This lackluster performance has kept many ADA holders in the red zone, with unrealized losses mounting as the price continues to struggle. As a result, it is only natural for many to keep selling to reduce their losses, which in turn could cause the ADA price to keep falling, at least in the short term.

Analyst Says Cardano Price Is Already 80 To 90% Into Correction

The current ADA price action is very difficult to deal with, especially for long-term holders who have continued to hold despite the laggard performance. According to an analyst on TradingView, the best way for these ADA holders to keep approaching the ADA price outlook is to keep holding. This is because the drop is already quite advanced and we can say that 80 to 90% of the correction is already over for this pair.

To put things in perspective, Cardano is currently trading around 56% below its 2024 high of $0.7742, despite broader market rallies seen in September and October. According to crypto analyst Alan Santana on TradingView, ADA appears to be consolidating around the same price levels seen in November 2023, showing limited upward momentum.

In comparison, most other large market cap cryptocurrencies like Bitcoin, Solana, and BNB are already on their way to retesting their 2024 highs made in the first quarter.聽

Interestingly, there exists a possibility of Cardano dropping lower in the coming months, especially if Bitcoin were to correct massively. However, as analyst Alan Santana pointed out, Cardano is already almost done with its corrections. As such, a fresh drop in the ADA price wouldn’t be a super strong drop and would last only a few days or maximum a few weeks.聽

Sustained Long-Term Growth For ADA

According to Santana, selling ADA now may not be the best move, especially for those who have held throughout the corrections. This is because prices are already really low for ADA, and is already in the accumulation zone. As such, a prudent action would be to focus on the long term and wait until the next bull market enters in full swing.聽

Santana鈥檚 price projection for ADA suggests that while another slight drop could occur, it would likely be followed by a gradual recovery from November 2024 to February 2025, with a more significant bullish phase expected to gain momentum by March 2025. By that point, Santana forecasts a potential return for ADA above $0.70, representing a 130% increase from its current price levels.

At the time of writing, ADA is trading at $0.3371, having increased by about 1.25% in the past 24 hours.聽

鈥楤ird Beak鈥?Pattern Signals Path To $100,000

Optimism in the crypto community is soaring as a popular crypto analyst, 鈥楾rader Tardigrade鈥?has shared a bullish prediction for Bitcoin鈥檚 price outlook. In an X (formerly Twitter) post, the analyst uncovered a distinct technical pattern known as the 鈥淏ird Beak sign鈥?in the Bitcoin Heikin AshiBitcoin Heikin Ashi chart, which is a type of candlestick chart used to spot market trend direction and predict future prices.聽

The Bird Beak Sign is a distinct chart pattern that resembles a beak and is created when the Heikin Ashi candlesticks cluster together in a tight consolidated range. Typically when a cryptocurrency consolidates, it means that its price is stabilizing before a potential rally upwards. In the case of Bitcoin, the recent Bird Beak pattern suggests consolidation is preceding an upward momentum.聽

The analyst notes that in the past when Bitcoin showed the Bird Beak sign on the daily Heikin Ashi chart, it was followed by a strong uptrend. This upward movement was represented by multiple green candles, which showed upward movement.聽

Sharing a price chart, Trader Tardigrade disclosed that on 2nd January 2023, a Bird Beak sign had appeared in the Bitcoin chart, triggering a price surge to $23,250 at the time. This same chart pattern was also observed on the 7th and 25th of February, 2024, with Bitcoin skyrocketing to $52,000 and reaching between $71,000 to $72,000, respectively.聽聽

Trader Tardigrade has revealed that the present Bird Beak sign seen in Bitcoin鈥檚 Heikin Ashi chart formed on 27 October 2024. Based on these past signs, analysts have predicted that the new Bird Beak pattern could lead to another sharp increase for Bitcoin, potentially pushing its price to $114,000 this month.聽

Analyst Expects Bitcoin Price To Hit $71,000 First

In a more recent X post, Trader Tardigrade revealed that Bitcoin was breaking out of a Symmetrical Triangle at the tip of its 8-hour Heikin Ashi chart.聽 Based on this new symmetrical triangle pattern, the analyst forecasts that a successful breakout could lead to a rally towards the $71,000 price target for Bitcoin.聽

This bullish sentiment is shared by another popular analyst known as the 鈥楾itan of Crypto,鈥?who also projects Bitcoin鈥檚 next target at $71,000. This analyst has predicted that Bitcoin will reach this new target before the month closes, highlighting that the cryptocurrency鈥檚 monthly candle is looking significantly strong.

It鈥檚 important to note that as of writing, the price of Bitcoin is trading at $67,856, marking a 1.3% increase in the past 24 hours, according to CoinMarketCap.聽

Speaking of sustained rally, the Bitcoin Stock-to-Flow model is pointing to an interesting trend in the long-term outlook for Bitcoin. Particularly, crypto analyst Plan B made reference to the Stock-to-Flow model to suggest that BTC is ready for the next phase transition.

