Key points:
Bitcoin might dip into the $105,000 to $100,000 range over the weekend.
Ether has experienced a short-term pullback but remains above the vital $4,094 support level.
Bitcoin (BTC) fell to around $108,100 on Friday, marking its lowest point since July 8, indicating a potential loss of bullish momentum. Veteran trader Peter Brandt noted on X that BTC needs to return above $117,570 to negate the previous 7 weeks as a potential double top.
Despite recent weaknesses, economist Timothy Peterson expressed optimism for BTC’s performance for the remainder of the year. He mentioned in a post on X that BTC historically rises 70% of the time in the four months leading up to Christmas, with an average gain of 44%.
As BTC uncertainty drives investors towards Ether (ETH), BTC exchange-traded funds recorded approximately $350 million in inflows since August 21, while ETH ETFs saw inflows of $1.87 billion, according to CoinGlass.
Nansen research analyst Nicolai Sondergaard shared with Cointelegraph that investors are securing profits after BTC’s rise and are “shifting into other tokens to capture potential upside.”
What critical support levels should be monitored for BTC and leading altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
After starting a recovery from $108,666 on Tuesday, BTC’s momentum waned near the 20-day EMA ($113,977) on Thursday.
The price sharply declined on Friday, falling below the $108,666 support level. If the price stays below this mark, the BTC/USDT pair may fall to $105,000, potentially reaching psychological support at $100,000.
The bulls need to push the price beyond the moving averages to signal a reduction in selling pressure. This could lead Bitcoin to challenge the all-time high of $124,474.
Ether price prediction
ETH rose from the 20-day EMA ($4,378) on Tuesday, but bears halted the recovery at $4,663.
The price reversed and fell below the 20-day EMA on Friday. If ETH/USDT closes below this EMA, the next stop could be the breakout level of $4,094. Buyers are expected to defend aggressively the zone between $4,094 and the 50-day SMA ($3,939), as a breakdown below it may expand the pullback to $3,354.
Alternatively, if the price rebounds from the current level of $4,094, it indicates strong buying interest on dips. The bulls might then aim to push Ether’s price above the $4,788 to $4,868 zone. If successful, the pair could surge to $5,000 and later to $5,662.
XRP price prediction
The inability of bulls to elevate XRP (XRP) back above the 20-day EMA ($3) in recent days indicates that bears are firmly defending this level.
Bears will likely try to solidify their position by pulling the XRP price down to strong support at $2.73. Buyers are anticipated to vigorously defend this level, as a close below it may trigger a decline to $2.20.
The initial sign of strength will be a sustained break above the 20-day EMA, suggesting a reduction in selling pressure. The XRP/USDT pair may then ascend to the downtrend line, which could serve as a significant resistance. Buyers need to breach this downtrend line to indicate that the correction may be complete.
BNB price prediction
BNB (BNB) is currently experiencing a tough contest between buyers and sellers at the breakout level of $861.
Upsloped moving averages suggest an advantage for buyers, yet negative divergence on the RSI implies that bullish momentum may be waning. Sellers must pull the price below the 20-day EMA ($844) to gain upper hand, potentially leading the BNB/USDT pair down to the 50-day SMA ($794).
Solana price prediction
Solana (SOL) bounced off the 20-day EMA ($193) on Tuesday and climbed above the $210 level on Thursday.
However, bears sold at higher levels, pulling the price back below $210. If the price stays below this level, aggressive bulls may find themselves trapped, triggering long liquidations that could pull the price to the uptrend line.
If the price breaks below the uptrend line, the SOL/USDT pair may remain range-bound between $155 and $210 for a while. Conversely, a strong rebound off the 20-day EMA ($193) indicates demand at lower levels. The bulls may then attempt to drive Solana’s price toward $240 and ultimately to $260.
Dogecoin price prediction
Dogecoin (DOGE) bounced off the $0.21 support on Tuesday, yet bulls struggled to move the price above the moving averages.
The price sharply declined from the moving averages, indicating that bears are selling on minor rallies, increasing the risk of a downturn below the $0.21 level. If this occurs, Dogecoin may dip to $0.19 and subsequently to $0.16.
Bulls need to lift and hold the price above the moving averages to suggest that the DOGE/USDT pair may continue to navigate within the $0.21 to $0.26 range for an extended period.
Cardano price prediction
Cardano (ADA) retraced from the 20-day EMA ($0.85) and has now reached critical support at the 50-day SMA ($0.82).
If the 50-day SMA breaks down, bears will gain the short-term advantage. The ADA/USDT pair could fall to $0.76 and further down to $0.68. Buyers are expected to robustly defend the $0.68 level.
On the upside, a move above the 20-day EMA indicates bulls are attempting a comeback. Cardano’s price may then reach the downtrend line, where bears are expected to engage. A close above this downtrend line may suggest that the correction is over.
Related: Is XRP going to crash in September?
Chainlink price prediction
Chainlink (LINK) rebounded from the 20-day EMA ($23.56) on Thursday, but bulls couldn’t sustain the higher levels.
Bears are pushing to strengthen their position by dragging the price below the 20-day EMA. If successful, the LINK/USDT pair may further correct toward the 50-day SMA ($20.23).
Buyers must defend the 20-day EMA and swiftly push the price back above $27 to maintain control. If accomplished, the Chainlink price could initiate the next phase of the uptrend towards $31 and subsequently to $36.
Hyperliquid price prediction
Hyperliquid (HYPE) surpassed the $49.88 resistance on Wednesday, but bulls could not sustain the higher levels.
The price has returned to the moving averages, representing crucial support. If rebounded forcefully from these averages, bulls may aim to push the HYPE/USDT pair above $51.19. If successful, the Hyperliquid price could rally toward a target of $64.25.
This favorable outlook will be nullified in the near term if the price continues to decline and breaks below the uptrend line, potentially sinking the pair to $40 and then to $36.
Sui price prediction
Sui (SUI) has been trading within a broad range between $3.26 and $4.44 for several days.
The price rebounded from the $3.26 support on Tuesday, but bulls couldn’t breach the 20-day EMA ($3.57), causing the SUI/USDT pair to retreat back to $3.26. Repeated tests of a support level can weaken it. If the $3.26 level fails, SUI price could drop toward $3.
To remain within the range for a few more days, buyers must elevate and maintain the price above the moving averages.
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.
