Key points:
Bitcoin and most major altcoins have risen from their support levels, indicating strong demand at lower prices.
Buyers may struggle to maintain the upward momentum, as sellers are likely to capitalize on any rallies.
Bitcoin (BTC) made a significant recovery on Monday, surpassing $111,000. Traders became optimistic after US President Donald Trump announced a summit with Chinese President Xi Jinping on Oct. 31, raising hopes for a potential trade agreement between the US and China.
Despite the recent dip, many institutional investors remain bullish on BTC. A survey conducted by Coinbase among 124 investors revealed that 67% were optimistic about BTC over the next three to six months. However, 45% of these institutions view the markets as being in the latter stages of the bull run.
In addition to BTC, analysts are optimistic about specific altcoins. Noted technical analyst John Bollinger pointed out on X that Ether (ETH) and Solana (SOL) are displaying potential W bottoms according to Bollinger Band analysis, although BTC has yet to form one. He suggested that it’s “time to pay attention soon.”
Will BTC and altcoins extend their recovery, or will they be met with selling pressure at higher levels? Let’s examine the charts of the top 10 cryptocurrencies to understand better.Â
S&P 500 Index price prediction
Buyers managed to halt the pullback of the S&P 500 Index (SPX) at the 50-day simple moving average (6,570), signaling buying interest on dips.
The bulls will aim to push the price above the all-time high of 6,764, paving the way for the continuation of the uptrend. If successful, the index could approach the psychological barrier at 7,000.
This optimistic outlook will be invalidated in the short term if the price sharply declines below the 50-day SMA. Subsequent support could be at 6,350 and eventually at 6,200.
US Dollar Index price prediction
The US Dollar Index (DXY) is currently experiencing a tough battle between bulls and bears at the downtrend line.
Sellers pushed the price below the downtrend line on Wednesday, but the bulls arrested the decline at the 50-day SMA (98.03). Buyers are again working to lift the price above the downtrend line. A successful attempt could see the index rise to 100.50.
Conversely, if the price continues to decline and breaks below the 50-day SMA, it would indicate that the market has rejected the breakout above the downtrend line. The index may drop to 97.46 and then to 97.19.
Bitcoin price prediction
The inability of bears to maintain the price below the $107,000 support level triggered strong buying from bulls.
The Bitcoin price may approach the moving averages, where bears could mount a strong defense. A break above these levels suggests the correction might be over, and the BTC/USDT pair could attempt a rally to the all-time high of $126,199.
Sellers will need to defend the moving averages vigorously and pull the price below the $107,000 support to regain control. Such a development increases the risk of a drop below the $100,000 support.
Ether price prediction
ETH bounced off the support line on Friday, indicating that the bulls are working to keep the price within the descending channel pattern.
Sellers will attempt to halt the recovery at the moving averages; however, if the bulls prevail, the ETH/USDT pair could rally to the resistance line. Buyers need to push the Ether price above this line to signal the beginning of a new upward movement. Resistance is at $4,957, which is likely to be surpassed.
The bears are running out of time and will need to quickly pull the price below the support line to accelerate selling. If they succeed, the pair could plunge to solid support at $3,354.
BNB price prediction
BNB (BNB) rebounded from the 50-day SMA ($1,032) on Friday, indicating that bulls are active at lower levels.
Resistance exists at the 20-day exponential moving average ($1,135), but if surpassed, the BNB/USDT pair could rise to the 50% Fibonacci retracement level of $1,198. A push above the 61.8% retracement level of $1,239 would give bulls an advantage, potentially retesting the all-time high of $1,375.
This positive outlook will be negated if the price declines and breaks below the $1,021 support, suggesting that the pair might have peaked in the short term.
XRP price prediction
XRP (XRP) slipped below the $2.30 support on Friday, but the long tail on the candlestick indicates strong buying at lower levels.
The relief rally may encounter resistance within the range between the 20-day EMA ($2.57) and the breakdown level of $2.69. If the price retreats from this resistance zone, bears will try to pull the XRP/USDT pair down to $1.90.
Conversely, a close above $2.69 would indicate that bulls are regaining momentum. The upward movement is expected to gain traction if buyers push the XRP price above the downtrend line, potentially climbing to $3.20 and then to $3.38.
Solana price prediction
SOL bounced off the support line of the descending channel pattern on Friday, indicating demand at lower levels.
The recovery could face resistance at the 20-day EMA ($201), which is downtrending. If the price sharply declines from this EMA, bears will likely attempt to sink the SOL/USDT pair below the support line, risking a drop to $155.
On the other hand, a close above the 20-day EMA would indicate reduced selling pressure. The pair could advance toward the resistance line, where bears are anticipated to reenter. A close above this resistance line would put buyers back in control, and the pair may then rise to $238 and later to $260.
Related: XRP price targets $3 as whale wallet count hits new all-time highs
Dogecoin price prediction
Dogecoin (DOGE) remains confined within a wide range between $0.14 and $0.29, reflecting indecision between bulls and bears.
The declining 20-day EMA ($0.21) and the RSI in negative territory suggest an edge for bears. A sharp decline from the 20-day EMA would likely result in sellers targeting the bottom of the range at $0.14.
In contrast, a price surge above the 20-day EMA would indicate that bulls are trying to regain control. The Dogecoin price could then rise to the resistance zone between $0.29 and $0.31.
Cardano price prediction
Cardano (ADA) fell below the $0.61 support on Friday, but bears were unable to maintain these lower levels.
The ADA/USDT pair has begun a recovery but will likely face resistance at the 20-day EMA ($0.72) and the breakdown level of $0.75. A price retreat from these resistance levels may prompt bears to attempt to sink the pair below $0.60. If they succeed, Cardano’s price may fall to $0.50.
The first sign of strength would be a break and close above the 50-day SMA ($0.80). The pair could then rise toward the downtrend line, a critical level for bears to defend. If sellers fail, the pair could surge toward $1.02.
Hyperliquid price prediction
Hyperliquid (HYPE) dropped below the $35.50 support on Friday, but the long tail on the candlestick indicates strong buying at lower levels.
The HYPE/USDT pair may reach the 20-day EMA ($41.13), a crucial near-term resistance. If buyers push the price above this level, the pair could rally to the 50-day SMA ($46.77) and eventually to $51.
Conversely, if the price sharply declines from the 20-day EMA, it suggests negative sentiment persists. In this case, bears will attempt to drive the Hyperliquid price down to $30.50.
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.
