Price Predictions 11/5: Btc, Eth, Bnb, Xrp, Sol, Doge, Ada, Hype,...
Bitcoin bulls are aggressively defending the critical $100,000 support level, as a break below it may accelerate selling, potentially pulling BTC price below $87,800.
Bitcoin has bounced off the $100,000 support, but the relief rally is expected to face selling near $107,000.
Several altcoins are finding buying support at lower levels, but the recovery may face selling on rallies.
Bitcoin (BTC) bulls are aggressively defending the psychologically crucial support at $100,000 and have pushed the price above $103,000. However, higher levels are expected to attract selling by the bears. ShapeShift analyst Houston Morgan said that BTC is unlikely to rally above $125,000 in 2025.
A sustained recovery has eluded BTC as long-term BTC holders, entities holding coins for at least six months without selling, and the short-term BTC holders, have gone on a selling spree.
According to an X post by CryptoQuant analyst Maartunn, LTH supply has decreased by 405,000 BTC over the past 30 days. The STHs also remain sellers, sending 28,600 BTC to the exchanges in the past three days, Maartunn wrote.
While several analysts expect a deeper correction, Bitwise Chief Investment Officer Matt Hougan said on CNBC that the latest leg of the downward move shows peak retail capitulation rather than the start of a deeper collapse. He expects BTC to “end the year at new all-time highs.”
What are the crucial support levels to watch out for in BTC and the major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
BTC closed below the $107,000 support on Monday and extended its decline below the $100,000 level on Tuesday.
Buyers are fiercely defending the $100,000 level, but the recovery is expected to face selling at the breakdown level of $107,000 and then at the 20-day exponential moving average ($109,341). If the price turns down sharply from the overhead resistance, the risk of a break below $100,000 increases. If that happens, the BTC/USDT pair could plunge to $87,800.
Source: CoinTelegraph
