Key Points:

• Bitcoin’s failure to rise above $118,000 may have attracted short-term investors to book profits, resulting in a decline to $107,000.

• Several major altcoins have pushed back above their general resistance levels, signaling that bears are still selling on the upside.

Bitcoin (BTC) bulls are trying to keep the price above $111,000, but bears continue to exert selling pressure. Glassnode wrote in its latest Weekly Market Impulse report that BTC’s recent recovery was not supported by increased participation, signaling a “potential consolidation phase.”

A somewhat cautious stance was taken by cryptocurrency market research firm 10x Research, which stated that the current BTC bull cycle may not be extended beyond the customary four-year cycle because BTC has become too high-priced for regular retail purchases. Based on its research methodology, the company projected a cycle peak of $125,000.

BTC remains in a wide range, but a tiny positive for the bulls is that investors continue to buy BTC spot exchange-traded funds. According to Farside Investors dataover the last four days, BTC ETFs have seen net inflows of $462.6 million.

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

Bitcoin price prediction

BTC’s failure to stay above the 50-day basic moving average ($114,278) attracted sellers, dragging the price below the 20-day exponential moving average ($112,347).

If the price closes below the 20-day EMA, bears will try to drag the BTC/USDT pair to the critical support at $107,000. Buyers are expected to defend the $107,000 level with all their might as a break below this level will end the double top pattern. The price of Bitcoin may then drop to $100,000.

The $118,000 level is a key resistance worth watching upside. A break and close above this value could take the pair to a record high of $126,199.

Ether price prediction

On Monday, Ether (ETH) fell from its 50-day SMA ($4,220), indicating that bears are lively at higher levels.

Sellers are trying to pull the price up to the descending triangle support line, which is a critical level to watch out for. A break and close below the support line could push Ether price down to $3,350.

Bulls will need to push the price above the 50-day SMA to signal strength. The ETH/USDT pair may then climb to a resistance line where sellers will likely pose a significant challenge. Buyers will need to break through the barrier at the resistance line to signal the beginning of the next stage of an upward move.

BNB Price Forecast

BNB ( BNB ) rejected the 38.2% Fibonacci retracement level of $1,156 on Monday, but a tiny positive is that bulls defended the 50-day SMA ($1,076) on Tuesday.

The flat 20-day EMA ($1,119) and RSI near the middle do not give a clear advantage to either bulls or bears. If the price drops and breaks below the 50-day SMA, it signals the beginning of a deeper correction to $1,021 and then to $932. This move suggests that the BNB/USDT pair may have peaked in the near future.

Conversely, a break and close above $1,156 indicates robust buying at lower levels. The BNB price may then rise to the 61.8% retracement level of $1,239.

XRP price forecast

XRP (XRP) has been trading between the $2.69 split level and the 20-day EMA ($2.56) for the past few days.

After trading a narrow range, a widening of the range is likely to occur. If the price drops and breaks below the 20-day EMA, it suggests that the bears have defeated the bulls. The price of XRP may then drop to $2.20.

On the contrary, a breakout and close above $2.69 could push the XRP/USDT pair towards the downtrend line. Sellers are expected to vigorously defend the downtrend line as a break above it opens the door to a rally to $3.20 and then $3.38.

Solana price forecast

Buyers pushed Solana (SOL) above the 20-day EMA ($196) on Sunday, but are struggling to sustain higher levels.

A flat 20-day EMA and RSI near the middle signal a balance between supply and demand. If the price closes above the 20-day EMA, the SOL/USDT pair may rise to the resistance line. Buyers will need to push the price above the resistance line to gain strength.

Alternatively, if the price declines and falls below $190, it suggests that the bears are in control. The pair could then move down to $177 and eventually reach the channel support lines.

Dogecoin price forecast

Dogecoin (DOGE) moved away from broad resistance at $0.21 on Monday, signaling that bears are aggressively defending that level.

The bears will try to exploit their advantage by dragging the Dogecoin price below the $0.17 level. If they succeed, the DOGE/USDT pair could fall to the critical support at $0.14. Buyers are expected to defend the $0.14 level with all their might as a break below that level would open the door to a retest of the $0.10 level.

The first sign of strength will be a close above $0.21. If this happens, the pair could rise to the 50-day SMA ($0.23) and later to $0.27.

Cardano Price Forecast

Cardano (ADA) rejected the 20-day EMA ($0.68) on Monday, indicating that sentiment remains negative.

The bears will try to push the Cardano price below the $0.59 support. If they succeed, the ADA/USDT pair could fall towards the vital support at $0.50. Buyers are expected to fiercely defend the $0.50 level.

On the positive side, there is a breakout and close above the 20-day EMA, which signals that the bulls are attempting a rebound. The pair may then rise to the $0.75 breakdown level and then to the downtrend line.

Related: Bitcoin drops to 113,000 dollars as S&P 500 hits recent all-time high following Fed interest rate move

Hyperfluid price prediction

Buyers held Hyperliquid (HYPE) above the 50-day SMA ($45.95), indicating strength.

Buyers will try to strengthen their position by pushing the Hyperliquid price above the general resistance at $51.50. If they are successful, the HYPE/USDT pair could retest the all-time high of $59.41.

The sellers probably have other plans. They will try to defend the $51.50 level and bring the price below the 20-day EMA ($42.64). If they are successful, the pair could fall towards the key support at $35.50.

Chain link price prediction

Chainlink (LINK) rejected from the 20-day EMA ($18.52), indicating bears are selling on a rally.

Bears will try to drag Chainlink price to $16.71 and then to the robust support at $15.43 where buyers are expected to step in.

Conversely, if the price rises from its current level and breaks above the 20-day EMA, it suggests that selling pressure is decreasing. The LINK/USDT pair could then rise to the resistance line. Buyers will need to push and hold the price above the resistance line to signal that the correction may be over.

Bitcoin Cash Price Forecast

Bitcoin Cash (BCH) has reached the resistance line in a falling wedge formation, where bears pose a sedate challenge.

The rising 20-day EMA ($527) and RSI in positive territory indicate that the path of least resistance is up. A close above the resistance line opens the door to an boost to $615 and then $651.

Sellers will need to quickly push the price of Bitcoin Cash back below the 20-day EMA to regain control. The BCH/USDT pair could then fall towards the robust support at $450.

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.