Bitcoin Charts Project Fresh Low In $50K Range: Will Altcoins Follow?

Key Points:-

Bitcoin remains under pressure, and damage could accelerate if the $65,118 level is breached.

Many major altcoins are trying to recover, but the bears remain sellers on rallies.

Bitcoin (BTC) bulls are trying to hold the price above $67,000, but bears continue to put pressure. Analysts who chose a positive sign for the bulls believe that BTC may go down.

Analyst Jelle said in a post on X that all but BTC's major levels were formed between the 200-week simple average ($58,371) and the 200-week exponential moving average ($68,065). BTC trading near the 200-week EMA suggests that a bottom formation may have begun.

Similarly, in a post on X, Matrixport said that BTC may be making a permanent bottom. When Matrixport's 21-day moving average daily sentiment indicator drops below zero and starts to rise, it indicates that the selling pressure is weakening. Although this does not rule out a decline in the near term, the readings indicate that BTC may be approaching another inflection point.

Another positive forecast for BTC comes from Wells Fargo analyst Osung Kwon. In a note seen by CNBC, Kwon said tax refunds, mostly from high-income consumers, could flow into stocks and BTC, creating a “YOLO” business.

Can BTC and the major altcoins overcome the resistance levels above? Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

BTC is showing higher lows in the short term, but the bulls failed to push the price above the $74,508 breakout.

Buyers can make another attempt to break the resistance at the 20-day EMA ($72,282) and $74,508 level. If they can pull through, the BTC/USDT pair may rally towards the 50-day SMA ($83,129).

Sellers may have other plans. They will try to defend the 20-day EMA and drag the price of Bitcoin below the immediate support of $65,118. If they can do that, the pair could fall to strong support at $60,000.

Ether price prediction

The bulls kept Ether (ETH) above immediate support at $1,897, indicating buying on the dips.

Buyers will try to clear the profit barrier at the 20-day EMA ($2,183). If they succeed, the ETH/USDT pair could start a strong recovery towards the 50-day SMA ($2,707).

Conversely, if the price of Ether declines and breaks below $1,897, it suggests that the bears are trying to take charge. The pair could drop to critical support at $1,750. Buyers are expected to defend the $1,750 level with all their might.

XRP price prediction

XRP (XRP) has been trading below the 20-day EMA ($1.52), which continues to put pressure on the bulls.

This is a break above the 20-day EMA and a break above the $1.61 breakout level. XRP price may rise to 50-day SMA ($1.80), XRP/USDT pair may remain in the channel for some time.

To signal a short-term trend reversal, buyers need to push the price above the lower line. Conversely, if the price falls below the support line, a deep downtrend may begin.

BNB price prediction

BNB (BNB) has been trading in a narrow range over the past few days, indicating indecision between bulls and bears.

If the price of BNB declines and falls below the $570 support, it indicates the resumption of the downtrend. The BNB/USDT pair may extend its decline to the psychological level at $500.

Buyers should press and hold the price above the 20-day EMA ($676) to signal that the selling pressure is easing. The pair can be raised to $730 and then to $790.

Solana price forecast

Solana (SOL) is facing resistance near the $95 breakout level, indicating that the bears are moving higher.

The bears will try to strengthen their position by pulling Solana's price below the $76 support. If they can do that, it suggests that the bears have turned the $95 level into resistance. The pair could retest the February 6 low of $67.

Buyers must overcome the $95 threshold to apply for a refund. If they can pull, the SOL/USDT pair can climb to the 50-day SMA ($116), the sellers are expected to have a strong resistance.

Dogecoin price prediction

Dogecoin (DOGE) has been trading below the 20-day EMA ($0.10), indicating a lack of selling at lower levels.

That adds to the possibility of a rally above the 20-day EMA. The DOGE/USDT pair could climb to the 50-day SMA ($0.12). Sellers will try to stop the recovery at the level of $0.12, but if the bulls overcome the resistance, the price of Dogecoin may rise to the level of $0.16.

Instead, if the price breaks from the $0.12 resistance, it would suggest a potential range formation in the near term. The pair may fluctuate between $0.08 and $0.12 for a few days.

Bitcoin Cash price prediction

Bitcoin Cash (BCH) is stuck between moving averages, which shows uncertainty about the next directional movement.

The upside of the 20-day EMA ($547) and RSI suggest that the midpoint may be above. If that happens, the price of Bitcoin Cash may increase to $600 and then to $630.

Contrary to this assumption, if the price declines and breaks below the 20-day EMA, it indicates that the bears have beaten the bulls. That could start a $500 correction for the next support.

RELATED: 4 Data Points Point to XRP Price Down at $1.12: Are Bulls Ready to Take Over?

High Liquidity Price Prediction

Hyperliquid (HYPE) closed below its 20-day EMA ($30.26) on Tuesday, indicating strong oversold.

Buyers will try to keep the price of Hypeliquid above the 50-day SMA ($27.74), but if the bears win, the HYPE/USDT pair could drop to a strong support at $20.82. The flat 20-day EMA and RSI below the midpoint suggest range-bound action between $20.82 and $35.50 in the near term.

The first sign of strength for the bulls is the close above the $32.50 level. That opens the door for a rally to the $35.50 to $38.42 defense zone.

Cardano price prediction

Cardano (ADA) is stuck with the 20-day EMA ($0.29), which indicates that the bulls have continued the pressure.

A break above the 20-day EMA is highly likely. If that happens, the ADA/USDT pair may break out of the downtrend line, which is expected to act as strong resistance. If buyers fall below the lower line, the price of Cardano may increase to $0.44 and then to $0.50.

To regain control, sellers must pull the price below the support line. If you manage to do that, the pair can drop to $0.15.

Monero price prediction

Monero (XMR) remains below the $360 breakout, but a positive sign is that the bulls have not allowed the price to drop below the $309 immediate support.

Buyers need to push the price of Monero above the 20-day EMA ($366) to gain dominance. The XMR/USDT pair may rise to the 50-day SMA ($449), where the bears are expected to move in.

A break and close below $309 indicates that the bears remain in control. The pair may retest the crucial $276 support. A strong rebound from the $276 level could result in range-bound action for a few days.