Important points:
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Bitcoin and several altcoins have rebounded from Friday’s lows, but higher levels are likely to attract strong resistance from the bears.
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BTC price and some altcoins may be range-bound for several days.
The US stock market, Bitcoin (BTC), and altcoins are struggling to recover from the sharp decline seen on Friday following US President Donald Trump’s announcement of 100% tariffs on China.
The decline was steep, with around $20 billion liquidated in 24 hours, according to CoinGlass data. Some traders who lacked proper risk management and set high leverage could have faced huge losses.
This flushed some of the froth out of the system and paved the way for stronger long-term investors to come in at the push. The rebound has begun, but a runaway rally may not start anytime soon.
Economist Timothy Peterson told Cointelegraph on Sunday that BTC is likely to enter a three- to four-week “cooling-off period” before resuming its upward trend, albeit at a “slower pace than before.”
Could BTC and altcoins grow based on the recovery, or will higher levels attract sellers? To find out, let’s analyze the charts of the top 10 cryptocurrencies.
S&P 500 index price prediction
The S&P 500 Index (SPX) fell sharply on Friday, falling below its 20-day index moving average (6,652), indicating profit-taking by traders.
The bulls bought a dip to the 50-day simple moving average (6,538), pushing the price up to the 20-day EMA. If the price drops sharply from the 20-day EMA, the bears will once again attempt to push the index below the 50-day SMA. If successful, the correction could deepen to 6,350 and even 6,200.
Instead, if the price closes above the 20-day EMA, it would indicate that a correction may have ended. The index could then retest its all-time high of 6,764.
US dollar index price prediction
The US dollar index (DXY) closed above its moving average on Tuesday, suggesting that the bears are losing control.
The bulls pushed the price above the downtrend line on Thursday, but were unable to further consolidate the breakout. Sellers will likely try to push the price below the 20-day EMA (98.26), which is an important level to watch in the short term.
A strong rebound from the 20-day EMA increases the chances of a breakout of 100.50. After that, the index could rise to the 102 level.
Conversely, a close below the moving average suggests that the market has refused to break above the downtrend line. The index may then fall to the 97 level before reaching solid support at 96.21.
Bitcoin price prediction
Sellers failed to complete BTC’s double top pattern as they failed to achieve a close below the $107,000 support level.
Bitcoin prices fell to $102,000 on Friday, but quickly recovered sharply, indicating buying at lower levels. The BTC/USDT pair is expected to face selling at the 61.8% Fibonacci retracement level at $116,955.
However, if buyers overcome the resistance, the pair could rise to $121,020 and then reach an all-time high of $126,199.
Conversely, if the price falls sharply from current levels, $109,500 and then $107,000 could provide support. Buyers are expected to fiercely defend the $107,000 level. If it falls below this, the risk of falling below $100,000 increases.
Ether price prediction
Sellers pushed Ether (ETH) below a descending channel pattern on Friday and Saturday, but were unable to sustain that low level.
Ethereum price returned to the channel on Sunday, indicating solid demand at lower levels. If the price drops sharply from the moving averages, the bears will once again try to pull the ETH/USDT pair below the channel. If they are successful, it would suggest that the pair could top out in the short term.
If, contrary to this assumption, the price breaks above the moving average, it indicates that the pair may remain within the channel for some time. A breakout and close above the resistance line increases the likelihood that the uptrend will resume.
BNB price prediction
BNB (BNB) has experienced significant volatility over the past few days. The bears pushed the price below the 20-day EMA ($1,145) on Friday, but the bulls regained that level on Saturday.
This suggests positive sentiment, with the dip being considered a buying opportunity. BNB price surged to an all-time high of $1,375 on Monday, but bulls are struggling to maintain that high level. This indicates a sell on rally.
The bears will try to strengthen their position by pushing the price below the 20-day EMA. If that happens, it would signal a near-term ceiling.
Conversely, if the price rises and closes above $1,350, it would indicate that the bulls remain in control. After that, the BNB/USDT pair could rise to $1,609.
XRP price prediction
XRP (XRP) completed a bearish descending triangle setup on Friday, falling well below the pattern target of $1.72.
A small positive is that XRP price has recovered solidly from the $1.25 low, suggesting aggressive buying at lower levels. This rally is expected to reach the 20-day EMA ($2.77) where the bears are expected to intervene. If the price turns down from the 20-day EMA, the XRP/USDT pair could fall to $2.20 and then $2.
The bulls will need the price to break above the downtrend line to signal a comeback. Until then, Rally is likely to be sold.
Solana price prediction
Solana (SOL) broke below an ascending channel pattern on Friday, indicating that the bears are trying to take control.
Buyers did not give up and bought the dip to $168. This started a sharp recovery on Sunday, pushing the SOL/USDT pair out of the channel and into the breakdown level.
Related: XRP recovers 66% from price crash, regaining $75 billion market value
If the price declines and falls below $168, it would indicate that sentiment has turned negative. This increases the likelihood of a fall to $155.
The bulls will get back into the game after pushing Solana price above the moving averages. Thereafter, it could move towards the overhead resistance level at $260.
Dogecoin price prediction
Sellers pushed Dogecoin (DOGE) below the $0.14 support level on Friday, but were unable to achieve a close below it.
Dogecoin price has rebounded sharply and re-entered the wide range of $0.14 to $0.29. Sellers may gather as the bulls try to push the price up to the 20-day EMA ($0.23). If the price falls below the 20-day EMA, the DOGE/USDT pair could fall to $0.18 and then $0.16.
The next trend move may begin after the price closes above $0.29 or below $0.14. Until then, it is likely to remain within a range.
Cardano price prediction
Cardano (ADA) broke out of a descending channel pattern on Friday and plummeted to a panic low of $0.27.
The lower level attracted strong buying by the bulls, pushing the price out of the channel and towards the breakdown level. Sellers are expected to pose a strong challenge in the zone between the support line and the 20-day EMA ($0.78).
If Cardano price drops sharply from the resistance zone, it suggests that the bears are still in control. After that, the ADA/USDT pair could fall to $0.60 and eventually to $0.50.
This negative view will be negated in the short term if the price continues to rise and breaks above the resistance line.
Super liquidity price prediction
Hyper Liquid (HYPE) completed a head-and-shoulders pattern on Friday, plummeting to its target target of $21.
Solid buying at lower levels pushed the price back to the neckline of the H&S pattern where the bears are expected to mount a strong defense. If the price falls from the neckline, sellers will try to push the HYPE/USDT pair below the support at $35.50. If successful, HyperLiquid’s price could fall to $30.50.
The buyer likely has other plans. They are trying to push prices above the moving averages, suggesting that the correction phase may be nearing completion.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk and readers should conduct their own research when making decisions.