Bitcoin, Altcoins Turn Down As Traders Cut Positions, Evade Risk

Key points:

• Bitcoin’s recovery is expected to face selling near $69,000, but if the bulls prevail, a rally to $74,508 is possible.

• Most major altcoins remain below their resistance levels, indicating that the bears continue to exert pressure.

Bitcoin (BTC) rose above $68,000, but the bulls are struggling to sustain the higher levels. Sellers are expected to exert pressure to achieve a negative monthly close in March. That will result in six consecutive months of losses for the first time since the 2018 bear market. 

Analysts remain increasingly bearish on BTC’s prospects in the short term. Analyst Willy Woo said in a post on X that BTC may bottom between $46,000 and $54,000 according to various on-chain models.

The deeper the fall from the all-time high, the longer it is likely for BTC to take to record a new all-time high. According to an Ecoinometrics’ model, if BTC holds the $60,000 low, a full recovery is expected to happen in roughly 300 days from the October 2025 peak of $126,000. About 175 days have passed since BTC’s all-time high, leaving around 125 days for the full recovery to happen. If BTC falls to the $40,000 to $45,000 range, the recovery may stretch further into Q2 2027, as every 10% drawdown adds 80 days to the recovery duration. 

Will buyers be able overcome the resistance levels in BTC and the major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out. 

S&P 500 Index price prediction

The S&P 500 Index (SPX) turned down from the 20-day exponential moving average (6,620) on Wednesday, indicating that bears remain in command.

Sellers will attempt to sink the price to the 6,147 level, which is likely to attract solid buying by the bulls. A bounce off the 6,147 level may face selling at the 20-day EMA. If the price turns down sharply from the 20-day EMA, the bears will again attempt to sink the index below the 6,147 level. If they succeed, the next stop may be the 5,943 level.

On the other hand, a break and close above the 20-day EMA suggests that the bears are losing their grip. The index may then rally to the 50-day simple moving average (6,803).

US Dollar Index price prediction

The US Dollar Index (DXY) bounced off the 20-day EMA (99.40) on Wednesday, signaling a positive sentiment.

Buyers will attempt to strengthen their position by maintaining the price above the 100.54 overhead resistance. If they manage to do that, the index may start a new up move to the 102 level and later to the 103.54 level.

Time is running out for the bears. They will have to defend the 100.54 level and swiftly pull the price below the 20-day EMA to weaken the bullish momentum. The price may then slump to the 50-day SMA (98.25).

Bitcoin price prediction

BTC closed below the support line of the ascending triangle pattern on Sunday, but the bears could not sustain the lower levels.

The bulls have pushed the BTC price back above the support line and are attempting to pierce the moving averages. If they succeed, it suggests that the break below the support line may have been a bear trap. The BTC/USDT pair may rally to the $74,508 to $76,000 resistance zone.

To retain the advantage, sellers will have to successfully defend the moving averages and swiftly pull the price below the $65,000 level. That clears the path for a drop to the $62,500 to $60,000 support zone.

Ether price prediction

Ether (ETH) closed below the 50-day SMA ($2,040) on Friday, but the bears could not sink the price below the $1,916 support.

The bulls are attempting to push the ETH price above the moving averages and get back into the game. If they can pull it off, the possibility of a rally to $2,400 increases. Sellers will attempt to halt the up move at $2,400, but if the buyers bulldoze their way through, the next stop may be $2,600.

This positive view will be negated in the near term if the ETH/USDT pair turns down and breaks below the $1,916 level. That opens the doors for a drop to the $1,750 support.

BNB price prediction

BNB (BNB) has been trading below the moving averages, but the bears could not pull the price to the $570 support.

The bulls are attempting to start a recovery, which is expected to face resistance at the moving averages. If the BNB price turns down from the moving averages, the risk of a drop to $570 increases.

Contrarily, a close above the moving averages suggests that the BNB/USDT pair may remain inside the $570 to $687 range for some more time. Buyers will be back in the driver’s seat on a close above the $687 resistance.

XRP price prediction

XRP (XRP) remains below the moving averages, indicating that the bears continue to exert pressure.

The gradually downsloping moving averages and the RSI in the negative territory indicate that the bears have the upper hand. Buyers will attempt to defend the $1.27 level, but if the support cracks, the XRP/USDT pair may descend to $1.11.

Contrary to this assumption, if the XRP price turns up sharply and breaks above the moving averages, it suggests that selling dries up at lower levels. The pair may then march toward the $1.61 level.

Solana price prediction

Solana (SOL) remains stuck inside the $76 to $95 range, indicating a balance between supply and demand.

The flattish moving averages and the RSI just below the midpoint do not give a clear edge either to the bulls or the bears. Buyers will have to shove the SOL price above the $95 resistance to start a rally to the $117 level.

On the contrary, a break and close below the $76 level tilts the advantage in favor of the bears. The SOL/USDT pair may then retest the Feb. 6 low of $67.

Related: Bitcoin analysis says $65K ‘entry zone’ with oil back above $100

Dogecoin price prediction

Buyers have managed to maintain Dogecoin (DOGE) above the $0.09 support but are struggling to start a strong rebound.

That suggests the bears are selling on every minor relief rally to the moving averages. If the DOGE price again turns down from the moving averages, it increases the risk of a break below the $0.09 support. The DOGE/USDT pair may then plunge to the $0.08 level.

Instead, if the price continues higher and breaks above the moving averages, it signals that the bulls remain buyers near the $0.09 level. The pair may then rally to $0.11 and subsequently to $0.12.

Cardano price prediction

Cardano (ADA) closed below the $0.25 support on Friday, indicating that the bears are in control.

Buyers are trying to push the ADA price back above the $0.25 level, but the bears have held their ground. That suggests the sellers are attempting to flip the $0.25 level into resistance. If they manage to do that, the ADA/USDT pair may plummet to the Feb. 6 low of $0.22.

The bulls will have to swiftly thrust the price above the moving averages to trap the aggressive bears. That may drive the pair to the downtrend line. Sellers are expected to vigorously defend the downtrend line, as a close above it signals a potential short-term trend change.

Hyperliquid price prediction

Buyers are attempting to sustain the Hyperliquid (HYPE) price above the 20-day EMA ($37.86), but the recovery lacks strength. 

If the HYPE price dips below the 20-day EMA and the $36.77 level, it suggests that the bulls have given up. That may pull the HYPE/USDT pair to the 50-day SMA ($33.73), which is likely to act as strong support.

Alternatively, if the price turns up from the current level, it is expected to face resistance at $41.59 and then at $44. Buyers will have to scale the $44 level to signal the resumption of the up move toward $50.