Crypto Market Analysis 2/4: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, XMR Price Forecasts
Bitcoin's value dropped to $72,169, marking its lowest point in 15 months, prompting analysts to suggest BTC could potentially test its realized price around $56,000 within the coming months. Can technical indicators suggest a potential bounce before the weekend arrives?
Essential highlights:
- BTC continues to face downward pressure as sellers work to maintain the price beneath the important $74,508 threshold.
- Numerous leading altcoins face challenges in rebounding from their support zones, raising the probability of a renewed downward movement.
Bitcoin (BTC) buyers made an effort to initiate a rebound, however sellers emerged at elevated prices and drove the valuation beneath $72,169. According to Alex Thorn, the research lead at Galaxy Digital, in a Monday note, BTC might decline toward its realized price level of $56,000 throughout the upcoming weeks as a result of insufficient catalysts capable of reversing the current trajectory.
The bearish sentiment isn't universal for BTC, as certain analysts forecast a bottom formation in the near future. Matt Hougan, the chief investment officer at Bitwise, stated in an X article that cryptocurrency markets are expected to "come roaring back sooner rather than later."
Nevertheless, based on a particular historical pattern, the recovery for BTC might require considerable time. Crypto advocate Brett mentioned in an X post that BTC completed trading beneath the 100-week simple moving average. In earlier occurrences when a breakdown below the 100-week SMA happened, BTC remained underneath this level for periods ranging from 182 to 532 days. The sole exception occurred during the 2020 COVID-19 flash crash scenario when BTC climbed back above the 100-week SMA within just 35 days.
Will BTC along with the leading altcoins initiate a relief bounce, or are the support zones about to break down? Let's examine the technical charts of the top 10 cryptocurrencies to determine the outcome.
Bitcoin price prediction
Bulls are finding it difficult to sustain BTC above the crucial $74,508 support level, which indicates intense selling pressure from the bears.
Should Bitcoin price continue its descent and fall beneath $72,945, this would indicate the downtrend is resuming. The BTC/USDT pair could then experience a collapse toward the robust support zone at $60,000.
The relative strength index (RSI) currently resides in the oversold territory, which suggests that the selloff may have been excessive in the short term. This elevates the probability of a relief rally materializing, which could gain momentum upon achieving a close above the $79,500 resistance level. Should this scenario unfold, the pair could advance toward the breakdown threshold of $84,000.
Ether price prediction
Ether (ETH) found support at the critical $2,111 level on Tuesday, however the modest recovery indicates insufficient aggressive purchasing from the bulls.
The bears are working to restart the downtrend by dragging the Ether price beneath the $2,111 support zone. Should they succeed in accomplishing this, the ETH/USDT pair could drop significantly to $1,750.
The RSI positioned in the oversold region indicates a potential relief rally could materialize in the short term. The pair could climb to the 38.2% Fibonacci retracement level of $2,467 before advancing to the 20-day exponential moving average ($2,712). A closing price above the 20-day EMA would suggest the bulls have regained control.
BNB price prediction
BNB (BNB) remains trading beneath the $790 threshold, which amplifies the risk of a breakdown below the $730 support level.
Should the BNB price close beneath the $730 threshold, this would indicate the bears have successfully converted the $790 level into a resistance zone. The BNB/USDT pair could then decline to $700 followed by a further drop to $645.
The opportunity is diminishing for the bulls. They must protect the $730 level and rapidly drive the price above the $790 resistance to avoid the downward movement. The pair could then ascend to the 20-day EMA ($839).
XRP price prediction
The inability of the bulls to keep XRP (XRP) above the $1.61 threshold demonstrates that the bears are actively selling during small relief rallies.
Bears will work to push the XRP price beneath the support line of the descending channel pattern. Should they achieve this objective, the XRP/USDT pair could revisit the Oct. 10, 2025, low of $1.25.
Regarding the upside, the bulls must propel the price above the 20-day EMA ($1.79) to indicate that the pair could remain confined within the channel for an extended period. A close above the downtrend line would signal a potential reversal in the short-term trend.
Solana price prediction
The inability of the bulls to drive Solana (SOL) above the $107 threshold triggered renewed selling activity, which dragged the price beneath the crucial $95 support.
Should the Solana price close beneath $95, this would signal the beginning of the subsequent phase of the downtrend. The SOL/USDT pair could then fall to $79.
In contrast to this scenario, if the price reverses upward and surges above $107, this suggests that the breakdown beneath the $95 level could have been a bear trap. The pair could then climb to the 20-day EMA ($117), where the bears are anticipated to intervene. Buyers must overcome the moving averages to demonstrate that the bearish momentum is diminishing.
Dogecoin price prediction
Dogecoin (DOGE) is working to initiate a recovery, however the limited bounce reveals that the bears maintain their pressure.
Should the Dogecoin price reverse downward from the present level or the 20-day EMA ($0.12) and breaks beneath $0.10, this would signal the downtrend is resuming. The DOGE/USDT pair could then plummet to the $0.08 threshold.
In contrast to this scenario, if the price turns upward and breaks above the moving averages, this indicates that the market has rejected the breakdown beneath the $0.12 level. The pair could then surge to $0.16.
Cardano price prediction
Cardano (ADA) is working to rebound from the support line of the descending channel pattern, however the relief rally demonstrates limited strength.
Should the Cardano price reverse downward from the present level or the 20-day EMA ($0.33), this indicates that the bears maintain their advantage. Sellers will then make another attempt to drive the ADA/USDT pair beneath the support line and continue the decline to $0.20.
In contrast to this scenario, if buyers drive the price above the 20-day EMA, the pair could advance to the downtrend line. A close above the downtrend line would open the path for a rally to the breakdown threshold of $0.50.
Bitcoin Cash price prediction
Bitcoin Cash's (BCH) rebound is encountering resistance near the 50% retracement threshold of $535, which indicates that the bears remain active at elevated levels.
Sellers will work to drag the Bitcoin Cash price beneath the $497 threshold, which represents a critical level to monitor closely. Should this level break down, the BCH/USDT pair could fall to $467 followed by a further decline to $443.
On the other hand, if buyers propel the price above $544, the pair could jump to the 20-day EMA ($562). Sellers are anticipated to establish a robust defense at the 20-day EMA, however if the bulls overcome this resistance, the pair could advance toward $604.
Hyperliquid price prediction
Hyperliquid (HYPE) penetrated the $35.50 resistance on Tuesday however the extended wick on the candlestick reveals selling activity at elevated levels.
Should buyers refrain from surrendering significant ground to the bears, the likelihood of a breakout above the $35.50 threshold increases. Should this materialize, the HYPE/USDT pair could surge to $44. This type of movement would signal that the corrective phase could be concluded.
Alternatively, if the Hyperliquid price reverses sharply downward from the present level and drops beneath the 20-day EMA ($28.79), this suggests that the pair could continue to fluctuate between $35.50 and $20.82 for an extended duration.
Monero price prediction
Monero (XMR) is working to establish support at the $360 threshold, however the relief rally will likely encounter selling at $412 followed by the 20-day EMA ($461).
Should the Monero price reverse downward from the present level or the overhead resistance, this indicates that the sentiment continues to be negative and traders are offloading during rallies. This places the $360 level in jeopardy of breaking down. The subsequent support on the downside is positioned at $320.
Conversely, if buyers drive the price above the 20-day EMA, the XMR/USDT pair could climb to $500. Buyers are anticipated to encounter substantial selling at the $500 threshold. Typically, following a sharp decline, the price tends to consolidate for some duration before establishing the next directional movement.
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