Key Takeaways
- •Bitcoin is currently seeking support around the $94,500 level, which suggests a positive market sentiment.
- •Buyers need to successfully defend the support levels for several major altcoins to prevent their recovery efforts from failing.
Bitcoin Price Analysis
Bitcoin's (BTC) recent shallow pullback indicates that it is attempting to find support near the $94,500 level, suggesting a lack of aggressive selling pressure from bulls. A notable positive sign is that BTC's rally above $97,500 was supported by substantial buying from institutional investors since Monday. Data from Farside Investors shows that spot Bitcoin exchange-traded funds recorded $1.81 billion in net inflows this week.
Arthur Hayes, co-founder of BitMEX, expressed in a post on Wednesday that Bitcoin (BTC) is expected to regain its momentum in 2026 as dollar liquidity is projected to expand. Hayes further added that as dollar liquidity increases rapidly, "BTC will follow."
While near-term signals suggest a potential rally above the psychologically significant $100,000 level, traders should remain vigilant. Daan Crypto Trades noted in a post on X that BTC must hold the $94,000 region, as a break below this level "would not make for a pretty look."
The question remains whether BTC and the major altcoins can resume their relief rally. A detailed analysis of the charts for the top 10 cryptocurrencies is provided below.
Bitcoin Price Prediction
On Wednesday, BTC briefly pierced the $96,846 resistance level, but the bulls were unable to sustain the higher prices, and the price slipped back below the breakout level on Thursday.
A minor positive development for the bulls is that they have managed to retain most of their ground. If the price turns upward from its current level and breaks above $97,925, it would signal the resumption of the upward trend. The BTC/USDT pair could then potentially rally to $107,500, with a minor intermediate target at $100,000.
This optimistic outlook would be invalidated in the near term if the Bitcoin price turns downward and breaks below the 20-day exponential moving average, which is currently at $92,083. If this occurs, the pair might then decline to the 50-day simple moving average at $90,127.
Ether Price Prediction
Ether (ETH) bulls are currently attempting to maintain the price above the resistance line, but bears continue to exert downward pressure.
The moving averages represent crucial support levels to monitor on the downside. Should the price rebound from these moving averages, the bulls will likely attempt to push the ETH/USDT pair towards $3,659 and subsequently to $4,000.
Conversely, a closing price below the moving averages would suggest that the breakout above the triangle pattern may have been a bull trap. In this scenario, the Ether price could then fall to the support line. Buyers will attempt to defend this support line, as a break below it would shift the advantage in favor of the bears. The pair might then experience a significant decline to $2,623.
XRP Price Prediction
XRP experienced an upward turn from the moving averages on Tuesday, but the bounce lost momentum on Wednesday, indicating that selling pressure is present on every minor rally.
The bears will aim to drive the XRP price below the 50-day simple moving average, which is currently at $2.01. If they succeed, it would indicate that the XRP/USDT pair could remain within the descending channel pattern for an extended period.
For a potential short-term trend change to be signaled, the bulls must push the price above the downtrend line. If this occurs, the pair might climb to $2.70. On the downside, a closing price below the support line could cause the pair to fall towards the October 10 low of $1.25.
BNB Price Prediction
BNB is currently experiencing a significant battle between bulls and bears at the breakout level of $928.
The upward-sloping 20-day exponential moving average at $903 and the relative strength index (RSI) being above the 61 level suggest that the bulls currently have the upper hand. If the BNB price turns upward from $928, it would indicate that buyers have successfully converted this level into support. This scenario would enhance the prospects of a rally towards the pattern target of $1,066.
Conversely, if the price falls below the moving averages, it would signal that the breakout above the $928 level may have been a bull trap. In such a case, the BNB/USDT pair could descend towards the uptrend line.
Solana Price Prediction
Solana (SOL) experienced a downturn from the $147 level on Thursday. However, a positive indicator is that the bulls have not ceded substantial ground to the bears.
The upward-sloping 20-day exponential moving average at $137 and the RSI in positive territory suggest that buyers are currently in control. This increases the likelihood of a break above the $147 resistance. The SOL/USDT pair could then potentially surge towards $172.
For sellers to weaken the bullish momentum, they would need to pull the price below the 50-day simple moving average at $132. If this occurs, the Solana price might remain within the $117 to $147 range for a few more days.
Dogecoin Price Prediction
Dogecoin's (DOGE) bounce from the moving averages on Tuesday failed to reach the overhead resistance at $0.16, indicating a lack of demand at higher price levels.
The flattening moving averages and the RSI hovering near the midpoint suggest that the DOGE/USDT pair may consolidate within a range in the near term. If the Dogecoin price falls below the moving averages, the pair could decline to $0.13 and subsequently to $0.12.
Buyers need to actively push the price above the $0.16 level to regain control. If they achieve this, the pair could rally to $0.20. Such a move would signify that the market has rejected the breakdown below $0.13.
Cardano Price Prediction
Cardano (ADA) pulled back from the downtrend line on Wednesday, indicating that bears are actively selling at higher price levels.
There is minor support at $0.38, but if this level breaks, the ADA/USDT pair could slide towards $0.33. Buyers are expected to strongly defend the $0.33 level, as a break below it could cause the pair to fall to the October 10 low of $0.27.
The first indication of strength will be a break and sustained close above the downtrend line. Following this, the Cardano price could surge to the previous breakdown level of $0.50, where bears are anticipated to put up a strong defense.
Monero Price Prediction
Monero (XMR) surged to $800 on Wednesday, but the long wick on the candlestick indicates selling pressure at higher price levels.
The pullback is expected to find support at the 38.2% Fibonacci retracement level of $653, and below that, at the 50% retracement level of $608. If the price rebounds from these support levels, bulls will attempt to propel the XMR/USDT pair above $800 again. If they are successful, the Monero price could resume its uptrend towards $1,000.
Conversely, a break and close below the $608 level would suggest that the bulls are losing their momentum. The pair might then decline to the 20-day exponential moving average at $543.
Bitcoin Cash Price Prediction
Bitcoin Cash (BCH) attempted a rally above the $631 resistance on Thursday, but the bears successfully defended the level.
The 20-day exponential moving average at $613 has started to turn downward, and the RSI is in negative territory, indicating a slight advantage for sellers. If the price sustains below the 50-day simple moving average at $591, the BCH/USDT pair could fall to $563 and then to $518.
Buyers likely have alternative plans. They will aim to defend the 50-day simple moving average and swiftly drive the Bitcoin Cash price above the $631 level. If they succeed in this endeavor, the pair could surge to $720.
Chainlink Price Prediction
Chainlink (LINK) remains confined within the $11.61 to $14.98 range, suggesting buying activity near the support and selling pressure close to the resistance.
The moving averages are critical support levels to watch on the downside. If the price rebounds from these moving averages, the bulls will make another attempt to push the LINK/USDT pair above the $14.98 resistance. If they achieve this, the Chainlink price could surge towards $17.66.
Conversely, if the price falls below the moving averages, it would suggest that the pair may continue to trade within the range for a longer period.