Key Takeaways:
- Bitcoin is approaching the $100,000 mark, facing potential resistance from bears.
- Altcoins are showing resilience above support levels, hinting at a possible rally.
- Technical analysis and price predictions for top cryptocurrencies are provided.
Bitcoin (BTC) has broken above the $95,000 barrier and is now targeting the significant $100,000 level. This price point is expected to be a battleground between bulls and bears. Veteran trader Peter Brandt suggests Bitcoin could potentially rally to $125,000-$150,000 by August or September 2025 if it regains its broken parabolic slope. However, he warns of a possible sharp correction afterward.
On-chain analytics firm Glassnode cautions that long-term holders (LTHs) might be tempted to take profits as Bitcoin nears $100,000. Historically, LTHs tend to book profits when their profit margin reaches 350%, a level that will be achieved around $99,900. Overcoming potential selling pressure will require significant buy-side demand.
Let’s delve into the technical analysis and price predictions for Bitcoin and select altcoins:
Bitcoin (BTC) Price Prediction
Bitcoin’s move above $95,000 indicates bullish momentum, but bears are likely to challenge this advance.
Potential Scenario 1 (Bullish): If buyers maintain momentum, BTC could break above $100,000 and potentially reach $107,000. Continued buying pressure is crucial.
Potential Scenario 2 (Bearish): A pullback below $95,000 could lead to a test of the 20-day EMA ($91,391). A break below this level could trigger a further decline to the 50-day SMA ($86,236).
Ether (ETH) Price Prediction
Ether’s bounce from the 20-day EMA ($1,757) signals buying interest at lower levels.
Potential Scenario 1 (Bullish): Holding above $1,857 could propel ETH to the $2,111 resistance level. A minor hurdle lies at $1,957.
Potential Scenario 2 (Bearish): A break below the moving averages could lead to a plunge toward $1,537, where buying support is anticipated.
XRP Price Prediction
XRP is trading above the moving averages, but the bounce lacks conviction.
Potential Scenario 1 (Bullish): A break and close above the resistance line could trigger a rally toward $3.
Potential Scenario 2 (Bearish): A break below the moving averages could send XRP to the $2 support level. A breach of $2 could lead to a decline to $1.61.
BNB Price Prediction
BNB is experiencing a tug-of-war between buyers and sellers around the moving averages.
Potential Scenario 1 (Bearish): Staying below the moving averages could push BNB down to $576 and then $566. A break below $566 might trigger a drop to $520.
Potential Scenario 2 (Bullish): A push above $620 would signal strength and could lead to a rise to $644, followed by a potential surge to $680.
Solana (SOL) Price Prediction
Solana faces selling pressure at $153, but bulls are holding their ground.
Potential Scenario 1 (Bullish): Sustaining above $153 could lead to a rally to $180.
Potential Scenario 2 (Bearish): A sharp decline below the 20-day EMA could indicate profit-taking and potentially lead to a drop to the 50-day SMA ($132).
Dogecoin (DOGE) Price Prediction
Dogecoin bounced off the moving averages, suggesting bullish attempts to maintain its position within the range.
Potential Scenario 1 (Bullish): Pushing to the top of the range at $0.21 could trigger a double-bottom pattern formation, potentially leading to $0.25 and then $0.28.
Potential Scenario 2 (Bearish): A break below the moving averages opens the door to a fall towards the range support at $0.14, with a potential decline to $0.10 if that level breaks.
Cardano (ADA) Price Prediction
Cardano saw buyers stepping in at the moving averages, but the rebound lacked strength.
Potential Scenario 1 (Bullish): Driving above $0.75 resistance could pave the way for a rally to $0.83 and potentially $1.
Potential Scenario 2 (Bearish): A break below the moving averages could trigger a slide to $0.58.
Sui (SUI) Price Prediction
Sui faced resistance at $3.90, with bears defending the level aggressively.
Potential Scenario 1 (Bullish): A strong rebound off the 20-day EMA ($3.01) could lead to another attempt to break above $3.90, potentially reaching $4.25 and $5.
Potential Scenario 2 (Bearish): Breaking below the 20-day EMA could trigger a slump to the $2.86 support.
Chainlink (LINK) Price Prediction
Chainlink rebounded from the moving averages, indicating positive sentiment.
Potential Scenario 1 (Bullish): Pushing above the $16 resistance and breaking the descending channel’s resistance line could signal a trend change.
Potential Scenario 2 (Bearish): A decline from the overhead resistance and a break below the moving averages could lead to a drop to $11.68.
Avalanche (AVAX) Price Prediction
Avalanche bounced off the 20-day EMA ($20.89), suggesting buying on dips.
Potential Scenario 1 (Bullish): Propelling above $23.50 could complete a double-bottom pattern, potentially leading to $28.78 and $31.73.
Potential Scenario 2 (Bearish): A break below the 50-day SMA ($19.79) could signal continued range-bound action.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies involves significant risk. Conduct thorough research before making any investment decisions.
