Key points:
Bitcoin may drop to the range of $105,000 to $100,000 over the weekend.
Ether has experienced a recent pullback but is holding above the critical support level of $4,094.
Bitcoin (BTC) fell to approximately $108,100 on Friday, marking its lowest point since July 8, indicating a potential loss of bullish momentum. Veteran trader Peter Brandt mentioned on X that BTC must exceed $117,570 to neutralize the last seven weeks, which could suggest a double top.
Despite this short-term weakness, network economist Timothy Peterson expressed optimism regarding BTC’s future for the remainder of the year. In a post on X, he noted that BTC has historically risen 70% of the time in the four months leading up to Christmas, averaging a gain of 44%.
BTC’s fluctuating performance has led investors to pivot towards Ether (ETH). Since August 21, BTC exchange-traded funds have attracted around $350 million, while ETH ETFs have garnered $1.87 billion in inflows, according to CoinGlass.
Nansen research analyst Nicolai Sondergaard explained to Cointelegraph that investors are taking profits after BTC’s upward movement and are “shifting into other tokens for potential gains.”
What are the key support levels to monitor for BTC and major altcoins? Let’s take a look at the charts of the top 10 cryptocurrencies for insights.
Bitcoin price prediction
BTC initiated a recovery from $108,666 on Tuesday, but this momentum faded near the 20-day exponential moving average ($113,977) on Thursday.
The price sharply declined on Friday, dropping below the $108,666 support. If the price remains below this level, the BTC/USDT pair risks falling to $105,000 and possibly to the psychological support at $100,000.
The bulls need to push prices back above the moving averages to indicate a reduction in selling pressure. The Bitcoin price could then challenge the all-time high of $124,474.
Ether price prediction
ETH bounced from the 20-day EMA ($4,378) on Tuesday, but the bears halted the recovery at $4,663.
The price retraced and fell below the 20-day EMA on Friday. If the ETH/USDT pair closes below the 20-day EMA, the next level to watch is the breakout point of $4,094. Buyers are expected to actively defend the range between $4,094 and the 50-day SMA ($3,939) since a breakdown below this area could deepen the pullback to $3,354.
If the price rallies from the current level of $4,094, it indicates strong buying interest on dips. The bulls will then aim to push the Ether price above the $4,788 to $4,868 range. Successful movement through this zone could lead the pair towards $5,000 and then to $5,662.
XRP price prediction
The failure of bulls to elevate XRP (XRP) above the 20-day EMA ($3) in recent days shows that the bears are fiercely defending this level.
The bears will attempt to strengthen their hold by pushing XRP price towards solid support at $2.73. Buyers are anticipated to defend this $2.73 level vigorously as a close below it might trigger a fall to $2.20.
Any sign of strength will come from a break and close above the 20-day EMA, suggesting that selling pressure is abating. The XRP/USDT pair could then rise to the downtrend line, which is expected to serve as a robust barrier. Buyers will need to break through this downtrend line to indicate the end of the correction.
BNB price prediction
BNB (BNB) is currently witnessing a fierce contest between buyers and sellers at the breakout level of $861.
The upward-sloping moving averages suggest a buyers’ advantage, but the negative divergence on the RSI indicates that bullish momentum may be waning. Sellers need to pull the price below the 20-day EMA ($844) to gain an upper hand. Should this occur, the BNB/USDT pair may drop to the 50-day SMA ($794).
Conversely, if the price rebounds from the 20-day EMA and surpasses $900, it would signify ongoing buyer control. This could see a rally extending to the psychological level of $1,000.
Solana price prediction
Solana (SOL) bounced from the 20-day EMA ($193) on Tuesday and climbed above the $210 threshold on Thursday.
However, sellers managed to pull the price back below $210. If it sustains beneath this level, aggressive bulls may become trapped, potentially causing long liquidations and a drop toward the uptrend line.
If the price falls below the uptrend line, the SOL/USDT pair may trade within a range between $155 and $210 for some time. In contrast, a significant bounce off the 20-day EMA ($193) would indicate demand at lower levels. The bulls would then make a renewed attempt to push Solana’s price toward $240 and possibly $260.
Dogecoin price prediction
Dogecoin (DOGE) rebounded from the $0.21 support on Tuesday, but the bulls failed to lift the price above the moving averages.
The price sharply declined from the moving averages, indicating robust selling by bears at every minor increase. This raises the risk of a breakdown below the $0.21 level. If this occurs, Dogecoin price could fall to $0.19, followed by $0.16.
To suggest that the DOGE/USDT pair might remain within the $0.21 to $0.26 range for a while longer, bulls need to drive and stabilize the price above the moving averages.
Cardano price prediction
Cardano (ADA) has retreated from the 20-day EMA ($0.85) to the pivotal support at the 50-day SMA ($0.82).
A breakdown of the 50-day SMA would favor the bears, with the ADA/USDT pair at risk of dropping to $0.76 and then to $0.68. Buyers are likely to defend the $0.68 level vigorously.
If the price rises above the 20-day EMA, it indicates bulls are attempting a comeback. Cardano’s price may then reach the downtrend line, where sellers are expected to re-emerge. A close above the downtrend line would indicate that the correction might have concluded.
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 could not maintain the elevated levels.
Bears are attempting to strengthen their grip by driving the price below the 20-day EMA. If they succeed, the LINK/USDT pair could deepen the correction toward the 50-day SMA ($20.23).
Buyers need to defend the 20-day EMA vigorously and swiftly push the price back above $27 to maintain control. Should they do so, Chainlink’s price could initiate the next leg of the uptrend to $31 and subsequently to $36.
Hyperliquid price prediction
Hyperliquid (HYPE) broke above the $49.88 resistance on Wednesday, but bulls couldn’t uphold the higher value.
The price has retreated to the moving averages, a critical support level to monitor. If the price bounces back from the moving averages strongly, bulls will aim to push the HYPE/USDT pair above $51.19. If they succeed, the Hyperliquid price could surge towards the target pattern of $64.25.
This optimistic outlook will be invalidated if the price continues to decline and breaches the uptrend line, which could see the pair drop to $40 and subsequently to $36.
Sui price prediction
Sui (SUI) has been fluctuating within a broad range between $3.26 and $4.44 for several days.
The price rebounded from the $3.26 support on Tuesday, yet bulls could not surpass the 20-day EMA ($3.57). This led to renewed selling pressure, causing the SUI/USDT pair to revisit $3.26. A repeated test of a support level typically weakens its integrity. A breach at the $3.26 mark could send SUI prices spiraling towards $3.
To ensure the price remains within this range longer, buyers must push and stabilize 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.
