Key points:
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Bitcoin could challenge the $117,500 level if buyers secure a daily close above $114,000.
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Altcoins are trying to start a relief rally, but are still expected to face selling at higher levels.
Bitcoin (BTC) extended its recovery above $114,000 on Monday, indicating aggressive buying by the bulls. BTC remains stuck in a range, with analysts divided about the next directional move. Some expect BTC to start a bear phase, while others project a rally to a new all-time high.
Market participants have turned cautious due to BTC’s near-term uncertainty. BTC exchange-traded products (ETPs) recorded $719 in net outflows last week, per CoinShares’ weekly report. The altcoin picture was mixed; Ether (ETH) ETPs witnessed $409 million in outflows, but Solana (SOL) recorded $291 million in inflows.
As September comes to a close, BTC traders look positively toward October, which has historically seen an average rise of 21.89% since 2013, according to CoinGlass data. Bitcoin network economist Timothy Peterson said in a post on X that BTC’s bull phase spans from Oct. 11 to June 11, which gives a 50% chance of BTC surging to $200,000 by June 2026.
Could BTC break above its overhead resistance, pulling altcoins higher? 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) pulled back from 6,699 on Tuesday but found support at the 20-day exponential moving average (6,586) on Thursday.
The upsloping moving averages and the relative strength index (RSI) in the positive territory indicate that bulls are in control. If buyers thrust the price above 6,700, the index could resume its uptrend toward the 7,000 level.
Sellers will have to tug the price below the 20-day EMA to weaken the bullish momentum. The index may then plummet to the 50-day simple moving average (6,459). The bulls are expected to defend the 50-day SMA with all their might because a drop below it may trigger a deeper correction to 6,147.
US Dollar Index price prediction
Buyers propelled the US Dollar Index (DXY) above the 50-day SMA (98.02) on Thursday, but the bulls are struggling to hold on to the breakout.
The flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price turns down and breaks below the 20-day EMA (97.74), it suggests that the index may consolidate between 99 and 96.21 for a while longer.
On the contrary, if the price turns up from the 20-day EMA and breaks above the 99 level, it indicates a positive sentiment. The index may then climb to 100.50 and eventually to the 102 level.
Bitcoin price prediction
BTC has been oscillating between $107,000 and $124,474, indicating indecision between the bulls and the bears about the next directional move.
The BTC/USDT pair will complete a bearish double-top pattern if the price turns down and breaks below $107,000. That suggests the Bitcoin price may have topped out in the near term. The pair could plummet to $100,000 and subsequently to the pattern target of $89,526.
Conversely, if the price rises above the moving averages, it indicates that the selling pressure is reducing. The pair may then climb to $117,500, which is a critical level to watch out for. If buyers overcome the $117,500 barrier, the all-time high is likely to be tested.
Ether price prediction
ETH started a pullback from $3,815 on Thursday, which is likely to face selling at the 20-day EMA ($4,262).
If buyers overcome the resistance at the 20-day EMA, the Ether price could rally to the resistance line. Sellers will again attempt to halt the recovery at the resistance line as a break and close above it could open the doors for a rally to $4,957.
Instead, if the price turns down from the 20-day EMA, it signals a negative sentiment. That increases the possibility of a break below $3,745. If that happens, the ETH/USDT pair may tumble to $3,426.
XRP price prediction
XRP (XRP) continues to trade inside the descending triangle pattern, indicating that the bears have kept up the pressure.
If the price turns down from the moving averages, the bears will attempt to sink the XRP/USDT pair below the $2.69 support. If they manage to do that, the pair will complete the bearish setup. The XRP price may then collapse to $2.20.
Buyers will have to push and maintain the price above the downtrend line to invalidate the negative pattern. That may trap the aggressive bears, pushing the pair to $3.40 and later to $3.66.
BNB price prediction
BNB (BNB) bounced back from the 61.8% Fibonacci retracement level of $934 on Friday, indicating demand at lower levels.
The recovery…
cointelegraph.com