Key points:
Bitcoin has pulled back into the $115,000 to $110,530 support zone, where buyers are expected to mount a strong defense.
ETH has been holding near the overhead resistance as investors pour money into the spot ETH ETFs.
Repeated failure to maintain Bitcoin (BTC) above the $120,000 level in the past few days may have tempted short-term traders to book profits. That pulled the price below the $115,000 level on Friday.
BTC’s consolidation seems to be shifting investor interest toward Ether (ETH), causing a capital rotation, according to a new research shared on X by crypto market insight firm Swissblock.
According to Farside Investors’ data, spot ETH exchange-traded funds (ETFs) recorded net inflows of roughly $2.4 billion in the past six trading days, well above the $827 million in net inflows into spot BTC ETFs during the same period.
Galaxy Digital CEO Michael Novogratz said on CNBC that ETH could possibly “outperform Bitcoin in the next three to six months.” He added that ETH could go into price discovery if it takes out $4,000.
BitMEX co-founder Arthur Hayes was even more bullish as he anticipates ETH to hit $10,000 by the end of the year.
What are the critical support and resistance levels to watch out for in BTC and the major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC has slipped below the 20-day simple moving average ($116,305), indicating that the bears are trying to make a comeback.
However, the bulls are unlikely to give up easily. They will aggressively defend the zone between the 20-day SMA and the $110,530 support. If the price turns up sharply from the support zone, it suggests that the sentiment remains positive and traders are buying on dips. That increases the possibility of a break above $123,218. If that happens, the BTC/USDT pair could surge to $135,729.
This optimistic view will be negated in the near term if the price continues to fall and plummets below $110,530. That could accelerate selling, pulling the pair toward the vital support of $100,000.
Ether price prediction
ETH is facing significant resistance from the bears at the $3,745 level, but a positive sign is that the bulls have not ceded much ground to the bears.
A tight consolidation near a strong resistance increases the likelihood of a break above it. If that happens, the ETH/USDT pair could challenge the overhead resistance at $4,094. A break and close above the resistance could start the next leg of the uptrend toward $4,868.
The first support on the downside is at $3,500. A break and close below $3,500 opens the gates for a fall to the 20-day SMA ($3,234). Buyers are expected to fiercely defend the 20-day SMA because a break below it tilts the advantage in favor of the bears.
XRP price prediction
Buyers tried to push XRP (XRP) above the $3.66 resistance on Monday, but the bears held their ground.
Failing to resume the uptrend may have tempted short-term buyers to book profits. That pulled the price to the 20-day SMA ($2.96), which is likely to act as a strong support. If the price rebounds off the 20-day SMA with strength, the bulls will make one more attempt to kick the XRP/USDT pair above $3.66. If they succeed, the pair could ascend to $4 and then to $4.50.
Contrary to this assumption, a break and close below the 20-day SMA could signal the start of a deeper correction to $2.60.
BNB price prediction
BNB (BNB) skyrocketed to a new all-time high of $809 on Wednesday, but the bulls could not sustain the higher levels.
The pullback is finding support in the $761 to $732 zone. A shallow pullback signals the bulls are not hurrying to book profits as they anticipate another leg higher. If the price turns up from the current level and breaks above $809, the BNB/USDT pair could surge to $900.
Sellers will have to pull and maintain the price below the 20-day SMA ($714) to prevent the upside. Such a move suggests that the break above the $794 level may have been a bull trap.
Solana price prediction
Solana (SOL) turned down from the $209 resistance on Wednesday and broke below the breakout level of $185 on Thursday.
There is strong support at the 20-day SMA ($171). If the price rebounds off the 20-day SMA, the bulls will again attempt to thrust the SOL/USDT pair above $209. If they can pull it off, the pair may jump to $240 and eventually to $260.
Alternatively, a break below the 20-day SMA suggests the bulls are losing their grip. The pair may drop to the 50-day SMA ($157). A deep correction could delay the start of the next leg of the up move.
Dogecoin price prediction
Dogecoin (DOGE) has been oscillating between $0.14 and $0.29 for several days, indicating buying on dips and selling near the overhead resistance.
The price turned down from $0.29 on Monday but is likely to find support at the 20-day SMA ($0.21). If the price rebounds off the 20-day SMA, the bulls will try to drive the DOGE/USDT pair to $0.29. A break and close above $0.29 could start a new uptrend toward the target objective of $0.44.
Instead, if the price dips below the 20-day SMA, it suggests the pair may remain inside the large range for a few more days.
Cardano price prediction
Cardano (ADA) is finding support at the 20-day SMA ($0.74), but the bears are likely to sell on rallies.
If the price turns down and breaks below the 20-day SMA, it suggests a lack of demand at lower levels. That opens the doors for a fall to the 50-day SMA ($0.66).
On the contrary, if the price again rebounds off the 20-day SMA, it indicates that the bulls are aggressively defending the level. The bulls will try to push the price to $0.86 and then to $0.94. Sellers are expected to protect the $0.94 level, but if the bulls prevail, the ADA/USDT pair could resume the up move to $1.02 and then to $1.17.
Related: Eric Trump ‘agrees' Ether should be over $8K as Global M2 money soars
Hyperliquid price prediction
Hyperliquid (HYPE) broke below the 20-day SMA ($44.29) on Wednesday and has reached the support line of the ascending channel pattern.
The 50-day SMA ($40.69) is also placed near the channel’s support line, indicating that the bulls are likely to defend the level with vigor. If the price rebounds off the support line and rises above the 20-day SMA, it suggests the HYPE/USDT pair may remain inside the channel for some more time. The pair may climb to $48 and then to $49.87.
Conversely, a break and close below the support line signals the start of a deeper correction. The pair may slump to $36 and subsequently to $32.
Stellar price prediction
Stellar (XLM) pulled back from $0.52 on July 18 and has reached the 20-day SMA ($0.40), which is likely to attract buyers.
If the price rebounds off the 20-day SMA with strength, the bulls will try to propel the XLM/USDT pair toward the overhead resistance at $0.52. A break and close above $0.52 signals the start of the next leg of the up move toward $0.64.
On the other hand, a break and close below the 20-day SMA suggests the short-term bulls are booking profits. The pair could then slump to the 61.8% Fibonacci retracement level of $0.34.
Sui price prediction
Sui (SUI) turned down from the $4.30 resistance on July 18, indicating that the bears are active at higher levels.
The $3.55 level is the crucial support to watch out for in the near term. If the price turns up from the current level and breaks above $3.87, it suggests the SUI/USDT pair may form a range between $3.55 and $4.30. Buyers will be back in the driver’s seat on a close above $4.30.
Contrarily, if the price continues lower and breaks below $3.55, it suggests that the bulls have given up. The pair may then decline to the 50-day SMA ($3.20), which could attract buyers.
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.