Crucial Crypto Price Predictions: Unlocking BTC, ETH, and Altcoin Forecasts for 9/24

Investors and traders often seek clarity in the volatile digital asset space. This daily report provides crucial Crypto Price Predictions for September 24th. We delve into the movements of major cryptocurrencies. Our analysis covers Bitcoin (BTC), Ethereum (ETH), XRP, BNB, Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Hyperliquid (HYPE), Chainlink (LINK), and Avalanche (AVAX). We aim to offer insights into potential price actions and key market indicators.

Bitcoin (BTC) Analysis: Bulls Battle $117,500 Resistance

Bitcoin bulls made a strong comeback on Wednesday. However, they are likely to face significant selling pressure. This resistance point sits near $117,500. Many observers wonder if altcoins can capitalize on Bitcoin’s potential range-bound movement. Bitcoin (BTC) rose above $113,900 earlier in the week. This move indicates that buyers continue to acquire on dips. Michael Saylor, MicroStrategy executive chairman, recently shared his views on CNBC. He suggested that consistent buying by large BTC exchange-traded funds (ETFs) could reignite a rally. Increased corporate adoption may also contribute to this by year-end.

Furthermore, Glassnode’s weekly report supports a potential new all-time high for BTC. Yet, it also notes similarities with past cycles. These historical patterns suggest the current cycle might be in its late phase. Specifically, all-time highs occurred 2-3 months beyond the current point, measured from the cycle low. Despite this optimism, not all market participants are bullish. Julio Moreno, head of research at CryptoQuant, highlighted whale activity on X. Whales have net sold 147,000 BTC since August 21st. This action has caused total whale holdings to decline at the fastest monthly rate of the cycle. Therefore, the question remains: Can BTC overcome this selling pressure and reach $117,500? Will altcoins follow Bitcoin higher?

Key Bitcoin Levels to Watch:

• Resistance: Moving averages, then $117,500.
• Support: $107,000.
• Bearish Scenario: A break below $107,000 could trigger a double-top pattern. This may lead to declines toward $100,000 and potentially $89,526.
• Bullish Scenario: A break above moving averages and $117,500 could push BTC to $120,000.

Ethereum (ETH) Forecast: Battle for $4,060 Support

Buyers are actively working to maintain Ether (ETH) above the crucial $4,060 level. However, relief rallies are expected to encounter heavy selling. If the price turns down from the 20-day Exponential Moving Average (EMA) at $4,393, a break below $4,060 becomes more likely. Should this occur, the ETH/USDT pair could fall to $3,745. Subsequently, it might reach a pattern target of $3,426. Conversely, if the price turns up and surpasses the 20-day EMA, it suggests a potential range formation. The Ether price could then trade between $4,060 and $4,957 for some time.

The Altcoin Market: Opportunities and Challenges

The broader Altcoin Market presents a mixed picture. Some assets show potential for upward movement, while others face significant resistance. We examine several prominent altcoins, highlighting their individual technical setups. Each asset navigates unique challenges and opportunities within the current market environment. Understanding these specific dynamics is key for informed decision-making.

XRP Price Analysis: Descending Triangle Pattern

XRP has been trading within a descending triangle pattern. This formation typically acts as a topping signal. Bears need to push the price below $2.69 to complete this bearish setup. Such a move could accelerate selling, potentially sending the XRP/USDT pair towards $2.20. Conversely, buyers must swiftly drive XRP above the downtrend line. This action would invalidate the bearish pattern, paving the way for a rally to $3.40.

BNB Price Analysis: Resuming the Uptrend?

BNB bounced off its 20-day EMA ($957) recently. This indicates positive sentiment and consistent buying on dips. Bulls will now attempt to push the price above the $1,083 resistance. Success here could initiate the next leg of the uptrend, targeting $1,187. However, if the price turns down from current levels or overhead resistance and breaks below the 20-day EMA, bears may be selling rallies. This increases the risk of a drop to the 50-day Simple Moving Average (SMA) at $882.

