Bitcoin and Altcoin Price Predictions: A Comprehensive Analysis
Bitcoin (BTC) has been experiencing a significant surge in price, with bulls pushing the price above $105,000 on Wednesday. However, bears quickly capitalized on the rally, pulling the price below $102,000. This volatility suggests that bears are not ready to give up their advantage just yet. According to Morgan Stanley Wealth Management investment strategist Denny Galindo, Bitcoin’s price cycle is in the “fall season,” where profits should be booked before winter sets in.
Expert Insights and Predictions
Dan Tapiero, the founder of 10T Holdings, has a slightly different short-term view. In an interview with Cointelegraph, Tapiero stated that the bull market is intact and is on track to reach $180,000 in the current bull cycle. However, he warned that BTC remains vulnerable to a 70% decline during the next bear phase. To better understand the current market trends and potential price movements, let’s analyze the charts of the top 10 cryptocurrencies.
Bitcoin Price Prediction
The bears will try to strengthen their position by pulling the price below the psychological support at $100,000. If they succeed, the selling could accelerate, and the BTC/USDT pair could crash to $87,800. On the other hand, a rise in Bitcoin price from its current levels or the $100,000 support suggests that the bulls have not given up. A break and close above the $107,000 breakout level will signal that bulls are back in charge.
Ether Price Prediction
Ether (ETH) recovery encountered an obstacle at the breakout level of the descending channel pattern. Sellers will try to strengthen their position by pushing the price below the $3,350-$3,050 support zone. If that happens, the ETH/USDT pair could start a new downtrend towards $2,500. Buyers must push and hold Ether price within the channel to indicate a comeback.
XRP Price Prediction
Buyers pushed XRP (XRP) above the 20-day EMA ($2.41) on Monday but failed to clear the hurdle at the 50-day SMA ($2.58). The bears are trying to keep the XRP price below the 20-day EMA. If they succeed, the XRP/USDT pair could challenge the November 4 intraday low of $2.06.
BNB Price Prediction
BNB (BNB)’s pullback fizzled out at the 20-day EMA ($1,022), suggesting bears are active at higher levels. The bears will attempt to push BNB price towards the solid support at $860. If the price rises sharply from $860, it will indicate that bulls are aggressively defending the level.
Solana Price Prediction
Solana (SOL) turned down from the 20-day EMA ($172) on Tuesday, suggesting that higher levels are attracting sellers. The bears are trying to push Solana price below the $155 support. If they succeed, the SOL/USDT pair could extend the decline to $126 and then to the solid support at $110.
Dogecoin Price Prediction
The bulls’ failure to push Dogecoin (DOGE) above the 20-day EMA ($0.18) suggests that the bears have maintained the pressure. Sellers will likely attempt to push the Dogecoin price to the $0.14 support level, which is a critical point to watch.
Cardano Price Prediction
Cardano’s (ADA) recovery rally stalled at the 20-day EMA ($0.59) on Monday, suggesting bears remain in control. Sellers will attempt to lower the ADA/USDT pair to the solid support at $0.50, where buyers are expected to intervene.
Hyperliquid Price Prediction
Buyers repeatedly attempted to push Hyperliquid (HYPE) above the 50-day SMA ($42.45), but the bears successfully held this level. The bulls and the bears are witnessing a tough battle for the neckline. If the level is held, bulls will once again attempt to push the Hyperliquid price above the 50-day SMA.
Chainlink Price Prediction
Chainlink (LINK) turned lower from the 20-day EMA ($16.50) on Tuesday but is finding support at $15.43. A small positive for the bulls is that the RSI is starting to show signs of positive divergence. This suggests that selling pressure is easing.
Bitcoin Cash Price Prediction
Bitcoin Cash (BCH) turned lower from the resistance line of the falling wedge pattern on Tuesday, but bulls failed to sustain the lower levels. The bulls are once again attempting to push Bitcoin Cash price above the resistance line. If this happens, it indicates a possible trend reversal.
This article does not contain any investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct their own research when making their decision. For more information, visit https://cointelegraph.com/news/price-predictions-11-12-btc-eth-xrp-bnb-sol-doge-ada-hype-link-bch
