Bitcoin slipped below the key $100,000 support on Sunday, influenced by rising geopolitical tensions following the US strike on Iran’s nuclear facilities. Analyst Cas Abbe suggested the cryptocurrency might decline further toward the $93,000–$94,000 range before a possible rebound.
This decline in Bitcoin has led major altcoins like Ether (ETH), XRP, Solana (SOL), and Hyperliquid (HYPE) to break their support levels, indicating increased risk aversion among traders.
Despite short-term weakness, some analysts maintain a bullish long-term outlook. Raoul Pal, CEO of Real Vision, compared the current crypto cycle to 2017’s, forecasting its extension into the second quarter of 2026.
Bitcoin Outlook
- Bitcoin dropped below the 50-day simple moving average (SMA) of $104,788 on Friday and breached the $100,000 mark on Sunday.
- Indicators signal bearish momentum: moving averages near a bearish crossover and the relative strength index (RSI) in negative territory.
- If Bitcoin stays under $100,000, the next target could be around $93,000, with a bearish descending triangle pattern targeting $89,420.
- Recovery efforts face resistance near the 20-day exponential moving average (EMA) at $104,616 and the 50-day SMA.
Ether (ETH)
- ETH fell below the 20-day EMA ($2,487) and 50-day SMA ($2,481), breaking the $2,323 support.
- Currently testing support at $2,111, a breach could lead to a drop toward $1,754.
- Rebounding above the 20-day EMA would indicate potential stabilization, but resistance remains strong near $2,323.
- Price may consolidate between $2,111 and $2,323 if support holds.
XRP
- XRP broke below its $2 support after trading in a $2 to $2.65 range, increasing bearish pressure.
- If trading remains under $2, the next support zones are $1.61 and $1.28.
- Bulls aiming to push XRP back above $2 face resistance at the moving averages and the 20-EMA.
- The RSI entering oversold territory suggests a possible short-term relief rally.
Solana (SOL)
- SOL completed a bearish head-and-shoulders pattern after falling below $140 support.
- If prices fail to rise above the 20-day EMA ($148), SOL may decline toward $110 and potentially down to $93.
- A break above the 20-day EMA could prompt a rally toward the 50-day SMA at $160, but selling pressure is expected at key resistance levels.
- RSI signals the possibility of a short-term relief rally amid a prevailing downtrend.
Hyperliquid (HYPE)
- Repeated failure to maintain levels above $42.50 triggered a sharp correction.
- Price tested the 50-day SMA ($32.26), but selling pressure suggests a possible drop to $28.50 support.
- Bulls need to defend the 50-day SMA and push above the 20-day EMA to signal a recovery.
- Current indicators show bearish momentum with potential resistance near $40 and the 50-day SMA.
This article does not constitute investment advice. All trading involves risks and readers should perform their own due diligence.