Technical Analysis on October 4: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, LINK, SUI

Bitcoin (BTC) has approached its historical peak, rising to nearly 123,900 USD during Saturday's trading session, just a short step away from the record of 124,474 USD. The recovery momentum comes from the strong demand from the bulls, amid the fact that Bitcoin ETFs in America have recorded an influx of capital of up to 2.25 billion USD just this week, according to data from Farside Investors.

The outlook is becoming more vibrant as many experts believe that a new peak is only a matter of time. Charles Edwards – the founder of Capriole Investments – asserts that Bitcoin could surge up to 150,000 USD before the end of 2025, thanks to an influx of funds seeking safe-haven assets alongside gold.

However, not everyone is optimistic. Trader Roman warns on platform X that the weekly and monthly RSI indicators are showing bearish divergence signals, meaning investors should be "extremely cautious" when holding at the current price level.

The big question is: Can Bitcoin break through its record level, paving the way for a new explosive wave of altcoins? Let's dive deep into the technical analysis of the top 10 cryptocurrencies to find the answer.

Technical Analysis of BTC

BTC has broken above the resistance zone of 117,500 USD on Wednesday, indicating that the bulls have regained control.

BTC/USDT daily chart | Source: TradingViewThe BTC/USDT pair is currently approaching the historical peak of 124,474 USD, where the bears are likely to defend strongly. If the price reverses and drops sharply from this level and falls below 117,500 USD, it indicates that selling pressure is still present at the highs. At that point, Bitcoin may fluctuate within the range of 107,000 – 124,474 USD for some time.

On the contrary, if the buying force pushes the price above 124,474 USD, the upward trend will be extended, opening up the possibility of reaching the milestone of 141,948 USD.

Technical Analysis of ETH

Ether (ETH) closed above the 20-day exponential moving average (EMA – 4.309 USD) on Wednesday and hit resistance on Saturday.

Daily ETH/USDT Chart | Source: TradingViewThe 20-day EMA is showing signs of an upward slope, while the RSI has returned to the positive zone, indicating a slight advantage for the bulls. The bears will attempt to halt the bounce back at the resistance level, but if they fail, the ETH/USDT pair may retest the historical peak of 4,957 USD.

In a negative scenario, the bears need to pull the price below the 20 EMA line to eliminate the upward momentum. At that point, the price of ETH could drop to 4,060 USD.

Technical Analysis of XRP

The bulls pushed XRP above the downtrend line on Thursday, but were unable to maintain a closing price above this level.

XRP/USDT Daily Chart | Source: TradingViewCurrently, the bulls are trying to keep XRP above the downtrend line. If successful, the bearish descending triangle pattern will be invalidated, creating an opportunity for the XRP/USDT pair to rise to 3.20 USD, and even 3.38 USD.

However, this scenario will fail if the price turns around and falls below the moving averages, indicating that the previous breakout was merely a "bull trap."

Technical Analysis of BNB

BNB has reached a new historical peak above 1,084 USD on Thursday and continues to expand its upward momentum on Saturday, reaching 1,187.95 USD.

Daily BNB/USDT Chart | Source: TradingViewThe BNB/USDT pair has broken above the rising price channel pattern, indicating that buying pressure is dominant. The nearest resistance level is 1,173 USD, and if surpassed, the upward momentum could extend to 1,252 USD.

On the contrary, the breakout area from the price channel along with the 20-day EMA (1.004 USD) will serve as strong support. If the price falls below 930 USD, it may indicate that BNB has reached a short-term peak.

Technical Analysis of SOL

The bulls have successfully brought Solana (SOL) back on the rising trend on Wednesday, a signal that the correction phase may have come to an end.

SOL/USDT daily chart | Source: TradingViewIf a pullback occurs from the current price level, the 20-day EMA around $220 is likely to provide strong support. From here, the SOL/USDT pair could break out towards the resistance level of $260. However, the bears will definitely put all their efforts into defending this level, as a close above $260 could allow Solana to quickly accelerate towards $295.

On the contrary, to regain the advantage, the bears must pull the price down below the 50-day SMA around $212.

Technical Analysis of DOGE

Although DOGE is still being "trapped" in a wide range of 0.14 – 0.29 USD, the price action indicates that a rising triangle pattern is forming.

Daily DOGE/USDT chart | Source: TradingViewIf buyers push the closing price above 0.29 USD, the bullish pattern will be confirmed, opening up the possibility of reaching the target of 0.39 USD.

On the contrary, if the bears pull the price below the bullish trend line, the DOGE/USDT pair may have to extend the accumulation phase for a while longer.

Technical analysis of ADA

The price of Cardano (ADA) has risen back above the 50-day SMA (0.86 USD) on Thursday, indicating that selling pressure is easing.

Daily ADA/USDT Chart | Source: TradingViewBuyers need to push Cardano's price above the resistance line to confirm that the correction phase may have ended. At that point, the ADA/USDT pair could attempt to rise to the 1.02 USD mark, where the bears are predicted to enter.

On the contrary, if the price turns down from the current level or from the resistance line and breaks through the 20-day EMA at (0.84 USD), this indicates that the bears are still taking advantage of the bounce back to sell. At that point, the currency pair could fall to the support level of 0.75 USD.

Technical Analysis HYPE

Hyperliquid (HYPE) has broken above the moving averages on Thursday, indicating strong buying pressure at lower price levels.

HYPE/USDT daily chart | Source: TradingViewThe expected bounce back will face selling pressure at the Fibonacci 61.8% level at 51.87 USD. If the price adjusts from this level but bounces back from the moving average, it indicates that market sentiment has turned positive. At that point, the HYPE/USDT pair could advance to the 59.41 USD region.

On the contrary, if the price reverses and breaks through the moving averages, this indicates that the bears are still in control at the high price level. At that point, the price of Hyperliquid could drop to 43 USD and then down to 39.68 USD.

Technical Analysis of LINK

Chainlink (LINK) has risen above the 20-day EMA (22.35 USD) on Wednesday, but the bulls are facing resistance at the downtrend line.

LINK/USDT daily chart | Source: TradingViewIf the price slides down and maintains below the 20-day EMA line, this indicates that the LINK/USDT pair may continue to fluctuate within the descending channel for a few more days.

The first strength signal will appear if the price breaks out and closes above the downtrend line. At that point, the price of Chainlink could rise to 26 USD and then to 27 USD. The bears will attempt to halt the upward momentum at 27 USD, but if the bulls take the lead, the bounce back could extend to 30.94 USD.

Technical Analysis of SUI

Sui (SUI) has risen above the moving averages on Wednesday, indicating that selling pressure is easing.

Daily SUI/USDT Chart | Source: TradingViewIf the bulls maintain the price above the moving averages, the SUI/USDT pair could head towards the downtrend line. The bears are expected to defend this trend line aggressively, as a breach could see the price of Sui breakout to 4.20 USD, potentially extending to 4.44 USD.

Conversely, if the price turns and breaks through the moving averages, it indicates that the bears have not yet given up. At that point, the currency pair could drop to the support zone of 3.26 – 3.06 USD.

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