INSUBCONTINENT EXCLUSIVE:
pulled ETH, XRP, SOL, and HYPE below their respective support levels.Bitcoin (BTC) nosedived below the psychological $100,000 support on
weakness has spread to several major altcoins, which have entered a deeper correction by breaking below their respective support levels
This suggests the sentiment has soured, and traders are taking risk off the table.Crypto market data daily view
Source: Coin360However, a positive sign is that analysts remain bullish on Bitcoin for the long term
Real Vision CEO Raoul Pal said in a recent video that the current crypto cycle resembles the pattern seen in 2017
simple moving average ($104,788) on Friday and the $100,000 support on Sunday.BTC/USDT daily chart
Source: Cointelegraph/TradingViewThe moving averages are on the verge of a bearish crossover, and the relative strength index (RSI) is in
the negative territory, indicating that bears are in control
If the price maintains below $100,000, the selling could intensify, pulling the BTC/USDT pair to $93,000.Buyers will have to push the price
above the 20-day exponential moving average ($104,616) to prevent the downside in the near term
The pair could then rise to the downtrend line, which is likely to pose a substantial challenge for the bulls.BTC/USDT 4-hour chart
Source: Cointelegraph/TradingViewThe pair completed a bearish descending triangle pattern on a close below the $100,700 level
The pattern target of the negative setup is $89,420, but the bulls are unlikely to give up easily.Buyers will try to start a relief rally,
which could face selling at $100,700 and then at the 20-EMA
price above the 50-SMA to start a meaningful recovery.Ether price predictionEther (ETH) turned down from the 20-day EMA ($2,487) and fell
below the 50-day SMA ($2,481) on Friday.ETH/USDT daily chart
Source: Cointelegraph/TradingViewSelling continued on Saturday, and the ETH/USDT pair broke below the $2,323 support
Buyers tried to push the price back above the breakdown level of $2,323, but renewed selling by the bears has pulled the pair near the
The bulls will try to defend the $2,111 level with all their might because a break below it may sink the pair to $1,754.If the price
rebounds off $2,111, the bulls will have to push the pair back above the 20-day EMA to suggest that the near-term correction may have
ended.ETH/USDT 4-hour chart
Source: Cointelegraph/TradingViewThe pair could find support at the $2,111 level, but the rebound is expected to face strong selling at the
breakdown level of $2,323
If the price turns down sharply from $2,323, the bears will again try to sink the pair below $2,111.Conversely, if the bulls successfully
defend the $2,111 level, the pair could form a range in the near term
The pair may swing between $2,111 and $2,323 for some time
Source: Cointelegraph/TradingViewIf the price sustains below $2, the XRP/USDT pair could tumble to the $1.61 support
Buyers are expected to vigorously defend the $1.61 level because a break below it may start a collapse to $1.28.The bulls will have to
swiftly push the price back above the breakdown level of $2 to prevent a breakdown
The pair could then rise to the moving averages, where the bears are likely to pose a strong challenge.XRP/USDT 4-hour chart
Source: Cointelegraph/TradingViewThe bulls tried to start a bounce off the $2 support, but the bears aggressively sold near the 20-EMA on
The price turned down and broke below the $2 support, pulling the RSI into the oversold territory
That suggests a relief rally is possible in the short term.On the upside, the bears may sell the recovery attempt at $2 and above that at
If the price turns down sharply from the overhead resistance, the pair risks a further downside
price predictionSolana (SOL) completed a bearish H&S pattern when the price closed below the $140 support on Saturday.SOL/USDT daily chart
Source: Cointelegraph/TradingViewThe bulls will try to start a recovery but may face selling at the 20-day EMA ($148)
If the price turns down from the 20-day EMA, the SOL/USDT pair could plunge to the $110 support and eventually to the pattern target of
$93.Conversely, a break and close above the 20-day EMA suggests solid demand at lower levels
The pair could rise to the 50-day SMA ($160), which is likely to behave as a strong obstacle.SOL/USDT 4-hour chart
Source: Cointelegraph/TradingViewThe downsloping moving averages signal that bears are in command, but the oversold level on the RSI points
to a possible relief rally in the near term
Recovery attempts could face selling at the breakdown level of $140
If the price turns down from $140, the bears will try to resume the downward move.Buyers will have to push and maintain the price above the
50-SMA to signal a comeback
That opens the doors for a relief rally to $149 and thereafter to $158.Hyperliquid price predictionRepeated failures to maintain the price
above $42.50 started a sharp correction in Hyperliquid (HYPE), signaling that the bulls are hurrying to book profits.HYPE/USDT daily chart
Source: Cointelegraph/TradingViewThe bulls held the 50-day SMA ($32.26) on Saturday, but the bounce has been sold into
That increases the possibility of a break below the 50-day SMA
The HYPE/USDT pair could descend to the breakout level of $28.50.Buyers are likely to have other plans
They will try to defend the 50-day SMA and push the price back above the 20-day EMA
Source: Cointelegraph/TradingViewBoth moving averages are sloping down, and the RSI is in the negative zone on the 4-hour chart
Pullbacks to the 20-EMA are likely to be sold into
There is minor support at $30.50, but it could be broken
The pair may then plummet to the solid support at $28.50.The first sign of strength will be a break and close above the 20-EMA
That suggests the bears are losing their grip
The pair may ascend to the 50-SMA, which could again attract sellers.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.
