Market Overview

Key Points:

• Bitcoin has pulled back to a support level near $117,000, hinting at buying activity at lower prices.

• Ether has slipped somewhat, yet it may find support around $4,094.

On Thursday, Bitcoin (BTC) experienced a significant drop from $124,474. However, there’s some optimism with the price finding support close to $117,000. A recent Bitcoin Intelligence Report states that BTC surpassed a critical resistance at $130,000, but it’s projected to reach about $200,000 by year’s end.

Ether (ETH) is also on traders’ radars, particularly following a strong upward trend since July. Data from SOSOValue reveals that Spot ETH ETFs have seen a net inflow exceeding $2.9 billion this week, suggesting institutional investment confidence in ETH’s continued growth.

Traders are feeling positive about ETH, possibly signaling an impending altcoin season. David Duon, from Coinbase Institute, noted in a monthly report that the market conditions for September may hint at a significant shift towards a full-blown altcoin season.

Bitcoin Price Forecast

Bitcoin has returned to its 20-day moving average ($117,485), an essential support level to keep an eye on.

Prices seem to bounce off this 20-day EMA, indicating that buyers are stepping in during minor dips. There’s a chance the Bulls may once again push the BTC/USDT pair above $124,500, and if successful, we could see it soar to $135,000.

On the flip side, if the price dips below the 20-day EMA, it may indicate profit-taking, possibly dragging it down to the 50-day moving average ($115,137) and then to solid support at $110,530. A breach below that level could trigger further selling and hint at a potential short-term top.

Ether Price Prediction

Currently, ETH is facing selling pressure near $4,788, but a retest at the $4,094 breakout level might be in the works.

If prices rebound from $4,094, it would suggest the Bulls are attempting to hold that level. Should that occur, the ETH/USDT pair might rally towards a resistance zone between $4,788 and $4,868. Overcoming $4,868 could pave the way towards the psychological level of $5,000, then $5,662.

Conversely, if ETH falls below $4,094, it could indicate short-term traders booking profits, potentially leading to a drop to $3,745.

XRP Price Forecast

XRP faced rejection at its 20-day EMA ($3.11) on Thursday, pointing to lesser demand at elevated prices.

The flat 20-day EMA and an RSI just below the midpoint reveal no strong advantage for either buyers or sellers. Below the 20-day EMA, bearish pressure could drive the XRP/USDT pair to solid support at $2.73.

If it breaks and closes above $3.40, buyers could see an opportunity, possibly pushing prices up to $3.66. On the other hand, a drop below $2.73 could signal a significant downturn.

BNB Price Prediction

BNB surged past $861 resistance on Thursday, but the Bulls struggled to maintain momentum.

The inability to remain above $861 might have prompted some short-term buyers to cash out, pushing prices back toward the 20-day EMA ($794). If prices strengthen from this moving average, the Bulls might aim to push the BNB/USDT pair past $869, which could lead to prices rising toward $900, possibly nearing $1,000.

If the price slips below the 20-day EMA, however, it could fall to a solid support level at $732, indicating a potential double-top pattern.

Solana Price Forecast

Solana (SOL) turned down from a high of $210 on Thursday, showing selling pressure at that level. The price is nearing its 20-day EMA ($180), which is a significant level to monitor.

The gradually rising moving average and an RSI above the midpoint suggest a slight edge for buyers. If the price rebounds from the 20-day EMA, the Bulls might try to breach the barrier at $210. If successful, the SOL/USDT pair could surge towards $240.

Should the price fall below the 20-day EMA, it may indicate weakness, and Solana could linger in a range from $155 to $210 for a while.

Dogecoin Price Forecast

Dogecoin (DOGE) was rejected from $0.26 and dropped to its 20-day EMA ($0.22) on Thursday, signaling that Bears are active at higher levels.

Nevertheless, the support from the 20-day EMA indicates buying interest during dips. Buyers might make another push to elevate prices beyond $0.26. If they succeed, Dogecoin could reach $0.29, an important threshold that, if surpassed, might lead to a move toward $0.35.

If prices drop below the moving average, the pair may remain locked in a broader range from $0.14 to $0.29.

Cardano Price Forecast

Cardano (ADA) vaulted past $0.94 on Thursday but faced selling pressure approaching the resistance at $1.02.

Moving averages appear consistent, and the RSI indicates buyers are in control. They might attempt to push the price above $1.02. If they’re successful, the ADA/USDT pair could proceed towards a resistance zone between $1.17 and $1.25.

Weakness could manifest if the price breaks and closes below the 20-day EMA ($0.81), which might lead to a decline toward a 50-day SMA ($0.73).

Chain Link Price Prediction

ChainLink faced a downturn from $24.74 on Wednesday, hinting at profit-taking by Bulls.

Current RSI trends suggest weakening bullish momentum. If prices fall below the 20-day EMA ($20), sellers might take charge, potentially driving the Link/USDT pair down to $18.

Conversely, if prices rise, Bulls will aim to push above $24.74. If they succeed, the trend could resume, targeting an overhead resistance at $27.21.

High Lipid Price Forecast

High Lipids (HYPE) re-entered an upward channel pattern, yet buyers are facing challenges in holding higher levels.

Bears are fiercely defending the channel’s support line. Should sellers manage to pull prices below moving average levels, the HYPE/USDT pair might plunge to $36.

This pessimistic view would be negated if Bulls push prices above $50, possibly leading to a surge towards the channel resistance near $64.

Stellar Price Prediction

Stellar (XLM) turned down from $0.47 on Thursday, revealing that selling is persisting at higher levels.

The XLM/USDT pair appears caught in a tussle between Bulls and Bears near a 20-day EMA ($0.42). Should prices dip below that EMA, the pair might slink towards a $0.34 Fibonacci retracement level.

Buyers aiming to show strength will need to push above the $0.47 resistance, which could elevate the price to $0.52, although Bears are likely to intervene. A successful breakout above $0.52 could complete a bullish reverse head and shoulder pattern.

This article does not include investment advice or recommendations. All trading carries risk, and readers should conduct their own research before making decisions.