Key points:
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Bitcoin risks falling into the $105,000 to $100,000 range over the weekend.
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Ether has pulled back in the near term, but remains above the crucial $4,094 support.
Bitcoin (BTC) dropped near $108,100 on Friday, its lowest level since July 8. That suggests the bulls are losing their grip. Veteran trader Peter Brandt said in a post on X that BTC needs to climb back above $117,570 to “discount the past 7 weeks as a possible double top.”
Despite the near-term weakness, network economist Timothy Peterson sounded bullish on BTC’s prospects for the rest of the year. In a post on X, Peterson said that BTC has risen 70% of the time in the last four months leading up to Christmas, recording an average gain of 44%.
BTC’s uncertainty seems to be driving investors toward Ether (ETH). Since Aug. 21, BTC exchange-traded funds have recorded about $350 million in inflows while ETH ETFs have seen $1.87 billion in inflows, according to CoinGlass.
Nansen research analyst Nicolai Sondergaard told Cointelegraph that investors are booking profits after BTC’s up move and are “moving into other tokens to catch potential upside.”
What are the important support 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 started a recovery from $108,666 on Tuesday, but the recovery fizzled out near the 20-day exponential moving average ($113,977) on Thursday.
The price turned down sharply on Friday and fell below the $108,666 support. If the price maintains below $108,666, the BTC/USDT pair could plummet to $105,000 and eventually to psychological support at $100,000.
The bulls will have to push the price back above the moving averages to suggest that the selling pressure is reducing. The Bitcoin price may then challenge the all-time high of $124,474.
Ether price prediction
ETH turned up from the 20-day EMA ($4,378) on Tuesday, but the bears stalled the recovery at $4,663.
The price turned down and broke below the 20-day EMA on Friday. If the ETH/USDT pair closes below the 20-day EMA, the next stop could be the breakout level of $4,094. Buyers are expected to aggressively defend the zone between $4,094 and the 50-day SMA ($3,939) because a break below it may deepen the pullback to $3,354.
Conversely, if the price turns up from the current level of $4,094, it suggests solid buying on dips. The bulls will then try to drive the Ether price above the $4,788 to $4,868 zone. If they succeed, the pair could soar to $5,000 and, after that, to $5,662.
XRP price prediction
Failure of the bulls to push XRP (XRP) back above the 20-day EMA ($3) in the past few days signals that the bears are fiercely defending the level.
The bears will try to strengthen their position by pulling the XRP price to the solid support at $2.73. Buyers are expected to defend the $2.73 level with all their might because a close below it could open the gates for a fall to $2.20.
The first sign of strength will be a break and close above the 20-day EMA. That suggests the selling pressure could be reducing. The XRP/USDT pair may then climb to the downtrend line, which is likely to act as a stiff barrier. Buyers will have to pierce the downtrend line to suggest that the correction may be over.
BNB price prediction
BNB (BNB) has been witnessing a tough battle between the buyers and sellers at the breakout level of $861.
The upsloping moving averages signal an advantage to buyers, but the negative divergence on the RSI suggests that the bullish momentum may be weakening. Sellers will have to tug the price below the 20-day EMA ($844) to gain the upper hand. The BNB/USDT pair may then tumble to the 50-day SMA ($794).
Instead, if the price turns up from the 20-day EMA and breaks above $900, it indicates that the buyers remain in control. The rally could then extend to the psychological level of $1,000.
Solana price prediction
Solana (SOL) rebounded off the 20-day EMA ($193) on Tuesday and rose above the $210 barrier on Thursday.
However, the bears sold at higher levels and have pulled the price back below $210. If the price maintains below $210, some aggressive bulls may get trapped. That could trigger long liquidation, pulling 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 some time.
On the other hand, a solid bounce off the 20-day EMA ($193) signals demand at lower levels. The bulls will then make one more attempt to drive Solana’s price toward $240 and eventually to $260.
Dogecoin price prediction
Dogecoin (DOGE) bounced off the $0.21 support on Tuesday, but the bulls…
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