Key points:
– Bitcoin rebounded sharply from around $60,000, opening a potential retest of the $74,508 breakdown level.
– Several major altcoins have begun relief rallies but are likely to meet selling pressure at their moving averages.
Bitcoin recovered above $69,000 after plunging to $60,000, showing solid buying at lower levels. The drop dented sentiment—the Crypto Fear & Greed Index fell to 9, the lowest since June 2022. Veteran trader Peter Brandt noted the decline had “fingerprints of campaign selling, not retail liquidation,” and said it’s hard to know when that pattern ends. Conversely, analyst Subu Trade pointed out the weekly RSI fell below 30, an event that historically preceded an average one-month gain for BTC.
Could BTC and major altcoins sustain a relief rally? Chart-by-chart analysis of the top 10 coins follows.
Bitcoin price outlook
BTC closed below the key $74,508 level before sliding to $60,000. The RSI is deep in oversold territory, suggesting the recent selling may be overdone and a short-term bounce is likely. Upside resistance sits at $74,508; bears aim to keep that level as resistance and push BTC back to $60,000. A close above $74,508 would be the first sign of strength and could target the 20-day EMA near $80,899.
Ether price outlook
ETH dropped under $2,111 and reached $1,750. Bulls are attempting a recovery from $1,750 but face significant selling at $2,111. A rejection there would signal continued bearish control and raise the risk of a break below $1,750 toward $1,537. A decisive move above $2,111 would suggest bears are losing grip and could push ETH toward the 20-day EMA (~$2,569).
BNB price outlook
BNB fell under $730 and touched $570. The RSI is deep oversold, so a bounce is possible, but a weak rebound raises the chance of a break below $570 to $500. Bulls need to push BNB above $730 quickly to signal strength; a sustained break above could aim for the 20-day EMA around $798.
XRP price outlook
XRP broke below a descending channel and prior low near $1.25 but buyers pushed it back into the channel. XRP may rally to the 20-day EMA (~$1.71), likely attracting sellers. A rejection there keeps downside risk intact, while a clear move above the 20-day EMA could target the downtrend line.
Solana price outlook
SOL dropped under $95 to $67.50, pulling RSI into oversold territory and improving the odds of a short-term recovery to $95, where sellers are expected. A sharp turn down from $95 increases the risk of a renewed break below $67.50. A close above $95 would open a move to the 20-day EMA (~$110).
Dogecoin price outlook
DOGE slipped below the psychological $0.10 level and is attempting to bounce from $0.08. The 20-day EMA (~$0.11) is likely resistance; a rejection could push DOGE toward $0.07. If DOGE clears the moving averages, it could aim for the next stiff resistance at $0.16.
Cardano price outlook
ADA was pushed below a descending channel support line, but the candlestick’s long tail shows buying. If ADA holds above the channel support, bulls may try to reach the 20-day EMA (~$0.32), where sellers will likely defend. A failure there could send ADA to $0.20 then $0.15. A close above the 20-day EMA would suggest the break was a bear trap and could challenge the downtrend line.
Bitcoin Cash price outlook
BCH turned down from the 20-day EMA (~$547) and slipped below $443, though buying appeared at lower levels. If it sustains above $443, BCH could climb back to the 20-day EMA, which bears are expected to defend aggressively. A close below $443 would likely start the next down leg toward $380.
Hyperliquid price outlook
HYPE is facing resistance at $35.50 but bulls haven’t ceded much ground. The 20-day EMA (~$29.78) is rising and RSI is positive, favoring buyers. A bounce from current levels or the EMA could see HYPE clear $35.50 and run to $44. A break below the 20-day EMA would suggest consolidation between $35.50 and $20.82.
Monero price outlook
XMR collapsed below $360. Bulls are attempting a relief rally, but the 38.2% Fibonacci retracement near $361 is likely resistance. A rejection there would keep bearish momentum alive; a break of $276 would open a drop toward $231. Conversely, a rise above $361 could target the 50% retracement at $388 and the 20-day EMA near $432.
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. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
