Key points:
- Bitcoin’s rally through $79,500 opens the door to a move toward $84,000.
- Ether, Dogecoin and Hyperliquid are showing strength, but the other major altcoins are yet to pick up momentum.
Bitcoin (BTC) opened the new week with a rally above $80,500, suggesting the bulls are attempting to take charge. Analysts are closely watching the $80,000 level, as some believe a failure to close above it could trigger a move toward $60,000.
However, crypto analyst Matthew Hyland said in a post on X that traders calling BTC’s fall to $60,000 and lower ‘will be the ones flipping bullish late above $90K.”
BTC’s 30-day liquidation map shows that a rally above $84,000 would trigger $2.85 billion worth of short liquidations across all exchanges.
Crypto market data daily view. Source: TradingView
A positive sign for the bulls is that BTC’s rise continues to be supported by institutional investors. Capriole Investments founder Charles Edwards said in a post on X that institutions have been “slurping up 500%+ of Bitcoin’s daily mined supply.” Such instances in the past have boosted prices by more than 24% in the following month. If history repeats, BTC may surge to around $96,000.
Could BTC and the major altcoins sustain the breakout? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index price prediction
The S&P 500 Index (SPX) remains in a strong uptrend, rising to a new all-time high of 7,272 on Friday.
SPX daily chart. Source: Cointelegraph/TradingView
The upsloping 20-day exponential moving average (7,043) indicates an advantage to buyers, but the relative strength index (RSI) near the overbought zone signals that a minor consolidation or correction is possible in the near term.
The 7,000 level is the crucial support to watch out for on the downside. A solid bounce off the 7,000 level suggests that the bulls have flipped it into support. That improves the prospects of a rally to 7,500.
On the contrary, a close below the 7,000 support may sink the index to the 50-day simple moving average (6,827).
US Dollar Index price prediction
The US Dollar Index (DXY) has been stuck between the 50-day SMA (98.97) and the 97.74 support.
DXY daily chart. Source: Cointelegraph/TradingView
The downsloping 20-day EMA (98.61) and the RSI in the negative territory indicate that the bears are at a slight advantage. If the price breaks below the 97.74 support, the index may tumble toward the 96.21 level.
Conversely, a close above the 50-day SMA suggests that the bulls are on a comeback. The index may rally to the 100.54 resistance level, where buyers are expected to encounter solid selling pressure from bears.
Bitcoin price prediction
BTC has broken above the $79,500 resistance, signaling the resumption of the uptrend toward $84,000.
BTC/USDT daily chart. Source: Cointelegraph/TradingView
The uptrend is expected to face solid selling pressure at $84,000, but if the bulls prevent the BTC price from dipping below the 20-day EMA ($76,634), the possibility of a breakout increases. If the $84,000 level is broken, the BTC/USDT pair may surge toward the pattern target of $92,000.
Time is running out for the bears. They will have to swiftly yank the price below $76,000 to weaken bullish momentum. The pair may then tumble to the 50-day SMA ($72,798).
Ether price prediction
Ether (ETH) rose above the 20-day EMA ($2,298) on Friday and is marching toward the $2,465 overhead resistance.
ETH/USDT daily chart. Source: Cointelegraph/TradingView
Sellers will attempt to stall the rally at the $2,465 level, but if the bulls prevail, the ETH/USDT pair may jump to the resistance line. If the ETH price turns down sharply from the resistance line and breaks below the 20-day EMA, it suggests the pair may remain within the channel for some time.
On the other hand, a break and close above the resistance line signals that the bulls are back in control. The pair may then surge toward the $3,050 level.
XRP price prediction
Buyers have pushed XRP (XRP) above the moving averages, opening the door to a rally toward the downtrend line.
XRP/USDT daily chart. Source: Cointelegraph/TradingView
The flattish moving averages and the RSI just above the midpoint do not give either bulls or bears a clear advantage. Buyers will gain the upper hand on a close above the $1.61 level. The XRP/USDT pair may then rally to $2, then to $2.40.
Contrary to this assumption, if the XRP price turns down from the $1.61 level, it would suggest that bears are active at higher levels. That may extend the pair’s stay inside the $1.27 to $1.61 range for a while.
BNB price prediction
BNB (BNB) has been trading near its moving averages over the past few days, indicating indecision between bulls and bears.
BNB/USDT daily chart. Source: Cointelegraph/TradingView
The flattish moving averages and the RSI just above the midpoint suggest that the BNB/USDT pair may remain inside the $570 to $687 range for a few more days.
The next trending move is expected to begin on a close above $687…
cointelegraph.com