Key points:
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Bitcoin made a strong comeback, confirming that dip buyers were present at lower levels; higher levels could continue to attract sellers.
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Select altcoins have bounced off their respective support levels, indicating a positive sentiment.
Bitcoin (BTC) rallied to $112,500 on Wednesday, indicating that the bulls are trying to extend the recovery. The relief rally attracted buying in spot BTC exchange-traded funds on Tuesday, which recorded $332.7 million in net inflows, according to SoSoValue data.
A positive sign for the crypto bulls is that gold (XAU) made a new high above $3,500 (per ounce) on Tuesday. History shows that BTC follows gold with a lag. BTC’s median rise following gold’s new all-time high is 30% at three months, and 225% at 12 months. If history repeats, BTC could rally to the $135,000 to $145,000 zone by early December.
However, September’s weak seasonality is a risk for the bulls in the near term. Network economist Timothy Peterson said in a post on X that BTC plunges 100% of the time between Sept. 16 and Sept. 23, with a typical decline of 5%.
What are the critical resistance levels to watch out for in BTC and the major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC rose back above the breakdown level of $110,530 on Tuesday, indicating solid demand at lower levels.
There is stiff resistance at the 20-day exponential moving average ($112,438), but if the bulls overcome it, the BTC/USDT pair could rally to the 50-day simple moving average ($115,640). Such a move suggests that the corrective phase may be over. The pair may then attempt a rally toward $124,474.
If bears want to retain the advantage, they will have to fiercely defend the 20-day EMA and swiftly pull the Bitcoin price below $107,255. If they manage to do that, the pair could plummet to $105,000 and eventually to the vital support at $100,000.
Ether price prediction
ETH (ETH) closed below the 20-day EMA ($4,379) on Monday, but the bears could not pull the price to the $4,094 support.
The bulls are trying to make a comeback by maintaining the price above the 20-day EMA. If they do that, the ETH/USDT pair could rise to $4,500 and, after that, to $4,664. Sellers will try to defend the zone between $4,664 and $4,956 because a break above it could resume the uptrend toward the next target objective of $5,662.
The 50-day SMA ($4,072) is the critical level to watch out for on the downside. If this support cracks, the Ether price could tumble to $3,745 and then to $3,354.
XRP price prediction
XRP (XRP) bounced off the $2.73 level on Monday, indicating that the bulls are aggressively defending the level.
The relief rally is expected to face selling at the 20-day EMA ($2.93), which is sloping down. The XRP/USDT pair will complete a bearish descending triangle pattern on a break and close below $2.73. That could start a downward move to $2.20.
Buyers will have to thrust the price above the downtrend line to negate the bearish pattern. The XRP price may then rally toward $3.40, signaling that the pair may remain stuck between $2.73 and $3.66 for a while.
BNB price prediction
Buyers are trying to sustain BNB (BNB) above the 20-day EMA ($849), but the bears have kept up the pressure.
If the 20-day EMA gives way, the BNB/USDT pair could slide to the 50-day SMA ($811). Buyers are expected to fiercely defend the zone between the 50-day SMA and $794.
If the price turns up and breaks above $869, it suggests that the selling pressure is reducing. The bulls will then try to push the price above $881, challenging the overhead resistance at $900. A break and close above $900 signals the start of the next leg of the uptrend to the psychological level of $1,000.
Solana price prediction
Solana (SOL) turned up from the 20-day EMA ($197) on Tuesday, signaling that the positive sentiment remains intact.
Buyers will try to strengthen their position by pushing the price above the $218 resistance. If they can pull it off, the SOL/USDT pair will complete a bullish ascending triangle pattern. That clears the path for a rally to $240 and then to $260.
The uptrend line is the critical support to watch out for on the downside. Sellers will have to drag the price below the uptrend line to invalidate the bullish setup. The Solana price may sink to $175 and thereafter to $155.
Dogecoin price prediction
Buyers have managed to keep Dogecoin (DOGE) above the $0.21 support but are struggling to push the price above the moving averages.
The downsloping 20-day EMA ($0.22) and the RSI near the midpoint suggest a minor advantage to the bears. If the price turns down and breaks below $0.21, the DOGE/USDT pair could slump to $0.19 and then to $0.16.
This negative view will be invalidated in the near term if the price turns up and breaks above the 50-day SMA ($0.22). That suggests the Dogecoin price may oscillate inside the $0.21 to $0.26 range for a few more days.
Cardano price prediction
Cardano (ADA) has been falling inside a descending channel pattern for a few days, indicating buying on dips and selling on rallies.
If buyers drive the price above the 20-day EMA ($0.84), the ADA/USDT pair could reach the downtrend line. Sellers are expected to mount a vigorous defense at the downtrend line, but if the bulls prevail, the Cardano price could rise to $0.96 and later to $1.02.
Instead, if the price turns down from the 20-day EMA, the bears will attempt to pull the pair to the support line. That is a critical level for the bulls to defend because a break below the channel may sink the price to $0.68.
Related: Classic XRP price chart pattern targets $5 as spot ETF reality draws closer
Chainlink price prediction
Chainlink (LINK) has been witnessing a tough battle between the bulls and the bears at the 20-day EMA ($23.45).
The flattish 20-day EMA and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price turns down from the current level, the LINK/USDT pair could find support at the 50-day SMA ($20.99).
Contrarily, buyers will gain the edge in the near term if they push and maintain the Chainlink price above $24.06. If they manage to do that, the pair could march toward $26 and then $27.
Hyperliquid price prediction
Hyperliquid (HYPE) turned up from the uptrend line on Tuesday, but the bears are likely to sell at higher levels.
A break and close below the uptrend line invalidates the bullish ascending triangle pattern. That may pull the Hyperliquid price to $40 and subsequently to the solid support at $35.51.
Contrary to this assumption, if the price maintains above $45.50, it suggests that the bulls are buying on dips. The HYPE/USDT pair could then ascend to the overhead resistance at $49.88. This is a crucial level to watch out for because a close above $49.88 opens the gates for a rally to the pattern target of $64.25.
Sui price prediction
Sui (SUI) closed below the $3.26 support on Monday, but the bears could not sustain the lower levels.
The bulls pushed the Sui price back above $3.26 on Tuesday but are likely to face stiff resistance from the bears at the 20-day EMA ($3.45). If the price turns down sharply from the 20-day EMA, the risk of a break below $3.11 increases. The SUI/USDT pair could then plummet to $2.80.
Alternatively, if buyers drive the price above the 20-day EMA, the pair could climb to the 50-day SMA ($3.67).
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
