Urgent Crypto Price Predictions 10/17: Bitcoin, Ethereum Face Downward Pressure

The cryptocurrency market faces significant pressure. Many investors wonder about the next moves for major digital assets. Today’s Bitcoin price prediction and altcoin analysis reveals a challenging environment. The optimism of ‘Uptober’ appears to be fading. Bitcoin, Ethereum, and several altcoins continue their decline. Will upcoming US economic events provide a much-needed boost? We examine the charts to uncover critical support levels and potential reversals. This comprehensive crypto market analysis offers crucial insights for traders and investors.

Understanding Current Crypto Market Trends

Bitcoin currently finds buying support below the $107,000 level. However, analysts suggest any relief rally might face immediate selling pressure. Several altcoins have reached strong support zones. Yet, a robust rebound remains absent, indicating persistent downward momentum. Cryptocurrency price movements reflect broader market sentiment. Bears are actively trying to keep Bitcoin below its crucial $107,000 support. This sustained pressure points to negative sentiment. Concerns about credit issues in US regional banks also deter dip buyers.

Bitwise analysts offer a contrasting view. Their weekly crypto market compass report noted massive liquidations on October 10. This event, they believe, signals selling exhaustion. It could limit further downside potential. Furthermore, their in-house intraday Cryptoasset Sentiment Index has fallen to early August 2024 levels. This decline often indicates a ‘contrarian buying opportunity.’ Conversely, Glassnode takes a more cautious stance. Their recent report suggests markets are in a ‘reset phase.’ Fresh demand is necessary to confirm any recovery. They highlight a drop of about 0.3 million BTC in Long-Term Holder supply since July 2025. This indicates profit-taking by mature investors. Glassnode anticipates the market will enter a ‘consolidation phase.’

Crypto market data daily view. Source: Coin360

Bitcoin Price Prediction: Key Levels to Watch

Bitcoin (BTC) continued its downward trajectory, plummeting below the $107,000 support on Friday. Nevertheless, the long tail on the candlestick indicates buying interest at lower price points. A sustained close below $107,000 would complete a bearish double-top pattern. If this occurs, the BTC/USDT pair could slide toward the psychological support at $100,000. Buyers are expected to defend this $100,000 level vigorously. A break below it could trigger a collapse to the pattern target of $89,526. This bearish outlook would invalidate if Bitcoin’s price turns upwards and breaches the moving averages. Such a move would suggest the break below $107,000 was merely a bear trap.

BTC/USDT daily chart. Source: Crypto News Insights/TradingView

Ethereum Price Prediction: Navigating the Descending Channel

Ether (ETH) is currently experiencing a fierce struggle between bulls and bears. This battle unfolds at the support line of a descending channel pattern. Any recovery attempt will likely face strong selling pressure at the 20-day Exponential Moving Average (EMA) of $4,159. Should the price sharply decline from the 20-day EMA, it increases the probability of a break below the channel’s support line. If this scenario materializes, the ETH/USDT pair could plunge to $3,350. To avert this downside, buyers must push the Ethereum price prediction above the moving averages. This action would signal that the pair might remain within the descending channel for an extended period. A new uptrend could commence only after buyers decisively thrust the price above the resistance line.

ETH/USDT daily chart. Source: Crypto News Insights/TradingView

Altcoin Price Prediction: BNB, XRP, and Solana Insights

BNB (BNB) closed below its 20-day EMA ($1,144) on Thursday. It extended its decline to the 50-day Simple Moving Average (SMA) ($1,017) on Friday. Buyers will likely defend the 50-day SMA vigorously. Failure to do so could accelerate selling. The BNB/USDT pair might then retest the October 10 panic low of $860. Such a move suggests BNB may have topped out in the near term. Any rebound from the 50-day SMA will likely face significant selling at the 20-day EMA. Buyers must overcome this barrier to signal the end of the corrective phase.

BNB/USDT daily chart. Source: Crypto News Insights/TradingView

XRP and Solana Analysis

• XRP (XRP): Sellers pulled XRP below the $2.30 support, but bulls are attempting to reclaim this level. If the price rises, bears will try to halt recovery at the 20-day EMA ($2.63). A sharp turn down from this level signals negative sentiment, increasing the likelihood of a drop below $2.30 to $2. Conversely, if buyers push XRP/USDT above the 20-day EMA, a relief rally could extend to the downtrend line, potentially reaching $3.38.

