For the first time in seven years, Bitcoin is at risk of ending October in the red. Several altcoins have dropped to their crucial support levels, indicating selling on rallies. Bitcoin (BTC) bulls are attempting to maintain the price above $110,000, but the bears have continued to exert pressure. This increases the risk of BTC recording its first-ever red October close in seven years.
After October’s dismal performance, all eyes are on November, which has an average return of 46.02%, according to CoinGlass data. Several analysts are turning bearish on BTC, signaling a potential cycle peak based on its four-year halving cycle. However, a few others, such as BitMEX’s Arthur Hayes, believe that BTC’s four-year cycle is dead.
It is difficult to predict with certainty whether the four-year cycle is over or not. Still, the net outflows of $959.1 million from spot BTC exchange-traded funds in the past two days, according to Farside Investors’ data, indicate that institutional investors are cautious in the near term.
### What Are the Crucial Support Levels to Watch for in BTC and Major Altcoins?
Let’s analyze the charts of the top 10 cryptocurrencies to find out.
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## Bitcoin Price Prediction
Bitcoin bounced off the bottom of the range near $107,000 on Thursday, indicating that bulls are aggressively defending this level. The relief rally is expected to face selling pressure at the 20-day exponential moving average (EMA) of $111,557.
If the price turns down sharply from the 20-day EMA, it increases the likelihood of a break below $107,000. Should that happen, the BTC/USDT pair will complete a double-top pattern and may dive to $100,000.
Conversely, a break and close above the 20-day EMA suggests that Bitcoin may remain inside the $107,000 to $126,199 range for a while longer.
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## Ether Price Prediction
Ether (ETH) bounced off the support line of the descending channel pattern on Thursday, signaling buying at lower levels. However, the recovery could face selling at the moving averages.
If that happens, bears will again attempt to push ETH below the support line, which could cause the ETH/USDT pair to plummet to $3,350.
Buyers will need to push the price above the moving averages to keep the pair inside the channel. The next leg of the up move is likely to begin on a break and close above the channel’s resistance line.
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## BNB Price Prediction
BNB is witnessing a tough battle between bulls and bears at the 50-day simple moving average (SMA) of $1,084. If the price turns down from the 20-day EMA ($1,113) and closes below the 50-day SMA, it would signal the start of a deeper correction.
In that scenario, the BNB/USDT pair could drop to $1,021 and later to $932.
On the contrary, a close above the 20-day EMA suggests that bulls are attempting a comeback. The price could then rally to the 38.2% Fibonacci retracement level of $1,156, which might attract sellers.
A close above $1,156 would clear the path for a rally to the 61.8% retracement level at $1,239.
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## XRP Price Prediction
XRP fell below the 20-day EMA ($2.54) on Thursday, signaling that bears are trying to retain the advantage.
Sellers will try to strengthen their position by pulling XRP toward the $2.32 to $2.19 support zone. Buyers are expected to defend this zone vigorously, as a close below it could intensify selling pressure, potentially causing the XRP/USDT pair to plunge to $1.90.
Time is running out for bulls, who will need to swiftly push the price above the moving averages to gain strength. A potential trend change will be signaled on a close above the downtrend line.
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## Solana Price Prediction
Solana (SOL) has been trading inside a symmetrical triangle pattern, indicating indecision about the next directional move.
If the price slips below the uptrend line, the SOL/USDT pair could tumble to solid support at $155. Buyers are expected to defend this level strongly, but a break below $155 may sink the pair to $140.
Conversely, if the price rebounds from the uptrend line and breaks above the 20-day EMA ($194), it suggests the pair may remain inside the triangle longer. Buyers will regain control after pushing Solana above the resistance line.
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## Dogecoin Price Prediction
Buyers are attempting to hold Dogecoin (DOGE) above the $0.17 support level, but the shallow bounce indicates bears continue to exert pressure.
If the $0.17 support cracks, the DOGE/USDT pair could descend to the $0.14 support. Buyers will try to keep DOGE inside the range by defending this level. However, failure to do so could open the door for a drop to $0.10.
The first sign of strength for DOGE would be a break and close above the $0.21 overhead resistance. The pair may then climb to the 50-day SMA ($0.22) and later attempt a rally to stiff overhead resistance at $0.29.
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## Cardano Price Prediction
Cardano (ADA) continued lower and broke below the $0.59 support on Thursday, signaling bears remain in control.
If the price stays below $0.59, the ADA/USDT pair could plunge to solid support at $0.50. Buyers are expected to fiercely defend $0.50, as a drop below it may trigger a new downtrend.
On the upside, a break and close above the 20-day EMA ($0.66) would indicate bears are losing grip. The price could then climb to the breakdown level of $0.75 and subsequently to the downtrend line.
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## Hyperliquid Price Prediction
Sellers again thwarted bulls’ attempts to push Hyperliquid (HYPE) above the $51.50 overhead resistance on Thursday, pulling the price down to the 20-day EMA ($43.10).
Buyers are trying to defend the 20-day EMA, but selling pressure remains high. If the price breaks below this EMA, the HYPE/USDT pair could drop to the neckline and then to $35.50.
This negative outlook will be invalidated if Hyperliquid turns up and breaks above $51.50, potentially surging to the all-time high of $59.41.
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## Chainlink Price Prediction
Buyers tried to push Chainlink (LINK) above the 20-day EMA ($18.24) on Wednesday, but bears held their ground.
The downsloping moving averages and a relative strength index (RSI) in negative territory suggest bears remain in control.
The LINK price could then plummet to the $15.43 support, where bulls are expected to step in.
Buyers will need to push and sustain price above the 20-day EMA to signal strength. The LINK/USDT pair could then climb to the resistance line, a critical level to watch.
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## Bitcoin Cash Price Prediction
Bitcoin Cash (BCH) has been stuck between the 20-day EMA ($530) and the resistance line for the past few days.
Bulls need to push and maintain BCH above the resistance line to signal a potential trend change.
The BCH/USDT pair could then rally to $615 and later to $651.
Alternatively, if the price turns down and breaks below the 20-day EMA, the pair may remain inside the falling wedge pattern for a few more days.
In that case, BCH could slide to $500 and then to $475.
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**Disclaimer:** 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 decisions.
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