Solana (SOL) Price Analysis: Bulls Defend $206

Solana (SOL) slipped below its uptrend line on Wednesday. Yet, bulls are trying to halt the pullback at the 50-day SMA ($206). Sellers are unlikely to relent. They will attempt to pull the price below this key SMA. If successful, the SOL/USDT pair could decline to $185, then potentially $175. This suggests Solana’s price might remain within the large $110 to $260 range for a while. Alternatively, a break and close above the 20-day EMA would signal strong buying. Bulls would then aim to push the price to $260, where bears are expected to mount a strong defense.

Deep Dive into Technical Analysis Crypto: DOGE, ADA, HYPE, LINK, AVAX

This section offers a detailed Technical Analysis Crypto breakdown for Dogecoin, Cardano, Hyperliquid, Chainlink, and Avalanche. We focus on critical support, resistance, and potential trend shifts for each asset.

Dogecoin (DOGE) Price Analysis: Holding $0.23 Support

Dogecoin (DOGE) currently finds support at its 50-day SMA ($0.23). This indicates strong defense from bulls at this level. The relief rally, however, is likely to face selling pressure at the 20-day EMA ($0.25). If the price sharply declines from the 20-day EMA, a drop to $0.21 becomes more probable. This suggests the DOGE/USDT pair may stay within the $0.14 to $0.29 range longer. Conversely, a break above the 20-day EMA signals demand at lower levels. Bulls would then try to push Dogecoin to $0.29. This level is crucial for bears to defend. A break above $0.29 could clear the path for rallies to $0.35 and then $0.44.

Cardano (ADA) Price Analysis: Bulls Defend $0.78

Buyers are actively defending the $0.78 support level in Cardano (ADA). Nevertheless, relief rallies are likely to face selling. If the price turns down from the 20-day EMA ($0.86), bears will attempt to sink the ADA/USDT pair below $0.78. Success could lead to a tumble toward $0.68. Buyers, however, have other plans. They will try to push the price back into the triangle, trapping aggressive bears. An upward move is expected to gain momentum above the resistance line. This opens the gates for a rally to $1.02.

Hyperliquid (HYPE) Price Analysis: Bearish Outlook?

Hyperliquid (HYPE) plunged below its uptrend line recently. This suggests bulls are rushing to exit their positions. The 20-day EMA ($50.67) has started to turn down. Moreover, the Relative Strength Index (RSI) is near the 41 level. These indicators suggest the HYPE/USDT pair may have topped out in the near term. Sellers will attempt to halt any recovery attempts at the 20-day EMA. If they succeed, Hyperliquid could turn down, dropping to $40 and then to $35. This negative view would be invalidated if bulls push and sustain the pair above the 20-day EMA. The pair might then retest its all-time high at $59.

Chainlink (LINK) Price Analysis: Bearish Crossover

Buyers have successfully defended the uptrend line in Chainlink (LINK). Yet, they struggle to initiate a strong bounce. The moving averages have completed a bearish crossover. Additionally, the RSI is in the negative zone. These factors signal an advantage to bears. Any recovery is expected to face selling at the 20-day EMA ($23.11). If the price turns down from the 20-day EMA and breaks below the uptrend line, bears are back in control. The LINK/USDT pair may then descend to $18. To gain the upper hand, buyers must drive Chainlink above the downtrend line. The pair may then climb toward the $27 overhead resistance.

Avalanche (AVAX) Price Analysis: Bullish Momentum

Avalanche (AVAX) turned up sharply from the 20-day EMA ($30.71) on Monday. However, bulls could not clear the overhead hurdle at $36.17 on Tuesday. A minor positive for bulls is their ability to hold ground. The upsloping 20-day EMA and the RSI in overbought territory indicate an upward path of least resistance. If buyers push and maintain the price above $36.17, the AVAX/USDT pair could surge. It might reach the pattern target of $39.49 and then $45. The first sign of weakness would be a break and close below the 20-day EMA. This suggests profit booking by short-term traders. AVAX price could then slump to $27.38.

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