pullback from this level is likely to find support at the 20-day EMA ($220). If this occurs, the SOL/USDT pair could rally to the overhead resistance at $260. Sellers are expected to vigorously defend the $260 mark, as a close above it could propel Solana to $295.
Sellers must pull the price below the 50-day simple moving average ($212) to make a comeback.
Dogecoin price prediction
Dogecoin (DOGE) settled above the 20-day EMA ($0.24) on Wednesday, indicating a slight bullish advantage.
While the DOGE/USDT pair remains trapped in a range between $0.14 and $0.29, the price action shows an ascending triangle pattern. Buyers need to secure a close above $0.29 to complete the bullish setup, which could lead DOGE to a target of $0.39.
This bullish pattern will become invalid if the bears pull the price below the uptrend line, indicating extended consolidation.
Cardano price prediction
Cardano’s (ADA) recovery surpassed the 50-day SMA ($0.86) on Thursday, suggesting decreasing selling pressure.
Buyers must push Cardano above the resistance line to indicate that the correction may be concluding. The ADA/USDT pair could then aim for a rally to $1.02, where bears are anticipated to intervene.
If the price retreats from the current or resistance level and falls below the 20-day EMA ($0.84), it suggests that bears are selling on rallies and could lead to a drop to $0.75 support.
Related: XRP price reclaims $3, opening the way for 40% gains in October
Hyperliquid price prediction
Hyperliquid (HYPE) surged above the moving averages on Thursday, indicating solid buying support.
The relief rally may encounter selling pressure at the 61.8% Fibonacci retracement level of $51.87. If the price dips from $51.87 but rebounds off moving averages, it signifies bullish sentiment, leading the HYPE/USDT pair to $59.41.
Conversely, if the price declines and falls below the moving averages, it indicates active bear participation. The Hyperliquid price could then drop to $43 and subsequently to $39.68.
Chainlink price prediction
Chainlink (LINK) rose above the 20-day EMA ($22.35) on Wednesday, but bulls are facing resistance at the downtrend line.
If the price falters and stays below the 20-day EMA, it suggests the LINK/USDT pair could be trapped in the descending channel for a few more days.
A sign of strength would be a break and close above the downtrend line. This could lead to a rally toward $26 and later $27, where sellers will likely try to halt the upward movement. If bulls succeed, the rally may extend to $30.94.
Sui price prediction
Sui (SUI) climbed above the moving averages on Wednesday, signaling reduced selling pressure.
If buyers maintain the price above the moving averages, the SUI/USDT pair could advance to the downtrend line. Sellers are likely to defend this line aggressively, as a breach may propel Sui to $4.20 and eventually to $4.44.
Alternatively, if the price retraces and breaks below the moving averages, it indicates that bears remain active. The pair could then fall to the $3.26 to $3.06 support zone.
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.
