Bitcoin (BTC) chance of hitting new highs increases as bulls show clear intent to defend the $109000 level

Bitcoin (BTC) has been holding near the $110000 level, just short of the all-time high of $111980. That suggests the bulls are holding on to their positions.

Key points:

* Bitcoin’s chance of hitting new highs increases as bulls show clear intent to defend the $109,000 level.

* ETH and HYPE are leading the altcoin charge.

Bitcoin (BTC) has been holding near the $110,000 level, just short of the all-time high of $111,980. That suggests the bulls are holding on to their positions as they anticipate another leg higher. The bullish sentiment received a boost from a post on Truth Social by US President Donald Trump that said the US and China have arrived at a trade deal pending final approval from the respective heads of state.

Bitwise researchers André Dragosch and Ayush Tripathi said in a recent report that Bitcoin could reach its estimated “fair value” of $230,000 by the year-end. Analysts believe that Bitcoin will benefit from “both fiscal instability and improving market sentiment.”

However, not everyone believes that Bitcoin will run up in the near term. Santiment analyst Brian Quinlivan told Cointelegraph that Bitcoin is unlikely to see a bullish surge above the all-time high, as social media is abuzz with expectations of a new all-time high, and markets generally move opposite to retail expectations.

Could Bitcoin bulls shove the price above $111,980, pulling altcoins higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin skyrocketed above the $109,588 resistance on June 9, but the bulls are struggling to sustain the higher levels.

A shallow pullback increases the likelihood of a breakout above the $111,980 resistance. If that happens, the BTC/USDT pair will complete a bullish inverted head-and-shoulders pattern, which has a target objective of $146,892.

Alternatively, if the price breaks below $108,000, the pair risks falling to the 20-day exponential moving average ($106,313). This is an essential level for the bulls to defend because a break below it may sink the pair to the 50-day simple moving average ($102,709) and then to the psychological support at $100,000.

Ether price prediction

Ether (ETH) broke and closed above the $2,738 resistance on June 10, indicating that the bulls are attempting to take charge.

The 20-day EMA ($2,584) has started to turn up, and the RSI is near the overbought zone, signaling that the buyers have the upper hand. The bears are unlikely to give up easily and will try to pull the price back below $2,738. If they manage to do that, the ETH/USDT pair could drop to the 20-day EMA ($2,584).

If the price rebounds off the 20-day EMA with force, the pair could skyrocket to $3,153. There is resistance at $3,000, but that may be crossed. This optimistic view will be negated in the short term if the price turns down and breaks below the 20-day EMA. That suggests the breakout above $2,738 may have been a bull trap.

XRP price prediction

XRP (XRP) closed above the moving averages on June 9, but the bulls are struggling to maintain the higher levels.

The flattish moving averages and the RSI just above the midpoint suggest the XRP/USDT pair could remain range-bound between $2 and $2.65 for a few more days. If the price closes below the moving averages, the pair could slide to $2. On the other hand, a break above $2.36 clears the path for a rally to $2.65.

A break and close above $2.65 signals the start of a new up move toward $3. On the other hand, a break below $2 opens the gates for a fall to $1.61.

BNB price prediction

BNB (BNB) rose above the 20-day EMA ($659) on June 9, and the bulls are trying to push the price toward the $693 resistance.

The flattish 20-day EMA and the RSI just above the midpoint signal a range-bound action in the near term. The BNB/USDT pair could remain stuck inside the $634 to $693 range for a while longer.

A break and close above the $693 resistance suggests the bulls have overpowered the bears. The pair could rally to $732 and subsequently to $761. The trend will favor the bears on a break below $6