Key points:
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Bitcoin has made a significant move above $106,000, potentially setting it up for a retest of the all-time high at $111,980.
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While most major altcoins remain stable, HYPE has resumed its upward trajectory.
Starting the week on a positive note, Bitcoin (BTC) has risen past $107,500. Although the price remains beneath the all-time high, both whales and retail investors are holding firm. CryptoQuant contributor Darkfost noted in a QuickTake blog post that inflows of Bitcoin to Binance from both groups have dipped to their lowest levels since the cycle began. This suggests investors may either be “awaiting clearer macroeconomic signals or are highly confident in Bitcoin’s long-term trend.”
IG Markets analyst Tony Sycamore mentioned to Cointelegraph that Bitcoin might revisit its all-time high around $112,000 before climbing towards the $116,000 to $120,000 range, provided it stays above the $95,000 support.
Not only Bitcoin, but Ether (ETH) is also seeing increased buying activity. Ethereum wallets that hold between 1,000 and 10,000 ETH accumulated over 818,410 ETH (~$2.5 billion) on Sunday, raising their total holdings to 16 million ETH from 11.9 million ETH nearly a year ago.
Can Bitcoin surge to a new all-time high above $111,980? Will altcoins also join the rally? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index price prediction
The S&P 500 Index (SPX) dropped from 6,059 on Wednesday, showing that bears are effectively defending the 6,000 to 6,147 range.
The index bounced off the 20-day exponential moving average (5,938), indicating that sentiment remains positive and each dip is seen as a buying opportunity. Buyers will aim to push the price to 6,147.
If the price closes below the 20-day EMA, a deeper pullback might ensue, prompting short-term traders to book profits and potentially pulling the price down to 5,767 and then to the 50-day simple moving average (5,680).
US Dollar Index price prediction
The US Dollar Index (DXY) is experiencing a fierce struggle between bulls and bears around the 97.92 mark.
The bears pushed the price below the 97.92 support on Thursday, but the bulls managed to reclaim that level on Friday. However, sustaining the price above 97.92 has proven difficult, indicating that bears are selling on minor rallies and raising the chances of a decline to 95.67.
Buyers will need to maintain the price above the moving averages to diminish bearish momentum, which could lead to a rise toward overhead resistance at 102.
Bitcoin price prediction
On Monday, Bitcoin climbed above the 20-day EMA ($106,202), showing that bulls are strongly defending the 50-day SMA ($103,887).
The bulls will aim to solidify their position by pushing the price to $110,530 and subsequently to the neckline of the inverse-head-and-shoulders pattern. A close above this neckline would complete the bullish setup, which carries a target of $146,892.
Sellers, however, are likely to oppose this push, attempting to defend the overhead resistance and bring the price below the 50-day SMA. If successful, the BTC/USDT pair could retest the crucial $100,000 support.
Ether price prediction
On Saturday, Ether closed below the 20-day EMA ($2,580), but the bears were unable to extend the pullback to the 50-day SMA ($2,412).
The price has since risen above the 20-day EMA, indicating buying interest at lower levels. The ETH/USDT pair could move up to $2,738 and then to $2,879. Sellers are expected to defend the upper range, but if buyers break through, a rally towards $3,153 is possible.
If there is a sharp pullback from overhead resistance, the pair might remain within the $2,879 to $2,323 range for some time. A close below $2,323 would turn the short-term trend negative.
XRP price prediction
XRP (XRP) has been fluctuating between $2 and $2.65, indicating buying around support and selling near resistance.
Price movements within this range are expected to be random and volatile. If buyers can hold the price above the moving averages, the XRP/USDT pair could rise to the overhead resistance at $2.65. Sellers will try to mount a robust defense at this level, as a breakout could propel the pair to $3.
The trend will shift to bearish if there is a break and close below the $2 support. In that case, the pair might revisit the critical support level at $1.61.
BNB price prediction
Buyers are striving to push BNB (BNB) above the 20-day EMA ($656), which may extend its range-bound movement between $634 and $693.
The flattening 20-day EMA and the RSI around the midpoint indicate a lack of decisive advantage for either bulls or bears. If the price holds above the 20-day EMA, the BNB/USDT pair could rise to $693. Sellers will likely attempt to thwart this upward movement at $693, but a successful push by bulls might elevate the pair to $732.
If bears manage to pull the price below the $634 support, they could drive it down to $580.
Solana price prediction
Solana (SOL) rebounded off the $140 support on Saturday, reaching the moving averages on Monday, signifying solid buying pressure at lower levels.
Both moving averages are flattening and the RSI is around the midpoint, suggesting the SOL/USDT pair may oscillate between $140 and $185 for several days.
A significant movement is likely to begin on a breakout above $185 or below $140. If the price sharply declines from the moving averages and breaks under $140, the pair could plunge to $110. Conversely, a break above $185 could propel the pair to $210 and then $220.
Related: Why is XRP price up today?
Dogecoin price prediction
Dogecoin (DOGE) remains above the $0.16 level; however, the inability to initiate a strong rebound suggests weak buying from bulls.
The downsloping 20-day EMA ($0.19) and the RSI in negative territory increase the risk of a fall below $0.16. If that occurs, the DOGE/USDT pair could drop to the $0.14 support. The bulls will attempt to defend this level vigorously, as a break could lead to a decline to $0.10.
Buyers face a significant challenge in breaking through the $0.21 resistance to pave the way for a rally to the $0.26 level. A new upward movement could commence on a breakout above $0.26.
Cardano price prediction
In Cardano (ADA), buyers are trying to protect the $0.60 level, but the rebound appears feeble, raising the risk of a breakdown below this support.
The declining 20-day EMA ($0.67) and RSI in negative territory suggest a bearish advantage. If the price retreats from the moving averages and breaks below $0.60, the ADA/USDT pair may tumble to $0.50.
Buyers will need to push the price above the moving averages to avert downside potential. This could enable the pair to reach the downtrend line, where sellers are likely to mount a strong challenge.
Hyperliquid price prediction
Hyperliquid (HYPE) has resumed its uptrend after buyers pushed the price above the $44 resistance on Monday.
If bulls maintain the price above $44, the HYPE/USDT pair may aim for the next target of $50. Such a movement would negate the emerging negative divergence on the RSI, indicating that bulls are reclaiming control.
The 20-day EMA ($37.71) acts as vital support to monitor on the downside. A decline below the 20-day EMA could prompt short-term buyers to take profits, potentially dropping the pair to the 50-day SMA ($30.37).
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.
