Bitcoin Price Prediction: Crucial Levels for BTC, ETH, and Top Altcoins

The cryptocurrency market currently faces renewed uncertainty. Bitcoin (BTC) recently failed to recapture levels above $118,000. This prompted profit-taking by swing traders. Bears also opened fresh short positions. Consequently, the market saw a drop towards $107,000. Investors now keenly watch today’s FOMC presser. Many hope it will kickstart a trend reversal for both BTC and major altcoins.

This report delivers crucial crypto market insights. We analyze price predictions for October 29th. Our focus includes Bitcoin, Ethereum, BNB, XRP, SOL, DOGE, ADA, HYPE, LINK, and BCH.

Bitcoin’s Market Overview: Navigating Uncertainty

Bitcoin’s inability to surpass $118,000 triggered significant profit-booking. This came from short-term traders. The subsequent price drop landed near $107,000. Furthermore, several prominent altcoins turned down from their overhead resistance levels. This indicates bears remain active sellers during rallies. Bitcoin bulls are currently striving to maintain the price above $111,000. However, bears continue to exert selling pressure.

Glassnode’s latest Weekly Market Impulse report offers a cautious view. It suggests BTC’s recent recovery lacked strong participation. This signals a “potential consolidation phase.” Moreover, 10x Research, a crypto market intelligence firm, provided another perspective. They stated BTC’s current bull market cycle might not extend beyond the traditional four-year cycle. This is because BTC has become too expensive for sustained retail purchases. The company projects a cycle top of $125,000. This is based on their research methodology.

Despite these cautious outlooks, a minor positive emerges. Investors continue to purchase spot BTC exchange-traded funds (ETFs). Farside Investors’ data confirms this trend. BTC ETFs recorded net inflows of $462.6 million over the past four days. This demonstrates ongoing institutional interest.

Bitcoin Price Prediction: Key Levels to Watch

Bitcoin’s recent performance requires close attention. The price failed to stay above the 50-day simple moving average (SMA) at $114,278. This attracted sellers. They pulled the price below the 20-day exponential moving average (EMA) at $112,347.

[Image: BTC/USDT daily chart] Source: Crypto News Insights/TradingView

Key Bitcoin Price Levels:

• Support: If the price closes below the 20-day EMA, bears will likely target $107,000. Buyers are expected to defend this level vigorously. A break below $107,000 would complete a double-top pattern. This could then lead to a slump towards $100,000.
• Resistance: The $118,000 level represents a crucial resistance point. A decisive break and close above it could propel the BTC/USDT pair. It might reach the all-time high of $126,199.

This Bitcoin price prediction highlights the critical battleground between bulls and bears.

Ethereum Forecast: Analyzing ETH’s Market Movements

Ether (ETH) experienced a significant downturn. It turned down from the 50-day SMA ($4,220) on Monday. This clearly indicates active selling by bears at higher price levels.

[Image: ETH/USDT daily chart] Source: Crypto News Insights/TradingView

Key Ethereum Levels:

• Support: Sellers are currently attempting to push the price towards the support line. This forms part of a descending triangle pattern. This level is absolutely critical. A break and close below this support line could sink the Ether price to $3,350.
• Resistance: Bulls must push the price above the 50-day SMA to signal strength. The ETH/USDT pair could then climb towards its resistance line. Sellers will likely pose a strong challenge there. Buyers must overcome this barrier to signal the next upward move. This Ethereum forecast emphasizes the importance of these technical indicators.

Major Altcoins Under Scrutiny: BNB, XRP, and SOL

Beyond Bitcoin and Ethereum, several major altcoins show distinct patterns.

BNB Price Action

BNB (BNB) turned down from the 38.2% Fibonacci retracement level of $1,156 on Monday. However, bulls defended the 50-day SMA ($1,076) on Tuesday. This offers a minor positive sign.

[Image: BNB/USDT daily chart] Source: Crypto News Insights/TradingView

BNB Outlook:

• The 20-day EMA ($1,119) remains flat. The RSI sits near the midpoint. These indicators suggest no clear advantage for either bulls or bears.
• Bearish Scenario: If the price breaks below the 50-day SMA, it signals a deeper correction. This could lead to $1,021 and then $932. Such a move suggests the BNB/USDT pair may have topped out short-term.
• Bullish Scenario: Conversely, a break and close above $1,156 indicates strong buying. The BNB price might then surge to the 61.8% retracement level of $1,239.

XRP Price Prediction

XRP (XRP) has traded within a tight range. It moved between the breakdown level of $2.69 and the 20-day EMA ($2.56) recently.

