Key points:

• For the first time in seven years, Bitcoin is at risk of ending October in the red.

• Several altcoins fell to key support levels, indicating selling gains.

Bitcoin (BTC) bulls are trying to keep the price above $110,000, but bears continue to apply pressure. This increases the risk of BTC seeing its first red October close in seven years. After October’s disastrous results, all eyes are on November, which, according to CoinGlass data, is characterized by an average rate of return of 46.02%.

Several analysts are bearish on BTC, signaling a potential cycle top based on a four-year halving cycle. However, several others, such as BitMEX’s Arthur Hayes, believe that BTC’s four-year cycle is over.

It is arduous to predict with certainty whether the four-year cycle will come to an end or not, but the net outflow of $959.1 million from spot BTC exchange-traded funds over the past two days, according to data from Farside Investors, indicates that institutional investors remain cautious in the near term.

What are the key support levels to watch out for in BTC and major altcoins? To find out, let’s analyze the charts of the 10 most popular cryptocurrencies.

Bitcoin price prediction

On Thursday, BTC bounced off the lower end of the range near $107,000, indicating that bulls are aggressively defending this level.

The augment in aid is expected to be met with sales at a 20-day exponential moving average ($111,557). If the price drops sharply from the 20-day EMA, it increases the likelihood of a break below $107,000. If this happens, the BTC/USDT pair will complete a double top formation and could dive to $100,000.

Conversely, a breakout and close above the 20-day EMA suggests that Bitcoin’s price may remain in the $107,000 to $126,199 range for some time.

Ether price prediction

Ether (ETH) bounced off the descending channel support line on Thursday, signaling buying at lower levels.

The recovery may be met with selling at moving averages. If this happens, the bears will once again try to sink the Ether price below the support line. If they succeed, the ETH/USDT pair could drop to $3,350.

Buyers will need to push the price above the moving averages to keep the pair in the channel. The next stage of the up move will likely start with a breakout and end above the resistance line.

BNB Price Forecast

BNB (BNB) is witnessing a fierce battle between bulls and bears at the 50-day elementary moving average ($1,084).

If the price drops from the 20-day EMA ($1,113) and closes below the 50-day SMA, it signals the beginning of a deeper correction. The BNB/USDT pair may fall to $1,021 and then to $932.

On the contrary, if the price closes above the 20-day EMA, it suggests that the bulls are trying to make a comeback. The BNB price could then rise to the 38.2% Fibonacci retracement level of $1,156, which could attract sellers. A close above $1,156 paves the way for an upside to the 61.8% retracement level of $1,239.

XRP price forecast

XRP (XRP) fell below the 20-day EMA ($2.54) on Thursday, signaling that bears are trying to maintain their advantage.

Sellers will look to strengthen their position by pushing the XRP price to the $2.32 to $2.19 support zone. Buyers are expected to vigorously defend the support zone as a close below could intensify selling. The XRP/USDT pair may then drop to $1.90.

The bulls’ time is running out. They will need to push the price above the moving averages quickly to gain strength. A potential trend change will be signaled when a close above the downtrend line occurs.

Solana price forecast

Solana (SOL) is trading within a symmetrical triangle, which indicates that there is no decision regarding the next directional move.

If the price breaks below the uptrend line, the SOL/USDT pair could drop to solid support at $155. Buyers are expected to defend the $155 level fiercely as a break below that level could send the pair down to $140.

If the price rebounds from the uptrend line and breaks above the 20-day EMA ($194), it suggests that the pair may remain inside the triangle for some time to come. Buyers will be back in the driver’s seat once they push Solana’s price above the resistance line.

Dogecoin price forecast

Buyers are trying to hold Dogecoin (DOGE) above the $0.17 support, but the shallow bounce suggests bears continue to apply pressure.

If the $0.17 level breaks, the DOGE/USDT pair could fall to the $0.14 support. Buyers will try to keep Dogecoin’s price within this range by defending the $0.14 level, but if they fail to do so, the pair could fall to the $0.10 level.

The first sign of strength will be a breakout and close above the upper resistance at $0.21. The pair could then climb to the 50-day SMA ($0.22) and later attempt a rally to the stiff upper resistance at $0.29.

Cardano Price Forecast

Cardano (ADA) continued its decline and broke below the $0.59 support on Thursday, signaling that the bears remain in control.

If the price remains below the $0.59 level, the ADA/USDT pair could drop to solid support at $0.50. Buyers are expected to defend the $0.50 level fiercely as a drop below that level could trigger a recent downtrend.

On the positive side, the breakout and close above the 20-day EMA ($0.66) suggests that the bears are losing control. Cardano price may then climb to the $0.75 breakdown level and then to the downtrend line.

Related: The price of XRP continues to fall despite the upcoming Ripple Swell event

Hyperfluid price prediction

Sellers again thwarted bulls’ attempts on Thursday to push the price of Hyperliquid (HYPE) above broad resistance at $51.50. This brought the price down to the 20-day EMA ($43.10).

Buyers are trying to defend the 20-day EMA, but bears maintain selling pressure. If the price falls below the 20-day EMA, the HYPE/USDT pair could move down to the neck line and then to USD 35.50.

This negative opinion will be invalidated in the near future if the price of Hyperliquid increases and exceeds the level of USD 51.50. The pair could then surge to an all-time high of $59.41.

Chain link price prediction

On Wednesday, buyers tried to push Chainlink (LINK) above the 20-day EMA ($18.24), but the bears persisted.

Falling moving averages and the relative strength index in negative territory suggest that the bears remain in control. Chainlink price may then fall to the support at $15.43, where bulls are expected to move in.

Buyers will need to push and keep the price above the 20-day EMA to signal strength. The LINK/USDT pair could then climb to the resistance line, which is a critical level to watch out for.

Bitcoin Cash Price Forecast

Bitcoin Cash (BCH) has been stuck between the 20-day EMA ($530) and the resistance line for several days.

Bulls will need to push and hold the Bitcoin Cash price above the resistance line to signal a potential trend change. The BCH/USDT pair may then rise to $615 and later to $651.

Instead, if the price drops and breaks below the 20-day EMA, it suggests that the pair may remain inside a descending wedge formation for a few more days. The pair could drop to $500 and then to $475.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.