Bitcoin Breaks $80K Barrier: Will Altcoins Follow?

Key Points:-

Bitcoin's rally at $79,500 opens the door to a move to $84,000. Ether, Dogecoin and Hyperliquid are showing strength, but other major altcoins are yet to accelerate.

Bitcoin (BTC) opened the new week with a rally above $80,500, suggesting that the bulls are trying to take charge. Analysts are closely watching the $80,000 level, with some believing that failure to close above it could trigger a crash. Moving to $60,000.

However, crypto analyst Matthew Hyland wrote on X that traders calling for BTC's fall to $60,000 and below will be the ‘late spinners above $90k.

BTC's 30-day liquidity chart shows this A rally of over $84,000 It triggers $2.85 billion in short liquidity across all exchanges.

Daily View of Crypto Market Data. Source: Trading view

In a positive sign for the bulls, BTC's growth continues to be supported by institutional investors. In a post on X, Charles Edwards, founder of Capriol Investments, said institutions are “depleting 500%+ of Bitcoin's daily mining supply.” Such instances have driven prices up by more than 24% in the following month. If history repeats itself. BTC may rise to around $96,000..

Can BTC and the major altcoins support the breakout? Let's examine the charts of the top 10 cryptocurrencies to find out.

S&P 500 index price forecast

The S&P 500 Index ( SPX ) remains on strong gains, rising to a new all-time high of 7,272 on Friday.

SPX daily chart. Source: Cointelegraph/TradingView

The uptrending 20-day moving average (7,043) suggests favor for buyers, while the Relative Strength Index (RSI) near the oversold zone suggests a slight consolidation or correction in the near term.

The 7,000 level is an important support to look at the downside. A break above the 7,000 level indicates that the bulls have flipped it to support. That boosted the rally to 7,500.

Conversely, a close below the 7,000 support could sink the index to its 50-day simple moving average (6,827).

US dollar index price forecast

The US Dollar Index (DXY) is stuck between the 50-day SMA (98.97) and support at 97.74.

DXY Daily Chart. Source: Cointelegraph/TradingView

The downtrending 20-day EMA (98.61) and RSI in negative territory indicate that bears have little advantage. If the price breaks below the 97.74 support, the index may drop to the 96.21 level.

Conversely, a close above the 50-day SMA suggests that the bulls are on a comeback. The index may rise to the resistance level of 100.54, buyers expect strong selling pressure from bears.

Bitcoin price prediction

BTC broke above the $79,500 resistance, indicating a resumption of growth towards $84,000.

BTC/USDT Daily Chart. Source: Cointelegraph/Trading view

The baby boom at $84,000 is expected to receive strong selling pressure, but if the bulls prevent the price of BTC from falling below the 20-day EMA ($76,634), the possibility of a breakout will increase. If the $84,000 level is broken, the BTC/USDT pair may rise to the $92,000 pattern target.

Time is running out for the bears. They need to drop below $76,000 quickly to slow the bullish momentum. The pair may fall towards the 50-day SMA ($72,798).

Ether price prediction

ether (ETH) rose above the 20-day EMA ($2,298) on Friday and is moving toward $2,465 overhead resistance.

ETH/USDT Daily Chart. Source: Cointelegraph/TradingView

Sellers will try to stop the rally at the $2,465 level, but if the bulls win, the ETH/USDT pair may jump to the defensive line. If the price of ETH breaks below the resistance line and breaks below the 20-day EMA, it suggests that the pair may remain in the channel for some time.

On the other hand, a break and close above the defensive line indicates that the bulls are back in control. The pair may rise towards the $3,050 level.

XRP price prediction

Buyers pushed XRP (XRP) above the moving averages, opening the door for a rally to the downtrend line.

XRP/USDT Daily Chart. Source: Cointelegraph/TradingView

Flat moving averages and an RSI above the midpoint either don't give bulls or have a clear advantage. Buyers will gain leverage once the $1.61 level is above. The XRP/USDT pair may rally to $2, then to $2.40.

Contrary to this assumption, if the price of XRP falls below the level of $1.61, it indicates that the bears are active at a higher level. That could extend the pair's stay in the $1.27 to $1.61 range for some time.

BNB price prediction

BNBBNB) has been trading near its moving average over the past few days, indicating indecision between bulls and bears.

BNB/USDT Daily Chart. Source: Cointelegraph/TradingView

Flat moving averages and an RSI above the midpoint suggest that the BNB/USDT pair may remain in the $570 to $687 range for a few more days.

The next trending move is expected to start above $687 or below $570. If the bulls push the price of BNB above the $687 resistance, the pair is expected to accelerate and rise to $790. Alternatively, a close below $570 would signal a resumption of the downside towards $500.

Solana price forecast

Solana (SOL) is trying to break above the moving averages, indicating interest in lower levels.

SOL/USDT Daily Chart. Source: Cointelegraph/TradingView

A close above the moving averages could push the price of SOL towards the $90.73 resistance. Sellers will try to defend the $90.73 level, but if the bulls win, the SOL/USDT pair could rise to $98.

On the downside, bears need to press the price below $82.65 to dominate. If they do, the pair could drop to strong support at $76. The next trending move is expected to start below $98 or $76.

Related: BTC Price Could ‘Easily' Hit $95K: Five Things to Know in Bitcoin This Week

Dogecoin price prediction

Dogecoin (Doug) broke above the $0.11 resistance level, clearing the way for a rally to $0.12.

DOGE/USDT Daily Chart. Source: Cointelegraph/TradingView

The 20-day EMA ($0.10) has started to turn, and the RSI is in the overbought zone, indicating that the buyers have an edge. Sellers are expected to mount strong resistance at the $0.12 level, but if buyers finish, the rally could reach $0.14 and eventually $0.16.

Instead, if the price of DOGE drops significantly below $0.12 and breaks below the moving average, it would suggest that the bears are sellers in the rallies. That could keep the DOGE/USDT pair in the $0.09-$0.12 range for a few more days.

High Liquidity Price Prediction

high fluid (Hype) is holding above the 20-day EMA ($41.04), but the long wick on the candle indicates oversold.

HYPE/USDT Daily Chart. Source: Cointelegraph/TradingView

The increase is expected to wait for selling pressure in the protection zone of $43.76 to $45.77. If the price of HYPE declines from the current level or the upper zone and breaks below the 50-day SMA ($40.11), the upside is tilted to the bears. The HYPE/USDT pair may drop to $38.70.

Conversely, a break and close above the header zone indicates a resumption of the uptrend. The pair may rise to $50 and then to $51.43.

Cardano price prediction

Cardano (ADA) has risen above the lower line, but the bulls are facing strong resistance at the 50-day SMA ($0.25).

ADA/USDT Daily Chart. Source: Cointelegraph/TradingView

The RSI has risen above the midpoint, indicating slight upside for the bulls. If buyers push the price above the 50-day SMA, the ADA/USDT pair could rise to $0.29, then to $0.31. Sellers are expected to make a strong challenge at the $0.31 level, as above it suggests that the pair may be down in the short term.

The $0.22 level is critical support to watch on the downside. If the price of ADA declines and breaks below the $0.22 support level, it will signal the resumption of the downtrend.