[Image: XRP/USDT daily chart] Source: Crypto News Insights/TradingView

XRP Prospects:

• This tight range often precedes a range expansion.
• Bearish Case: A price turn down and break below the 20-day EMA suggests bears have gained control. The XRP price could then drop to $2.20.
• Bullish Case: A break and close above $2.69 could propel the XRP/USDT pair. It might reach the downtrend line. Sellers will likely defend this line vigorously. A break above it, however, opens the door for a rally. This could target $3.20 and then $3.38.

Solana Price Analysis

Buyers pushed Solana (SOL) above the 20-day EMA ($196) on Sunday. Yet, they struggle to maintain these higher levels.

[Image: SOL/USDT daily chart] Source: Crypto News Insights/TradingView

SOL Trajectory:

• The flat 20-day EMA and midpoint RSI indicate a balance between supply and demand.
• Upside Potential: If the price closes above the 20-day EMA, the SOL/USDT pair could rise. It might reach the resistance line. Buyers must push the price above this line to gain significant strength.
• Downside Risk: Alternatively, if the price turns down and breaks below $190, bears are in control. The pair could then descend to $177. Eventually, it might reach the channel’s support line. This altcoin price analysis for SOL shows a delicate balance.

Further Altcoin Price Analysis: DOGE, ADA, HYPE, LINK, and BCH

Our comprehensive altcoin price analysis continues with Dogecoin, Cardano, Hyperliquid, Chainlink, and Bitcoin Cash.

Dogecoin Price Prediction

Dogecoin (DOGE) turned down from the $0.21 overhead resistance on Monday. This signals aggressive defense by bears at that level.

[Image: DOGE/USDT daily chart] Source: Crypto News Insights/TradingView

DOGE Outlook:

• Bears will try to extend their advantage. They aim to pull the Dogecoin price below $0.17. Success here could see the DOGE/USDT pair decline to $0.14.
• Buyers are expected to fiercely defend the $0.14 level. A break below it would clear the path for a retest of $0.10.
• 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 Prediction

Cardano (ADA) turned down from the 20-day EMA ($0.68) on Monday. This indicates continued negative sentiment.

[Image: ADA/USDT daily chart] Source: Crypto News Insights/TradingView

ADA Trajectory:

• Bears will attempt to sink the Cardano price below the $0.59 support. If they can pull it off, the ADA/USDT pair could plunge towards $0.50.
• Buyers are expected to fiercely defend the $0.50 level.
• Conversely, a break and close above the 20-day EMA signals a bullish comeback. The pair could then rally to $0.75 and subsequently to the downtrend line.

Hyperliquid Price Prediction

Buyers have maintained Hyperliquid (HYPE) above the 50-day SMA ($45.95). This demonstrates underlying strength.

[Image: HYPE/USDT daily chart] Source: Crypto News Insights/TradingView

HYPE Prospects:

• Bulls will try to strengthen their position. They aim to push the Hyperliquid price above the $51.50 overhead resistance. Success could lead to a retest of the all-time high at $59.41.
• Sellers, however, have different plans. They will attempt to defend $51.50. They will also try to pull the price below the 20-day EMA ($42.64). If they succeed, the pair could plummet towards $35.50.

Chainlink Price Prediction

Chainlink (LINK) turned down from the 20-day EMA ($18.52). This shows bears are actively selling on rallies.

[Image: LINK/USDT daily chart] Source: Crypto News Insights/TradingView

LINK Outlook:

• Bears will attempt to pull the Chainlink price to $16.71. Then, they will target the strong support at $15.43, where buyers are expected to step in.
• In contrast, if the price turns up and breaks above the 20-day EMA, selling pressure might decrease. The LINK/USDT pair could then rally to the resistance line. Buyers must push and maintain the price above this line to signal the end of the correction.

Bitcoin Cash Price Prediction

Bitcoin Cash (BCH) has reached the resistance line of a falling wedge pattern. Bears are posing a strong challenge here.

[Image: BCH/USDT daily chart] Source: Crypto News Insights/TradingView

BCH Trajectory:

• The upsloping 20-day EMA ($527) and RSI in positive territory suggest an upward path.
• A close above the resistance line opens the doors for a rally. This could reach $615 and then $651.
• Sellers must swiftly pull the Bitcoin Cash price back below the 20-day EMA to regain control. The BCH/USDT pair could then fall towards the strong support at $450.

This article provides market analysis. It does not contain investment advice or recommendations. Every investment and trading move involves risk. Readers should conduct their own thorough research before making decisions.