Key points:
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For the first time in seven years, Bitcoin is at risk of ending October in the red.
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Many altcoins have dropped below their key support levels, indicating selling in rallies.
Bitcoin (BTC) The Bulls are trying to keep the price above $110,000, but the Bears keep putting pressure. That increases the risk of its BTC recording First-ever Red October Close in seven years. After October’s dismal performance, all eyes were on November, with an average return of 46.02%, according to coinglass data.
Many analysts are returning to BTC, signing A potential climax of the cycle Based on a four-year halving cycle. However, some others, such as Arthur Hayes of Bitmex, believe that the four-year cycle of BTC is dead.
It is difficult to predict with certainty whether the four-year cycle is over or not, but the Net outflows of $ 959.1 million From the funds traded on the BTC exchange in the past two days, according to Farside investors data, indicates that institutional investors are cautious in the near term.
What are the key support levels to watch in BTC and the major altcoins? Let’s check the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC bounced below the range near $107,000 on Thursday, indicating that the Bulls are aggressively defending the level.
The Relief Rally is expected to face selling at the 20-day moving average ($111,557). If the price drops sharply from the 20-day EMA, it raises the possibility of a break below $107,000. If that happens, the BTC/USDT pair will complete a double top pattern and could dive to $100,000.
Conversely, a break and close above the 20-day EMA suggests that Bitcoin price may stay within the $107,000 to $126,199 range for longer.
Ether price prediction
Ether (Eth) bounced off the support line of Thursday’s descending channel pattern, signaling a buy at lower levels.
The recovery may face selling in moving averages. If that happens, the Bears will again try to sink the price of ether below the support line. If they can pull it off, the ETH/USDT pair could fall to $3,350.
Buyers need to push the price above the moving averages to keep the pair inside the channel. The next leg of the UP move will likely start with a break and close above the resistance line.
BNB price prediction
BNB (BNB) is witnessing a tough battle between the Bulls and the Bears at the 50-day simple moving average ($1,084).
If the price breaks down from the 20-day EMA ($1,113) and closes below the 50-day SMA, it signals the start of a deeper correction. The BNB/USDT pair may drop to $1,021 and eventually to $932.
Conversely, if the price closes above the 20-day EMA, it suggests that the bulls are attempting a reversal. BNB price may rally to the 38.2% Fibonacci retracement level of $1,156, which may attract sellers. A close above $1,156 paves the way for a rally to the 61.8% retracement level of $1,239.
XRP price prediction
XRP (XRP) fell below the 20-day EMA ($2.54) on Thursday, signaling that the Bears are trying to maintain the advantage.
Sellers will try to strengthen their position by pulling XRP price to the $2.32 to $2.19 zone support. Buyers are expected to defend the support zone with strength, as near the bottom it may intensify selling. The XRP/USDT pair may then plunge to $1.90.
Time is running out for the Bulls. They need to quickly push the price above the moving averages to gain strength. A potential trend reversal would be signaled at a close above the downtrend line.
Solana price prediction
Solana (Sol) is trading within a symmetrical triangle pattern, indicating insensitivity about the next directional move.
If the price skids below the uptrend line, the SOL/USDT pair could drop to solid support at $155. Expect buyers to defend the $155 level, as a break below could sink the pair to $140.
If the price turns from the uptrend line and breaks above the 20-day EMA ($194), it suggests that the pair may stay inside the triangle for more time. Buyers are back in the driver’s seat after they pushed Solana’s price above the resistance line.
Dogecoin price prediction
Buyers are trying to keep dogecoin (Doge) above the $0.17 support, but the shallow bounce suggests the bears continue to apply pressure.
If the $0.17 level is cracked, the DOGE/USDT pair may drop to the $0.14 support. Buyers will try to keep the price of Dogecoin within the range by defending the level of $0.14, but if they fail in their effort, the pair may drop to the level of $0.10.
The first sign of strength will be a break and close above the $0.21 overhead resistance. The pair may climb to the 50-day SMA ($0.22) and eventually test a rally to the stiff overhead resistance at $0.29.
Cardano price prediction
Cardano (There is) continued lower and broke below the $0.59 support on Thursday, signaling that the bears will remain in control.
If the price stays below the $0.59 level, the ADA/USDT pair could plunge to solid support at $0.50. Expect buyers to defend the $0.50 level, as a break below could start a new downtrend.
On the upside, a break and close above the 20-day EMA ($0.66) suggests the bears are losing their grip. The cardano price may climb to the breakdown level of $0.75 and follow the downtrend line.
Related: XRP Price continues to lose ground despite the upcoming Ripple Swell event
Hyperliquid price prediction
Sellers again stopped the Bulls’ attempts to push the price of hyperliquid (hype) above the $51.50 overhead resistance on Thursday. That pulled the price up to the 20-day EMA ($43.10).
Buyers try to defend the 20-day EMA, but the Bears keep the selling pressure. If the price breaks below the 20-day EMA, the Hype/USDT pair may drop to the neckline and then to $35.50.
This negative view is invalid in the near term if the hyperliquid price turns and breaks above $51.50. The pair could surge to an all-time high of $59.41.
Chainlink price prediction
Consumers tried to push the chainlink (Link) above the 20-day EMA ($18.24) on Wednesday, but the Bears are holding their ground.
The collapse of the moving averages and the relative strength index into negative territory suggests that the bears will remain in control. Chainlink price may plummet to the $15.43 support, where bulls are expected to enter.
Buyers need to push and sustain the price above the 20-day EMA to signal strength. The link/USDT pair may climb above the resistance line, which is a critical level to watch.
Bitcoin cash price prediction
Bitcoin Cash (BCH) is stuck between the 20-day EMA ($530) and the resistance line of the previous days.
Bulls need to push and keep the bitcoin cash price above the resistance line to signal a potential trend change. The BCH/USDT pair may rally to $615 and eventually to $651.
Instead, if the price declines and breaks below the 20-day EMA, it suggests that the pair may remain within a falling wedge pattern for several days. The pair may slide to $500 and then $475.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.
