Bitcoin (BTC) is attempting a bounce off the $65,426 level, but the bulls are struggling to hold onto higher levels. The launch of fresh strikes by the US and Iran has hurt sentiment, but Bitrue Research Institute research lead Andri Fauzan Adziima told Cointelegraph that the fall was more about ‘leveraged liquidations, heavy ETF outflows, and technical breakdowns than pure Iran news, but it amplifies the fear.’ All eyes have shifted to BTC’s yearly lows of $60,000.
Bitcoin Price Prediction: Expanding Triangle Points to Potential $56,000 Target
Veteran trader Peter Brandt said in a post on X that BTC has formed an expanding triangle, a common and reliable pattern. He projects a decline to about $56,000, but added that a move above $75,000 would invalidate this bearish view. The short-term trend has turned negative, but the bulls are unlikely to give up without a fight. Buyers are expected to enter the $65,000 to $60,000 zone, but relief rallies are likely to be sold into. Volatility is likely to increase over the next few days as the bulls and bears battle for supremacy. Buyers will have to propel the price above $77,000 to signal that BTC has bottomed out in the short term.
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Ether, BNB, XRP, and Solana Face Critical Support Tests
Ether’s (ETH) $1,916 to $2,465 range resolved to the downside on Tuesday, indicating that the bears are in control. The ETH/USDT pair may dip to the solid support at $1,750. The oversold level on the relative strength index (RSI) suggests a bounce is possible from $1,750, but rallies are likely to be sold into. A shallow rebound increases the possibility of a break below the $1,750 level. If that happens, the ETH price may plummet to $1,550.
BNB (BNB) fell below the breakout level of $687 on Monday and extended its decline to the 50-day SMA ($645) on Tuesday. The drop back below $687 may have trapped the aggressive bulls. The $628 level may act as a temporary support, but it is likely to be broken. If that happens, the BNB/USDT pair may plummet to solid support at $570.
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XRP (XRP) broke below the strong support of $1.27 on Tuesday, indicating that the bears are in charge. The next support on the downside is the Feb. 6 intraday low of $1.11. Buyers are expected to fiercely defend the $1.11 level, as a close below it signals the start of the next leg of the downtrend to $1.
Solana (SOL) closed below the $76 support on Tuesday, indicating that the bears have overpowered the bulls. The bulls will attempt to push the SOL price back above $76, but are expected to face significant resistance from the bears. If the price declines from $76, the next stop is likely the Feb. 6 low of $67.
Hyperliquid, Zcash, and Stellar Show Relative Strength
Hyperliquid (HYPE) has held strong among all the mayhem, signaling that the bulls expect the uptrend to continue. Profit-booking was seen near $75, but the shallow pullback suggests the bulls view the dips as buying opportunities. If buyers push the HYPE price above $75, the rally could reach the $85-$89 zone.
Zcash (ZEC) turned up and closed above the 20-day EMA ($568) on Tuesday, indicating buying at lower levels. The bulls will have to drive and maintain the ZEC price above $690 to signal the resumption of the uptrend. If they manage to do that, the ZEC/USDT pair may rally to $750, where the bears are expected to mount a strong defense.
Stellar (XLM) has been in a bull phase of its own, rising from $0.14 on May 23 to $0.30 on May 30. The sharp rally prompted profit-booking by short-term traders, pulling the XLM price down to the 50% Fibonacci retracement level at $0.22. If the price rises from the current level, the bulls will attempt to push the XLM/USDT pair above $0.27 and then $0.30.
Dogecoin and Cardano Remain Under Pressure
Dogecoin (DOGE) has dipped to the support of the $0.09 to $0.12 range, where buyers are expected to step in. If the DOGE price turns up from the current level, the bears will attempt to halt the recovery at the 20-day EMA ($0.10). If the price turns down sharply from the 20-day EMA, the risk of a break below $0.09 increases.
Cardano (ADA) continued lower, plunging below the $0.22 support on Tuesday, signaling the resumption of the downtrend. The RSI has slipped into oversold territory, increasing the likelihood of consolidation or a relief rally in the near term. Any recovery attempt is expected to face selling at $0.22 and then at the 20-day EMA ($0.24).
Conclusion
The broader crypto market faces significant headwinds from geopolitical tensions, heavy ETF outflows, and technical breakdowns. While Bitcoin’s $60,000 level is expected to attract strong buying interest, the path of least resistance remains downward in the short term. Altcoins like HYPE, ZEC, and XLM show relative strength, but most major cryptocurrencies are at risk of resuming their downtrends if key support levels fail. Traders should brace for increased volatility as the battle between bulls and bears intensifies.
FAQs
Q1: What is the key support level for Bitcoin right now?
The most critical support zone is $62,500 to $60,000. A close below $60,000 would signal a resumption of the downtrend and could open the door to $50,000.
Q2: Why are altcoins like Hyperliquid and Stellar performing better than Bitcoin?
These coins are in distinct uptrends driven by strong buying interest at lower levels. Their relative strength suggests that traders see them as having higher short-term upside potential compared to majors like ETH and SOL.
Q3: How are geopolitical tensions affecting crypto markets?
The US-Iran strikes have amplified fear, but analysts say the primary drivers are leveraged liquidations, heavy ETF outflows, and technical breakdowns. The geopolitical news acts as a catalyst that accelerates existing bearish trends.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
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