Key points:
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Bitcoin has pulled below $116,000, but select analysts expect buyers to step in at lower levels and arrest the decline.
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Select altcoins have reached critical support levels where the buyers are expected to mount a strong defense.
Bitcoin (BTC) attempted a recovery on Friday, but higher levels attracted selling. That has pulled the price under $116,000 as short-term traders are rushing to the exit.
Analyst Stockmoney Lizards said in an X post that BTC is witnessing a shakeout in both directions. Despite the correction, the analyst remains bullish, expecting BTC to find support around $118,000 to $119,000.
Veteran trader Peter Brandt told Cointelegraph that “BTC could hit a bull market high any day now,” if it follows its historical cycle pattern. However, he added that cycles could change, and there is a 50/50 possibility of that happening. In case of counter-cyclicality, Brandt expects BTC to rally to as high as $185,000.
What are the critical support and resistance levels to watch out for in BTC and the major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC has pulled back under the 20-day exponential moving average ($118,807), which is a vital near-term support for the bulls to defend.
If the price rebounds off the 20-day EMA with force, the bulls will attempt to push the BTC/USDT pair to the all-time high of $126,199. A break above the resistance could clear the path for a rally toward $141,948.
On the contrary, a close below the 20-day EMA suggests that the bulls are losing their grip. The pair could then slump to the 50-day simple moving average ($114,571). That indicates the Bitcoin price could extend its stay inside the $107,000 to $126,199 range for a while longer. Sellers will seize control on a close below $107,000.
Ether price prediction
The failure of the bulls to push Ether (ETH) above the resistance line on Wednesday attracted solid selling by the bears.
The Ether price turned down and has reached solid support at $4,060. Buyers are expected to defend the $4,060 to $3,745 support zone with all their might because a drop below it signals a possible short-term top. The ETH/USDT pair could then start a new downtrend toward $3,350.
Buyers will have to push the price above the resistance line to gain strength. The upside momentum is likely to pick up on a close above the $4,750 resistance.
BNB price prediction
BNB (BNB) has pulled back after a strong rally, but the dip is finding support near the 61.8% Fibonacci retracement level of $1,217.
If the price turns up from the current level, the bulls will attempt to push the price above the overhead resistance of $1,350. If they can pull it off, the BNB/USDT pair could resume the uptrend toward the next target objective of $1,440 and then $1,642.
The bears are likely to have other plans. They will sell the rallies and pull the price below $1,217. If they do that, the BNB price could slip to the 20-day EMA ($1,123), where the bulls are expected to resume their purchases.
XRP price prediction
XRP (XRP) has plunged close to the $2.69 support line, which is a critical level for the bulls to defend.
If the price breaks and closes below $2.69, the XRP/USDT pair will complete a descending channel pattern. That could accelerate selling and pull the XRP price to $2.33 and eventually to $2.20.
Buyers will have to push and sustain the price above the downtrend line to prevent the fall. The failure of a bearish pattern is a bullish sign as it traps the aggressive bears, resulting in a short squeeze.
Solana price prediction
Solana (SOL) bounced off the 50-day SMA ($217) on Wednesday, but the recovery was short-lived as the bears pulled the price below the moving averages on Friday.
The Solana price could drop to the support line, which is a crucial level for the bulls to defend. If the price turns up from the support line and breaks above the moving averages, it signals that the SOL/USDT pair could remain inside the ascending channel pattern for some more time.
Alternatively, a break below the support line suggests that the bulls have given up. That opens the doors for a fall to $175.
Dogecoin price prediction
Dogecoin (DOGE) has been taking support at the 50-day SMA ($0.24), but the failure to start a solid bounce signals a lack of demand at higher levels.
The bears will try to sink the price to the uptrend line, which is a crucial support to keep an eye on. If the price rebounds off the uptrend line and breaks above the moving averages, it suggests that the ascending triangle pattern remains intact. The DOGE/USDT pair may then climb to $0.27 and later to $0.29.
Conversely, a break and close below the uptrend line invalidates the bullish setup. That suggests the Dogecoin price may continue to oscillate between $0.14 and $0.29 for a few more days.
Cardano price prediction
Buyers tried to push Cardano (ADA) above the moving averages on Wednesday, but the bears held their ground.
Sellers will try to pull the price to the support line of the descending channel pattern, where the buyers are expected to step in.
Contrarily, if the Cardano price turns up from the current level and breaks above the moving averages, it signals buying on dips. That enhances the prospects of a rally above the resistance line. If that happens, the ADA/USDT pair could start an upward move to $0.95 and later to $1.02.
Related: XRP whales dump $50M per day: Will it crash the price?
Hyperliquid price prediction
Hyperliquid (HYPE) turned down from the 20-day EMA ($47.26) on Thursday and fell below the $43 support, signaling a negative sentiment.
If the price maintains below $43, the HYPE/USDT pair could drop to the $39.68 level. This is a critical level to watch out for because a close below $39.68 will complete a bearish head-and-shoulders pattern. That may start a downward move to $35.50 and then to $32.
Buyers will have to drive the Hyperliquid price above the moving averages to signal a comeback. The upside momentum could pick up after buyers thrust the price above the $51.87 resistance.
Chainlink price prediction
Chainlink (LINK) is struggling to rise above the resistance line, but a positive sign is that the bulls have not ceded much ground to the bears.
The bulls will again attempt to clear the overhead barrier. If they manage to do that, it signals that the corrective phase may be over. The Chainlink price could rally to $25.64 and subsequently to $27.
This positive view will be invalidated in the near term if the price turns down and breaks below $21. That could keep the LINK/USDT pair inside the descending channel for some more time.
Sui price prediction
Sui (SUI) has been trading inside a falling wedge pattern, which is typically considered a bullish setup if the breakout happens to the upside.
The bulls and the bears are engaged in a tough battle near the moving averages. If buyers push and maintain the price above the moving averages, the SUI/USDT pair could reach the downtrend line. Sellers are expected to aggressively defend the downtrend line because a break above it opens the doors for a rally to $4 and then to $4.44.
On the contrary, if the price turns down and breaks below $3.30, it suggests that the bears are trying to take charge. The Sui price may then slump to the support line.
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.
