Technical Analysis for October 9: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, HYPE, LINK, SUI

Bitcoin (BTC) fell sharply on Tuesday, but the bears still could not push the price below the 120,000 USD mark — a testament to the solid buying power at low price zones. Immediately after that, the bulls quickly regained control, pushing the price back above 123,000 USD and are currently working to conquer the important resistance level at 124,474 USD.

According to data from CoinGlass, October is usually a "booming" period for Bitcoin, with an average increase of 20.75% — ranking second in performance since 2013. Economist Timothy Peterson even stated on X that there is up to a 50% chance that BTC will close this month above the mark of 140,000 USD.

Although the main trend still leans towards an increase, traders are advised to be cautious: if Bitcoin cannot break through and maintain above 126,000 USD, profit-taking pressure may return. At that point, the support zone of 120,000 USD will be the first "defensive wall" that needs to be protected. If this level is breached, analysts warn that the price could fall deep into the zone of 118,000–114,000 USD.

Will Bitcoin have enough strength to trigger a new rally, thereby breathing life back into the altcoin market? Let's follow the detailed analysis of the charts of the top 10 cryptocurrencies.

Technical Analysis of BTC

BTC has set a new all-time high at 126,199 USD on Monday, but the bulls could not maintain buying pressure in the higher price zone.

BTC/USDT Daily Chart | Source: TradingViewThe BTC/USDT pair reversed and fell below the breakout threshold of 124.474 USD on Tuesday. However, the 20-day exponential moving average (118.110 USD) is trending upwards and the RSI indicator remains in the positive zone — indicating that the advantage still lies with the bulls.

Buyers will continue to strive to push the price above 126,199 USD to extend the uptrend. If successful, BTC/USDT could climb to the zone of 138,154 USD.

On the contrary, if the price continues to fall and breaks through the 20-day EMA, it will indicate that the market has rejected the breakout above 124,474 USD. At that point, the currency pair may retreat to the 50-day simple moving average around 114,276 USD.

Technical Analysis of ETH

Ether (ETH) closed above the resistance line on Monday, but the bears quickly pulled the price below this level the next day.

The daily ETH/USDT chart | Source: TradingViewCurrently, the ETH/USDT pair is trying to find support around the moving average lines, indicating that the bulls have not yet given up control. Buyers will make another attempt to break through the resistance line and aim for the historical peak of 4.957 USD.

On the contrary, if the price slides below the moving averages, it will indicate that the bears are regaining control. At that point, the price of ETH could fall to the support zone of 4,060 USD — where strong buying power is expected to emerge.

Technical Analysis of BNB

BNB has maintained a strong upward trend for many consecutive days, indicating sustainable buying flow from the bulls.

BNB/USDT daily chart | Source: TradingViewThe bears are trying to halt the upward momentum around the 1,350 USD mark, but the shallow correction indicates that buyers are still holding their ground, expecting the rally to continue. If the price breaks above 1,350 USD, the BNB/USDT pair could advance towards 1,394 USD, even 1,479 USD.

To reverse the trend, the bears need to pull the BNB price below the 61.8% Fibonacci retracement level at 1,217 USD — which could trigger a deeper correction towards the 20-day EMA at 1.097 USD. However, the bulls are likely to defend the 20-day EMA fiercely, as breaking below this level would signal a weakening upward momentum.

Technical Analysis of XRP

The repeated failures of the bulls to maintain the price of XRP along the downward trend line indicate that the bears are fiercely defending this zone.

XRP/USDT Daily Chart | Source: TradingViewThe price of XRP has turned around and fallen below the moving averages on Tuesday, signaling that the XRP/USDT pair could continue to oscillate in a descending triangle pattern. Sellers will try to pull the price below the support zone of 2.69 USD. If successful, the price could slide deeper to 2.33 USD.

This negative outlook will be negated if the price bounces back and closes above the downtrend line. At that point, the currency pair could head towards the zone of 3.20 USD, even 3.38 USD.

Technical Analysis of SOL

Solana (SOL) has maintained a stable upward momentum in the gradually rising price channel for several days.

