Key Points:
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Bitcoin has broken past $117,500 resistance, and has opened the gate at $124,474 for a retest of its all-time high.
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Several altcoins have launched powerful relief rallys to inform solid purchases at lower levels.
Bitcoin (BTC) closed in September with profits of more than 5%, and the Bulls extended their profits by surpassing a tough overhead resistance of $117,500 on the first day of the new month.
Coinglass data shows that a positive monthly termination in September has historically followed an average return of over 53% in the fourth quarter. As history repeats itself, BTC could surge towards $170,000 by the end of the year.
Another positive indication is that analysts expect BTC to emulate gold’s strong bullish run. Crypto analyst and entrepreneur Ted Pillows said in a post on X that BTC will follow gold with an eight-week delay, predicting Q4 will grow to BTC.
Can BTC strength pull Altcoins higher? Analyze and explore the charts of the top 10 cryptocurrencies.
Bitcoin price forecast
The BTC was closed above Monday’s moving average, and the Bulls further strengthened their position by pushing prices above Wednesday’s resistance above $117,500.
The 20-day index moving average ($113,527) began to appear, with a relative strength index (RSI) above 61 suggesting momentum is in favor of buyers. If the price goes above $117,500, the BTC/USDT pair could challenge an all-time high of $124,474. Sellers are expected to defend the $124,474 level on all force, but if the buyer wins, the rally can be extended to $141,948.
This optimism will be denied in the near future if Bitcoin prices drop and fall below $107,000 support.
Ether Price Prediction
Ether (ETH) has risen above the 20-day EMA ($4,262), indicating a decline in sales pressure.
Prices could reach the resistance line. This is an important level to be aware of in the short term. If the buyer pushes the price over the resistance line, the ETH/USDT pair can try again at an all-time high of $4,957.
Conversely, if prices are reduced from the resistance line, it shows that bears will continue to sell at the rally. Sellers should suggest that the pair could have been top in the short term, falling below the ether price of $3,745 support.
XRP Price Forecast
XRP (XRP) bounces back from $2.69 support, reaching a moving average, indicating a solid purchase at a lower level.
Sellers try to maintain the XRP price within the pattern of the descending triangle by defending the downtrend line. On the downside, if you fall below $2.69, you’ll complete a bearish downward triangle pattern. This could accelerate sales and pull the XRP/USDT pair to $2.20.
Alternatively, near above the downtrend line disables the bearish setup. A negative pattern of failure is a sign of bullishness as the offensive bear may be in a hurry to close the short position. This could launch a rally ranging from $3.20 to $3.38.
BNB Price Prediction
BNB (BNB) was turned down from $1,036 on Monday, but the Bears are not allowing prices below the 20-day EMA ($976).
If prices increase power from current levels or 20-day EMA, there is a greater chance of breaks above $1,036. BNB/USDT pairs may gather at $1,083. Sellers try to defend the $1,083 level with great force. Because a break beyond that could start the next leg of the uptrend at $1,173.
Contrary to this assumption, if BNB prices fall below $934, it marks the start of a deeper revision to the 50-day SMA ($909), followed by $842.
Solana price forecast
Sellers are trying to stop Solana (SOL) recovery with a 20-day EMA ($216), but the Bulls are still under pressure.
It suggests that the revision phase may end if buyers push prices above the uptrend line. The Sol/USDT pair could go up to $230 and then $260. Sellers are expected to be hard at the $260 level.
This positive view will be void in the short term if prices drop and fall below $190 support. In that case, Solana’s price could drop to $175, indicating that the pair could extend their stay longer within the $110-$260 range.
Dogecoin price forecast
Dogecoin (Doge)’s tight range trading was resolved on Wednesday between the Uptrend Line and the 50-day SMA ($0.23).
When prices exceed the 20-day EMA ($0.24), it suggests that the Bulls are trying to make a comeback. The price of Dogecoin can rise to $0.26, then rise to a rigid resistance of $0.29.
Sellers need to subtract prices below the upward trend to gain an advantage. If they can pull it apart, the Doge/USDT pair could drop to $0.21 and then to $0.19. This price could be consolidated between $0.14 and $0.29 for a further few days.
Cardano price forecast
Sellers tried to pull Cardano (ADA) below the $0.78 level on Tuesday, but the Bulls held the ground.
Buyers are trying to strengthen their position by pushing prices above the moving average. If they can accomplish that, the ADA/USDT pair could converge on the line of resistance. Sellers will strive to stop recovery at the resistance line, but if the buyer passes through, Cardano’s price could skyrocket to $1.02.
On the downside, breaks and closes below the $0.75 level complete the pattern of descending triangles. This will make the door $0.68.
Related: Bitcoin pushes 118K for $118K as analysis calls us to shut down “non-events”
High lipid price forecast
Hyperliquid recovery has reached a moving average. This is an important level to be aware of.
The 20-day EMA ($48.09) and the RSI just below the midpoint show a slight edge for the bear. Sellers should strengthen their position at a high lipid price below the $42.89 support. The hype/USDT pair could drop to $40, where buyers are expected to intervene.
Conversely, breaks and close above the moving average signal that the Bulls are in control. The pair then could go up to $54.50 and then go up to $59.
Chain Link Price Prediction
ChainLink is trading within a downward channel pattern, indicating that the Bears are on sale at the rally.
Sellers are expected to actively defend the zone between the 20-day EMA ($22.25) and the resistance line. If the price drops significantly from the overhead zone, the link/USDT pair may remain in the channel for more time.
The first sign of strength is a break and close above the resistance line. If that happens, it suggests that the correction phase may have ended. The price of the chain link will rise to $25.64 before reaching $27, with the bear expected to pose a strong challenge.
Avalanche price forecast
Avalanche (Avax) Relief Rally faces resistance near the 20-day EMA ($30.12), but the positive sign is that the Bulls have not given up on the ground much to the bear.
When buyers drive prices above $31.25, the Avax/USDT pair can gain momentum and attempt to gather to $36.17. Sellers are expected to defend the $36.17 level vigorously, but if the Bulls win, the rally could reach $45.
Instead, prices drop and fall below $27.38, indicating that the bears are still under pressure. Avalanche prices can drop to $22.50 and you can play between $15.27 and $36.17.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.