Bitcoin and Altcoins Show Strength, But US Macro, Iran War Rally May Take Off

Bitcoin (BTC) reclaimed the $72,000 level as bulls tried to push the price to a multi-month range high. Although low standards are attracting buyers, maintaining high standards can be a challenge.

Coin Bureau founder and market analyst Nick Pukrin told Cointelegraph that for BTC to reach $90,000, the geopolitical tensions must end, which would bring oil prices back to $80. In addition, economic data should be softened to calm investor fears that inflation could hamper the US economy.

Another cautious view came from CoinEx exchange chief analyst Jeff Ko, who told Cointelegraph that the short-term sentiment “especially on oil, dollar and inflation expectations is weak and heavily macro-driven.” Analysts were more confident in the medium term as they did not expect oil prices to rise due to supply-demand fundamentals.

Regarding price levels, macro analyst Jordi Visser said on Anthony Pompliano's podcast that if BTC sells above $76,000 and Ether (ETH) above $2,400, a sustained move could begin.

Can buyers break the profit barrier in BTC and major altcoins? 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 ) opened and closed above its 50-day simple moving average (6,761) on Wednesday, indicating that the correction phase may be over.

The 20-day exponential moving average (6,657) has started to rise, and the relative strength index (RSI) is in the positive range, which shows a slight edge to the bulls. Any pullback is expected to find support at the 20-day EMA. If the price continues above the 20-day EMA, the bulls will look to push the index to its all-time high of 7,002.

Conversely, if the price declines and breaks below the 20-day EMA, it indicates that the bears are selling in rallies. That raises the possibility of regional formation in the near future.

US dollar index price forecast

Sellers are trying to push the US Dollar Index (DXY) below the 50-day SMA (98.67), but the bulls are holding their ground.

A break above the 50-day SMA is expected to sell at the 20-day EMA (99.34). If the price breaks below the 20-day EMA and breaks below the 50-day SMA, it suggests that the indicator will continue to swing in a larger range between 95.55 and 100.54 for some time.

Conversely, a close above the 20-day EMA indicates demand at lower levels. The bulls will again try to push the price above the 100.54 resistance.

Bitcoin price prediction

BTC has returned to the 20-day EMA ($70,209), which the bears are strongly defending from the $74,000 to $76,000 zone.

A break above the 20-day EMA on Monday indicates that the bulls are buying on the dip. That includes the critical $76,000 resistance. As the close above $76,000 completes an upward triangle pattern, sellers are expected to defend the level with all their might. That clears the way for a rally to $84,000.

Sellers may have other plans. They will try to pull the BTC/USDT pair below the moving averages. If they succeed, the price of BTC can go down to the support line. A close below the support line tilts in favor of the bears.

Ether price prediction

ETH has returned to the 20-day EMA ($2,154), which is an important support to watch in the short term.

If the price of ETH rebounds strongly from the 20-day EMA, it suggests that the bulls will buy on the dips. That improves prospects for a rally above $2,386 resistance. If that happens, the ETH/USDT pair could rise to $2,800.

Alternatively, a break below the moving averages indicates that the bears are moving higher. That could point to a consolidation between $1,916 and $2,386 for some time.

BNB price prediction

Buyers are struggling to push BNB (BNB) above the moving averages, which the bears are trying to take control of.

Sellers will try to strengthen their position by pulling the price of BNB below the $570 level. If they manage to do that, the BNB/USDT pair can continue to decline towards the next target objective at $500.

Conversely, if the price breaks from the current level or the $570 support and rises above the moving average, it suggests that the pair may stay in range for a few more days.

XRP price prediction

XRP (XRP) remains stuck between the $1.27 level and the 50-day SMA ($1.37), indicating a balance between supply and demand.

Sellers will try to dominate by pulling XRP price below $1.27 support. If they can pull through, the XRP/USDT pair may drop to $1.11 and then to the support line of the descending channel pattern.

If the price reverses and breaks above the moving averages, this negative view is worthless in the near term. That opens the doors for a rally to the downtrend line, which is expected to act as strong resistance.

Solana price forecast

Solana (SOL) declined from the 50-day SMA ($85) on Sunday, indicating that the bears are selling in short rallies.

Sellers will try to bring down the price of SOL to the level of $ 76, which can attract buyers. If the price recovers from the $76 level, the bulls will try to break the 50-day SMA. If they succeed, the SOL/USDT pair could extend its stay in the $76 to $98 range for some time.

A close below $76 indicates that the bears are in control. That increases the possibility of a drop below the $67 level.

Related: Strategy Buys 13,927 Bitcoin For $1B, Holdings Near 800,000 BTC

Dogecoin price prediction

Dogecoin (DOGE) is being squeezed between the moving averages and $0.09 support, indicating potential range expansion over the next few days.

If the price of DOGE continues lower and closes below the $0.09 support, this indicates that the bears have beaten the bulls. The DOGE/USDT pair may drop to $0.08 and then to $0.06 support.

Time is running out for the bulls. They need to push the price above the moving averages and sustain it to start a rally. The pair may then rise to $0.11 and then, to the $0.12 level.

High Liquidity Price Prediction

Buyers failed to push HyperLiquid (HYPE) above $43.76 on Saturday, indicating that the bears will defend the level.

A positive sign in favor of the bulls is that they are not giving much ground to the bears. That includes a break above the $43.76 level. If that happens, the price of HYPE could rise to $50.

Contrary to this assumption, if the price declines and breaks below the 20-day EMA, it suggests that the bulls have given up. The HYPE/USDT pair may descend towards the 50-day SMA ($35.99).

Cardano price prediction

Cardano (ADA) fell below the $0.25 level on Sunday, indicating that the bears are trying to take charge.

The $0.23 level is an important support to watch on the downside. If the level is broken, ADA price may drop to the February 6 low of $0.22 and later to the support line of the descending channel pattern.

The first sign of strength will be a break and close above the 50-day SMA ($0.26). Sellers try to stop the rally on the downtrend line; If the bulls lose, the ADA/USDT pair could signal a possible trend reversal.