Key points:
Bitcoin and most major altcoins have bounced off their support levels, demonstrating strong demand at lower prices.
Buyers might struggle to maintain the recovery as sellers are likely to capitalize on any rallies.
Bitcoin (BTC) made a significant gain on Monday, surpassing $111,000. Traders became optimistic after US President Donald Trump confirmed a meeting with Chinese President Xi Jinping on Oct. 31, fueling hopes for a potential trade agreement between the two nations.
Despite the recent decline, many institutional investors remain bullish on BTC. According to a survey conducted by Coinbase, 67% of 124 institutional investors expressed a positive outlook for BTC over the next three to six months. However, 45% of these institutions believe that markets may be in the latter stages of the bull cycle.
In addition to BTC, analysts are expressing optimism about certain altcoins. Renowned technical analyst John Bollinger mentioned on X that Ether (ETH) and Solana (SOL) are forming potential W bottoms in Bollinger Band terms, although BTC has not yet established one. He noted that “it’s time to pay attention soon.”
Will BTC and altcoins build on the recovery, or will sellers emerge at higher levels? Let’s review the charts of the top 10 cryptocurrencies to discover.
S&P 500 Index price prediction
Buyers stopped the S&P 500 Index (SPX) pullback at the 50-day simple moving average (6,570), indicating buying interest in dips.
The bulls aim to push the price above the all-time high of 6,764, which would set the stage for a continuation of the uptrend. If successful, the index may approach the psychological barrier of 7,000.
This optimistic perspective would be invalidated in the short term if the price sharply declines and falls below the 50-day SMA. In such a scenario, the index could initiate a deeper correction toward 6,350 and subsequently to 6,200.
US Dollar Index price prediction
The US Dollar Index (DXY) is experiencing a significant struggle between buyers and sellers at the downtrend line.
Sellers pushed the price below the downtrend line on Wednesday, but the bulls managed to halt the decline at the 50-day SMA (98.03). Buyers are once again attempting to push the price above the downtrend line. If they succeed, the index could rise to the 100.50 level.
If the price continues to decline and breaks below the 50-day SMA, it suggests that the markets rejected the breakout above the downtrend line. The index may drop to 97.46 and subsequently to 97.19.
Bitcoin price prediction
The inability of the bears to maintain the price below the $107,000 support has led to significant buying from the bulls.
The Bitcoin price could move toward the moving averages, where the bears are anticipated to mount a strong defense. If buyers break through this barrier, it may indicate the end of the correction. The BTC/USDT pair might then attempt a rally toward the all-time high of $126,199.
Sellers will need to aggressively defend the moving averages and swiftly pull the price below the $107,000 support to maintain their advantage. A drop below this support heightens the risk of a fall below $100,000.
Ether price prediction
ETH bounced off the support line on Friday, suggesting that the bulls are working to keep the price within the descending channel pattern.
Sellers will attempt to interrupt the relief rally at the moving averages, but if the bulls manage to prevail, the ETH/USDT pair could rise to the resistance line. Buyers must push the Ether price above this line to indicate the start of a new upward movement. There exists resistance at $4,957, which is likely to be surpassed.
Time is running out for the bears, as they must quickly drive the price below the support line to intensify selling. If they succeed, the pair may plunge to the strong support level of $3,354.
BNB price prediction
BNB (BNB) bounced off the 50-day SMA ($1,032) on Friday, indicating that buyers are active at lower price levels.
Resistance is present at the 20-day exponential moving average ($1,135), but if this level is surpassed, the BNB/USDT pair could rise to the 50% Fibonacci retracement level of $1,198. The bulls will take control if they push the price above the 61.8% retracement level of $1,239, potentially leading to a retest of the all-time high at $1,375.
This optimistic outlook may be invalidated in the near term if the price falls and breaks below the $1,021 support, signaling a possible short-term top.
XRP price prediction
XRP (XRP) dipped 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 in the range between the 20-day EMA ($2.57) and the breakdown level of $2.69. If the price retracts from this overhead zone, the bears will attempt to pull the XRP/USDT pair down to $1.90.
Conversely, a close above $2.69 would indicate that bulls are regaining strength. The upward movement is expected to gain momentum once buyers push the XRP price above the downtrend line. The pair may rise to $3.20 and eventually to $3.38.
Solana price prediction
SOL rebounded from the support line of the descending channel pattern on Friday, indicating demand at lower levels.
The recovery may face selling pressure at the 20-day EMA ($201), which is trending downwards. If the price sharply reverses from the 20-day EMA, the bears will once again try to push the SOL/USDT pair below the support line. If successful, the Solana price could drop to $155.
On the other hand, a decisive move and close above the 20-day EMA would suggest a reduction in selling pressure. The pair could rally to the resistance line, at which point bears are expected to engage again. Buyers will regain control if the price closes above the resistance line, possibly leading to an increase to $238 and then to $260.
Related: XRP price targets $3 as whale wallet count hits new all-time highs
Dogecoin price prediction
Dogecoin (DOGE) continues to be trapped within a significant range between $0.14 and $0.29, indicating a standoff between bulls and bears.
The declining 20-day EMA ($0.21) and the RSI remaining in negative territory suggest a bearish advantage. If the price sharply declines from the 20-day EMA, sellers will attempt to drag the DOGE/USDT pair down to the bottom of the range at $0.14.
Conversely, if buyers manage to push the price above the 20-day EMA, it would imply that bulls are making a comeback. The Dogecoin price could then rally towards the resistance zone between $0.29 and $0.31.
Cardano price prediction
Cardano (ADA) fell below the $0.61 support on Friday, but the bears could not maintain lower levels.
The ADA/USDT pair has begun a recovery, expected to face selling at the 20-day EMA ($0.72) and then at the breakdown level of $0.75. If the price falters at the overhead resistance, bears will aim to sink the pair below $0.60. If they succeed, the Cardano price may drop to $0.50.
The first indicator of strength would be a break and close above the 50-day SMA ($0.80). The pair could then advance toward the downtrend line, which is a crucial level for bears to defend. If sellers fail, the pair could potentially surge towards $1.02.
Hyperliquid price prediction
Hyperliquid (HYPE) fell below the $35.50 support on Friday, but the long tail on the candlestick indicates robust buying at lower levels.
The HYPE/USDT pair could test the 20-day EMA ($41.13), which is an important near-term resistance to watch. If buyers push the price above this level, the pair could rally towards the 50-day SMA ($46.77) and eventually to $51.
Conversely, if the price sharply turns down from the 20-day EMA, it would indicate lingering negative sentiment. The bears will then attempt to lower the Hyperliquid price 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.
