ETH And HYPE Prove Altseason Is Here, BTC Chases New Highs

Key points:

• Bitcoin’s chance of hitting new highs increases as bulls show clear intent to defend the $109,000 level.

• ETH and HYPE are leading the altcoin charge.

Bitcoin (BTC) has been holding near the $110,000 level, just short of the all-time high of $111,980. That suggests the bulls are holding on to their positions as they anticipate another leg higher. The bullish sentiment received a boost from a post on Truth Social by US President Donald Trump that said the United States and China have arrived at a trade deal pending final approval from the respective heads of state.

Bitwise researchers André Dragosch and Ayush Tripathi said in a recent report that Bitcoin could reach its estimated “fair value” of $230,000 by the end of the year. Analysts say Bitcoin will benefit from “both fiscal instability and improving market sentiment.”

However, not everyone believes that Bitcoin will run up in the near term. Santiment analyst Brian Quinlivan told Cointelegraph that Bitcoin is unlikely to see a bullish surge above the all-time high, as social media is abuzz with such anticipation and markets generally move opposite to retail expectations.

Could Bitcoin bulls shove the price above $111,980, pulling altcoins higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin skyrocketed above the $109,588 resistance on Monday, but the bulls are struggling to sustain the higher levels.

A shallow pullback increases the likelihood of a break above the $111,980 resistance. If that happens, the BTC/USDT pair will complete a bullish inverted head-and-shoulders pattern, which has a target objective of $146,892.

Alternatively, if the price breaks below $108,000, the pair risks falling to the 20-day exponential moving average ($106,313). This is an essential level for the bulls to defend because a break below it may sink the pair to the 50-day simple moving average ($102,709) and then to the psychological support at $100,000.

Ether price prediction

Ether (ETH) broke and closed above the $2,738 resistance on June 10, indicating that the bulls are attempting to take charge.

The 20-day EMA ($2,584) has started to turn up, and the RSI is near the overbought zone, signaling that the buyers have the upper hand. The bears are unlikely to give up easily and will try to pull the price back below $2,738. If they manage to do that, the ETH/USDT pair could drop to the 20-day EMA ($2,584).

If the price rebounds off the 20-day EMA with force, the pair could skyrocket to $3,153. There is resistance at $3,000, but that may be crossed. This optimistic view will be negated in the short term if the price turns down and breaks below the 20-day EMA. That suggests the breakout above $2,738 may have been a bull trap.

XRP price prediction

XRP (XRP) closed above the moving averages on Monday, but the bulls are struggling to maintain the higher levels.

The flattish moving averages and the RSI just above the midpoint suggest the XRP/USDT pair could remain range-bound between $2 and $2.65 for a few more days. If the price closes below the moving averages, the pair could slide to $2. On the other hand, a break above $2.36 clears the path for a rally to $2.65.

A break and close above $2.65 signals the start of a new up move toward $3. On the other hand, a break below $2 opens the gates for a fall to $1.61.

BNB price prediction

BNB (BNB) rose above the 20-day EMA ($659) on Monday, and the bulls are trying to push the price toward the $693 resistance.

The flattish 20-day EMA and the RSI just above the midpoint signal a range-bound action in the near term. The BNB/USDT pair could remain stuck inside the $634 to $693 range for a while longer.

A break and close above the $693 resistance suggests the bulls have overpowered the bears. The pair could rally to $732 and subsequently to $761. The trend will favor the bears on a break below $634.

Solana price prediction

Solana (SOL) broke above the moving averages on Monday, suggesting the formation of a range between $140 and $185.

The flattish 20-day EMA ($160) and the RSI just above the midpoint give a slight advantage to the bulls. The SOL/USDT pair could reach $185, where the bears are expected to sell aggressively. If the price turns down sharply from $185, the pair may extend its range-bound action for a few more days.

The next trending move could begin on a break above $185 or below $140. If the $185 level is scaled, the pair could rally to $210 and then to $220.

Dogecoin price prediction

Dogecoin (DOGE) has been consolidating between $0.14 and $0.26 for several days, indicating buying near the support and selling close to the resistance.

The flattish 20-day EMA ($0.19) and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price sustains above the moving averages, the DOGE/USDT pair could rally to $0.26. On the other hand, a sharp reversal from the moving averages could pull the pair down to $0.16.

Buyers will have to propel the price above the $0.26 resistance to start a new up move toward $0.38.

Cardano price prediction

Cardano (ADA) rose above the 20-day EMA ($0.70) on Monday, and the bulls are trying to strengthen their position by pushing the price above the 50-day SMA ($0.72). If they manage to do that, the next stop could be the downtrend line.

The bears are unlikely to give up easily and are expected to mount a strong defense at the downtrend line. If the price turns down sharply from the downtrend line, the ADA/USDT pair may find support at the 20-day EMA. If that happens, the possibility of a break above the downtrend line increases. The pair may then rally toward $1.03.

Instead, if the price turns down from the current level or the downtrend line and breaks below the 20-day EMA, it suggests that the bears are active at higher levels. That may keep the pair inside the $0.60 support and the downtrend line for a few days.

Related: SOL price toward $300 next? Solana ETF approval chances jump to 91%

Hyperliquid price prediction

Hyperliquid (HYPE) broke and closed above the symmetrical triangle pattern on Monday, indicating the resumption of the uptrend.

The bulls have pushed the price above the stiff overhead resistance of $42.25, clearing the path for a rally to the pattern target of $46.50 and subsequently to $50.

On any pullback, the bulls are expected to vigorously defend the zone between $42.25 and $40. If the price rebounds off the support zone, it suggests that every minor dip is being purchased. That indicates the uptrend remains intact. The first sign of weakness will be a close below $40, which could pull the HYPE/USDT pair to the 20-day EMA ($35.21).

Sui price prediction

Sui (SUI) pierced the 20-day EMA ($3.40) on Monday, and the bulls are trying to drive the price above the 50-day SMA ($3.55) on June 11.

If they succeed, the SUI/USDT pair could rally to $3.75 and later to $4.25. Sellers are expected to fiercely defend the $4.25 level. If the price turns down sharply from $4.25, the pair may form a large range, swinging between $2.86 and $4.25 for some time.

The next trending move could begin on a break above $4.25 or below $2.86. Until then, the price action is likely to be random and volatile.

Chainlink price prediction

Chainlink (LINK) soared above the resistance line of the descending channel pattern and the moving averages on Tuesday, signaling that the bears are losing their grip.

If the price sustains above the breakout level, the LINK/USDT pair could pick up momentum and rally to $18. Sellers will try to defend the $18 level, but if the bulls prevail, the pair could surge to $20.

This positive view will be invalidated if the price turns back and breaks below the $13.20 support. Such a move suggests that the markets have rejected the breakout. The pair may then slump to $10.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.