Price predictions 7/28: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE

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Key points:

• Bitcoin's consolidating trading range suggests a potential breakout or breakdown in the coming days.
• Some altcoins are experiencing selling pressure but are holding above their immediate support levels.

Bitcoin (BTC) is encountering resistance around the $120,000 mark. Repeated tests of this resistance zone often weaken it. If buyers maintain their position, the likelihood of BTC reaching a new all-time high above $123,218 increases.

Fundstrat's head of research, Tom Lee, suggested in a CNBC interview that BTC could surge to between $200,000 and $250,000 in the coming months. He believes this valuation would represent approximately 25% of the gold market's size.

Crypto market data daily view. Source: Coin360

BTC's consolidation appears to be driving investor interest towards Ether (ETH), which is showing upward momentum. Spot ETH exchange-traded funds have seen a 16-day inflow streak, increasing cumulative net inflows from $4.25 billion on July 2nd to $9.33 billion by Friday.

Will BTC manage to break through the overhead resistance, or will it remain within its current range? Can select altcoins maintain their positive trajectory? Let's examine the charts of the top 10 cryptocurrencies to gain insights.

S&P 500 Index price prediction

The S&P 500 Index (SPX) is continuing its upward trend toward the target of 6,500, indicating consistent buying interest at higher levels.

SPX daily chart. Source: Cointelegraph/TradingView

The upward-sloping moving averages indicate that buyers remain in control. However, the overbought condition on the Relative Strength Index (RSI) suggests the rally might be becoming overheated, increasing the risk of consolidation or a correction in the short term.

If the price declines but finds support at the 20-day simple moving average (6,283), it would signal continued positive sentiment and increase the probability of a rally to 6,500. Sellers would need to push the price below the 50-day SMA (6,099) to gain control.

US Dollar Index price prediction

The US Dollar Index (DXY) is attempting to hold above the 50-day SMA (97.68), suggesting that buyers are trying to establish a higher low.

DXY daily chart. Source: Cointelegraph/TradingView

If successful, the index could potentially rise to 100.54 and then to the 102 level, where sellers are expected to provide significant resistance.

Conversely, failure to hold above the 50-day SMA would indicate that sellers remain dominant. They would then aim to strengthen their position by pushing the price below 97.10, potentially leading to a retest of the critical support at 96.37.

Bitcoin price prediction

BTC dipped below the 20-day SMA ($117,867) on Friday, but the long tail on the candlestick indicates strong buying support at lower prices.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

Buyers are now attempting to push the BTC/USDT pair above the $120,000 to $123,218 resistance zone. Successfully doing so could lead to an accelerated move toward $135,728 and ultimately the pattern target of $150,000.

Time is running out for sellers. To regain control, they must quickly pull the price below the $110,530 support level. This could trap aggressive buyers and trigger a significant liquidation, potentially causing the pair to fall to the psychological support level of $100,000.

Ether price prediction

Ether surpassed the $3,745 resistance on Sunday, but buyers are facing challenges in maintaining these higher levels.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will attempt to push the price back below $3,745. If they succeed, the ETH/USDT pair could decline to the 20-day SMA ($3,423). Buyers are expected to defend the 20-day SMA, as a break below it could signal the start of a more significant correction.

Alternatively, if the price rebounds strongly from the $3,745 level or the 20-day SMA, it would indicate buying on dips. Buyers would then again attempt to drive the pair toward $4,094. A breakout above $4,094 could potentially lead to a rally toward $4,868.

XRP price prediction

XRP's (XRP) pullback from $3.66 found support at the 20-day SMA ($3.10) on Thursday, suggesting buying activity during the dip.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

Buyers have attempted to push the price towards $3.66, but are encountering strong resistance from sellers. If the price continues to decline and breaks below the 20-day SMA, it could signal the start of a deeper correction. The XRP/USDT pair could then fall to $3 and subsequently to $2.80.

Conversely, if the price rebounds from the 20-day SMA, it would indicate that buyers are strongly defending this level. The pair could then rally to $3.66. A break and close above $3.66 could propel the pair to $4 and then to $4.86.

BNB price prediction

BNB (BNB) declined from $809 on Wednesday, but sellers were unable to sustain the price below $761. This suggests that buyers have turned this level into support.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

Buyers pushed the price above $809 on Sunday, initiating the next phase of the uptrend. The BNB/USDT pair could potentially move toward $900 and then to the psychological level of $1,000.

While the trend remains upward, the deeply overbought condition on the RSI suggests that a consolidation or correction may be due in the short term. The first sign of weakness would be a break and close below $793, indicating profit-taking at higher levels. The pair could then decline to $761, where buyers are expected to step in.

Solana price prediction

Solana's (SOL) pullback from $209 on Wednesday stalled at the 20-day SMA ($176) on Friday, indicating demand at lower levels.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

Buyers are attempting to push the price to $209, but are facing selling pressure at higher levels. If buyers overcome the barrier at $209, the SOL/USDT pair could rally to $240 and eventually to $260. There is minor resistance at $220, but it is likely to be overcome.

This positive outlook would be invalidated in the short term if the price declines and breaks below the 20-day SMA. The pair could then fall to the 50-day SMA ($160), potentially indicating a range-bound movement between $110 and $209.

Related: XRP price to $4 next? ‘Most profitable phase’ likely here, says analyst

Dogecoin price prediction

Dogecoin (DOGE) rebounded from the 20-day SMA ($0.22) on Friday, indicating demand at lower levels.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

The relief rally is encountering selling pressure near $0.26, indicating that sellers are active at higher levels. If the price falls below the 20-day SMA, the DOGE/USDT pair could remain within the $0.14 to $0.29 range for a few more days.

Buyers will need to push the price above $0.29 to gain control. If they succeed, the pair could begin a new upward move to $0.35 and then to the pattern target of $0.44.

Cardano price prediction

Cardano's (ADA) bounce off the 20-day SMA ($0.78) is encountering selling pressure at the overhead resistance of $0.86.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The upward-sloping 20-day SMA and the RSI in positive territory suggest an advantage for buyers. A break above $0.86 could push the ADA/USDT pair to $0.94. Sellers will likely try to halt the upward move at $0.94, but if buyers prevail, the pair could rally to $1.02 and then to $1.17.

The short-term advantage would shift to sellers if the price continues to decline and falls below the 20-day SMA. This would indicate profit-taking during rallies. The pair could then decline to the 50-day SMA ($0.67).

Hyperliquid price prediction

Hyperliquid (HYPE) rebounded from the support line of the ascending channel pattern on Friday, indicating buying on dips.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

There is resistance at the 20-day SMA ($45.06), but if buyers overcome it, the HYPE/USDT pair could rise to $48 and subsequently to $50. Sellers are expected to provide strong resistance at $50.

Conversely, if the price declines from the 20-day SMA, sellers will try to push the pair below the support line. If they succeed, the pair may begin a deeper correction toward $36 and then $32.

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.