Bitcoin’s rally above the $78,333 resistance level signals sustained buying by the bulls and clears the way for a potential move toward $84,000. Several major altcoins are also attempting to break above their respective resistance levels, suggesting aggressive buying at lower prices.
Market setup: resistance breaks and momentum signals
Bitcoin ([BTC]) rallied above $79,000, indicating that buyers are back in control. Crypto market intelligence platform Decode said in a post on X that BTC was “ready for a short squeeze,” pointing to expectations for a bullish push.
CryptoQuant analyst CW8900 said BTC’s adjusted Net Unrealized Profit/Loss (NUPL)—the difference between total profits and losses currently held by investors—has turned positive. CryptoQuant contributor Julio Moreno added a note of caution, saying the Bitcoin Bull Score Index (BSI) entered neutral territory for a week during March 2022 before resuming its decline later.
Bitcoin (BTC) price prediction
BTC turned up from the 20-day exponential moving average (EMA) at $73,758 on Monday and rose above $78,333 on Wednesday, giving the bulls an advantage.
- If BTC stays above $78,333, the likelihood of a rally to $84,000 increases.
- The 20-day EMA at $73,758 is the key downside level; sellers would need to pull price below it to invalidate the bullish setup.
- If that level breaks, the BTC/USDT pair may fall to the 50-day simple moving average (SMA) at $70,934.
Ether (ETH) price prediction
Ether ([ETH]) rebounded off the 20-day EMA at $2,273 on Monday, signaling a shift from selling on rallies to buying on dips.
- With moving averages sloping upward and the RSI in a positive zone, the path of least resistance is to the upside.
- If buyers clear the $2,465 hurdle, ETH/USDT may rise toward $2,800.
- A break and close below the 20-day EMA would be the first sign of weakness, potentially leading to a drop to the 50-day SMA at $2,157 and then toward the support line.
XRP (XRP) price prediction
XRP ([XRP]) turned up from the moving averages on Monday, suggesting bulls are treating dips as buying opportunities.
- Buyers aim to push XRP toward the downtrend line of a descending channel, where bears are expected to sell aggressively.
- If price turns sharply down from that downtrend line, the XRP/USDT pair may spend more time inside the channel.
- Buyers regain control if price is propelled and sustained above the downtrend line, which could allow a climb to $2 and indicate a short-term trend change.
BNB (BNB) price prediction
BNB ([BNB]) turned up from the 20-day EMA at $623 on Monday and rose above the $649 resistance on Wednesday.
- If buyers sustain price above $649, BNB/USDT may surge toward $687.
- Sellers are expected to defend $687, but if bulls pierce it, the recovery could extend to $790.
- If BNB turns sharply lower from resistance and breaks below the moving averages, the pair may remain within the $687 to $570 range for longer.
Solana (SOL) price prediction
Solana ([SOL]) continues to trade near the moving averages, reflecting a balance between supply and demand.
- If SOL rises above $91, SOL/USDT may climb to overhead resistance at $98.
- While sellers are expected to defend $98, a bullish break could extend the uptrend to $117.
- If SOL turns down from $98 and breaks below the moving averages, the range-bound action may continue for several more days.
Dogecoin (DOGE) price prediction
Dogecoin ([DOGE]) turned up from the moving averages on Monday, with bulls attempting a comeback.
- DOGE may rise to the psychological level of $0.10, where bears are expected to step in.
- If buyers hold their ground, the odds of a rally to the $0.12 overhead resistance increase.
- Bears need to pull price back below $0.09 quickly to retain the advantage; if they do, DOGE/USDT may slump to the Feb. 6 low of $0.08.
Hyperliquid (HYPE) price prediction
Hyperliquid ([HYPE]) bounced off the 50-day SMA at $38.41 on Tuesday, indicating bulls are buying dips.
- The 20-day EMA at $40.90 is flattening and the RSI is near the midpoint, pointing to weakening bullish momentum.
- This increases the likelihood of a near-term range formation.
- The 50-day SMA is the key downside support; a close below it could deepen the pullback to $34.45.
- On the upside, bulls need to push HYPE/USDT above $45.77 to signal a resumption of the uptrend.
Cardano (ADA) price prediction
Cardano ([ADA]) has risen into a resistance zone between the 50-day SMA at $0.26 and a downtrend line.
- If buyers push and sustain ADA above the downtrend line, it would signal a potential short-term trend change.
- In that case, ADA/USDT may rally to $0.32 and then to $0.37.
- If price turns sharply down from the downtrend line and breaks below $0.22, the pair may remain within a descending channel for some time.
Bitcoin Cash (BCH) price prediction
Bitcoin Cash ([BCH]) broke above the 50-day SMA at $454, indicating solid demand at lower levels.
- Moving averages are near a bullish crossover, suggesting bulls have the upper hand.
- Buyers will attempt to strengthen their position by pushing BCH above the $486 resistance.
- If successful, BCH/USDT may rally to $520.
- If price turns down from current levels or overhead resistance and breaks below the moving averages, the pair may form a range for some time.
Monero (XMR) price prediction
Monero ([XMR]) surged and closed above $382 on Tuesday, but bulls are struggling to sustain the gains.
- If XMR remains above $382, XMR/USDT may start a new uptrend targeting $462.
- If XMR closes below $382, it suggests bears are selling on rallies, and the pair may pull back to the moving averages, which are likely to act as support.
- If price rebounds off the moving averages, bulls may attempt to initiate the uptrend again.
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.
