Key Points:

• Bitcoin’s support rally threatens to sell near $72,000, but the positive sign is that the bulls haven’t given much ground to the bears.

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• Several major altcoins are at risk of selling higher, indicating that sentiment remains negative.

Bitcoin (BTC) fell closer to $69,500, indicating that bears are selling during rallies. Several analysts believe that the bottom for BTC is still not there. Trader BitBull wrote in a post on X that “the real bottom for BTC will form below $50,000, where most ETF buyers will be underwater.”

A different point of view was presented by the crypto sentiment platform Santiment. In Saturday’s report, the Santiment team said the data suggests the drop to $60,000 may have been a real bottom. However, to ensure a sustained recovery, the market needs to stay above a key support level and whales need to continue pre-accumulating.

According to CryptoQuant Darkfost analyst, another positive factor for bulls is the decline in the BTC Sharpe ratio to -10, which historically indicates the final phase of the bear market. While the readings do not confirm the end of the bear market, they do indicate that the risk-reward profile may reach extreme levels.

Can BTC and major altcoins start a mighty rally, or will the downtrend resume? To find out, let’s analyze the charts of the 10 most popular cryptocurrencies.

S&P 500 Index Price Forecast

The S&P 500 Index (SPX) fell below an ascending channel formation on Thursday, but bulls were unable to sustain the lower levels.

The index rebounded on Friday and rose above moving averages. This shows that the break below the channel may have been a bear trap. The bulls will try to push the price to the resistance line, where the bears are expected to step in.

The 20-day exponential moving average (6917) is leveling out and the Relative Strength Index (RSI) is just above the midpoint, signaling a balance between supply and demand. A close above the resistance line could start the next part of the uptrend towards 7.290.

US Dollar Index Price Forecast

The US Dollar Index (DXY) rose above the 20-day EMA (97.67) on Thursday, but bulls were unable to sustain higher levels.

On Monday, the price dropped sharply below the 20-day EMA, signaling that the bears were trying to take control. There is mighty support in the support zone of 96.21-95.51, but if the bears prevail, the index may drop to 91.88.

Instead, if the price rebounds sharply from the current level or support zone and rises above the moving averages, it will be a signal that the index may extend its stay in the 96.21-100.54 range for some time.

Bitcoin price prediction

BTC’s recovery has stalled just below the breakdown level of $74,508, indicating that bears are trying to turn this level into resistance.

The falling 20-day EMA ($78,142) and the RSI at a negative level indicate an advantage for sellers. If the price drops from $74,508 or the 20-day EMA, the bears will again seek to pull the BTC/USDT pair towards $60,000.

This negative opinion will be invalidated in the near future if Bitcoin price breaks above the 20-day EMA. This suggests solid buying at lower levels. The pair may then rise towards the 50-day SMA ($86,636).

Ether price prediction

Ether (ETH) rally threatens to sell at $2,111, but the positive sign is that the bulls have not given much ground to the bears.

If the price decisively closes above the $2,111 level, the ETH/USDT pair could climb to the 20-day EMA ($2,447). This is a key resistance to pay attention to, as a break above it suggests that bearish momentum has weakened. Ether price may then rise to the 50-day SMA ($2,877).

Sellers will need to aggressively defend the $2,111 level to maintain their advantage. If this happens, the $1,750 level may be at risk of breaking. The pair could then drop to $1,537.

BNB Price Forecast

The relief rally BNB (BNB) is facing a sell-off near the 50% Fibonacci retracement level of $676, which indicates negative sentiment.

If the price falls below $602, bears will try to push the BNB/USDT pair below the support at $570. If they succeed, the pair could drop to $500.

Conversely, if bulls push the BNB price above $676, the pair could rise to a breakdown level of $730. Sellers are expected to defend the $730-790 zone as a break above this zone suggests that the bulls are back in the game. The pair could then rise to the 50-day SMA ($849).

XRP price forecast

Buyers have kept XRP (XRP) above the descending channel support line but are struggling to push the price towards the 20-day EMA ($1.63).

If the price falls and crosses the support line, it means that the bears are still in control. The XRP/USDT pair may then retest the $1.11 level. Buyers are expected to defend the $1.11 level with all their might as a break below that level could send the pair falling to $1 and then to $0.75.

Buyers will need to push the XRP price above the 20-day EMA to gain an advantage in the brief term. The pair may then march towards the downtrend line. A close above the downtrend line suggests the beginning of a fresh upward move.

Solana price forecast

Solana’s rally (SOL) is facing selling just below the $95 breakdown level, which indicates that bears are trying to turn this level into resistance.

If Solana’s price continues to decline and falls below $77, it will mean that the bears will continue to rule. The SOL/USDT pair may then retest the $67 level, which will likely provide mighty support.

Sellers are expected to defend the zone between the 20-day EMA ($104) and the $95 level, as a close above that level signals that the bulls are back in the driver’s seat. The pair can then march towards the 50-day SMA ($123).

Related: Bitcoin whales took advantage of a price drop of 60,000. dollars and won 40 thousand. BTC

Dogecoin price forecast

Traders are trying to stop Dogecoin (DOGE) support from rising at the psychological $0.10 level.

If the price of Dogecoin drops from its current level, it increases the possibility of a breakout below the $0.08 level. The DOGE/USDT pair may then resume its downtrend and fall to $0.06.

The bulls’ time is running out. They will need to push the price above the 20-day EMA ($0.11) to suggest that bearish momentum is fading. The pair may then march towards the $0.13 level.

Cardano Price Forecast

Cardano’s (ADA) shallow bounce from the support line of a descending channel pattern indicates that bears are selling on a rally.

If Cardano price falls from its current level, the bears will again try to drag the ADA/USDT pair below the support line. If they succeed, the pair could fall to the next support at $0.20.

Conversely, a break above the 20-day EMA ($0.30) suggests that the pair may remain in the channel for some time. Buyers will gain the upper hand on a close above the downtrend line. The pair may then rise to the $0.50 split level.

Bitcoin Cash Price Forecast

The Bitcoin Cash (BCH) relief rally is facing resistance at the 20-day EMA ($543), indicating bearish sentiment.

If the price continues to fall and falls below $497, it suggests that the bears remain in control. The BCH/USDT pair may then fall towards the key support at $443, where buyers are expected to step in.

On the other hand, bulls will need to push and hold the price above the 20-day EMA to negate the bearish view. If they do so, the price of Bitcoin Cash could rise to the 50-day SMA ($585).