Price Prediction for SPX, DXY, BTC, ETH, BNB, XRP, SOL, DOGE, HYPE, ADA

Key points:

Bitcoin rose above the $70,000 level on Monday, but analysts remain skeptical, expecting a drop below the $60,000 support.

Several major altcoins have bounced off their supports, indicating demand at lower levels.

Buyers pushed Bitcoin (BTC) above the $70,000 level, but failed to sustain the breakout. That suggests the bears have not given up and are trying to retain control. Select analysts believe that BTC is likely to dip below its $60,000 low before bottoming out.

Another negative view came from Glassnode, which said in its recent report that its Long-Term Holder Realized Loss metric, which tracks losses locked in by investors who held coins for more than six months before selling, suggests the selling pressure may not have exhausted. The 30-day simple moving average of the indicator at $200 million per day needs to drop to levels below $25 million for the base formation to begin.

Among all the bearishness, there is a silver lining for the bulls. According to crypto sentiment platform Santiment, social media platforms recorded five bearish BTC comments for every four BTC bullish comments, the most since Feb. 28.

That is a good sign as markets typically move in the opposite direction of the crowd’s expectation, suggesting “things can turn positive sooner rather than later,” Santiment added.

Could buyers extend the recovery in BTC and the major altcoins? Let’s analyze the charts.

S&P 500 Index price prediction

The S&P 500 Index (SPX) has pulled back to the 20-day exponential moving average (6,601), indicating solid buying at lower levels.

Sellers will attempt to halt the recovery at the 20-day EMA, but if the bulls prevail, the index may rise to the 50-day simple moving average (6,777). Sellers are expected to pose a strong challenge at the 50-day SMA.

On the downside, the bears will have to yank the price below the 6,316 level to signal the resumption of the corrective phase. The next support to watch out for on the downside is the 6,147 level.

US Dollar Index price prediction

The US Dollar Index (DXY) is stuck between the 20-day EMA ($99.59) and the 100.54 overhead resistance.

Sellers are attempting to pull the price below the 20-day EMA. If they can pull it off, the index may decline to the 50-day SMA (98.44). That suggests the index may trade inside the large range between 95.55 and 100.54 for a while longer.

Buyers will have to maintain the price above the 20-day EMA to retain control. If they do that, the possibility of a break above the 100.54 level increases. The index may then start a new up move to the 102 level and subsequently to the 103.54 level.

Bitcoin price prediction

BTC closed above the moving averages on Sunday, indicating that the bulls are attempting a comeback.

The flattish moving averages and the relative strength index (RSI) near the midpoint do not give a clear advantage either to the bulls or the bears. If the price sustains above the moving averages, the bulls will attempt to drive the BTC/USDT pair above the $72,000 resistance. If they succeed, the BTC price may reach the $74,508 to $76,000 resistance zone.

Sellers are likely to have other plans. They will strive to pull the pair below the support line, invalidating the bullish setup. That opens the doors for a decline to the $62,500 to $60,000 support zone.

Ether price prediction

Ether (ETH) closed above the moving averages on Sunday, clearing the path for a rally to the $2,200 resistance.

Sellers will attempt to halt the recovery at the $2,200 level, but if the buyers pierce the resistance, the ETH/USDT pair may march to the $2,400 resistance. The bulls will have to propel the ETH price above the $2,400 level to start a sustained recovery to $2,800 and then to $3,050.

Alternatively, if the ETH price turns down sharply from the $2,200 level and breaks below the moving averages, it suggests that the pair may consolidate for some time. The support of the range is at the $1,916 level.

BNB price prediction

BNB’s (BNB) bounce off the $570 level has reached the moving averages, where the bears are expected to step in.

If the price turns down sharply from the moving averages, the BNB/USDT pair risks breaking below the $570 level. If that happens, the BNB price may resume the downtrend and plummet to the $500 level.

Instead, if buyers drive the price above the moving averages, it suggests that the pair may extend its stay inside the $570 to $687 range for a few more days. Buyers will be back in the driver’s seat on a close above the $687 level.

XRP price prediction

XRP (XRP) turned up from the crucial $1.27 support on Sunday, indicating that the bulls are aggressively defending the level.

The bulls will have to secure a close above the 50-day SMA ($1.39) to improve the prospects of a rally to the $1.61 level and later to the downtrend line of the descending channel pattern.

On the contrary, if the XRP price turns down sharply from the moving averages and breaks below $1.27, it suggests that the bears remain in control. The XRP/USDT pair may plunge to the $1.11 level and eventually to the support line near the $1 level.

Solana price prediction

Solana (SOL) has been oscillating inside the $76 to $98 range for several days, indicating a tough battle between the bulls and the bears.

If buyers push the price above the moving averages, the SOL/USDT pair may ascend to the $98 resistance. Sellers are expected to fiercely defend the $98 level in an attempt to keep the SOL price inside the range.

The next trending move is expected to begin on a close above $98 or below $76. If buyers thrust the price above the $98 resistance, the pair may surge to the $117 level.