Bitcoin fails to top $80,000 as analysts debate whether BTC has truly changed its trend or remains in the grasp of the bears. Key points: - Bitcoin continues to face resistance near $79,500, but the trajectory remains up as long as the price holds above $76,000. - Most major altcoins are not showing any directional bias, suggesting a near-term consolidation.
Bitcoin (BTC) attempted to rise above $79,500, but the bears held their ground. BTC investor and author Michael Terpin told Cointelegraph that BTC risks falling to $57,000 in October 2026, based on a study of the “historical average” drawdown of about 1 year from a market-cycle top. Terpin added that BTC will have to rise above $100,000 for the bull market to resume.
” Veteran trader Peter Brandt also opined in an X post that BTC may form “an investable low” in September or October. Crypto market data daily view. Source: TradingView While several analysts expect a fall in BTC, crypto sentiment platform Santiment has a different view.
1 BTC have accumulated 46 BTC during the same period. If whales continue to buy and retail investors book profits, that may signal a long-term bull run. Could BTC and the major altcoins rebound off the support?
Let’s analyze the charts of the top 10 cryptocurrencies to find out. The S&P 500 Index (SPX) rose to a new all-time high on Friday, indicating that the bulls are in command. SPX daily chart.
Source: Cointelegraph/TradingView The upsloping 20-day exponential moving average (6,948) and the relative strength index (RSI) near the overbought zone suggest the up move may continue. The next levels to watch on the upside are 7,500 and then 7,877. Sellers will have to swiftly yank the price back below the 20-day EMA to weaken the bullish momentum.
If they manage to do that, the index may tumble to the 50-day simple moving average (6,795). The US Dollar Index (DXY) reached the moving averages, where the bears are posing a stiff challenge. DXY daily chart.
74 level, where buyers are expected to step in. 55 support zone. 54 level.
54 range by selling near the overhead resistance. BTC has been sustaining above the breakout level of $76,000, indicating that the bulls are not hurrying to book profits. BTC/USDT daily chart.
Source: Cointelegraph/TradingView The upsloping moving averages and the RSI in the positive zone signal that the path of least resistance is upward. If buyers thrust the price above $80,000, the BTC/USDT pair may skyrocket to $84,000. Time is running out for the bears.
They will have to quickly pull the BTC price below the 20-day EMA to gain the upper hand. The pair may then decline to the 50-day SMA ($71,820), signaling that the bears are active at higher levels. Ether (ETH) remains above the 20-day EMA ($2,295), but bulls have failed to push it above the $2,465 resistance.
ETH/USDT daily chart. Source: Cointelegraph/TradingView Sellers will attempt to strengthen their position by pulling the ETH price below the 20-day EMA. If they succeed, it suggests the ETH/USDT pair may remain within the ascending channel for a while longer.
Buyers will have to thrust the price above the resistance line to seize control. The pair may then soar to $3,050. Sellers will be back in the driver’s seat on a close below the support line.
61 range, indicating buying on dips and selling on rallies. XRP/USDT daily chart. 40) has started to turn up gradually, and the RSI is near the midpoint, indicating that the bulls have a slight edge.
51, but if it is crossed, the XRP/USDT pair may reach the downtrend line. A break and close above the downtrend line signals a potential trend change. The pair may then rally to $2.
Sellers are likely to have other plans. They will attempt to pull the XRP price back below the moving averages, retaining the pair inside the range. BNB (BNB) is finding support at the moving averages, but the bulls have failed to trigger a strong bounce off them.
BNB/USDT daily chart. Source: Cointelegraph/TradingView Buyers will need to drive the BNB price above $654 to signal strength. The BNB/USDT pair may then test the $687 resistance level, a critical level to watch.
If buyers pierce the $687 level, the pair may jump to $730 and then to $790. Instead, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, it suggests the pair may remain within the $570 to $687 range for a few more days. Solana (SOL) continues to trade near the moving averages, indicating a balance between supply and demand.
SOL/USDT daily chart. 73, but if that level is broken, the SOL/USDT pair may reach the $98 resistance. Sellers are expected to defend the $98 level with all their might, as a close above it opens the doors for a rally to $117.
94, it suggests that the bears are attempting to take charge. The pair may then collapse to the $76 support. 11 zone.
DOGE/USDT daily chart. Source: Cointelegraph/TradingView If the DOGE price turns down from the overhead resistance zone, it is expected to find support at the moving averages. 12 level.
Contrarily, if the price turns down and breaks below the moving averages, it signals that the bears remain sellers on rallies. 09 support breaks down. 88 resistance on Sunday.
HYPE/USDT daily chart. 77 zone, as seen in the long wick on the candlestick. 50).
77, it signals that the bulls remain in control. 43 resistance zone. Cardano (ADA) has been clinging to the moving averages for several days, improving the prospects of an upside breakout.
ADA/USDT daily chart. Source: Cointelegraph/TradingView The downtrend line is the crucial resistance to watch out for as a close above it signals a potential short-term trend change. 37.
On the contrary, if the ADA price turns down sharply from the downtrend line, it suggests that the bears are aggressively defending the level. 22 support.
