Bitcoin (BTC) is currently trading above $103,000, with buyers attempting to push the price toward its all-time high of $109,588. Research indicates that Bitcoin whales and sharks holding between 10 to 10,000 BTC have accumulated 83,105 BTC over the past 30 days, suggesting potential for a new record high.
Alongside Bitcoin, several major altcoins are displaying bullish trends, signaling the start of an altcoin season. Factors such as declining Bitcoin and USDT dominance, combined with rallies in selected altcoins, contribute to this optimism.
However, some caution exists with the possibility of profit-taking by long-term holders or whales, especially around Bitcoin's so-called "Alpha Price" zone.
Specific price predictions for top cryptocurrencies include:
- Bitcoin (BTC): Maintaining above $100,000 may lead to retesting the all-time high near $109,588 and potentially surging to $130,000 if key resistances between $107,000 and $109,588 are surpassed. Conversely, a drop below the 20-day EMA (~$98,407) might trigger profit bookings and correction to the 50-day SMA (~$89,952).
- Ethereum (ETH): After breaking above $2,550, ETH could rally to $3,000, though overbought RSI signals may cause short-term consolidation or correction. Support levels include $2,550 and $2,400, with the 20-day EMA at roughly $2,147 as a crucial zone.
- XRP: Faces resistance at $2.65 but retains bullish prospects for surpassing this to reach $3 and possibly the $3 to $3.40 resistance zone. The 20-day EMA near $2.32 acts as critical support.
- BNB: Held above $644 and struggling near $675; a break above $675 could prompt a rally toward $745, with downside risk below the 20-day EMA (~$627) and the 50-day SMA (~$603).
- Solana (SOL): Recently broke $180 but pulled back below; a bounce from the 20-day EMA (~$159) could target $210, while a drop below EMA signals potential fall to $153.
- Dogecoin (DOGE): Bounced from $0.21 breakout level; a rise beyond $0.26 might lead to $0.28 and $0.31 targets. Support near the 20-day EMA ($0.20) and strong support at the 50-day SMA ($0.17).
- Cardano (ADA): Buying on dips at neckline support with prospects to break above $0.86 and target $1.01. A drop below neckline risks slide to 50-day SMA at $0.68.
- Sui (SUI): Trading between $3.90 and $4.25; an upside breakout could reach $5. Difficulty clearing resistance between $5 and all-time high $5.37 is anticipated. Downside support at 20-day EMA around $3.57.
- Chainlink (LINK): Faces resistance but bulls hold ground. 20-day EMA at $15.43 and RSI near overbought suggest upward momentum. Break above resistance targets $21.30; support at 50-day SMA $13.96.
- Avalanche (AVAX): Bounced off $23.50 support with minor resistance near $28.78. Breaching resistance could lead to $31.73 and $36. Support at 20-day EMA $22.63 and downside risk to $19 if broken.
The market overall shows positive momentum with a total crypto valuation of $3.36 trillion and indicators reaching greed territory. While the bull run may face near-term resistance and profit-taking, analysts are optimistic about a continuation in the upward trend for Bitcoin and major altcoins.