Bitcoin is about to hit a new high, will alt season come?

Author: White55, Mars Finance

With the ceasefire between Iran and Israel and the new highs in the US stock market, the continued buying by institutions has led to a record net inflow of Bitcoin last week, which may drive Bitcoin to start a new upward trend and reach historical highs. Bitcoin rose over 6% last week, indicating strong buying around the $100,000 mark. Bulls are trying to consolidate their advantage by maintaining prices above $108,000.

However, it is worth noting that liquidity on weekends is usually lower, and breakthroughs should be viewed with caution. Sellers will return on Monday and will strive to keep the price within the range of $100,000 to $111,980.

The strength of Bitcoin has sparked buying interest in several altcoins, which have rebounded from their respective support levels. If Bitcoin reaches a new all-time high, some altcoins will attempt to break through upper resistance levels, continuing their rebound momentum.

Bitcoin price prediction

Bitcoin has been trading between the moving average and the downtrend line. Buyers are attempting to push the price above the downtrend line, but the bears are holding their ground.

BTC/USDT daily chart. Source: TradingView

The moving average is gradually rising, and the Relative Strength Index (RSI) is in the positive zone, indicating that bulls have a slight advantage. If the bulls push the price to break above the downward trend line, the BTC/USDT currency pair could surge to $110,530, followed by a further rise to $111,980.

The seller is expected to pose a strong challenge in the area between the downward trend line and the neckline of the head and shoulders pattern. However, if the buyer forcefully breaks through, the currency pair could soar to $150,492.

If the price bounces back from the descending trend line and breaks below the moving average, this optimistic view will be negated in the short term. This will open the door for the price to drop to $102,500 and then further down to $100,000.

BTC/USDT 4-hour chart. Source: TradingView

The currency pair has rebounded from the 20-day moving average, but the bulls have failed to break above the descending trendline resistance. If the price continues to decline and breaks below the 20-day moving average, it indicates that the bulls are losing control. The currency pair may then drop to the 50-day simple moving average, which is a key level to watch. A break below the 50-day moving average could accelerate selling, pushing the currency pair towards 100,000.

On the positive side, bulls must push the price and maintain it above the downtrend line to send a strong signal.

HYPE price prediction

Hyperliquid (HYPE) fell below the 20-day moving average on Thursday at (37.14 USD), but the bears failed to hold the lower levels. This indicates that there is buying pressure at each slight dip.

HYPE/USDT daily chart. Source: TradingView

The bulls pushed the price back above the 20-day moving average on Saturday. The resistance level is at $39.12, but if the bulls break through this resistance, the HYPE/USDT pair could soar to $42.50. Buyers are expected to face significant resistance in the range of $42.50 to $45.80.

On the contrary, if the price drops and falls below the 20-day moving average, it indicates that bears are active at higher levels. The currency pair may subsequently fall to the 50-day moving average ($34.42). If it breaks below and closes under the 50-day moving average, it could drop to $30.69.

HYPE/USDT 4-hour chart. Source: TradingView

The currency pair is finding support at the 50 moving average (SMA), and the bulls are trying to push the price up to the recent resistance level of $39.12. If successful in breaking through, the currency pair could rise to $41, and then to $42.50.

On the downside, the first support level is the 20-day moving average, followed by the 50-day moving average. A break below the moving averages indicates a weakening bullish momentum. The currency pair may fall to $33.25 and then to the solid support level of $30.69.

BCH price prediction

Bitcoin Cash is facing selling pressure at the $500 level, but a positive sign is that the bulls are not giving too much ground to the bears.

BCH/USDT daily chart. Source: TradingView

The upward-sloping moving average and the RSI indicator in the positive territory indicate that the bulls are in control. This increases the likelihood of a breakout above $500. If a breakout occurs, the BCH/USDT pair could soar to $550. Bears will attempt to halt the rise near $550, but if the bulls prevail, the pair may reach $625.

On the downside, the first support level is at the 20-day moving average ($464), followed by the 50-day moving average ($430). A drop below the 50-day moving average signifies the bears returning to the market.

BCH/USDT 4-hour chart. Source: TradingView

The bulls are trying to keep the price above the 20-day moving average on the 4-hour chart. If successful, the currency pair may break through the resistance level of 500 dollars again. Upward momentum could further increase above 511 dollars.

On the contrary, if the price falls below and stays below the 20-day moving average, it indicates that the bulls are taking profits. This could lead the currency pair to drop to the 50-day moving average, where bulls may enter.

Chainlink price prediction

Chainlink has been holding the 20-day EMA ($13.27) for the past few days, indicating that the bulls are maintaining pressure.

LINK/USDT daily chart. Source: TradingView

If the price breaks through and stays above the 20-day moving average, the LINK/USDT pair may rise to the 50-day moving average ($14.43). Bears are expected to defend the 50-day moving average vigorously, as a breakout above this average could indicate a change in trend. Subsequently, the pair could climb to $18.

On the contrary, if the price drops significantly from the current level or the 50-day moving average, it indicates that bears are selling on rallies. A drop below $12.73 could keep the currency pair within a downward channel for a period of time.

LINK/USDT 4-hour chart. Source: TradingView

Bulls are trying to push the price up to the resistance line, but bears are actively defending the level of $13.50. If the price drops and falls below the 20-day moving average, it indicates a lack of demand at higher levels. The currency pair may then drop to the 50-day moving average.

On the contrary, the significant rebound of the 20-day moving average indicates an optimistic market sentiment. The currency pair may rise to the resistance line, which is a key level that needs attention. If the price breaks through the resistance line, the currency pair may advance towards $15.50.

Sei price prediction

On Monday, Sei broke through the 50-day moving average at (0.21 USD), gaining momentum and breaking through the resistance level of 0.29 USD on Tuesday.

SEI/USDT daily chart. Source: TradingView

However, buyers failed to maintain the high level, and the price dropped below $0.29 on Wednesday. The bullish signs are that they pushed the price back above $0.29. The 20-day moving average ( $0.23 ) has begun to rise, and the RSI is in the positive zone, indicating that the path of least resistance is upward. The SEI/USDT currency pair may rise to $0.35, and then possibly to $0.43.

If the price falls and breaks below the 20-day moving average, this optimistic view will become invalid in the short term. This may pull the currency pair down to $0.19, and then further down to $0.15.

SEI/USDT 4-hour chart. Source: TradingView

Both moving averages are trending upwards, and the RSI is in the positive territory, indicating that buyers are in favor. If the price maintains above $0.30, this currency pair could rise to $0.33.

Sellers may have other plans. They will try to push the price below the 20-day moving average. If they succeed in doing this, the currency pair could drop to $0.27, and then further down to the 50-day moving average. Buyers are expected to firmly defend the 50-day moving average, as further pullbacks could delay the recovery of the upward trend.