  

  XRP/USDT daily chart. Source: Crypto News Insights/TradingView

• Solana (SOL): Solana has been falling within a descending channel, indicating consistent lower highs and lower lows. Bears are pushing the price toward the support line, where buyers are expected to intervene. A bounce from this line will likely meet selling pressure at the 20-day EMA ($205). If the price sharply declines from the 20-day EMA, bears will try to push SOL/USDT below the support line, potentially leading to a dive to $155. Buyers need to push the price above the 20-day EMA to suggest it might stay within the channel longer. A new uptrend would begin after buyers drive the price above the resistance line.

  

  SOL/USDT daily chart. Source: Crypto News Insights/TradingView

DOGE, ADA, and HYPE: Further Altcoin Challenges

Dogecoin (DOGE) failed to sustain above $0.21, which renewed selling pressure. This pulled the price near the strong support level at $0.18. The downsloping 20-day EMA ($0.22) and an RSI in negative territory suggest a continued downward path. If the price closes below $0.18, the DOGE/USDT pair could slide to $0.16 and potentially $0.14. Buyers must swiftly push the price above the 20-day EMA to signal strength. Dogecoin could then climb to the 50-day SMA ($0.23) and later challenge the stiff overhead resistance at $0.29.

DOGE/USDT daily chart. Source: Crypto News Insights/TradingView

Cardano and Hyperliquid Outlook

• Cardano (ADA): Cardano fell below its immediate support at $0.61. This indicates bears maintain their selling pressure. If the price closes below $0.61, the ADA/USDT pair could extend its decline to the solid support at $0.50. Buyers are expected to fiercely defend this $0.50 support. A break below it increases the risk of a fall toward $0.30. To prevent this downside, bulls must push the altcoin price prediction for Cardano above the 20-day EMA ($0.74). The pair could then rally to the downtrend line, where sellers will likely emerge. Buyers need to pierce the downtrend line to signal a new upward move toward $1.02.

  

  ADA/USDT daily chart. Source: Crypto News Insights/TradingView

• Hyperliquid (HYPE): Hyperliquid broke below the $35.50 level on Friday. However, the long tail on its candlestick indicates buying interest at lower levels. If the price turns up from its current position, it will likely encounter selling at the neckline and then at the 20-day EMA ($42.25). Should the price decline from this overhead resistance zone, bears will again attempt to pull the HYPE/USDT pair below $35.50. Success in this effort could see Hyperliquid descend to $30.50. Conversely, a break and close above the 20-day EMA would suggest reduced selling pressure. The pair might then ascend to the 50-day SMA ($47.15) and subsequently to $52.

  

  HYPE/USDT daily chart. Source: Crypto News Insights/TradingView

Chainlink and Stellar: Analyzing Further Downside Risks

Chainlink (LINK) fell below the support line of its descending channel pattern. This action signals increased selling pressure in the market. Bulls are currently attempting to halt the decline at the $15.43 support level. However, they will likely face selling pressure on any minor price increase. If the Chainlink price turns down and breaks below $15.43, the LINK/USDT pair could fall to $12. Bulls must quickly push the Chainlink price above the 20-day EMA ($19.93). This would suggest that the bearish momentum has weakened. Buyers will regain control after propelling the pair above the resistance line.

LINK/USDT daily chart. Source: Crypto News Insights/TradingView

Stellar Lumens (XLM) Analysis

Stellar (XLM) continued its downward movement, slipping below the $0.31 support level. This clearly indicates that bears remain in command of the market. Sellers will attempt to solidify their position by pushing the Stellar price toward $0.25 and then potentially to $0.22. Buyers face a significant challenge. They must push and maintain the price above the moving averages. This action would suggest a reduction in selling pressure. The XLM/USDT pair could then rise to the downtrend line. Sellers will likely try to halt any recovery at this downtrend line. However, if bulls prevail, the pair might jump toward $0.47.

XLM/USDT daily chart. Source: Crypto News Insights/TradingView

This article offers a detailed crypto market analysis based on current chart patterns. It does not provide investment advice or recommendations. Every investment and trading decision involves inherent risk. Readers should conduct thorough research before making any financial choices.