Key points:
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Bitcoin is trying to get close to $112,000 in support, but higher levels may attract Bears sales.
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Several deep callbacks from Altcoins suggest that the next match of the UP move may not happen in a hurry.
Bitcoin (BTC) The Bulls tried to keep the price above $115,000, but faced stiff resistance from the Bears. Arthur Hayes, chief investment officer of Maelstrom Fund, said in a comment on an article on X that slow credit markets and job creation may be Sink BTC to $100,000 and ether (eth) to $3,000.
The US spot BTC exchange-traded funds (ETFs) and ETH ETFS fund flows also show traders’ caution. Recorded Bitcoin ETF Net outflow of $812.25 million On Friday, the Ethereum ETF saw a $152.26 million outflow, ending a 20-day inflow record for each sequel data.
However, recent uncertainty has not prevented listed companies from buying more BTC and ETH. Japanese investment firm Metaplanet said on Monday Get 463 BTC at an average price About $115,895, increasing its holdings to 17,595 BTC.
On similar online Sharplink bought 30,755 ETH The average price is $3,530, increasing the company’s total holdings to 480,031 ETH.
Can BTC exceed its overhead resistance? Will that start to recover in altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Price Forecast
The S&P 500 index (SPX) rose to a new all-time high on Thursday but witnessed higher levels of profit bookings.
Sales continued Friday, bringing prices below the 20-day simple moving average (6,306). The Bulls are trying to get back to the driver’s seat by pushing the price above Monday’s 20-day SMA. If they succeed, the index may retest the all-time high of 6,427.
Conversely, if the price drops from the 20-day SMA, it means the rally is being sold to. The index can then drop to a 50-day SMA (6,139), which will likely attract buyers.
USD Index Price Forecast
The US dollar index (DXY) was a 50-day SMA (98.29) above July 28, but rejected an overhead resistance of 100.54 on Friday.
The Bulls are trying to block a pullback near the moving average, which shows that sales pressure is eased. If the price rises from the current level and breaks through 100.54, the recovery may reach the 102 level. Break and closure above 102 indicates that the short-term bottom has been in place.
The seller will have to raise the price below the moving average to maintain the advantage. If they do, the index may drop to 97.10.
Bitcoin price forecast
On Friday, BTC fell below the neckline of the reverse head and shoulder mode, but gained support in a 50-day SMA ($112,262).
The 20-day SMA ($117,237) has begun to reject, with the RSI just below the midpoint, indicating that the Bears are trying to make a comeback. Expect to face sales in the area between the neckline and the 20-day SMA.
Related: Bought a $112K dip? 5 logos of Bitcoin bull running is coming back soon
If the price drops from the resistance zone, the risk of a critical support decline below $110,530 increases. In this case, the BTC/USDT pair could collapse to $105,000 and then drop to $100,000.
Buyers will have to push the price higher than 20 days of SMA to seize control. If they do, the two may retest the resistance zone from $120,000 to $123,218.
Ether price forecast
ETH is supported in the region between $3,422 with 50% Fibonacci retracement level and $3,300 with 61.8%.
The relief rally is expected to face 20-day SMA sales ($3,652), but if the Bulls prevail, the ETH/USDT pair could rise to $3,941, eventually reaching $4,094. The seller is expected to implement a strong defense for $4,094.
Conversely, if the price drops from the 20-day SMA and is interrupted below $3,354, it indicates that the Bulls are losing grip. This increases the risk of decline to a 50-day SMA ($3,013).
XRP Price Forecast
xrp(XRP) fell below $2.95 on Saturday, but rebounded in Sunday’s 50-day SMA ($2.66) indicating a lower purchase.
The XRP/USDT pair could rise to a 20-day SMA ($3.19), and the bears are expected to step in. If the price is below the 20-day SMA, this pair may stay between the moving average for a few days.
SMA with a rest period of more than 20 days can clear the road to the rally to $3.33 and then clear it to $3.66. Instead, the slideshow below the 50-day SMA marks a deeper correction to $2.40.
BNB price forecast
BNB(BNB) fell below Friday’s 20-day SMA ($769) and received reliable support of $732 on Saturday.
The BNB/USDT pair rebounded at $732 on Sunday, but the recovery could face strong sales on the 20-day SMA. If the price drops sharply from the 20-day SMA, the Bears will try to drop the couple below $732. If they can cancel it, the couple can drop to a 50-day SMA ($702).
Instead, SMA with rest time of more than 20 days indicates a tilt stable purchase. The two may climb to $794, after that, to $815.
Solana price forecast
Seller Lasorana (sol) Below Saturday’s 50-day SMA ($161) but couldn’t maintain a lower level.
Negative moving averages and RSI in negative areas have no obvious advantage for bulls or bears. SOL/USDT pairs can trade between moving averages for a period of time.
The rest time is higher than the 20-day SMA ($179), which is good for the Bulls. The couple can then try to rally to $195. On the other hand, close distances below $155 give the bear an advantage. The couple could fall to $144 and then to $137.
Dogecoin price forecast
Dogecoin(Doge) In a few months, within the trading range between $0.14 and $0.29.
The flat moving average and the RSI of the negative area indicate that the action within the range may last for a while. The break and 50-day SMA ($0.19) could put the crucial support price down to $0.14.
The first sign of intensity will be a close distance of 20-day SMA. The Doge/USDT pair may rise to $0.26 and eventually reach $0.29. Sellers are expected to defend the $0.29 level.
Cardano Price Forecast
cardano(Aida) emerged from Sunday’s 50-day SMA ($0.68), indicating lower demand.
The average of both movements has flattened. RSI At the midpoint, it indicates that there is a balance between supply and demand. This may cause the ADA/USDT pair to exist for a period of time between moving averages.
The seller may have other plans. They will work hard to increase the price below the 50-day SMA. If they manage to do so, the two may extend the pullback to a solid support of $0.50. Buyers will have to push the price higher than SMA for 20 days to gain an advantage.
Excellent price forecast
star(XLM) attempted to rebound from the $0.34 61.8% Fibonacci retracement level, but relief rally is expected to face 20-day SMA sales ($0.43).
If the price drops sharply than the 20-day SMA, it means that the sentiment has turned negative and traders sell it at the rally. This can increase the price to a 50-day SMA ($0.33), which is a crucial support to note. If the 50-day SMA is cracked, the XLM/USDT pair may drop to $0.29.
Buyers will have to drive and keep prices above the 20-day SMA price to indicate a comeback. Then, the two may climb to $0.46 before climbing to $0.49.
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.
