Bitcoin Tops $114K, Altcoins Follow. Are New Highs Incoming?

Key points:

• Bitcoin could challenge the $117,500 level if buyers secure a daily close above $114,000.

• Altcoins are trying to start a relief rally, but are still expected to face selling at higher levels.

Bitcoin (BTC) extended its recovery above $114,000 on Monday, indicating aggressive buying by the bulls. BTC remains stuck in a range, with analysts divided about the next directional move. Some expect BTC to start a bear phase, while others project a rally to a new all-time high.

Market participants have turned cautious due to BTC’s near-term uncertainty. BTC exchange-traded products (ETPs) recorded $719 in net outflows last week, per CoinShares’ weekly report. The altcoin picture was mixed; Ether (ETH) ETPs witnessed $409 million in outflows, but Solana (SOL) recorded $291 million in inflows.

As September comes to a close, BTC traders look positively toward October, which has historically seen an average rise of 21.89% since 2013, according to CoinGlass data. Bitcoin network economist Timothy Peterson said in a post on X that BTC’s bull phase spans from Oct. 11 to June 11, which gives a 50% chance of BTC surging to $200,000 by June 2026.

Could BTC break above its overhead resistance, pulling altcoins higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out. 

S&P 500 Index price prediction

The S&P 500 Index (SPX) pulled back from 6,699 on Tuesday but found support at the 20-day exponential moving average (EMA) (6,586) on Thursday. 

The upsloping moving averages and the relative strength index (RSI) in the positive territory indicate that bulls are in control. If buyers thrust the price above 6,700, the index could resume its uptrend toward the 7,000 level.

Sellers will have to tug the price below the 20-day EMA to weaken the bullish momentum. The index may then plummet to the 50-day simple moving average (SMA) (6,459). The bulls are expected to defend the 50-day SMA with all their might because a drop below it may trigger a deeper correction to 6,147.

US Dollar Index price prediction

Buyers propelled the US Dollar Index (DXY) above the 50-day SMA (98.02) on Thursday, but the bulls are struggling to hold on to the breakout.

The flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price turns down and breaks below the 20-day EMA (97.74), it suggests that the index may consolidate between 99 and 96.21 for a while longer. 

On the contrary, if the price turns up from the 20-day EMA and breaks above the 99 level, it indicates a positive sentiment. The index may then climb to 100.50 and eventually to the 102 level.

Bitcoin price prediction

BTC has been oscillating between $107,000 and $124,474, indicating indecision between the bulls and the bears about the next directional move.

The BTC/USDT pair will complete a bearish double-top pattern if the price turns down and breaks below $107,000. That suggests the Bitcoin price may have topped out in the near term. The pair could plummet to $100,000 and subsequently to the pattern target of $89,526.

Conversely, if the price rises above the moving averages, it indicates that the selling pressure is reducing. The pair may then climb to $117,500, which is a critical level to watch out for. If buyers overcome the $117,500 barrier, the all-time high is likely to be tested.

Ether price prediction

ETH started a pullback from $3,815 on Thursday, which is likely to face selling at the 20-day EMA ($4,262).

If buyers overcome the resistance at the 20-day EMA, the Ether price could rally to the resistance line. Sellers will again attempt to halt the recovery at the resistance line as a break and close above it could open the doors for a rally to $4,957.

Instead, if the price turns down from the 20-day EMA, it signals a negative sentiment. That increases the possibility of a break below $3,745. If that happens, the ETH/USDT pair may tumble to $3,426. 

XRP price prediction

XRP (XRP) continues to trade inside the descending triangle pattern, indicating that the bears have kept up the pressure.

If the price turns down from the moving averages, the bears will attempt to sink the XRP/USDT pair below the $2.69 support. If they manage to do that, the pair will complete the bearish setup. The XRP price may then collapse to $2.20.

Buyers will have to push and maintain the price above the downtrend line to invalidate the negative pattern. That may trap the aggressive bears, pushing the pair to $3.40 and later to $3.66.

BNB price prediction

BNB (BNB) bounced back from the 61.8% Fibonacci retracement level of $934 on Friday, indicating demand at lower levels.

The recovery is expected to face stiff resistance at $1,034 and then at the all-time high of $1,083. If the price turns down from the overhead zone and breaks below $932, it signals that the BNB/USDT pair may have topped out in the near term. The BNB price may then tumble to the 50-day SMA ($901).

Alternatively, a break and close above the $1,083 level indicates the resumption of the uptrend. The pair may then start the next leg of the up move to $1,173.

Solana price prediction

SOL started a relief rally from $191 on Friday, which is expected to face selling at the 20-day EMA ($216).

If the price turns down from the moving averages, the bears will try to sink the SOL/USDT pair below $191. If they can pull it off, the Solana price could plummet to $185 and thereafter to $155.

This negative view will be invalidated in the near term if the price turns up and breaks above the 20-day EMA. That clears the path for a retest of the $260 overhead resistance, where the bears are expected to mount a strong defense.

Related: XRP price: Record quarterly close may trigger rally toward $15

Dogecoin price prediction

Dogecoin (DOGE) bounced off the uptrend line on Friday, but the recovery is facing resistance at the moving averages.

The downsloping 20-day EMA ($0.24) and the RSI just below the midpoint signal a minor advantage to the bears. If the price turns down and breaks below the uptrend line, it suggests that the DOGE/USDT pair could extend its stay inside the $0.14 to $0.29 range for some more time.

The first sign of strength will be a break and close above the 20-day EMA. That opens the doors for a retest of the stiff overhead resistance at $0.29.

Cardano price prediction

Sellers pulled Cardano (ADA) below the $0.78 support on Thursday but could not sustain the lower levels.

The price rose back above $0.78 on Friday, and the bulls are trying to extend the relief rally to the moving averages. If the price turns down from the 20-day EMA ($0.83), the bears will again attempt to pull the ADA/USDT pair toward $0.68.

Contrarily, if buyers push the price above the moving averages, the Cardano price may reach the resistance line. A break and close above the resistance line signals that the bulls are back in the game.

Hyperliquid price prediction

HYPE turned up sharply from the $40 support on Friday, indicating aggressive buying at lower levels.

The HYPE/USDT pair has reached the moving averages, which is a crucial level to watch out for. If the price turns down from the moving averages, the bears will again try to sink the pair below $40. If they manage to do that, the Hyperliquid price could slump to $35.50.

Instead, if buyers drive the price above the moving averages, it suggests that the corrective phase may be over. The bulls will then attempt to push the pair to the all-time high at $59.41

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