cryptocoin.com As we have reported, Bitcoin (BTC) reached its all-time high again, while other coins followed this upward momentum. So, will the bull trend in BTC and ETH push other coins up? Analyst Rakesh Upadhyay shared his predictions for BTC, ETH, BNB, ADA, SOL, XRP, DOT, SHIB, DOGE and AVAX…
Analyst’s prediction of Bitcoin, Ethereum and Binance Coin
According to the analyst, the rising moving averages and the relative strength index (RSI) in the positive zone in Bitcoin indicate that the path of least resistance is up. If the bulls push the price above $67,000, the BTC/USDT pair could gain momentum. He says that while the initial target on the upside is $75,000, this level can also be seen as resistance. However, he points out that the pair may start its march towards the formation target at $89,476.12. For the possibility of a drop, he points to $55,284.
According to the analyst, the ETH/USDT pair could rise to the psychologically important $5,000 level. If the price drops from $5,000 but fails to break below the 20-day EMA, it will suggest strong buying on the downside. A break and close above this level could open the doors for a rally to $5,283.17. The key support to watch on the downside is the 20-day EMA, and if this support is broken, the bullish momentum could weaken and ETH could drop to $3,888.
In BNB, the bears are trying to defend the overhead resistance at $691.8. According to Upadhyay, if the bulls do not give up on the current level, the BNB/USDT pair could rise as high as $717.80. On the other hand, an initial support on the downside is at $600. The analyst says that if this support is lost, the pair could drop to the 20-day EMA ($549). Such a deep correction could delay the start of the next leg of the uptrend.
ADA, SOL, XRP and DOT forecast
Buyers in the ADA/USDT pair pushed the price above the 20-day EMA and the ADA/USDT pair may now rise to the resistance line. He thinks the pair could rally to $2.47 which may face stiff resistance from the bears later on. Alternatively, he thinks the bears will try to push the pair back below $1.87.
Solana (SOL) is in a strong uptrend. If it rises above the resistance line, the pair could rally to $300 and then $321. Alternatively, it could start a deeper correction towards $200 and then the 50-day SMA ($175).
Coming to Ripple (XRP), however, if the bulls hold the price above $1.24, the XRP/USDT pair could rise to $1.41. On the contrary, if the price drops from the current level, the pair could drop to the 20-day EMA. Selling could intensify if the support is broken and the pair can drop to $1.
On Polkadot, the analyst thinks that buyers will now try to push the price above $55.09 and continue the uptrend. If they are successful, the DOT/USDT pair could start to rise at $63.08. If the price declines from the overhead resistance, the pair could remain range-bound between $49.78 and $55.
End 3: Analyst’s SHIB, DOGE and AVAX forecast
The Shiba Inu (SHIB) has been in a strong correction phase for the past few days. If the bears sink the price below the 20-day EMA, the SHIB/USDT pair could drop to $0.000043 and the correction could extend as far as $0.000040. However, the pair could rally to $0.000065 later on and then to $0.0000075.
Dogecoin (DOGE) dropped below $0.26 on November 4, 5 and 6 but the long tail on the candlesticks indicates strong buying at the lower levels. The analyst states that if the price drops from the current level, it can regress to $0.24, and if this support is lost, $0.19 can be seen.
Finally, the analyst draws attention to AVAX. Avalanche (AVAX) is in a strong uptrend. According to the expert, bulls in this altcoin will now try to push the price to $100. If this level is surpassed, the AVAX/USDT pair could extend the upward move to $108.56. However, if the price declines from the current level, the pair could drop to the breakout level at $81.
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