Key points:
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Bitcoin is still stuck in a narrow range, which suggests that the breakout may be around the corner.
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The minutes of FOMC meetings and the Fed’s interest rate decision can set the tone for the next step in cryptocurrencies.
Bitcoin (BTC) Continue trading on a $120,000 resistor, which shows the Bulls are under pressure. Despite Bitcoin’s strong wicket, UP’s move could face seasonal headwinds. According to Axel Adler Jr., BTC has been recorded The average return in August was only 2.56% In the past 13 years.
However, recent uncertainty or the historical weakness of August has not prevented strategic purchases of more BTC. The company said Tuesday it acquired 21,021 BTC for an average price of $117,256, Increase its total holdings to 628,791 BTC.
As a merger of BTC, Ether (eth) and BNB (BNB) has become the basis. Glass Festival says in a post on X ETH’s permanent futures volume advantage BTC has been exceeded, marking the “maximum skew” of the record. The analysis platform added that “shifts confirm the meaningful rotation of speculative interest towards the altcoin sector”.
Can BTC break through its range? Will choosing altcoins continue with their bulls? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price forecast
BTC continues to trade in a close range of $115,000 to $120,000. The longer the price stays within a narrow range, the greater the price that will eventually break through.
The frontal 20-day simple moving average ($118,313) and the relative intensity index (RSI) in the positive region indicate that the path with the smallest resistance is upstream space. If buyers rise at a price of over $120,000, the momentum of the BTC/USDT pair could increase momentum and rise to a new all-time high of $123,218. Then, the two can go up to $135,000.
Instead, the break is below $115,000, which suggests that the Bears have overwhelmed the Bulls. This could reduce the price to $110,530. This is a big support for attention as the break below it drops to $100,000.
Ether price forecast
ETH is trying to maintain a breakout level of more than $3,745, suggesting that the Bulls are not in a hurry to book profits as they expect the other leg to be higher.
If the price rebounds by $3,745 in support, the ETH/USDT pair may reach overhead resistance at $4,094. Sellers are expected to present a strong challenge at $4,094, but if the Bulls prevail, the two could soar to $4,868.
Conversely, if the price is lowered and interrupted below $3,745, it indicates that the Bull has given up. This could pull the price to a 20-day SMA ($3,516), and buyers are expected to step in. If the price rebounds from the 20-day SMA at a 20-day strength, the Bulls will try to pierce the overhead resistance again.
XRP Price Forecast
xrp(XRP) witnessed a tough battle between buyers and sellers of 20 days of SMA ($3.16).
If the price slides to $3.05, the next stop may be $2.95. Buyers are expected to defend the $2.95 level as it has a lower break than it may start a deeper correction to $2.65.
Additionally, a strong rebound at the $2.95 level suggests stable demand at lower levels. The 20-day SMA can act as a drag on the way up, but if the Bulls overcome it, the XRP/USDT pair could climb to $3.33 and thereafter, to $3.66.
BNB price forecast
BNB has returned to the $794 breakout level, which is a crucial support to note.
If the price rebounds at $794, it indicates that the Bulls are trying to turn their levels to support. If this happens, the BNB/USDT pair may retest the all-time high of $861. With a break of more than $861, it can rebound the next up and down trend to $900.
Instead, rest and close the profit signal for short-term buyers below the $794 level. Two people can then immerse themselves in a 20-day SMA ($751), which will likely attract buyers. The seller will have to pull this pair of 20-day SMA underneath to gain a huge advantage.
Solana price forecast
Solana (sol) has returned to the 20-day SMA ($178), which is likely to be reliable support.
If the price rebounds from the 20-day SMA with 20-day strength, the Bulls will try to push the Sol/USDT pair toward overhead resistance of $209. The rest time is over $209 and the door can be opened to reach $240. The $220 resistance is smaller, but it may cross.
Instead, resting and closing the 20-day SMA can pull the price to a 50-day SMA ($160). This suggests that the couple may extend it across a wide range of $110 to $209 in a few days.
Dogecoin price forecast
Dogecoin(Doge) fell from $0.25 on Monday and fell to a 20-day SMA ($0.22) on Tuesday, indicating a sale at the rally.
The next support is $0.21. If the price drops $0.21 and exceeds the 20-day SMA, the Bulls will try to raise the Doge/USDT pair to $0.26 and then raise it to $0.29. The seller is expected to do what he can to defend the $0.29 level, as the close above may increase the couple to $0.35 and then to $0.44.
On the other hand, resting and closing below $0.21 can put this pair into a 50-day SMA ($0.19). This suggests that the couple may remain in the range of $0.14 to $0.29 for a period of time.
Cardano Price Forecast
cardano(Aida) Tuesday’s 20-day SMA ($0.79) slide, indicating that the Bears are trying to take charge.
Support is $0.76, but if horizontally decomposes, the ADA/USDT pair can expand the correction to $0.73, which then expands it to a 50-day SMA ($0.67). Such a fall suggests that the two may stay in the $0.50 to $0.86 range for a period of time.
The first sign of strength will be rest time and approach above the 20-day SMA. This indicates a lack of low levels of active sales. The Bulls will then try to push the pair higher with a resistance of $0.86.
Related: Risk price of $3? Why XRP is one of the worst performers this week
Super fluent price forecast
Super liquidity (HYPE) has stayed between the support line of the ascending channel and the 20-day SMA ($45.13).
The Bulls failed to push the price higher than 20 days of SMA, which increased the risk of rest below the support line. If this happens, the Hype/USDT pair can be corrected to $36 and then corrected at $32.
If the price goes up and is higher than the 20-day SMA, this negative view will be invalid in the short term. The couple can then climb to the overhead area of $48 to $49.87.
Excellent price forecast
star(XLM) lost 20-day SMA ($0.44) on Monday, and the Bears defended that level in Tuesday’s retest.
The seller will try to strengthen his position by raising the price to $0.40. If they manage to do this, the XLM/USDT pair could drop to a 50% Fibonacci retracement level of $0.37, then drop to a 61.8% retracement level of $0.34.
The buyer may have other plans. They will try to make a comeback by pushing the price higher by $0.46. If they can cancel it, the two may retest the $0.52 overhead resistance. The next ticket to $0.64 for the rally can start with a closing price above $0.52.
SUI price forecast
sui(Sui) More than $4.30 resistance on Sunday, but it turns out that it turned out to be a bull trap due to the sharp drop in prices.
The Bears tried to maintain prices below the 20-day SMA ($3.85). If they do, the SUI/USDT pair may drop to $3.51. Buyers are expected to defend the area between $3.51 and a 50-day SMA ($3.27).
If the price rises from $3.51 and exceeds the 20-day SMA, it means that the range is likely to be formed. Two people may swing for $3.51 to $4.30 over a period of time. Rest time exceeds $4.30 and a new uptrend may begin, reaching $5.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
