Bitcoin, Altcoin Gains Continue But Top Sellers Force Range Ceiling

Key Points:-

Bitcoin bulls are struggling to sustain daily rallies, indicating that every small increase is being sold.

Select major altcoins are showing weakness, indicating a fall to their strong support levels.

Bitcoin (BTC) bulls pushed the price above $68,300 but are struggling to maintain higher levels. BTC is likely to record its fifth consecutive red monthly candle in the absence of a major rally in the next few days. It is BTC's longest losing streak since 2018/19, when it fell for six consecutive months. A slight positive for the bulls is a 131.6% rally over the next five months following a losing streak in 2018/19, according to CoinGlass data.

Another indicator that suggests an upside is Bollinger Bands. According to crypto analyst Dorkchic, the monthly bullion bands are at the “tightest” level on record. All but a crash from $20,000 to $16,000 in 2022 resulted in bullish crashes.

Although signs suggest an upward move, traders should keep a close eye on BTC exchange traded funds (ETFs) to gauge institutional activity. US spot BTC ETFs recorded a net outflow of $403.9 million this week, according to SoSoValue data. Unless there is a sharp inflow on Friday that reverses the previous three days' losses, ETFs are on a five-week outflow. Without institutional involvement, sustained recovery can be difficult.

Can buyers push BTC and pick a resistance level above the major altcoins? Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

BTC bulls kept the price above the immediate support at $65,118, which shows interest in lower levels.

Buyers need to push the price of Bitcoin above the 20-day exponential moving average (EMA) ($71,247) to dominate. If they manage to do that, the BTC/USDT pair could climb to the $74,508 breakout level. Sellers are expected to strongly defend the $74,508 level, as a break above could be the pair's short-term bottom. The pair could then move up to the 50-day simple moving average (SMA) ($82,258).

To signal strength, sellers need to push the price below the $65,118 level. The pair is likely to retest the February 6 low of $60,000, which could attract strong buying from bulls.

Ether price prediction

Ether (ETH) is consolidating between the $1,750 and $2,111 levels, indicating uncertainty about the next directional move.

There is a minor support at $1,897, but if the level is broken, the ETH/USDT pair may drop to the $1,750 support. Buyers are expected to strongly defend the $1,750 level.

The bulls are back in the driver's seat above the $2,111 resistance. If they can pull through, Ether's price may rally towards the 50-day SMA ($2,665). Sellers may try again to stop a retracement at the 50-day SMA, but if the buyers prevail, the pair may rise to $3,045.

XRP price prediction

The fall of the bulls shows that XRP (XRP) is not interested in higher levels to push above the 20-day EMA ($1.50).

The XRP/USDT pair may slide towards the support line, which is an important level to pay attention to. If the price of XRP breaks well above the support line and breaks above the 20-day EMA, it suggests that the pair may stay in the descending channel for some more time. To signal a short-term trend reversal, buyers need to pierce the lower line.

Conversely, a break and close below the support line indicates that the bears are in command. The pair may drop to $1.11 and then to $1.

BNB price prediction

BNB (BNB) is slowly sliding towards the $587 to $570 support zone, which indicates that the bears are under control.

If the price of BNB declines and slips below the support zone, the BNB/USDT pair may start the next leg of the low towards the psychological level at $500.

If the bulls push the price above the $669 resistance, this bearish view will be rejected in the near term. If that happens, the pair could rise towards $730 and the 50-day SMA ($797) breakout level. Such a move suggests that the pair may go down in the short term.

Solana price forecast

Solana (SOL) bulls are trying to keep the price above the immediate support at $76, but the cycle is not strong.

That raises the risk of a break below $76. If that happens, the SOL/USDT pair could fall back to the February 6 low of $67. Buyers are expected to install strong resistance at the $67 level, as it may sink the pair below the close to $50.

The first signal of strength is a break and close above the $95 breakout level. This indicates that the bears are losing their grip. Solana's price can be rounded to the 50-day SMA ($114).

Dogecoin price prediction

Buyers are trying to push Dogecoin (DOGE) above the 20-day EMA ($0.10), but the bears have maintained their position.

A minor positive for the bulls is that they don't leave much ground for the bears. This raises the possibility of a break above the 20-day EMA. If that happens, the DOGE/USDT pair may rally towards the $0.12 breakout level.

Contrary to this assumption, if the price of Dogecoin declines and breaks below $0.09, it indicates that the bulls have given up. That could sink the pair to the crucial $0.08 support.

Bitcoin Cash price prediction

Bitcoin Cash (BCH) slipped below the 20-day EMA ($548), indicating that the bears are trying to take charge.

If the price of Bitcoin Cash remains below the 20-day EMA, the BCH/USDT pair may drop to the next major support at $500. Buyers are expected to aggressively defend the $500 level, as a close below it could open the door to a failure of critical support at $443.

The bulls need to push and sustain the price above the 50-day SMA ($575) to signal strength. The pair could jump to $600 and later to $631. Buyers are expected to experience aggressive selling in the $631 to $670 zone.

Related: Here's what's happening in crypto today.

High Liquidity Price Prediction

Hyperliquid (HYPE) broke the 50-day SMA ($27.89) on Thursday, indicating that bulls are buying on the dips.

Buyers need to drive the hyperliquid price above $32.50 to take control. The HYPE/USDT pair may rise to the $35.50 to $38.42 resistance zone, increasing momentum.

Conversely, if the price breaks below the 20-day EMA ($30.01) and breaks below the 50-day SMA, it suggests that the bulls are losing their grip. The pair could drop to the $20.82 support, which buyers are expected to enter.

Cardano price prediction

Buyers are struggling to push Cardano (ADA) above the 20-day EMA ($0.28), but little positives haven't given the bears much ground.

The bulls will again try to drive the price of Cardano above the 20-day EMA. If they succeed, the ADA/USDT pair may move towards a strong upper resistance on the downtrend line. Buyers should move above the lower line to signal a short-term trend reversal.

Sellers may have other plans. They try to drag the price below the support line, which indicates the resumption of the downward trend. A trailing stop on the downside could be $0.15.

Monero price prediction

Monero (XMR) is consolidating in bearish conditions, indicating that the bears are continuing to push.

Sellers will try to consolidate their position by pulling the price of Monero below $309. If they manage to do that, the XMR/USDT pair could drop to the $276 level. Buyers are expected to defend the $276 level with all their might.

On the upside, the bulls should drive and sustain the price above the 20-day EMA ($360) to signal strength. The pair may rise to the 61.8% Fibonacci retracement level at $414.