Key insights:
Bitcoin may test the $117,500 level if buyers achieve a daily close above $114,000.
Altcoins are attempting to initiate a relief rally, but are likely to encounter selling pressure at higher levels.
Bitcoin (BTC) continued its recovery past $114,000 on Monday, signifying strong buying activity from bulls. BTC remains in a range, with analysts split regarding its next direction. While some foresee a bearish trend, others anticipate a surge to a new all-time high.
Market players are exhibiting cautious sentiment due to the near-term uncertainty surrounding BTC. According to CoinShares’ weekly report, BTC exchange-traded products (ETPs) saw $719 million in net outflows last week. The altcoin scenario was a mix; Ether (ETH) ETPs experienced $409 million in outflows, whereas Solana (SOL) noted $291 million in inflows.
As September wraps up, BTC traders are optimistic about October, which historically shows an average increase of 21.89% since 2013, according to CoinGlass data. Bitcoin network economist Timothy Peterson indicated in a post on X that BTC’s bull phase lasts from Oct. 11 to June 11, suggesting a 50% probability of BTC reaching $200,000 by June 2026.
Could BTC break through its overhead resistance, lifting altcoins in the process? Let’s examine the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index price forecast
The S&P 500 Index (SPX) retraced from 6,699 on Tuesday but found support at the 20-day exponential moving average (6,586) on Thursday.
The upward-sloping moving averages and the relative strength index (RSI) in the positive zone indicate that bulls are in command. If buyers push the price above 6,700, the index could resume its upward trend toward the 7,000 level.
To weaken bullish momentum, sellers must drag the price below the 20-day EMA. This may lead the index to plummet to the 50-day simple moving average (6,459). Bulls are expected to fiercely defend the 50-day SMA, as a drop below it could trigger a deeper correction to 6,147.
US Dollar Index price forecast
Buyers drove the US Dollar Index (DXY) above the 50-day SMA (98.02) on Thursday, but bulls are struggling to maintain the breakout.
The flat moving averages and RSI near the midpoint don’t clearly favor either bulls or bears. If the price declines and falls below the 20-day EMA (97.74), it suggests the index may consolidate between 99 and 96.21 for a while.
Conversely, if the price rebounds from the 20-day EMA and surpasses the 99 level, it indicates positive sentiment. The index may then rise to 100.50 and eventually to the 102 level.
Bitcoin price forecast
BTC has been fluctuating between $107,000 and $124,474, reflecting indecision among bulls and bears regarding the next direction of movement.
The BTC/USDT pair will create a bearish double-top pattern if the price declines and drops below $107,000. This suggests that Bitcoin may have peaked in the near term. The pair could tumble to $100,000 and subsequently target $89,526.
On the other hand, if the price exceeds the moving averages, it indicates diminishing selling pressure. The pair could then climb to $117,500, a crucial level to monitor. Should buyers surpass the $117,500 resistance, an all-time high may be challenged.
Ether price forecast
ETH began a pullback from $3,815 on Thursday, expected to face selling pressure at the 20-day EMA ($4,262).
If buyers surpass the resistance at the 20-day EMA, Ether may rally to the resistance line. Sellers will likely attempt to halt the recovery at the resistance line, as a break and close above it could initiate a rally to $4,957.
Conversely, if the price declines from the 20-day EMA, it signals negative sentiment, raising the likelihood of dropping below $3,745. If this occurs, the ETH/USDT pair may plunge to $3,426.
XRP price forecast
XRP (XRP) continues to navigate within a descending triangle pattern, showing persistent bearish pressure.
If the price turns down from the moving averages, bears will attempt to sink the XRP/USDT pair below the $2.69 support. If successful, the pair will fulfill the bearish setup, potentially collapsing to $2.20.
Buyers must propel the price above the downtrend line to negate the negative pattern, which could trap aggressive bears and push the pair to $3.40, and later to $3.66.
BNB price forecast
BNB (BNB) rebounded from the 61.8% Fibonacci retracement level of $934 on Friday, signifying demand at lower levels.
The recovery is likely to face severe resistance at $1,034 and again at the all-time high of $1,083. If the price retracts from the overhead region and falls below $932, it suggests that the BNB/USDT pair may have peaked in the near term, potentially dropping to the 50-day SMA ($901).
Alternatively, a break and close above the $1,083 level would indicate a resumption of the upward trend, paving the way for further gains to $1,173.
Solana price forecast
SOL started a relief rally from $191 on Friday, expected to face resistance at the 20-day EMA ($216).
If the price declines from the moving averages, bears will aim to sink the SOL/USDT pair below $191. Successful attempts could see the Solana price drop to $185 and subsequently to $155.
This negative outlook may be invalidated if the price increases and crosses above the 20-day EMA, clearing the way for a retest of the $260 overhead resistance, where strong bear defense is expected.
Related: XRP price: Record quarterly close may trigger rally toward $15
Dogecoin price forecast
Dogecoin (DOGE) rebounded from the uptrend line on Friday, but the recovery faces resistance at the moving averages.
The descending 20-day EMA ($0.24) and RSI slightly below the midpoint suggest a minor edge for the bears. If the price falls and breaches the uptrend line, it implies that the DOGE/USDT pair may remain within the $0.14 to $0.29 range for an extended period.
The first indication of strength will be a break and close above the 20-day EMA, potentially leading to a retest of the strong overhead resistance at $0.29.
Cardano price forecast
Sellers drove Cardano (ADA) below the $0.78 support on Thursday but failed to maintain those lower levels.
The price recovered above $0.78 on Friday, and bulls are attempting to extend the relief rally to the moving averages. If the price declines from the 20-day EMA ($0.83), bears will again strive to push the ADA/USDT pair toward $0.68.
Conversely, if buyers drive the price above the moving averages, the Cardano price could reach the resistance line. A break and close above that resistance line indicates a bullish resurgence.
Hyperliquid price forecast
HYPE surged sharply from the $40 support on Friday, indicating strong buying at lower levels.
The HYPE/USDT pair has reached the moving averages, which represent a key level to watch closely. If the price drops from the moving averages, bears will strive to sink the pair below $40. If they succeed, the Hyperliquid price could decline to $35.50.
Conversely, if buyers push the price above the moving averages, it indicates the corrective phase may be over. Bulls will then aim to drive the pair to the all-time high at $59.41.
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.
