By Chris Hollingworth 
Bitcoin’s market structure remains bullish, despite a phase of profit-taking and consolidation currently underway. BTC is struggling to break past the $109,588 level, a clear signal of strong resistance from the bears. Analysts at Bitfinex noted that after a rapid rally to a new all-time high, profit-taking is a common occurrence. This retracement or consolidation phase is seen as healthy, setting the stage for the next upward move.
Glassnode, a market intelligence firm, shared a similar sentiment in its recent report. The Relative Strength Indicator (RSI) weakening indicates a potential slowdown in momentum, possibly leading to a pause or reversal in the recent bullish trend. However, even in the event of a correction, it is anticipated that any dips in the market will likely be met with buying interest, supported by ongoing accumulation by whales.
Looking ahead, it is essential to monitor critical levels in both Bitcoin and altcoins. Let’s delve into the charts of the top 10 cryptocurrencies to gain insights into their potential price movements.
### Bitcoin Price Prediction
Bitcoin’s inability to sustain above $109,588 may trigger selling pressure from short-term traders. The key level to watch is the 20-day Exponential Moving Average (EMA) at $105,453. A strong rebound from this level would indicate positive sentiment and buying interest, potentially leading to a retest of $111,980. If this resistance is breached, Bitcoin could aim for $130,000. Conversely, a close below the 20-day EMA might strengthen bearish sentiment, with $100,000 serving as a critical support level.
### Ether Price Prediction
Ether (ETH) faced resistance near $2,738 but has maintained upward pressure. The formation of a bullish ascending triangle pattern suggests a potential rally upon a breakout above $2,738, targeting $3,000 and beyond. However, a downturn below the 20-day EMA at $2,467 could negate this bullish scenario, potentially dragging ETH towards $2,323 and $2,111.
### XRP Price Prediction
XRP has been range-bound between moving averages, indicating a lack of clear direction. The 20-day EMA and RSI levels do not favor either bulls or bears. A drop below the 50-day Simple Moving Average (SMA) could lead XRP towards $2 support, which is a crucial level for buyers to defend. On the upside, breaching the 20-day EMA may pave the way for a rally to $2.65 and potentially $3.
### BNB Price Prediction
BNB broke above $693 but struggled to sustain higher levels. The formation of a bullish ascending triangle pattern hints at a potential rally towards $752 upon a clear breakout. Watch for the 20-day EMA at $658 as a critical support level. Breaking below this point could intensify selling pressure, possibly pushing BNB towards the 50-day SMA at $622.
This analysis provides insights into the current market structure and potential price movements of major cryptocurrencies. Investors should closely monitor these key levels and indicators to make informed decisions in the dynamic crypto market.
