Key Points:

• The Bitcoin Bulls are pursuing a rise as buying momentum increases after BTC hit an all-time high of $123,218.

• Ether is closing in on Bitcoin and looks to be nearing its own record high.

Bitcoin soared past $122,000 on Wednesday, suggesting the Bulls are still going strong. Frequent tests of resistance levels often create pressure, which may increase the likelihood of surpassing the previous all-time high of $123,218.

BTC isn’t alone in this, as Ether aims for a record high of $4,868. According to crypto sentiment-tracking platform Santiment, ETH could achieve a record high as retailers feel uncertain about the current rally. History indicates that price movements often swing contrary to retailers’ expectations.

A report from Standard Chartered indicated that aggressive buying by ETH Treasury businesses and trading funds, along with the uptake of stablecoins, is likely to bolster ETH’s outlook. This led the bank to raise its price target for ETH to $7,500 by 2025, up from a previous target of $4,000.

The question remains: Can BTC break above its all-time high and lift Altcoins with it? Let’s take a look at the charts of the top 10 cryptocurrencies.

Bitcoin Price Forecast

Buyers again drove BTC to a record high of $123,218, showing that they are capitalizing on minor dips.

The flat 20-day Simple Moving Average (SMA) at $116,957 points to a balance between supply and demand, while a relative strength index (RSI) over 65 indicates positive momentum, possibly increasing the chances for a breakout above $123,218.

The pair could even reach $135,000. However, the Bulls must quickly avoid pushing prices below the 50-day SMA ($114,682), as that could weaken their bullish momentum and push Bitcoin down to $110,530.

Ether Price Prediction

ETH continued its rally, exceeding $4,700 on Wednesday, signaling strong demand from buyers.

Sellers are attempting to defend the $4,868 level, which could lead to short-term corrections. An RSI that’s too high might hint that the rally could ease off momentarily. Should that occur, the pair may drop to $4,350 before hitting a breakout level of $4,094.

If buyers can push past the $4,868 mark, Ether’s price could surge to $5,000, and possibly up to $5,662.

XRP Price Forecast

XRP bounced off the 20-day SMA ($3.11) on Tuesday, but the Bulls are having a tough time holding onto higher levels.

With a flat 20-day SMA and an RSI just above the midpoint, there’s no clear advantage for either side. If the price surpasses $3.40, the pair could climb to $3.66.

On the other hand, if it dips below the 20-day SMA, the bearish trend could push XRP down to the 50-day SMA ($2.85), which might attract buyers. A dip below $2.72 would change the short-term trend to negative.

BNB Price Prediction

BNB has made a strong recovery from $730 since August 3rd, indicating solid buying activity at lower levels.

The price is approaching $861, meeting resistance as Bears present a serious challenge. If it drops from $861 but rebounds from the 20-day SMA ($794), it suggests that buyers are still active, leading to better chances of breaking through $861. From there, BNB could rise to $900 or possibly $1,000.

If weakness shows with breaks below the 20-day SMA, it could indicate profit taking, and BNB’s price may collapse to significant support at $732.

Solana Price Forecast

Solana climbed sharply from a 20-day SMA of $176 and moved past Tuesday’s $185 resistance.

The price neared the $209 overhead resistance on Wednesday, yet a long candlestick wick suggests that Bears are defending this level. The expected support at $185 is where buyers may step in.

If the price recovers above $185 with strength, Bulls could attempt to breach the $209 again. Should they succeed, the price could rise to $240. Conversely, breaks below $185 may lead to a range forming between $209 and $155.

Dogecoin Price Forecast

Dogecoin has been trapped in a wide range between $0.14 and $0.29 for the past few months.

It rebounded from the 20-day SMA ($0.22) on Tuesday, suggesting buyers might be regaining control. There’s a bit of hesitation at $0.25, but if it breaks through, the pair could rally to $0.29. Sellers are likely to fight hard to defend the $0.29 level, creating potential resistance at $0.44.

The initial downside support lies with the 20-day and 50-day SMA at $0.20. Falling below the 50-day SMA could bring Dogecoin down to $0.18.

Cardano Price Forecast

Cardano (ADA) has rebounded sharply from the 20-day SMA ($0.77) on Tuesday, indicating active buying at these lower levels.

The Bulls are fighting to maintain a price above $0.86. If they succeed, the price could rise to $0.94, then up to $1.02.

On the downside, breaks and closures below the 20-day SMA could send Cardano down to the 50-day SMA ($0.72), an essential level for the Bulls to defend. Failure to hold here may favor the Bears.

Chainlink Price Prediction

Chainlink is making its way toward the $27 level, clearly showing aggressive buying from the Bulls.

However, sellers could present a significant challenge within the $26-$27 resistance zone. If prices reduce from here, the pair could fall to $20.84. Buyers are expected to support at the $20.84 level, as a failure to hold this may drive prices down to $18.

If a buyer can break through the $27 resistance, the uptrend could continue, pushing prices higher, maybe even to $31.

High Lipid Price Forecast

High lipids (HYPE) seem to be trading within the moving averages and the support line of an ascending channel.

A flat moving average and an RSI above the midpoint don’t distinctly favor anyone. Should buyers push above the support line, the HYPE/USDT pair could aim for $50. However, if sellers hamper this move, it might lead to fluctuations near $64 if the Bulls gain the advantage.

This optimistic outlook vanishes if prices dip below the moving averages, possibly dropping high lipid prices to $36.

Star Price Prediction

Stellar (XLM) currently finds support at a 20-day SMA ($0.42) and exhibits positive indicators.

With the 20-day SMA being flat but the RSI in positive territory, upward momentum favors the Bulls. If buyers push past $0.47, the pair could rise to $0.52, completing a bullish reverse head-and-shoulders pattern at that point.

However, if Sellers quickly push prices below the 20-day SMA, it would signal weakness, potentially plunging the pair down to $0.34, around a critical Fibonacci retracement level.

This article does not offer investment advice or recommendations. All trading involves risk, and readers should conduct their own research when making decisions.