Daily chart of SOL/USDT | Source: TradingViewIf the price falls below the SMA 50 line (216 USD), the SOL/USDT pair may retreat to the support line of the channel. Bulls are expected to strongly defend this zone, as a breach of support could extend the bearish trend to 191 USD, or even 175 USD.

On the contrary, if the price bounces up from the current zone and surpasses the 20-day EMA (222 USD), it will indicate that the buying force at the low price zone is still strong. At that point, the bulls may push the price of Solana back up to the upper resistance line of the uptrend channel.

Technical Analysis of DOGE

The price of Dogecoin (DOGE) has turned to fall from 0.27 USD on Tuesday but is finding support at the (SMA) 50-day simple moving average at 0.24 USD.

DOGE/USDT Daily Chart | Source: TradingViewThe bulls will attempt to push Dogecoin's price above the 0.27 USD mark and challenge the strong resistance zone at 0.29 USD. If buyers can overcome this level, the DOGE/USDT pair may begin a new upward trend towards the model target at 0.39 USD.

However, the bears may have other plans. They will look for ways to pull the price down to the uptrend line – a zone that the bulls need to protect. The ascending triangle pattern that is forming will be invalidated if the bears gain the upper hand and push the price below the uptrend line, which could cause the currency pair to continue oscillating in the zone of 0.14 – 0.29 USD for some more time.

Technical Analysis of ADA

The price of Cardano (ADA) closed above the 50-day SMA at (0.85 USD) on Monday, but the bulls could not maintain the upward momentum in the high price zone.

Daily chart of ADA/USDT | Source: TradingViewThe ADA/USDT pair has reversed and dropped below the 20-day EMA at 0.83 USD on Tuesday. This movement indicates that the price of Cardano may continue to fluctuate within a descending triangle pattern for a few more days. Selling pressure may increase if bears pull the price below the support zone of 0.75 USD, opening up the possibility of further decline to 0.68 USD, and even 0.60 USD.

Conversely, buyers will need to push the price above the resistance line to invalidate the bearish pattern. At that point, the currency pair may bounce up to 0.95 USD, and then to 1.02 USD.

Technical Analysis of HYPE

Hyperliquid (HYPE) has retraced from the Fibonacci retracement level of 61.8% at 51.87 USD on Sunday, indicating that the bears are taking profits as the price rises.

The daily HYPE/USDT chart | Source: TradingViewThe next support zone is at 43 USD. If the price rebounds strongly from this level, it indicates that buying pressure is emerging in the lower zone. At that point, the HYPE/USDT pair may enter a consolidation phase within the range of 43 – 52 USD.

The advantage will shift to the bulls if they can push the Hyperliquid price above 52 USD, paving the way for a retest of the historical peak at 59.41 USD. Conversely, if the price breaks below 43 USD, the pair could fall deep down to 39.68 USD.

Technical Analysis of LINK

The price of Chainlink (LINK) has turned to fall from the resistance line on Tuesday and dropped below the 20-day EMA at 22.31 USD.

Daily LINK/USDT chart | Source: TradingViewThe bulls may not easily give up. They will continue to try to push the price of Chainlink back above the resistance line. If successful, this will indicate that the correction phase has ended, and the LINK/USDT pair could begin a new uptrend towards 25.64 USD, followed by 27 USD.

On the contrary, if the price reverses and falls from the resistance line and breaks below the 21.47 USD level, it will confirm that the bears still have control, causing the currency pair to remain trapped in the current downward channel.

Technical Analysis of SUI

In the past few days, buyers have been unable to push the price of Sui (SUI) towards the downward trend line, indicating that bears are taking advantage of the rebound to sell.

SUI/USDT daily chart | Source: TradingViewThe 20-day EMA (3.48 USD) is moving sideways along with the RSI index around the neutral zone, indicating that neither side has a clear advantage yet. If the Sui price slips below the moving averages and stays there, the next stop could be the support line.

On the contrary, if the price strongly rebounds from the current zone and breaks above the downtrend line, it will be a signal that the bulls are returning. At that point, the SUI/USDT pair could rise to 4 USD, and further to 4.44 USD.

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