Market Overview: A Bullish Start to the Quarter
The crypto market is showing renewed strength at the start of the fourth quarter. Bitcoin successfully broke above the key $117,500 resistance level, a significant move that opens the path for a retest of its all-time high near $124,474. This bullish momentum isn’t confined to Bitcoin alone; several major altcoins have also begun a strong relief rally, signaling that buyers are actively stepping in at lower levels. Historical data adds to the optimism, suggesting that a positive monthly close in September has often been followed by substantial gains in Q4.
Bitcoin and Ethereum: Setting the Pace
Bitcoin (BTC) has not only cleared a major hurdle but also seen its 20-day Exponential Moving Average (EMA) turn upward, indicating building positive momentum. A daily close above $117,500 is the key confirmation needed for the rally to potentially challenge the all-time high and possibly extend towards $141,948. Traders are watching the $107,000 level as crucial near-term support, a breach of which could invalidate this optimistic outlook.
Ethereum (ETH) has climbed back above its 20-day EMA, indicating that selling pressure is easing. The next significant challenge for buyers is to push the price above a key resistance trendline. A successful break could see ETH aim for a retest of its own all-time high around $4,957. On the downside, the $3,745 level is a critical support that sellers would need to break to signal a potential short-term top.
Altcoins in the Spotlight
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XRP: The price is testing a critical juncture at its downtrend line. A close above this line could trigger a rally toward $3.20, while a break below the $2.69 support may lead to a decline to $2.20.
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BNB: After a rejection from the $1,036 level, the bulls are defending the 20-day EMA. A strong rebound could signal an attempt to break higher toward $1,083, whereas a drop below $934 might start a deeper correction.
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Solana (SOL): Buyers are attempting to overcome resistance at the 20-day EMA. A break above the nearby uptrend line could signal the end of the correction and open a path toward $260.
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Dogecoin (DOGE): Having bounced from an uptrend line, DOGE is now trying to close above its 20-day EMA. Success could lead to a move toward $0.26 and even $0.29.
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Cardano (ADA): The bulls are working to push the price above the moving averages. If successful, a rally toward $1.02 is possible. The $0.75 level is a critical support to watch on any downturn.
