Market Overview and Sentiment

Bitcoin (BTC) shows near-term weakness, having fallen below the psychological support level of $100,000. This decline has contributed to the Crypto Fear & Greed Index dropping to a score of 15 out of 100 on Thursday, marking its lowest point since early March and indicating a state of "extreme fear" within the market.

Despite the current downturn, some analysts maintain a long-term optimistic outlook. Bitwise Chief Investment Officer Matt Hougan suggested that if Bitcoin fails to rally sharply into the end of 2025 and subsequently pull back, it would deviate from the typical four-year cycle thesis. However, he anticipates that this scenario could set Bitcoin up for a strong year in 2026, supported by positive underlying fundamentals.

Santiment analysis indicates that a negative crowd sentiment towards Bitcoin could signal an approaching point of capitulation. The firm suggests that an "unexpected November rally" might occur as stronger market participants acquire cryptocurrencies sold by weaker hands, stating that "it is not a matter of if, but when this will next happen."

Bitcoin Price Analysis

Sellers are currently attempting to establish control by keeping Bitcoin below the significant psychological support level of $100,000.

The downward trend of the 20-day exponential moving average, currently at $104,850, combined with a relative strength index nearing oversold territory, suggests that the path of least resistance is downwards. Any attempt at recovery is likely to encounter selling pressure at the former support level of $100,000, which now acts as resistance. A sustained price below $100,000 would confirm the resumption of the downtrend.

While support exists at $92,000, this level may not hold. The BTC/USDT pair could potentially decline further to $87,800. For a potential trend reversal, buyers would need to drive the price above $107,000.

Ethereum Price Analysis

The inability of bulls to push Ethereum (ETH) above the 20-day exponential moving average, which is at $3,567, attracted sellers on Thursday. This led to the price falling below the $3,350 support level.

Sellers will likely aim to capitalize on this momentum by driving the Ethereum price below the $3,050 support. A breach of this level could accelerate selling pressure, potentially causing the ETH/USDT pair to drop towards $2,500.

To signal strength, bulls must push and maintain the price above the 20-day EMA. Following such a move, the pair might ascend to the 50-day simple moving average at $3,930, where renewed selling pressure is anticipated.

XRP Price Analysis

On Thursday, buyers made another attempt to drive XRP above the 50-day simple moving average, which is currently at $2.56, but sellers successfully defended this level.

The XRP/USDT pair may challenge the $2.06 support level, which is at risk of breaking down. If this support fails, the XRP price could decline to $1.90, and subsequently to the critical support at $1.61.

Any recovery attempt is expected to face selling pressure at the 50-day SMA and then at the downtrend line. A confirmed close above the downtrend line would indicate that bulls have regained control, potentially leading the pair to ascend towards $3.20.

BNB Price Analysis

BNB has been experiencing a gradual decline towards the $860 level, which represents a critical near-term support for the asset.

The downward slope of the 20-day exponential moving average, currently at $1,004, and the relative strength index being near oversold conditions suggest that the BNB/USDT pair is at risk of breaking below $860. A fall below this level could lead to a significant drop in BNB price towards $730.

Conversely, if the price sharply reverses from $860 and breaks above the 20-day EMA, it could indicate the formation of a range. The pair might then trade within the broad range defined by $860 and $1,183 for a period.

Solana Price Analysis

Solana (SOL) closed below the $155 level on Wednesday and continued its decline, falling below the $145 support on Thursday.

Minor support is present at $137, but it is likely to be breached. If this occurs, the SOL/USDT pair could experience a sharp decline to $126 and potentially to the strong support at $110, where buyers are anticipated to intervene.

The 20-day exponential moving average at $166 remains the key overhead resistance. Buyers must successfully break above the 20-day EMA to signal a potential comeback, which could then lead to a rally towards the 50-day simple moving average at $191.

Dogecoin Price Analysis

Dogecoin (DOGE) has been steadily descending towards the lower boundary of its trading range, between $0.14 and $0.29, indicating persistent selling pressure.

Buyers are expected to defend the $0.14 support level vigorously. A break below this level could initiate a new downtrend, potentially leading the price towards the October 10 low of $0.10.

Buyers face a challenging task. They need to swiftly drive the Dogecoin price above the 20-day exponential moving average, currently at $0.17, to suggest a weakening of selling pressure. Following this, the DOGE/USDT pair might rally to $0.21. A close above the $0.21 resistance would indicate a potential extension of the pair's stay within the range for several more days.

Cardano Price Analysis

Cardano (ADA) has fallen to the $0.50 level, where buyers are expected to mount a significant defense.

If the price rebounds from the current level and moves above the 20-day exponential moving average, which is at $0.58, it would suggest a reduction in selling pressure. The ADA/USDT pair could then rally towards the 50-day simple moving average at $0.67, and subsequently towards $0.74.

Conversely, if the price continues to decline and breaks below $0.50, it would signal the commencement of the next phase of the downtrend. The Cardano price could then fall to $0.40, and potentially below that to the October 10 intraday low of $0.27.

Hyperliquid Price Analysis

Buyers are currently attempting to sustain Hyperliquid (HYPE) above the $35.50 support level, but bears continue to exert downward pressure.

With both moving averages sloping downwards and the relative strength index in negative territory, bears appear to hold an advantage. Should the $35.50 support level break, the HYPE/USDT pair could fall to $30.50, and subsequently to $28.

To signal strength, bulls must push and maintain the Hyperliquid price above the 50-day simple moving average, which is at $42.23. Following this, the pair could rally to $52, a level where aggressive selling is expected from bears.

Chainlink Price Analysis

Chainlink (LINK) has gradually slipped towards the vital support level of $13.69, indicating a negative market sentiment.

Sellers will likely attempt to resume the downward trend by pushing the price below $13.69. If successful, the LINK/USDT pair could drop to $12.73, and subsequently to $10.94. Buyers are expected to defend the $10.94 level with significant effort, as a break below it could lead to a sharp decline in Chainlink's price towards $7.90.

While the relative strength index is showing early signs of positive divergence, bulls must push the price above the 20-day exponential moving average, currently at $16.05, to gain upward momentum. The pair may then rally towards the resistance line.

Bitcoin Cash Price Analysis

In recent days, buyers have repeatedly tried to push Bitcoin Cash (BCH) above the 50-day simple moving average, which is at $529, but sellers have maintained their position.

Sellers are aiming to pull the Bitcoin Cash price towards the strong support level at $443. If the price turns upward from the current level or rebounds off the $443 mark, bulls will attempt to clear the resistance line again. A successful breakout could initiate a new uptrend for the BCH/USDT pair, potentially towards $580 and then $615.

Conversely, a break below the $443 level would open the possibility of a decline towards the support line of the falling wedge pattern.