Key points:
Bitcoin has surged past the $117,500 resistance, paving the way for a potential retest of the all-time high at $124,474.
Numerous altcoins have experienced a robust relief rally, indicating strong demand at lower price levels.
Bitcoin (BTC) finished September with over 5% gains, and the bulls carried this momentum into the new month by pushing the price above the significant $117,500 resistance.
Data from CoinGlass shows that a positive monthly close in September has typically led to an average return exceeding 53% in Q4. If historical trends hold, BTC could surge towards $170,000 before the year concludes.
In another encouraging development, analysts anticipate BTC will replicate gold’s impressive bullish trajectory. Crypto analyst and entrepreneur Ted Pillows noted in a post on X that BTC tends to follow gold with an eight-week delay and predicts a strong Q4 for BTC.
Could BTC’s resilience uplift altcoins as well? Let’s examine the charts of the top 10 cryptocurrencies to explore this further.
Bitcoin price prediction
BTC closed above the moving averages on Monday, and bull strength increased by pushing the price over the $117,500 resistance on Wednesday.
The 20-day exponential moving average ($113,527) is beginning to rise, and the relative strength index (RSI) above 61 indicates momentum is in favor of buyers. If the price closes above $117,500, the BTC/USDT pair could challenge the all-time high at $124,474. Sellers are predicted to defend the $124,474 level vigorously, but if buyers succeed, the rally may extend to $141,948.
This optimistic outlook will be invalidated in the near term if the Bitcoin price declines and falls below the $107,000 support.
Ether price prediction
Ether (ETH) has moved above the 20-day EMA ($4,262), showing that selling pressure is easing.
The price may approach the resistance line, which is a key level to monitor in the short term. If buyers push the price above this line, the ETH/USDT pair could retest its all-time high at $4,957.
Alternatively, if the price retreats from the resistance line, it suggests that bears are continuing to sell on any upward moves. Sellers will need to push the Ether price below the $3,745 support to indicate that the pair may have reached a short-term peak.
XRP price prediction
XRP’s (XRP) rebound from the $2.69 support has reached the moving averages, indicating solid demand at lower levels.
Sellers will attempt to keep the XRP price within the descending triangle pattern by defending the downtrend line. A close below $2.69 would complete a bearish descending triangle pattern, potentially accelerating selling and pulling the XRP/USDT pair down to $2.20.
BNB price prediction
BNB (BNB) declined from $1,036 on Monday, but bears have not managed to push the price below the 20-day EMA ($976).
If the price bounces from the current level or the 20-day EMA with strength, it increases the likelihood of a breakout above $1,036. The BNB/USDT pair could then rise to $1,083. Sellers are anticipated to defend the $1,083 level vigorously since a breach could initiate the next leg of the uptrend towards $1,173.
Conversely, if the BNB price declines and falls below $934, it suggests the beginning of a deeper correction toward the 50-day SMA ($909) and then to $842.
Solana price prediction
Sellers are attempting to halt Solana’s (SOL) recovery at the 20-day EMA ($216), but the bulls are maintaining their momentum.
If buyers push the price above the uptrend line, it indicates the end of the corrective phase. The SOL/USDT pair may then climb to $230 and subsequently to $260. Sellers are expected to fight fiercely at the $260 level.
This positive outlook will be nullified in the near term if the price declines below the $190 support. If it does, the Solana price could fall to $175, suggesting the pair may linger within the $110 to $260 range for a while longer.
Dogecoin price prediction
Dogecoin’s (DOGE) tight range trading between the uptrend line and the 50-day SMA ($0.23) broke to the upside on Wednesday.
If the price closes above the 20-day EMA ($0.24), it suggests that the bulls are initiating a comeback. The Dogecoin price could rise to $0.26 and then to the significant resistance of $0.29.
Sellers must pull the price below the uptrend line to regain control. If they succeed, the DOGE/USDT pair could drop to $0.21 and then to $0.19, indicating that the price may consolidate between $0.14 and $0.29 for a few more days.
Cardano price prediction
Sellers attempted to push Cardano (ADA) below the $0.78 level on Tuesday, but the bulls remained resilient.
Buyers are striving to enhance their position by pushing the price above the moving averages. If they succeed, the ADA/USDT pair could rally to the resistance line. Sellers will aim to halt any recovery at this level, but if buyers break through, the Cardano price might surge towards $1.02.
On the downside, a breach and close below the $0.75 level would complete a descending triangle pattern, opening the possibility of a fall to $0.68.
Related: Bitcoin pushes for $118K as analysis calls US gov’t shutdown ‘non-event’
Hyperliquid price prediction
Hyperliquid’s (HYPE) recovery has reached the moving averages, a crucial level to monitor.
The declining 20-day EMA ($48.09) and the RSI just below the midpoint suggest a slight advantage for the bears. Sellers need to drive the Hyperliquid price beneath the $42.89 support to strengthen their position. The HYPE/USDT pair could then drop to $40, where buyers are likely to step back in.
Conversely, a break and close above the moving averages would indicate that the bulls are back in control. The pair may then rally to $54.50 before approaching $59.
Chainlink price prediction
Chainlink (LINK) is currently trading within a descending channel pattern, suggesting that bears are selling on rallies.
Sellers are expected to defend the range between the 20-day EMA ($22.25) and the resistance line aggressively. A sharp decline from this overhead zone would keep the LINK/USDT pair within the channel for an extended period.
A telling sign of strength would be a break and close above the resistance line. Such a movement would suggest that the corrective phase could be over, allowing the Chainlink price to rise to $25.64 and eventually $27, where bears are anticipated to present a significant challenge.
Avalanche price prediction
Avalanche’s (AVAX) relief rally is facing resistance near the 20-day EMA ($30.12). However, the encouraging sign is that bulls have maintained most of their gains against the bears.
If buyers manage to push the price over $31.25, the AVAX/USDT pair could gain momentum and aim for a rally to $36.17. Sellers will likely defend the $36.17 mark vigorously, but if bulls prevail, the rally could extend to $45.
If the price drops below $27.38, it will indicate that bears are maintaining pressure. Avalanche’s price may then decline to $22.50, bringing the broader range of $15.27 to $36.17 into play.
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.
