Bitcoin Risk Of Drop To $100K Raised, Altcoins Remain Soft

Key points:

• Bitcoin bulls are trying to keep the price above $107,000, but the bears continue to exert selling pressure.

• The rally in most major altcoins has faded, suggesting that bears continue to sell on minor rallies.

Buyers managed to keep Bitcoin (BTC) above the vital support level of $107,000, but the lack of a strong rebound suggests that the bears have maintained their pressure. Short-term uncertainty has divided analysts on where BTC will go next.

Jeff Kendrick, global head of digital asset research at Standard Chartered Bank, told Cointelegraph that Bitcoin remains on track to reach $200,000 by the end of 2025. Kendrick believes investors will view the recent selloff as a buying opportunity, pushing Bitcoin higher.

On the other end of the spectrum is veteran trader Peter Brandt, who sees similarities between Bitcoin’s chart and the soybean market of the 1970s, which fell by 50% after global supply exceeded demand. Brandt told Cointelegraph that Bitcoin is forming an extended upper chart pattern, “famous for tops,” which could bring the price down to around $60,000.

What are the critical support levels to pay attention to in BTC and major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price forecast

Bitcoin rose sharply on Tuesday, but the bears halted the recovery attempt at the 50-day simple moving average ($114,137).

Sellers will try to strengthen their position by pulling the Bitcoin price below the $107,000 support level. If they succeed, the risk of having psychological support reduced by $100,000 increases. Buyers are expected to defend the $100,000 level with all their might as failure to do so could start a new downtrend.

The first sign of strength will be a break and close above $116,000. This suggests that the BTC/USDT pair may remain within the $107,000 to $126,199 range for some time.

Ethereum price prediction

The price of Ethereum (ETH) fell from its 20-day EMA ($4,062) on Tuesday, suggesting that bears are selling in slight rallies.

The bears will try to sink Ethereum price below the support line of a descending channel pattern. If they manage to do this, the selling could surge, and ETH/USDT risks a drop to $3,350.

Buyers will have to push the price above the moving averages to indicate that the pair may stay within the channel for a longer period. Bulls will have the upper hand when closing above the resistance line.

BNB price forecast

BNB Coin (BNB) has been trading between moving averages since Friday, indicating a tough battle between the bulls and the bears.

The 20-day EMA ($1,122) and RSI in negative territory indicate a slight advantage for the bears. A close below the 50-day simple moving average ($1,041) signals the start of a new downtrend to $932.

Conversely, a close above the 20-day EMA indicates that the bulls have outmaneuvered the bears. This opens the doors for a comfortable rally to the 50% Fibonacci retracement level at $1,198.

XRP price prediction

XRP (XRP) bounced off the $2.30 support level that faded at the 20-day EMA ($2.55) on Tuesday, indicating negative sentiment.

The bears will try to capitalize on their advantage by pulling the XRP price below the $2.19 support level. If they can achieve this, the XRP/USDT pair could fall to $2.06 and then to $1.90.

Buyers would have to quickly push the price above the 20-day EMA to signal a return. The pair may then rise to the 50-day simple moving average ($2.79) and subsequently to the downtrend line. A close above the downtrend line indicates the end of the corrective phase. The pair may then rise towards the $3.38 level.

Solana price forecast

Solana (SOL) pulled back from the 20-day EMA ($198) on Tuesday, suggesting that the bears are trying to maintain control.

The SOL/USDT pair could slide to the support line of a descending channel pattern, where buyers are expected to enter. The bulls will have to push Solana price above the 20-day EMA to indicate that the pair may stay inside the channel for a longer period. It is possible to start a new upward movement when closing above the resistance line.

Sellers likely have other plans. They will try to sink the price below the support line. If they can achieve this, the pair could fall to $155 and then to $145.

Dogecoin price forecast

Dogecoin (DOGE) failed to rise above the 20-day EMA ($0.21), suggesting that the bears are selling in slight rallies.

Dogecoin price could drop to $0.18, which is an important support to pay attention to. If the downward move pulls DOGE/USDT below $0.18, the next stop point will likely be $0.16 and eventually $0.14.

Contrary to this assumption, if the price rises sharply and breaks above the 20-day EMA, this indicates that selling pressure is declining. The pair could rise to the 50-day simple moving average ($0.23) and then to the strong overall resistance at $0.29.

Cardano price prediction

Cardano (ADA)’s recovery attempt could not even reach the 20-day EMA ($0.70), indicating a lack of demand at higher levels.

The bears will try to increase their advantage by pulling Cardano price below the $0.59 support level. If they succeed, the ADA/USDT pair could fall to the crucial support level at $0.50. Buyers are expected to defend the $0.50 level with all their might as a close below it paves the way for a drop to $0.40.

This negative sentiment will be invalidated in the near term if the price rises and rises above the $0.75 breakdown level. The pair may then rise to the downtrend line.

Related to: BNB Price Analysis: This is why bulls should hold $1k

Excessive liquids price forecast

Hyper Liquid (HYPE) has dropped from the neckline of a head and shoulders pattern, indicating that the bears are still in control.

The 20-day EMA ($40.09) and the RSI in negative territory increase the possibility of further decline. There is support at $33.28, but if this level breaks, HYPE/USDT could fall to $30.50 and then to $28.

The bulls will have to push and maintain the price of Hyperliquid above the neckline to indicate that the selling pressure is declining. The pair may rise to the 50-day simple moving average ($46.42) and then to $51.

Chainlink price prediction

Chainlink (LINK) fell near the support line of a bearish channel pattern after buyers failed to push the price above the 20-day EMA ($19.02).

Sellers will try to bring the price below the support line and retest the $15.43 level. Frequent retesting of the support level weakens it. If the $15.43 level breaks, Chainlink price could fall to $12.73.

The bulls will have to push and maintain the price above the 20-day EMA to indicate strength. LINK/USDT could then rise to the resistance line, where the bears are expected to sell aggressively.

Predicting star prices

Bears halted Stellar’s (XLM) rally near the 20-day EMA ($0.34) on Tuesday, indicating negative sentiment.

The XLM/USDT pair is in danger of falling to $0.29, which is an important support to pay attention to. If the support at $0.29 breaks, the selling could accelerate, and Stellar price could drop to $0.25.

Buyers will have to push the price and keep it above the breakdown level of $0.34 to indicate strength. The pair could then rise to the downtrend line, where the bears are expected to pose a strong challenge. A close above the downtrend line indicates a potential trend change.

This article does not contain investment advice or recommendations. Every investment and trading move involves risks, and readers should conduct their own research when making a decision.