Price Predictions of Major Cryptocurrencies.

Key points:

• Buyers will have to drive Bitcoin above $94,589 to open the gates for a retest of the psychological level of $100,000.

• Ether is showing strength, but several other major altcoins are struggling to sustain their rebound. 

Bitcoin (BTC) pulled back from $94,589 on Tuesday, but the bulls are striving to maintain the price above $92,000. Market participants will closely watch Fed Chair Jerome Powell’s news conference, as well as the dot plot of individual Fed officials’ rate expectations, on Wednesday.

While some analysts believe that a bottom is in, others believe the current relief rally is a dead-cat bounce, which is likely to be sold into. Pseudonymous analyst Colin Talks Crypto said in a post on X that BTC could plunge to the $74,000-$77,000 zone. 

The near-term uncertainty in BTC’s price action has not deterred Michael Saylor’s Strategy from expanding its BTC treasury. Strategy purchased 10,624 BTC for about $962.7 million at an average price of $90,615 last week. That boosted Strategy’s total holding to 660,624 BTC bought at an average price of $74,696.

What are the crucial support levels to watch out for in BTC and major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

BTC closed above the 20-day exponential moving average ($91,583) on Tuesday, but the bulls failed to sustain the price above the $94,150 resistance.

If the Bitcoin price turns up from the 20-day EMA and closes above $94,589, it signals the possibility of a rally to the breakdown level of $100,000. Sellers are expected to defend the $100,000 level with all their might, as a close above it could catapult the BTC/USDT pair to $107,000. Such a move suggests that the corrective phase may be over.

Instead, if the price turns down sharply and breaks below $87,719, it indicates that the bears continue to sell on rallies. The pair may then slide to $83,822.

Ether price prediction

Ether’s (ETH) recovery has reached the breakdown level of $3,350, indicating solid buying at lower levels.

The 20-day EMA ($3,116) has started to turn up gradually, and the relative strength index (RSI) is in the positive territory, indicating that the bulls are attempting a comeback. A close above $3,350 clears the path for a rally to $3,659 and then to $3,918.

Sellers will have to pull the Ether price back below the 20-day EMA to retain the advantage. If they do that, it suggests that the $3,350 level has flipped into resistance. The ETH/USDT pair could then dive to $2,716.

XRP price prediction

XRP (XRP) has been trading below the 20-day EMA ($2.12) for the past few days, but the bears have failed to sink the price to the support line of the descending channel pattern.

The bulls will try to strengthen their position by pushing the price above the 20-day EMA. If they succeed, the XRP/USDT pair could rally to the 50-day simple moving average ($2.26) and then to the downtrend line. 

On the contrary, if the XRP price turns down and breaks below $1.98, it suggests that the bears remain in control. The pair could slump to the support line of the channel and then to the $1.61 level. 

BNB price prediction

BNB (BNB) has been witnessing a tough battle between the bulls and the bears at the 20-day EMA ($894).

The flattening 20-day EMA and the RSI just below the midpoint suggest a balance between supply and demand. The BNB/USDT pair could swing between $791 and $1,020 for a few days.

Buyers will have to propel the BNB price above the $1,020 level to indicate that the corrective phase may be over. The pair may then attempt a rally to $1,182. On the downside, a break below $791 could sink the pair to $730.

Solana price prediction

Buyers are attempting to maintain Solana (SOL) above the 20-day EMA ($138), but the bears have held their ground.

The flattening 20-day EMA and the RSI just below the midpoint suggest that the bearish momentum is weakening. If buyers clear the 20-day EMA resistance, the SOL/USDT pair could rise to the 50-day SMA ($154) and thereafter to $172. 

On the contrary, a break and close below the $126 support signals the resumption of the downward move. The Solana price could tumble to $110 and eventually to the solid support at $95.

Dogecoin price prediction

Buyers have successfully defended the $0.14 support in Dogecoin (DOGE) but are struggling to maintain the price above the 20-day EMA ($0.15).

If the price turns down sharply from the 20-day EMA and breaks below $0.14, it signals that the bears remain in control. The Dogecoin price could then plummet to the Oct. 10 low of $0.10.

Alternatively, if buyers…