Bitcoin Bounces At $100K, Will Altcoins Follow?

Key points:

• Bitcoin bounced off the $100,000 support, but the relief rally is expected to face selling near $107,000.

• Several altcoins find buying support at lower levels, but the recovery may face selling in rallies.

Bitcoin (BTC) the bulls aggressively defended the crucial psychological support at $100,000 and pushed the price above $103,000. However, the higher levels are expected to attract selling from the bears. ShapeShift analyst Houston Morgan said that BTC is unlikely to rally above $125,000 in 2025.

A sustained recovery has blown up BTC as long-term BTC holders, entities that hold coins for at least six months without selling, and short-term BTC holders, have gone on a selling spree.

According to an X post by CryptoQuant analyst Maartunn, LTH supply decreased by 405,000 BTC in the last 30 days. STHs also remain sellers, sending 28,600 BTC to exchanges over the past three days, Maartunn added.

While many analysts expect a deeper correction, Bitwise chief investment officer Matt Hougan told CNBC that the latest leg of the downward move shows peak sales capitulation rather than the beginning of a deeper collapse. He expects BTC to “end the year at new all-time highs.”

What are the crucial support levels to watch for in BTC and major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price forecast

BTC closed below the $107,000 support on Monday and extended its decline below the $100,000 level on Tuesday.

Buyers are fiercely defending the $100,000 level, but the recovery is expected to face selling at the breakdown level of $107,000 and then the 20-day exponential moving average ($109,341). If the price drops sharply from the resistance above, the risk of a break below $100,000 increases. If that happens, the BTC/USDT pair could sink to $87,800.

The first sign of strength will be a close above the 20-day EMA. The price of Bitcoin may go up to the 50-day simple moving average ($113,072).

Ether price forecast

ether (ETH) closed below the support line of the descending channel pattern on Monday, indicating that the bears are trying to take charge.

Sales accelerated on Tuesday, and the price of Ether slipped below the $3,350 support. The lower levels have attracted buying, but the relief rally is expected to face selling near the support line of the channel.

If the price drops from the resistance above, the bears will try to resume the downward trend. A break and close below the $3,000 level could sink the ETH/USDT pair to the $2,500 level.

BNB price forecast

BNB (BNB) dipped below the $1,021 support on Monday, signaling a potential near-term top.

The BNB/USDT pair is expected to find support near $860, but the rebound may face selling at $1,021 and then at $1,070. If the price drops from the above resistance, the bears will make another attempt to sink the pair below $860. If they succeed, the price of BNB could dive to $730.

Instead, if buyers defend the $860 level, the pair could form a range. The pair may fluctuate between $860 and $1,070 for a while.

XRP price forecast

XRP (XRP) slipped below the $2.19 support on Tuesday, indicating that the bears are in command.

Any recovery attempt is expected to face selling at the 20-day EMA ($2.46). If the price drops sharply from the 20-day EMA, the XRP/USDT pair could hit the crucial support at $1.61. Buyers are expected to fiercely defend the $1.61 level, as a break below can sink the pair to $1.25.

On the upside, the bulls are likely to face selling at the moving averages and then the downtrend line. A close above the trend line tilts the advantage in favor of buyers.

Solana price forecast

Solana (SOL) fell below the $155 level on Tuesday, but buyers will attempt to recover the level on Wednesday.

The downsloping moving average and the RSI near oversold territory signal that the path of least resistance is to the downside. A weak rebound increases the possibility of a drop to the next support at $126.

Buyers need to push Solana’s price above the 20-day EMA ($184) to indicate that selling pressure has lifted. The SOL/USDT pair may then rally to the 50-day SMA ($203).

Dogecoin price forecast

Dogecoin (DOGE) continued its decline toward the bottom of the $0.25 to $0.14 range, where buyers are expected to move.

If the price returns from the current level or support of $0.14 and rises above the 20-day EMA ($0.19), it suggests that the DOGE/USDT pair could extend its stay in the range for some more time.

On the contrary, if the price breaks down from the 20-day EMA, the bears will again try to pull the pair below the $0.14 support level. If they can pull it off, Dogecoin’s price could retest the October 10 intraday low of $0.10.

Cardano price forecast

Cardano (ADA) continued its decline and reached solid support at $0.50, where buyers are expected to mount a strong defense.

The bulls need to push the price above the 20-day EMA ($0.62) to weaken the bearish momentum. If they manage to do this, the ADA/USDT pair could climb to the 50-day SMA ($0.73).

On the contrary, if the price drops from the 20-day EMA, it indicates that the sentiment remains negative and the bears continue to sell in rallies. That increases the risk of a drop below the $0.50 support. The Cardano price can then drop to $0.40.

Related: Bitcoin ‘bear market’ confirmed: Watch these BTC price levels next

Hyperliquid price prediction

Hyperliquid (HYPE) fell below the neck on Tuesday, but found support at the crucial $35.50 level.

The relief rally is expected to face selling at the moving averages, but if the bulls prevail, the pair HYPE / USDT could go up to $52. The sellers will try again to stop the recovery at $52. If the price goes down from the resistance above, the pair could fluctuate between $35.50 and $52 for a few days.

Conversely, if the price drops sharply from the moving averages, the pair risks falling below $35.50. If that happens, the Hyperliquid price could drop to $30.50.

Chainlink price forecast

Chainlink (LINK) returned from the 20-day EMA ($17.26) and closed below the $15.43 support on Monday.

The bulls tried to push the Chainlink price back above the $15.43 breakout level on Tuesday, but the bears held their ground. If the price remains below $15.43, the pair LINK/USDT risks a fall to $12.73 and then to $10.94.

Conversely, if buyers push the price above $15.43, the pair could rally to the 20-day EMA. The sellers will try to set up the move up to the EMA of 20 days, but if the buyers bulldoze their way, the pair can reach the resistance line.

Bitcoin Cash Price Prediction

Bitcoin Cash (BCH) fell below the 20-day EMA ($520) on Monday, indicating that the price may remain in the falling wedge pattern for a few days.

The bulls will try to defend the $443 level, but the recovery is expected to face selling pressure at the 20-day EMA. If the price breaks down from the current level or the 20-day EMA, it suggests that bears remain active at higher levels. The price of Bitcoin Cash could then skid below the level of $443 and reach the support line of the wedge.

Buyers should propel the price above the resistance line to signal a potential trend change. The BCH/USDT pair could then climb towards $600.

This article does not contain investment advice or recommendations. Every investment and business move involves risk, and readers should do their own research when making a decision.