Key Points:
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A solid influx into the spot Bitcoin ETF shows that the Bulls are back in the driver’s seat and a rally to a new all-time high is likely.
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BNB is leading the Altcoin recovery, with some Altcoins poised to surpass overhead resistance levels.
Bitcoin (BTC) rose to nearly $123,900 on Friday, continuing its march towards an all-time high of $124,474. The BTC recovery is driven by strong demand from the Bulls, with the US Spot BTC Exchange-Traded Funds logging $2.25 billion inflows since Monday, according to data from Farside Investors.
Analysts hope that BTC will surge to its highest ever high. Capriole Investments founder Charles Edwards told Cointelegraph that BTC could surge to $150,000 by the end of the year as investors seek safe investments along with gold.
All signs indicate a possible continuation of the upward trend, but some analysts are cautious. Trader Roman said in a post on X that the BTC chart’s relative strength index (RSI) indicators show bearish divergence both in weekly and monthly time frames. Roman warned traders to “be careful here.”
Could BTC be surged to a new all-time high that will trigger a rally at Altcoins? Analyze and explore the charts of the top 10 cryptocurrencies.
Bitcoin price forecast
The BTC surged past the $117,500 overhead resistance on Wednesday, indicating buyers are back to the order.
The BTC/USDT pair reached a record high of near $124,474. When prices drop sharply from the current level of $124,474 and below $117,500, it indicates that the bear is active at a higher level. After that, Bitcoin prices may remain between $107,000 and $124,474 for a long time.
Instead, if the buyer drives prices above $124,474, it indicates a resumption of the uptrend. The pair can then collect at $141,948.
Ether Price Prediction
Ether (ETH) closed above the 20-day index moving average ($4,309) on Wednesday, reaching the line of resistance on Friday.
The 20-day EMA begins to appear gradually, with the RSI rising into positive territory, showing slight edges on the bull. Sellers try to stop recovery on the resistance line, but if the buyer wins, the ETH/USDT pair can retest the all-time high at $4,957.
The Bears need to slash their bullish momentum by pulling prices below the 20-day EMA. The ether price could drop to $4,060.
XRP Price Forecast
Buyers pushed XRP (XRP) on Thursday onto the downtrend line, but were unable to achieve anything close to that.
Buyers are once again trying to keep XRP prices above the downtrend line. If they are successful, the bearish descending triangle pattern is invalid. The XRP/USDT pair rose to $3.20 and then to $3.38.
This optimism will be denied in the near future if prices drop and fall below the moving average. This suggests that the breakout above the downtrend line could have been a bull trap.
BNB Price Prediction
BNB (BNB) surged to a new all-time high above $1,084 on Thursday, extending the UP move on Friday.
The BNB/USDT pair is broken over the rising channel pattern, signaling a pickup with bullish momentum. There is mild resistance at $1,173, but if this level is exceeded, the gathering could be extended to $1,252.
The channel and breakout levels from the 20-day EMA ($1,004) could serve as strong support on the downside. Sellers should drag BNB prices under $930 to suggest that the pair could have been top in the short term.
Solana price forecast
Buyers pushed Solana (SOL) back over the uptrend line on Wednesday, suggesting that the revision phase may have ended.
Pullbacks from current levels may find support at a 20-day EMA ($220). In that case, the Sol/USDT pair could assemble into a $260 overhead resistance. Sellers are expected to defend the $260 level with all force, as the nearest above could tear the Solana price to $295.
Sellers will need to pull prices below the 50-day simple moving average ($212) to make a comeback.
Dogecoin price forecast
Dogecoin (Doge) closed above the 20-day EMA ($0.24) on Wednesday, showing the Bulls’ slight edge.
The Doge/USDT pair remains stuck within a wide range between $0.14 and $0.29, but the price action forms a rising triangle pattern. Buyers should achieve near over $0.29 to complete a bullish setup. Doge then rally to a $0.39 pattern goal.
The bullish pattern becomes invalid when the bear pulls the price under the uptrend line. This suggests that the pair could further extend the integration a little more.
Cardano price forecast
Cardano (ADA) recovery rose above the 50-day SMA ($0.86) on Thursday, indicating sales pressure is falling.
Buyers should push for the price of Cardano above the resistance line to suggest that the fix may have been completed. The ADA/USDT pair can attempt a rally up to $1.02, and the bear is expected to intervene.
Conversely, if prices drop from current levels or resistance lines and fall below the 20-day EMA ($0.84), it suggests that bears are selling at the rally. The pair can then fall into support of $0.75.
Related: XRP Prices Recover $3 and pave the way for 40% profit in October
High lipid price forecast
High lipids (hype) surged above Thursday’s moving average, indicating solid purchases at lower levels.
The relief rally is expected to face sales at 61.8% Fibonacci retracement level 51.87. The price has fallen from $51.87, but bounces back from the moving average suggesting that emotions have been bullish. The Hype/USDT pair could rise to $59.41.
On the contrary, if prices drop and fall below the moving average, it indicates that the bear is active at a higher level. The high lipid price then fell to $43, then $39.68.
Chain Link Price Prediction
ChainLink rose above the 20-day EMA ($22.35) on Wednesday, but the Bulls face resistance near the downtrend line.
This suggests that if the price slips and is below the 20-day EMA, the link/USDT pair can remain inside the descending channel pattern for several more days.
The first sign of strength closes above the break and down trend line. In that case, the ChainLink price will rise to $26, then $27. The seller tries to stop the UP movement at $27, but if the Bulls win, the rally could reach $30.94.
SUI price forecast
SUI (SUI) surpassed the average that moved Wednesday, indicating sales pressure is falling.
If the buyer maintains a price above the moving average, the SUI/USDT pair can climb downtrend line. Sellers are expected to actively defend the downtrend line as they could push the SUI price to $4.20 and then to $4.44.
On the contrary, it suggests that bears have not given up if prices drop and fall below the moving average. The pair may then fall into the $3.26-$3.06 support zone.
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.