As we enter the middle of the week in the cryptocurrency markets, Bitcoin’s fall below the 80 thousand dollar level and the ongoing sales wave in major altcoins have redefined the balances. Despite short-term pullbacks in the market, some analysts remain positive for Bitcoin.
Critical levels and analyst predictions in Bitcoin
Bitcoin, which started the week with a rapid retreat, fell below 80 thousand dollars, causing short-term panic in investors. According to CryptoAppsy data, BTC is stabilizing around the 20-day exponential moving average at $79,092, and this level is important support in the short term. Analyst CRG pointed out that Bitcoin never rose above the Ichimoku cloud in the previous bear market, and stated that in the current situation, there is a permanent movement above the cloud and therefore it cannot be fully compared with the previous cycle.
Prominent names such as Arthur Hayes expect Bitcoin to gain strength. Hayes stated that when Bitcoin exceeds 90 thousand dollars, those who open short positions will try to cover their losses and the price may accelerate and bring the 126 thousand dollar target back to the agenda. He also expressed the opinion that the artificial intelligence competition between the USA and China and the war with Iran may have a positive impact on the crypto ecosystem by increasing the money supply.
On the other hand, not all market players share this positive picture. A Bitcoin whale using the name ‘pension-usdt.eth’ reportedly maintained an open position of 1,000 BTC worth $81 million with 3x leverage, and the position was opened when Bitcoin was at $67,990. This investor explained in X that he continued the position even though he had a loss of nearly 13 million dollars.
Latest situation on Ethereum, BNB and major altcoins
In Ethereum, around the 50-day simple moving average at $2,245, upward attempts are met with sales in the short term. The first signal of strength for ETH may come with a sustained close above the $2,465 resistance. If this happens, the price is expected to accelerate to $3,050 respectively. Otherwise, the possibility of a fall to the channel support and a loss of value up to $1,916 remains on the agenda.
Binance Coin, on the other hand, rose with a reaction from the 20-day average of $ 643 and tested the important resistance of $ 687. If there are closings above this level, the price is expected to target $ 730 and then $ 790 with new records. If the sellers step in, horizontal movements can be observed in the range of 570-687 dollars for a while.
A tight squeeze continues in XRP. While the price has been searching for direction between the upper trend line of the falling channel and the moving averages in recent days, a rapid move to $ 1.61 can be seen in case of an upward break. If this resistance is overcome, the target will be $2.40. However, a close below the averages could see the price drop to $1.27 as buyers pull back.
Prominent technical levels in major altcoins
Despite the sell-off for Solana from the $98 resistance, upward attacks from the $89 20-day average continue. Traders expect a possible move to $106 and then to $117 if the price tests $98 again. However, breaking this support means more horizontal movement in SOL/USD between $76-98 for a while.
In Dogecoin, buyers stepped in at the $0.10 moving average area and tried to push the price up. However, if the strong resistance at $0.12 cannot be overcome, it is possible that DOGE/USD will remain in the $0.09-0.12 band for a while. Otherwise, if success is achieved, the rise may continue rapidly up to $0.16.
Hyperliquid’s fall below the $40.55 average indicates that short-term profit taking is effective. Below $38.70, there is a short-term decline potential towards $34.45. Buyers may encounter intense selling in reaction attempts, especially at $41.56 and $43.76-45.77 bands. The positive outlook can only strengthen above the resistance at $45.77, and if this target is crossed, the price is possible to climb to $50.
In Cardano, the $0.26 average acts as resistance, indicating that the sellers’ influence continues. It is stated that if the price can exceed $0.29 and then $0.31, the upward movement will continue up to $0.40. If the weakness continues, it can be observed that the search for a bottom continues in the range of $ 0.22-0.31.
Zcash investors point out that downside risk remains despite the weak reaction from the $560 support. If this level cannot be maintained; The price may first decline to the average at $481 and then to $400. However, if the price recovers again and can rise above $643, it may gain upward momentum towards the $750 target.
Bitcoin Cash, on the other hand, fell below the $443 support, showing the weight of sellers. While strong buyer entry is expected at $419, below this level could trigger a fresh decline extending to $375. If the price recovers sharply and breaks the averages, horizontal consolidation may continue for a while; A close above $486 will indicate a new rally supporting buyers.
Arthur Hayes argued that the acceleration in the BTC price would come by exceeding $ 90 thousand and that the level of $ 126 thousand was inevitable; He also believes that macroeconomic developments may have a positive impact on the crypto market.
