Key points:
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The failure of the bulls to hold Bitcoin above $94,050 led to renewed selling, opening the doors for a decline to $87,700 and then to $84,000.
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Most major altcoins remain under pressure and threaten to challenge recent lows.
Bitcoin (Bitcoin) is stuck within a narrow range between $94,588 and $89,260, indicating indecision between the bulls and the bears. Prediction markets do not expect the bulls to take over in the near term, giving only a point 30% chance of BTC reaching $100,000 Before January 1.
According to cryptocurrency analyst Darkfost, BTC is struggling to recover Due to the lack of incoming liquidity, specifically from stable currencies. Cryptocurrency markets will have to attract new BTC liquidity to start a “real uptrend.”
Some analysts expect Bitcoin to fall below its recent low of $80,600. Trader Roman said in a post on X that BTC is likely to fall to $76,000Low interest rates will not be able to prevent this.
What are the crucial support and resistance levels to pay attention to in BTC and major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price forecast
BTC’s recovery is facing resistance at the 50% Fibonacci retracement level at $94,050, indicating that the bears are active at higher levels.
There is support at $87,700 and then at $84,000. A break below $84,000 opens doors for a retest of the November 21 low at $80,600.
Buyers will need to push Bitcoin price above the $94,050 resistance level to signal strength. The BTC/USDT pair may then rise to the 50-day simple moving average (SMA) ($97,411).
The bullish move is expected to face significant selling in the area between the 50-day simple moving average and the psychological level at $100,000. A close above $100,000 signals that the bulls are back in the game.
Ethereum price prediction
ether (Ethereum) fell from the $3,350 level on Thursday, and the bears are trying to keep the price below the 20-day Exponential Moving Average (EMA) ($3,125).
If they succeed, it indicates that the bears are still selling on the rallies. Ether price may fall to $2,907 and later to $2,716. ETH/USDT could resume its downtrend with a close below $2,623.
Conversely, if the price rises from the current level and breaks above the $3,350 resistance level, this indicates the beginning of a new upward movement. The pair may rise to $3,918 and then to $4,250.
BNB price forecast
National Bank of Bahrain (BNB Bank) has been trading near the 20-day EMA ($892) over the past few days, indicating a balance between buyers and sellers.
The flat 20-day EMA and the RSI just below the midpoint indicate a range-bound move between $791 and $1,020 over the next few days.
Sellers will have to cut the BNB price below the $791 level to start the next phase of the downtrend. BNB/USDT could then collapse to $730. On the upside, a close above $1,020 indicates that the correction may be over. The pair could then rise to $1,182, which may act as a resistance level.
XRP price prediction
ripple(XRP) is still stuck inside the descending channel pattern, indicating that the downward movement is in control.
The bulls will have to push the XRP price above the 50-day simple moving average ($2.25) to indicate strength. The XRP/USDT pair may then rise to the downtrend line, which is a vital level to pay attention to. A close above the downtrend line signals the bulls are back in the driver’s seat.
The bears will have to cut the price below the $1.98 level to pave the way for a drop to the support line and then to the critical level at $1.61.
Solana price forecast
Long tail on Solana (Sol) Thursday’s candlestick shows that the bulls are aggressively defending the $126 level.
The bulls will have to push Solana’s price above the 50-day SMA ($152) to signal a potential trend change in the near term. The SOL/USDT pair could then rise to $172 and then to $190.
On the other hand, a break and close below $126 indicates a resumption of the downward movement. The pair may fall to $100, and then to the strong support level at $95.
Dogecoin price forecast
Dogecoin (Doug) fell from the 20-day EMA ($0.14) on Wednesday, suggesting that bears are selling into every slight rally.
If the price continues to decline and closes below the $0.13 support level, this indicates the beginning of a new downward movement. The DOGE/USDT pair could then fall to the October 10 low of $0.10, which would likely attract buyers.
The first sign of strength will be a breakout and close above the 20-day EMA. This indicates that the bulls are strongly defending the $0.14 level. Dogecoin price may rise to the 50-day simple moving average ($0.16) and later to $0.19.
Cardano price prediction
cardano (Ada) has fallen from the breakdown level of $0.50 on Wednesday, suggesting that the bears are trying to flip the level back to resistance.
A flat 20-day moving average ($0.44) and the relative strength index (RSI) in negative territory indicate a slight advantage for the bears. There is support at $0.40 and then at $0.37. If sellers pull the Cardano price below $0.37, ADA/USDT could fall to $0.31 and possibly to the October 10 intraday low of $0.27.
Buyers will have to push the price and keep it above the $0.50 level to indicate a return. The pair could then rise to $0.60 and then to $0.70 later.
Related to: Ether price rose 260% the last time this happened: Can ETH reach $5K?
Bitcoin Cash price prediction
Bitcoin Cash (Biosafety Clearing-House) from the 20-day EMA ($560) on Thursday, indicating positive sentiment.
The bulls will seek to push the Bitcoin Cash price above the $607 level and challenge the general resistance at $651. Sellers are expected to defend the $651 level with all their might, as a break above it opens doors for a rise to $720.
The bears will have to cut the price below the moving averages to get the upper hand. If they can do this, it suggests that the BCH/USDT pair could range between $607 and $443 for some time.
Excessive liquids price forecast
Sellers tried to pull Hyperliquid (HYPE) lower on Thursday, but the long tail on the candlestick shows buying by the bulls.
The HYPE/USDT pair could reach the 20-day EMA ($31.91), which is a critical level to pay attention to. If the price drops sharply from the 20-day EMA, the bears will again try to resume the downtrend.
Conversely, a break above the 20-day EMA indicates that selling pressure is declining. Hyperliquid price could then rise to the 50-day simple moving average ($37.23). A close above the 50-day simple moving average indicates that the corrective phase may be over.
Chainlink price prediction
Chainlink (connection) Trading occurred between moving averages over the past few days, indicating a balance between supply and demand.
Trading in a narrow range is likely to be followed by range expansion. If the price breaks and closes above the 50-day simple moving average ($14.71), this indicates that the bulls have outmaneuvered the bears. LINK/USDT could then rise to $19.06.
Alternatively, a sharp decline below the 20-day EMA ($13.84) suggests that the bears are still in control. Chainlink price could then fall to the strong support level at $10.94, where buyers are expected to step in.
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