Bitcoin To New 2026 Low, Altcoins Crumble: Is $56K BTC Next?

Key Points:-

Bitcoin remains under pressure as bears attempt to hold the price below the critical $74,508 level.

Several major altcoins are struggling to break out of their support levels, raising the possibility of a resumption of the downtrend.

The Bitcoin (BTC) bulls tried to start a recovery, but the bears sold at a higher level and pushed the price below $72,169. Alex Thorne, head of Galaxy Digital Research, said in a note on Monday that BTC could drop to $56,000 in the coming weeks due to a lack of catalysts to reverse the trend.

Not everyone is as bullish on BTC as selected analysts will soon assume. Bitwise Chief Investment Officer Matt Hugan said in an article on X that crypto markets “could come roaring back sooner rather than later.”

However, as a historical pattern, BTC's recovery may take time. BTC closed below the 100-week simple moving average (SMA) in a post by crypto fan Brett on X. Following a break below the 100-week SMA in the past, BTC stayed below the level for 182 to 532 days. The only outlier was the 2020 Covid-19 blip when BTC rose above the 100-week SMA in 35 days.

Could BTC and the major altcoins start a rally or will support levels give way? Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Buyers are struggling to hold BTC above the crucial $74,508 support, indicating bearish selling.

If the price of Bitcoin continues lower and slips below $72,945, it will signal the resumption of the downtrend. The BTC/USDT pair may fall to a strong support at $60,000.

The relative strength indicator (RSI) is in the oversold zone, which suggests that the sell may be oversold in the near term. That adds to the possibility of a support rally, which could quickly rise above the $79,500 resistance. If that's the case, the pair could collect around the $84,000 breakeven level.

Ether price prediction

Ether (ETH) took support at the crucial $2,111 level on Tuesday, but a shallow breakout suggests that the bulls are not buying aggressively.

The sellers are trying to continue the downtrend by pulling Ether price below the $2,111 support. If they manage to do so, the ETH/USDT pair could drop to $1,750.

The RSI in the oversold zone suggests a potential rally in the near term. The pair may rise to the 38.2% Fibonacci retracement level at $2,467 and then to the 20-day moving average (EMA) ($2,712). A close above the 20-day EMA suggests that the bulls are back in the game.

BNB price prediction

BNB (BNB) continues to trade below the $790 level, increasing the risk of a drop below $730.

If the price of BNB closes below $730, it indicates that the bears have turned the $790 level into resistance. The BNB/USDT pair may drop to $700 and then to $645.

Time is running out for the Bulls. They should defend the $730 level and quickly push the price above the $790 resistance. The pair could climb to the 20-day EMA ($839).

XRP price prediction

The failure of the bulls XRP (XRP) to maintain above the $1.61 level, the bears sell on small relief rallies.

Sellers try to push XRP price below the support line of the descending channel pattern. If you can pull through, the XRP/USDT pair may retest the $1.25 low on October 10, 2025.

On the downside, the bulls need to drive the price above the 20-day EMA ($1.79) to suggest that the pair may remain in the channel for some time. A close above the low line indicates a possible short-term trend reversal.

Solana price forecast

The fall of the bulls pushes Solana (SOL) above the $107 renewed sell-off, pulling the price below the $95 critical support.

If Solana's price closes below $95, it indicates the start of the next downtrend leg. The SOL/USDT pair may drop to $79.

Contrary to this assumption, if the price breaks above $107, it suggests that a break below $95 could be a bear trap. The pair may rise to the 20-day EMA ($117), where the bears are expected to enter. Buyers should clear the moving averages to signal that the bear momentum is weakening.

Dogecoin price prediction

Dogecoin (DOGE) is trying to start a recovery, but the shallow retracement shows that the bears have continued the pressure.

If the price of Dogecoin declines from the current level or the 20-day EMA ($0.12) and breaks below $0.10, it indicates the resumption of the downtrend. The DOGE/USDT pair may nose dive to the $0.08 level.

Contrary to this assumption, if the price reverses and breaks above the moving averages, it will indicate that the market has rejected the break below the $0.12 level. The pair may increase to $0.16.

Cardano price prediction

Cardano (ADA) is trying to break out of the support line of the descending channel pattern, but the support rally lacks strength.

If the price of Cardano falls below the current level or the 20-day EMA ($0.33), it suggests that the bears will hold the advantage. Sellers will try to sink the ADA/USDT pair below the support line and extend the decline to $0.20.

Contrary to this assumption, if buyers push the price above the 20-day EMA, the pair may reach the lower line. A close above the lower line opens the door for a rally to the $0.50 breakout level.

Related: Bitcoin's $68K Trend Line Appears as Potential BTC Price Floor: Traders

Bitcoin Cash price prediction

Bitcoin Cash (BCH)'s recovery is facing resistance at the 50% retracement level near $535, indicating that bears are highly active.

Sellers will try to pull the price of Bitcoin Cash below the $497 level, which is an important level to watch. If the level gives way, the BCH/USDT pair may drop to $467 and then to $443.

Conversely, if buyers drive the price above $544, the pair may jump to the 20-day EMA ($562). Sellers are expected to mount a strong resistance at the 20-day EMA, but if the bulls lose, the pair may rise to $604.

High Liquidity Price Prediction

Hyperliquid (HYPE) pierced the $35.50 resistance on Tuesday, but the long wick on the candlestick indicates oversold.

If buyers do not give the bears much ground, the chances of a break above the $35.50 level will increase. If that happens, the HYPE/USDT pair could rise to $44. Such action indicates that the adjustment phase is over.

Instead, if the price of Hyperliquid declines significantly from current levels and breaks below the 20-day EMA ($28.79), it suggests that the pair may continue to oscillate between $35.50 and $20.82 for some time.

Monero price prediction

Monero (XMR) is trying to take support at the $360 level, but the rally may face a selloff at $412 and then the 20-day EMA ($461).

If the price of Monero falls below the current level or above resistance, it indicates that the sentiment is negative and traders will sell in rallies. That puts us at risk of breaking the $360 level. The next support is at $320.

Conversely, if buyers push the price above the 20-day EMA, the XMR/USDT pair could rise to $500. Buyers are expected to expect significant selling at the $500 level. Generally, after a major decline, the price tends to consolidate for a period of time before making the next directional move.