Key Points

• The recent bounce in Bitcoin to over $100,000 highlights the commitment of buyers to the overall bullish trend.

• Selected altcoins have fallen below their support levels, indicating potential further declines ahead.

Bitcoin (BTC) has surpassed the significant psychological level of $100,000, but the durability of this bullish trend remains to be seen. Arthur Hayes, founder of Bitmex, expressed optimism on X, stating that the weaknesses Bitcoin experienced are behind it, reinforcing its status as a safe asset.

The relatively stable performance of Bitcoin against major US stocks amid ongoing geopolitical tensions demonstrates its maturation as an asset class. Andre Dra Gosch, from Bitwise Europe, shared a chart on X indicating Bitcoin’s 60-day realized volatility stands at 27-28%. In comparison, the S&P 500 Index (SPX) hovers around 30%, with the NASDAQ 100 at about 35%, and the “magnificent 7” tech stocks nearly at 40%.

The inability to reach new highs hasn’t deterred institutional investors from continuing their Bitcoin purchases. According to Coinshares, the previous trading week ended with an influx of $1.1 billion, indicating that investors are willing to buy on weakness, even as spot prices decline.

Will sellers push Bitcoin back below $100,000, or can buyers lift the price? What’s next for altcoins? A look at the charts for the top 10 cryptocurrencies can provide insights.

S&P 500 Index Price Forecast

The S&P 500 index has retreated to the 20-day moving average (5,950), suggesting bearish activity in the 6,000-6,147 regions.

If prices remain below the 20-day EMA, they may slide down to the 50-day moving average (5,747). Buyers will likely defend the 50-day SMA vigorously, as a breach could lead to a drop towards 5,580. A deeper drop might delay the continuation of an upward trend.

This negative sentiment shifts if prices bounce off the 20-day EMA and rise above 6,060, as this sets the stage for testing the previous high around 6,147. A breakout above this level could indicate the beginning of a new upward leg towards 6,500.

US Dollar Index Price Forecast

The bears failed to maintain a price under the 97.92 support, leading to a bounce that approached the moving average.

The flattening of the 20-day EMA (98.92), along with a positive divergence in the RSI, suggests waning selling pressure. This raises the possibility of breaking above the 50-day SMA ($99.48). Should this occur, the index could advance to 100.54 and perhaps 102 resistance.

If bears wish to reclaim control, they must keep prices below the 20-day moving average and push them beneath immediate support at 98.48, which could lead to a retest of the critical support level at 97.60.

Bitcoin Price Forecast

Bitcoin dipped below the crucial $100,000 support on Sunday, but bulls were quick to buy the dip as reflected in a long candlestick tail.

While bulls aim for a relief rally, they are faced with selling pressure at higher levels. If prices retreat from the current mark or the moving average, bears may attempt to push the BTC/USDT pair below $100,000 again. If successful, it could drop to around $93,000.

On the other hand, if buyers can elevate prices past the moving average, the pair might approach the downtrend line. Sellers will likely mount strong defenses at this line and the area around the all-time high of $111,980.

Ether Price Prediction

Ether (ETH) found solid support at $2,111 on Sunday, indicating strong demand at lower price points.

Bulls are trying to push above the $2,323 breakdown level, though they face significant resistance from bears. If the price falls from $2,323, the risk of a dip below $2,111 escalates, potentially sending the ETH/USDT pair down to $1,754.

If buyers succeed in lifting prices above the 20-day EMA ($2,467), it’s likely that the $2,111 level will act as a new support floor, allowing the pair to rise to $2,738.

XRP Price Forecast

XRP dropped below the $2 support on Sunday, but bulls re-emerged, buying the dip as evidenced by a long candlestick tail.

The bears may not easily relent, attempting to halt any recovery at the 20-day EMA ($2.15). Should prices retreat from current levels or the 20-day EMA, the XRP/USDT pair could drop to the $1.61 support level.

Conversely, if the pair breaks above the 20-day EMA, it would signal a rejection of below the $2 mark, potentially allowing a rise to the 50-day SMA ($2.26) and maintaining a range between $2 and $2.65.

BNB Price Prediction

BNB (BNB) has fallen below Saturday’s $634 support, reflecting a bearish resolution in the range-bound action.

The BNB/USDT pair showed some recovery on Sunday, but this uptick could meet selling pressure at the breakdown level of $634. If the price falls from there, it suggests that bears have turned it into a resistance point, increasing the likelihood of a drop to strong support around $580.

Buyers need to push above the moving average to stave off negative trends, potentially allowing the pair to rise as high as $675.

Solana Price Forecast

Solana (SOL) fell below its $140 support on Saturday, extending its decline toward $123 support on Sunday.

Buyers are gearing up for a recovery. This may encounter resistance at the $140 breakout level and the 20-day EMA ($147). If prices are pushed down from this resistance zone, bears might reinitiate the downtrend. A breach of the $123 level could lead the Sol/USDT pair to drop to $110.

Conversely, if buyers manage to elevate prices above the 20-day EMA, it indicates solid demand at lower levels, and the pair may move towards the 50-day SMA.

Dogecoin Price Forecast

Dogecoin (Doge) is trading within a wide range between $0.14 and $0.26, with buying occurring on dips and selling at resistance.

Bulls are attempting to bounce at $0.14, though the rally could face strong resistance at the 20-day EMA ($0.17). If prices recede from the 20-day EMA, bears will aim to push the Doge/USDT pair below $0.14 again, potentially down to $0.10.

Alternatively, if buyers can elevate prices above the 20-day EMA, the pair may ascend towards the 50-day SMA ($0.19). Sellers are likely to defend that SMA, aiming to keep the pair within the $0.14 to $0.21 range for a time.

Cardano Price Forecast

Cardano (ADA) continued its decline, approaching the $0.50 support level on Sunday. Buyers are expected to staunchly protect this level, as breaking below could finalize a bearish descending triangle pattern.

Any recovery attempt might face resistance at the 20-day EMA ($0.62). A notable drop from this EMA raises the risk of slipping below $0.50, potentially sending the ADA/USDT pair down to $0.40.

The first sign of strength occurs when prices surpass the 20-day EMA. This would suggest that buyers are effectively defending the $0.50 support, possibly sending the pair towards the 50-day SMA ($0.70) and the downtrend line.

High Lipid Price Forecast

High lipids (hype) bounced off the 50-day SMA ($32.63) over the weekend, indicating strong buying at these low levels.

Sellers are attempting to stop the recovery at the 20-day EMA ($36.74). If they succeed, the hype/USDT pair could retest substantial support at $30.50. Buyers are anticipated to defend fiercely within the $28.50 to $30.50 range.

A breakthrough above the 20-day EMA would indicate a loss of bears’ control, potentially allowing the pair to rise to $40 and beyond, facing significant resistance within the $42.50-$45.80 zone.

This article does not provide investment advice or recommendations. All trading involves risk, and readers should conduct their research.