Important points:
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Bitcoin bulls are trying to keep the price above $107,000, while bears continue to apply selling pressure.
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The recovery for most major altcoins has stalled, indicating that bears continue to sell on small rallies.
Buyers managed to keep Bitcoin (BTC) above the key support level of $107,000, but the lack of a solid rebound suggests that the bears are maintaining pressure. Short-term uncertainty has divided analysts on the next direction for BTC.
Jeff Kendrick, Global Head of Digital Asset Research at Standard Chartered, told Cointelegraph that BTC is on track to reach $200,000 by the end of 2025. Kendrick believes BTC will rise as investors view the recent decline as a buying opportunity.
At the other end of the spectrum, veteran trader Peter Brandt sees similarities between Bitcoin’s chart and the soybean market of the 1970s, which plummeted 50% after global supply outstripped demand. Brandt told Cointelegraph that BTC is forming an expanding top-chart pattern that is “famous for the top” and that the price could fall to around $60,000.
What are the important support levels to watch out for in BTC and major altcoins? To find out, let’s analyze the charts of the top 10 cryptocurrencies.
Bitcoin price prediction
BTC rallied sharply on Tuesday, but the bears blocked any attempt at a recovery at the 50-day simple moving average ($114,137).
Sellers will look to strengthen their positions by pushing the Bitcoin price below the $107,000 support. If successful, the risk of losing $100,000 in psychological support increases. Buyers are expected to do their best to protect the $100,000 level, otherwise a new downtrend could begin.
The first sign of strength would be a breakout and close above the $116,000 level. This suggests that the BTC/USDT pair could remain within the $107,000 to $126,199 range for some time.
Ether price prediction
Ethereum (ETH) fell from its 20-day exponential moving average ($4,062) on Tuesday, suggesting that bears are selling on a small rally.
The bears will try to push the Ether price below the support line of the descending channel pattern. If that happens, the selling could accelerate, putting the ETH/USDT pair at risk of falling to $3,350.
Buyers will need to push the price above the moving average to signal that the pair may remain within the channel for a little longer. The bulls will have the upper hand if the price closes above the resistance line.
BNB price prediction
BNB (BNB) has been trading between the moving averages since Friday, indicating an uphill battle between bulls and bears.
The downslope of the 20-day EMA ($1,122) and the negative RSI indicate that the bears have a slight advantage. A close below the 50-day SMA ($1,041) would signal the start of a new downtrend towards $932.
Conversely, if the price closes above the 20-day EMA, it indicates that the bulls are outperforming the bears. This opens the door for a rescue rally to the 50% Fibonacci retracement level at $1,198.
XRP price prediction
XRP (XRP) has rebounded from the $2.30 support that disappeared at the 20-day EMA ($2.55) on Tuesday, indicating negative sentiment.
The bears will try to build an advantage by pushing the XRP price below the $2.19 support level. If they can pull it off, the XRP/USDT pair could drop to $2.06 and then $1.90.
Buyers will need to quickly push the price above the 20-day EMA to signal a pullback. Thereafter, the pair may rise to the 50-day SMA ($2.79) and then to the downtrend line. A close above the downtrend line signals the end of the correction phase. Thereafter, the pair could rally towards $3.38.
Solana price prediction
Solana (SOL) fell from the 20-day EMA ($198) on Tuesday, indicating that the bears are looking to maintain control.
The SOL/USDT pair may slide to the support line of the descending channel pattern where buyers are expected to intervene. The bulls will need to push Solana price above the 20-day EMA to signal that the pair may remain within the channel for some time. A new rally could begin with a close above the resistance line.
The seller may have other plans. They will try to push the price below the support line. If that happens, the pair could plummet to $155 and then $145.
Dogecoin price prediction
Dogecoin (DOGE) failed to break above the 20-day EMA ($0.21), indicating that the bears are selling on a minor pullback.
Dogecoin price could fall to $0.18, which is an important support to watch out for. If the bears pull the DOGE/USDT pair below $0.18, the next stop is likely at $0.16 and ultimately $0.14.
If, contrary to this assumption, the price rises rapidly and rises above the 20-day EMA, it would suggest that selling pressure is decreasing. The pair could rally to the 50-day SMA ($0.23) and then to the severe overhead resistance at $0.29.
Cardano price prediction
Cardano (ADA)’s recovery attempt has failed to even reach the 20-day EMA ($0.70), indicating a lack of demand at higher levels.
The bears will try to increase their advantage by pushing Cardano price below the $0.59 support. If it is successful, the ADA/USDT pair could plummet to the critical support at $0.50. Buyers are expected to defend the $0.50 level with all their might. A close below this would open the way for a fall to $0.40.
This negative view will be negated in the short term if the price turns higher and crosses the $0.75 breakdown level. After that, the pair may rise to the downtrend line.
Related: BNB Price Analysis: Here’s Why Bulls Must Hold $1,000
Super liquidity price prediction
Hyper Liquid (HYPE) has fallen from the neckline of a head-and-shoulders pattern, showing that the bears are still in control.
The downslope of the 20-day EMA ($40.09) and the RSI in negative territory increase the likelihood of further decline. The support is at $33.28, but if that level breaks, the HYPE/USDT pair could fall to $30.50 and then $28.
The bulls will have to keep the hyperliquid price above the neckline to show that selling pressure is waning. The pair could rise to the 50-day SMA ($46.42) and then move up to $51.
Chainlink price prediction
Chainlink (LINK) fell near the support line of a descending channel pattern as buyers were unable to push the price above the 20-day EMA ($19.02).
Sellers will try to push the price below the support line and retest the $15.43 level. Repeated retesting of support levels tends to weaken them. If the $15.43 level breaks down, Chainlink price could fall to $12.73.
The bulls will need to push the price above the 20-day EMA and sustain it to show strength. Thereafter, the LINK/USDT pair may rise to the resistance line, and the bears are expected to sell aggressively.
Stellar price prediction
The bears stalled Stellar’s (XLM)’s rescue rally around the 20-day EMA ($0.34) on Tuesday, indicating negative sentiment.
The XLM/USDT pair is at risk of falling to $0.29, which is an important support to watch for. If the price breaks below the $0.29 support, selling will accelerate and Stellar price may fall to $0.25.
Buyers will need to push and sustain the price above the $0.34 breakdown level to show strength. The pair may then rise to the downtrend line, where the bears are expected to pose a strong challenge. A close above the downtrend line indicates a potential trend change.
This article does not contain investment advice or recommendations. All investment and trading moves involve risk and readers should conduct their own research when making decisions.