Bitcoin’s 7-day volatility hits a 563-day low, indicating a potential breakout above $95,000. Other cryptocurrencies, including Ether, XRP, BNB, and SOL, are also examined for possible price movements. Caution is advised as short-term profit-taking could lead to pullbacks in several cases.
In the latest price predictions for Bitcoin and popular altcoins, analysts are weighing in on potential movements as volatility hits a notable low. Bitcoin (BTC) has shown historically low 7-day volatility, with reports from K33 Research’s Vetle Lunde noting that this is the lowest in 563 days. This generally points toward a forthcoming range expansion.
Bitcoin is currently hovering around the $95,000 mark, struggling to break through decisively. While some analysts remain optimistic about a potential breakout above this key resistance level, which could send prices soaring toward $100,000 and beyond, there’s a cautionary note here. A failure to maintain momentum could lead to short-term profit-taking and a possible pullback.
Diving into the Bitcoin price prediction, it’s evident bulls are still under pressure near the $95,000 threshold. However, supportive indicators like the rising 20-day EMA (currently at $90,102) suggest the path of least resistance may be upwards. If Bitcoin manages to decisively break and close above that $95,000 mark, expect a swift advance towards $107,000. Yet, sellers at $100,000 are likely to push back hard, which could affect the momentum.
Turning to Ether (ETH), buying support is evident at the moving averages, though bulls have yet to initiate a convincing rally. For a stronger bullish signal, Ether needs to close above $1,858; if that happens, it could rally to around $2,111, which is a critical resistance level. However, if the price dips below these supports, expect a longer range-bound period between $1,368 and $2,111.
In the case of XRP, the resistance line has thwarted upward movement, leading to a dip below moving averages on April 30. This signals a potential bearish trend, with critical support resting at $2. Should that level fail, we could see XRP tumble to $1.61. Conversely, if buyers can overcome the resistance line, it may spell the end of the downtrend, pushing prices towards $3.
For Binance Coin (BNB), as it fell beneath moving averages, buyers must act swiftly to regain upward momentum. A significant level to watch is $620; closing above this would strengthen the bullish case and lead to a potential rally towards $644. Should BNB keep dropping, expect to see support at around $576.
Regarding Solana (SOL), the price retreated from $153 but remains supported above the 20-day EMA at $140. A rebound from here could initiate a strong push above resistance to $180, but a break below the 20-day EMA would signal a potential slide towards $131.
Dogecoin (DOGE) has settled into a trading range between $0.14 and $0.21 lately. While indecisiveness remains, if buyers push above $0.21, we could see them completing a double-bottom pattern with a target of $0.28. Falling below $0.14 could reactivate the downtrend towards $0.10.
Shifting focus to Cardano (ADA), it has managed to hold above moving averages despite weak buying signals. Prices dropping beneath these indicators could target a support level of $0.58, while a breakout beyond $0.75 may lead to a bullish spike toward $0.83.
In the case of Sui (SUI), sellers appear to be gaining momentum, pushing towards the 38.2% Fibonacci level at $3.14. Should they break below this, we could see SUI fall to $2.89. A strong bounce here could lead attempts towards surpassing $3.90 again.
Chainlink (LINK) has encountered resistance at the $16 mark; if it fails, a move down to the 20-day EMA could ensue. A decent hold above these moving averages could see LINK attempt to breach resistance again, but downward momentum could open the door for a drop to $11.68.
Finally, Avalanche (AVAX) is drawing closer to moving averages, with a bounce here potentially sparking a rally to around $31.73 if the bulls regain the upper hand. Conversely, a breach below the 50-day SMA at $19.68 signals weakness and could keep AVAX within a lower range.
This analysis, like any predictions, involves risk. All investors are urged to conduct thorough research prior to making any trading decisions.
