Technical Analysis on September 30: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE

Bitcoin has extended its bounce back above 114,000 USD, indicating strong buying pressure from investors. However, BTC is still stuck in a narrow range, and analysts are currently divided on the market's next move. Some predict that it may enter a bearish phase, while others are anticipating a bullish surge to a new all-time high.

In the face of short-term uncertainty of BTC, market participants have become cautious. According to CoinShares' weekly report, BTC ETP products recorded a net outflow of 719 million USD last week. The situation for altcoins is also inconsistent; Ether ETPs saw a net outflow of 409 million USD, while Solana recorded a net inflow of 291 million USD.

Daily cryptocurrency market data | Source: Coin360As September comes to a close, investors have a positive outlook for October, a month that has recorded an average increase of 21.89% since 2013, according to data from CoinGlass. Timothy Peterson, a Bitcoin network economist, shared on social media X that the BTC bullish phase typically lasts from 11/10 to 11/6 the following year, creating a 50% chance that BTC will reach 200,000 USD by June 2026.

Will BTC be able to break through the resistance level, leading to a bullish trend for altcoins? Let's analyze the charts of the top 10 cryptocurrencies to find out.

Price Prediction of the S&P 500 Index

The S&P 500 (SPX) index fell from 6,699 on Tuesday but found support at the 20-day exponential moving average (EMA) (6.586) on Thursday.

Daily chart of SPX | Source: Cointelegraph/TradingViewThe upward-sloping moving average and the RSI in the positive zone indicate that investors are controlling the market. If buyers push the price above 6,700, the index may continue its bullish trend towards 7,000.

On the contrary, if the sellers pull the price down below the 20-day EMA, this could weaken the bullish momentum. In that case, the index may drop to the 50-day simple moving average (SMA) (6.459). Investors are expected to defend the 50-day SMA at all costs, as a drop below this level could trigger a deeper correction to 6.147.

Prediction of the US Dollar Index Price

Buyers pushed the US dollar index (DXY) above the 50-day SMA (98,02) on Thursday, but investors are struggling to maintain the breakout.

Daily chart of DXY | Source: TradingViewThe flat moving averages and RSI near the midpoint do not provide a clear advantage for either buyers or sellers. If the price turns around and falls below the 20-day EMA (97,74), this may indicate that the index will consolidate in the range of 99 to 96.21 for some time.

On the contrary, if the price reverses from the 20-day EMA and exceeds the level of 99, this will indicate a positive sentiment. The index may then rise to 100.50 and eventually to 102.

Bitcoin Price Prediction

BTC has fluctuated between 107,000 USD and 124,474 USD, indicating hesitation between buyers and sellers regarding the next move.

Daily chart BTC/USDT | Source: TradingViewThe BTC/USDT pair will complete a bearish double top pattern if the price reverses and falls below 107,000 USD. This suggests that the Bitcoin price may have peaked in the short term. This pair could decline to 100,000 USD and then to the target of the pattern at 89,526 USD.

On the contrary, if the price rises above the moving averages, this indicates that selling pressure is decreasing. This pair may then rise to 117,500 USD, which is an important level to watch. If buyers surpass the barrier of 117,500 USD, the all-time high is likely to be tested.

Ether Price Prediction

ETH has begun a correction from 3,815 USD on Thursday, likely to face selling pressure at the 20-day EMA (4.262 USD).

Daily chart ETH/USDT | Source: TradingViewIf buyers surpass the resistance level at the 20-day EMA, the price of Ether could rise to the resistance line. Sellers will again attempt to prevent the bounce back at the resistance line, as a breakout and close above this level could open the door for a rally to 4,957 USD.

Instead, if the price turns from the 20-day EMA, this will signal negative sentiment. This increases the likelihood of breaking below 3,745 USD. If that happens, the ETH/USDT pair could fall to 3,426 USD.

Price Prediction for XRP

XRP continues to trade within a descending triangle pattern, indicating that the sellers are still maintaining pressure.

Daily chart of XRP/USDT | Source: TradingViewIf the price reverses from the moving averages, the sellers will try to pull the XRP/USDT pair below the support level of 2.69 USD. If they succeed, this pair will complete a bearish setup. The price of XRP may then fall to 2.20 USD.

Buyers will need to push and maintain the price above the downtrend line to invalidate the negative pattern. This could trap aggressive sellers, pushing the pair up to 3.40 USD and then to 3.66 USD.

BNB Price Prediction

BNB has bounced back from the Fibonacci retracement level of 61.8% at 934 USD on Friday, indicating demand at lower levels.

Daily Chart BNB/USDT | Source: TradingViewThe bounce back is expected to encounter strong resistance at 1.034 USD and then at the all-time high of 1.083 USD. If the price reverses from the above area and falls below 932 USD, this signals that the BNB/USDT pair may have peaked in the short term. The price of BNB may then decline to the 50-day SMA (901 USD).

Conversely, a breakout and close above 1,083 USD indicate the continuation of the bullish trend. The pair may then begin the next rally up to 1,173 USD.

Solana Price Prediction

SOL has begun a bounce back from 191 USD on Friday, which is expected to face selling pressure at the 20-day EMA (216 USD).

Daily chart SOL/USDT \ Source: TradingViewIf the price turns from the moving averages, sellers will try to pull the SOL/USDT pair below 191 USD. If they succeed, the price of Solana may fall to 185 USD and then down to 155 USD.

This negative outlook will be invalidated in the short term if the price reverses and breaks above the 20-day EMA. This will pave the way for a retest of the resistance level at 260 USD, where strong defense from the sellers is expected.

Dogecoin Price Prediction

Dogecoin has bounced back from the bullish trend line on Friday, but the recovery is facing resistance at the moving averages.

Daily Chart DOGE/USDT | Source: TradingViewThe 20-day EMA is sloping down(0.24 USD) and the RSI just below the midpoint indicates a slight advantage for the sellers. If the price of DOGE reverses and drops below the uptrend line, this suggests that the DOGE/USDT pair may spend more time in the range of 0.14 USD to 0.29 USD for a while longer.

The first sign of strength will be a breakout and a close above the 20-day EMA. This will open the door for a retest of strong resistance at 0.29 USD.

Cardano Price Prediction

Sellers pulled Cardano below the support level of 0.78 USD on Thursday but were unable to maintain it at lower levels.

Daily chart ADA/USDT | Source: TradingViewPrice has bounced back above 0.78 USD on Friday, and buyers are trying to extend the bounce back to the moving averages. If the price reverses from the 20-day EMA (0.83 USD), sellers will again try to pull the ADA/USDT pair back to 0.68 USD.

On the contrary, if buyers push the price above the moving averages, Cardano's price could reach the resistance level. A breakout and close above the resistance will indicate that buyers have returned to the game.

Price Prediction for Hyperliquid

HYPE has surged significantly from the support level of 40 USD on Friday, indicating strong buying at lower levels.

Daily chart HYPE/USDT | Source: TradingViewThe HYPE/USDT pair has reached the moving averages, which is an important level to watch. If the price turns back from the moving averages, sellers will try to push the pair below 40 USD. If they succeed, the price of Hyperliquid could fall to 35.50 USD.

On the contrary, if buyers push the price above the moving averages, this indicates that the correction phase may have ended. Buyers will then try to push the pair up to the all-time high of 59.41 USD.

Mr. Teacher