Key Points:
Bitcoin could witness wild moves following the Federal Reserve’s fee decision, but prices can remain in the large $107,000 to $124,474 range for too long.
Several altcoins except BNB have been pulled back, indicating that traders are taking risks from the table before today’s FOMC.
Bitcoin (BTC) is facing sales of nearly $117,500, but the positive sign is that the Bulls are trying to maintain prices above $115,500. The cryptocurrency market could witness an increase in volatility following the Federal Open Market Committee’s interest rate decision on Wednesday.
The CME FedWatch tool shows a 94% chance of a 25 bps rate reduction, with the other 6% predicting a 50 bps rate reduction. Analysts are split on BTC’s short-term price action. Crypto analyst Jelle said in a post on X that BTC can gradually crush higher towards the highest ever. Meanwhile, Crypto analyst Ted said in a post on X that BTC could be dumped at $104,000 or even $92,000.
Bitmine’s chairman Tom Lee, co-founder of FundStrat and chairman of Bitmine, told CNBC that BTC and Ether (ETH) “will be able to move monsters in the next three months.” He said that with strong seasonality, long pauses could promote crypto rallies in BTC and ETH, will cut the Fed’s first rate cut.
What are the important support and resistance levels to be aware of in BTC and major altcoins? Analyze and explore the charts of the top 10 cryptocurrencies.
Bitcoin price forecast
BTC has been oscillated between the 50-day simple moving average ($114,320) and overhead resistance over the past few days.
The 20-day exponential moving average ($113,919) and relative strength index (RSI) in the positive region increase the likelihood of breaks above $117,500. In that case, the BTC/USDT pair could rise to $120,000 and later rise to $124,474.
This optimism can be denied in the near future if prices below the 20-day EMA slip. This suggests that Bitcoin prices could remain in the range of $107,000 to $117,500 for a long time. The Bears will return to the driver’s seat near under $107,000.
Ether Price Prediction
The ether was pulled back to a 20-day EMA ($4,450). This could serve as a strong support.
If prices rise sharply from the 20-day EMA, it shows a solid purchase at dip. The Bulls will try to propel ETH/USDT pairs beyond the overhead resistance zone of $4,770 to $4,957. If they can pull it out, the ether price could skyrocket to $5,500. There is a $5,000 psychological resistance, but it can cross.
Conversely, if the price falls below the 20-day EMA, your next destination is a 50-day SMA ($4,288), and then $4,060. The Bears will have the advantage in falling below the $4,060 support.
XRP Price Forecast
Buyers are trying to keep their XRP (XRP) above the moving average, but they are struggling to start a solid bounce.
Sellers will try to strengthen their position by withdrawing prices below the 20-day EMA ($2.97). If they can do that, the XRP/USDT pair could fall to solid support at $2.73. Buyers are expected to be able to defend the $2.73 level vigorously as a pattern of descending triangles is completed near it. The XRP price could plummet to $2.20.
Alternatively, if prices rise from current levels and rise above $3.20, it suggests that the Bulls are in control. The pair may then march towards $3.40.
BNB Price Prediction
BNB (BNB) continues March towards a psychological level of $1,000, indicating that the Bulls are in good control.
Sellers try to stop the UP movement as the price approaches the $1,000 level. Along the way, the Bears need to stiffen their BNB prices below the 20-day EMA ($897) and weaken their bullish momentum. Doing that could result in a fall into a 50-day SMA ($847).
Instead, if the buyer does not allow prices below the 20-day EMA to break, it suggests solid demand at a lower level. This brings the outlook for a reopening of the uptrend to $1,090.
Solana price forecast
Solana (Sol)’s shallow pullback suggests that the bull is not rushing to the exit as the Bulls expect another leg higher.
A 20-day EMA ($220) is an important support to keep an eye on the shortcomings. If the price rises from the current level or uptrend line, it indicates positive sentiment. This brings the chances of a rally to $260 and is expected to involve the bears.
Conversely, rest and closure under the 20-day EMA indicates that the bull is closing his position. The Sol/USDT pair could fall to a 50-day SMA ($197). Buyers try to protect the 50-day SMA. Because the break below could potentially sink Solana’s price to $173.
Dogecoin price forecast
Dogecoin’s (Doge) Pullback is about to receive support at the $0.26 level, but it has been suggested that there will be no offensive purchases by the Bull as it has failed to launch a strong bounce.
A 20-day EMA ($0.24) is an important level of attention to the drawbacks. If the price rebounds the 20-day EMA with strength, the Bulls will try to stab a Doge/USDT pair that is over $0.31 again. If they succeed, Dogecoin’s price could skyrocket to $0.35, then $0.44.
On the contrary, if the price falls below the 20-day EMA, the pair can descend to a 50-day SMA ($0.22) and then descend to solid support for $0.21.
Cardano price forecast
Cardano (ADA) continues to trade within a symmetrical triangular pattern, indicating uncertainty regarding movements in the next direction.
Flattish 20-day EMA ($0.86) and RSI near the midpoint do not give Bulls or Bears any clear advantages. It suggests that the Bulls have given up if the price continues to fall and breaks under the support line. This allows you to drag the ADA/USDT pair to $0.68.
When they catapult the price of Cardano over the line of resistance, the advantages in favor of the bull lean. The pair then went up to $1.02 and then $1.17. Sellers are expected to boldly defend the $1.17 to $1.25 zone.
Related: Ethereum staking queues become “parabolic”: What does price mean?
High lipid price forecast
Hyperliquid pullbacks have found support near the 20-day EMA ($51.05) and show purchases at dip.
The Bulls try to resume the uptrend by driving the hype/USDT pair beyond the $57.44 resistance. If they can pull it out, the price of high lipids could surge towards a pattern goal of $64.25.
Contrary to this assumption, it suggests that if prices drop and fall below the $49.88 support, the Bulls are rushing to the exit. The pair could then plummet to a 50-day SMA ($45.74).
Chain Link Price Prediction
ChainLink (Link) Recovery flares up at $25.64 on Saturday, indicating that the bears are active at a higher level.
Sellers are looking to raise prices below critical support at a 50-day SMA ($22.40). Buyers are expected to be fiercely defending the zone between the 50-day SMA and the uptrend line.
If the price bounces out of the support zone, the Bulls will try to drive the chain link price above the downtrend line. If they can pull it apart, the pair could be $25.64 and then $27. Buyers could face big sales between $27 and $27.84 in the zone.
SUI price forecast
SUI (SUI) thrusts a poor trend line on Saturday, but the Bears pulled back prices on Sunday by falling below breakout levels.
The Bulls are trying to arrest pullbacks on the moving average, but the bears are maintaining sales pressure. If the price falls below $3.45, the SUI/USDT pair could drop to solid support at $3.26. Sales accelerate at under $3.11, lowering the gate to $2.80 and opening.
Buyers should promote SUI prices above $3.89 to show that the bear is losing its grip. The pair can then rally to $4.18.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
