Bitcoin crossed the $66,000 mark on September 27th, suggesting the resumption of an uptrend. The bullish move, which started on Thursday, appears to have boosted inflows into Bitcoin spot ETFs. Data from Farside Investors shows investors poured over $365 million into these investment products on Friday.
Besides Bitcoin, several altcoins have reversed upward, crossing key resistance levels in the past three days. This indicates that investor sentiment around crypto is turning positive. Analyst at 10x Research, Markus Thielen, tweeted on Saturday that digital currencies were likely to witness massive gains in the final quarter of the year. He made a bold prediction that BTC could hit $90,000 by December 31st.
It is worth mentioning that Bitcoin is on the verge of breaking an 8-year record of closing September with losses. If the uptrend continues on Monday, the coin will end this month with gains for the first time since 2016.
Let’s now study the charts to determine the vital resistance areas we need to keep an eye on if Bitcoin and altcoins continue to surge in the coming days.
Bitcoin Price Analysis
BTC reached $66,000 earlier this week but has slid to $65,548 as of this writing. Despite today’s drop, the coin is up 1.8% in the past seven days and above the $65,107 resistance, suggesting that the bulls remain in charge.
If a rally begins now and the hurdle at $66,300 collapses, the buyers could propel Bitcoin to $70,125 or even $73,776, where sellers’ presence is expected.
On the other hand, if BTC drops and closes below $65,107, it would signal a weakening bullish momentum. As such, the advantage could shift to the bears’ side, causing a move to the $61,274 support and later to $58,311.
Ethereum Price Analysis
ETH crossed above the $2,698.70 support on September 27th, but the bulls could not maintain the high prices, allowing the bears to drag the token to $2,648 at press time. The buyers have been purchasing the dips above the 20-day Exponential Moving Average of $2,543 in the past few days. This suggests that they are looking to push Ethereum to territories it hasn’t touched for weeks. A sustained rally above $2,698.70 would mean that ETH has broken out of the symmetrical triangle and formed a bullish pattern, which would signal a strong move to $3,403.
Conversely, if the buyers are no longer interested in buying the dips near $2,543, there is a huge chance that we might see Ethereum dropping to the $2,187 support.
BNB Price Analysis
The buyers have guarded the 20-day Exponential Moving Average of $569.81 since September 23rd, suggesting that lower levels are now viewed as an opportunity to accumulate more coins. Increased buying could help BNB cross the $634.66 resistance to rally toward $700.84. However, if the token reaches $634.66 and the sellers overcome the buyers, a downtrend might start, with the 50-day Simple Moving Average of $544.23 being the target.
Cardano Price Analysis
After completing a double-bottom pattern last week, Cardano has rallied significantly in the past seven days. It has grown 11.3%, making it the second-best performer among the top ten currencies, only behind Dogecoin.
If the bulls keep ADA above $0.4003, a rally to $0.4583 and then to $0.4938 would seem likely. However, a reversal from $0.4583 might cause $0.4003 to crumble, fueling a move to the 20-day Exponential Moving Average of $0.3692.
Dogecoin Price Analysis
Dogecoin got a boost from Elon Musk on Friday after the X owner posted a photo of him and Republican presidential flag bearer Donald Trump. The image featured Dogecoin’s profile picture and the word “DOGE,” which stands for “Department of Government Efficiency.”
The meme coin has rallied above the 20-day Exponential Moving Average of $0.1137 to $0.1287 at press time. The $0.1407 resistance is the bulls’ next target. If crossed, a rally to $0.1853 is likely. On the other hand, a break below $0.1062 could trigger a downturn to $0.0902.