BTC Is Ready For Next Phase Transition

The Bitcoin Stock-to-Flow (S2F) model is drawing attention as it signals that Bitcoin may be gearing up for a new phase transition that would solidify its price above $100,000. 聽The S2F model, originally developed for commodities like gold and silver, measures an asset鈥檚 existing supply against the rate of new units entering the market. In the case of BTC, the S2F model calculates scarcity by taking its fixed supply of 21 million BTC into account, along with the block reward halvings that reduce new supply every four years.聽

Each halving event decreases the issuance rate, creating an increasing scarcity that the model correlates with price growth. According to the S2F chart shared by Plan B, these halvings have led to price increases in the months after, with the S2F model accurately forecasting Bitcoin鈥檚 transitions into new price levels.聽

Bitcoin last halved in April 2024, resulting in the block reward slashing from 6.25 BTC to 3.125 BTC. According to the S2F chart, past Bitcoin halvings have always started the price transition into a new phase. The 2020 halving, for example, kickstarted the transition into a new phase above $10,000 that culminated in BTC reaching the previous all-time high of around $66,000.聽

Now that the April 2024 halving is six months behind us, the effects of the halving are starting to be factored into the supply and demand of Bitcoin. As such, Bitcoin is looking prime for a phase transition above $100,000.

What Does This Mean For Bitcoin Price?

As past phase transitions have played out, a phase transition above $100,000 would solidify the Bitcoin price above this level. With the $100,000 price level now serving as a price floor, this would give the Bitcoin price the support to keep increasing in the months after.聽

Previous phase transitions have always led to a new peak before another halving. The anticipated peak for this phase is just below $1,000,000. If past trends hold true, the Bitcoin price could reach this impressive milestone ahead of the next halving, which is expected to take place in 2028.

At the time of writing, Bitcoin is trading at $68,340.

Technical Pattern Signals $200,000 Rally Ahead

Popular crypto analyst, Mags has unveiled a new technical pattern in the Bitcoin price chart. According to his post on X (formerly Twitter), Bitcoin is currently forming 鈥渁 massive cup and handle pattern,鈥?indicating a potential for a major rally.聽

Mags revealed that the Bitcoin price has just moved past the handle portion in the technical pattern, indicating a positive signal for a breakout that could start a bullish phase. As its name suggests, a Cup and Handle pattern is a key technical chart pattern that resembles a cup and handle.聽In this chart pattern, the cup is in the shape of a U and is considered a bullish signal, while the handle represents a slight downward drift, which indicates a聽potential buying opportunity to go long.聽

Mags observed that since Bitcoin has just broken past the handle, the next level is to watch the 鈥渘eckline鈥?which serves as a resistance point. If Bitcoin can break through the neckline, it鈥檚 price could surge dramatically or like the analyst says 鈥済o vertical.鈥?This bull rally could see Bitcoin鈥檚 price driving towards $200,000, marking a new all time high for the cryptocurrency.

Currently, the price of Bitcoin is trading at $66,972, reflecting a slight 2.02% decrease in the past seven days, according to CoinMarketCap. While Mags has projected a $200,000 price increase for Bitcoin, the analyst has also forecasted even higher price targets in previous X posts, suggesting that a $200,000 price level may be conservative for the world鈥檚 first and largest cryptocurrency.聽

Bitcoin Price Peak Set At $300,000

In another X post on October 24, Mags disclosed that Bitcoin is about to enter its price discovery, suggesting an imminent breakout to new levels. Price discovery is the process by which an asset鈥檚 true market value is determined, and for Bitcoin, it suggests when its price could reach fresh highs.聽聽

Sharing a historical Bitcoin price chart, the analyst pinpointed instances where the cryptocurrency entered a price discovery before reaching a peak. In 2014, BTC hit a peak, then bottomed out in 2015 before reaching another price high in 2018. A similar price action occurred between 2019 and 2024, with BTC achieving a bottom in 2019 and peaking in 2021.聽

Following this historical price trend, Mags indicated that Bitcoin hit its bottom in 2023 and is now about to enter its price discovery. Once the cryptocurrency does, it could signal a surge to a new all-time high, which Mags has set at an impressive $300,000.聽

Here鈥檚 How High An Analyst Project鈥檚 Bitcoin鈥檚 Next Price

Popular crypto analyst, Javon Marks revealed in an X (formerly Twitter) post on Thursday that Bitcoin鈥檚 recent price movements were signaling an impending bull rally. The analyst observed that Bitcoin鈥檚 current market conditions resemble past patterns and trends.聽

Marks presented a detailed chart depicting Bitcoin鈥檚 price action from 2023 till date. The analyst noted that the Bitcoin price had formed a Hidden Bull Divergence pattern in 2023, spanning from February to November. Similarly, the cryptocurrency is currently developing another Hidden Bullish Divergence pattern, beginning at the start of the beginning of the year and appearing to extend towards year-end.聽

Based on these parallel price movements, Marks suggests that Bitcoin is poised for a significant rally to new highs soon. The analyst projects that Bitcoin鈥檚 next target is presently 70% above its current price, with the potential to surge as high as $116,652 as it experiences one of the most explosive bull waves ever seen.聽

From Mark鈥檚 X post, it can be seen that the analyst has consistently projected the $116,600 price target for Bitcoin. His earliest Bitcoin prediction of this all-time high was on September 12, when he claimed that Bitcoin鈥檚 rise to over $116,600 was still 100% away.聽

Mark鈥檚 unwavering confidence in this price target suggests a strong conviction that Bitcoin is poised to reach a new ATH this cycle. Currently, the price of Bitcoin is trading at $67,601, marking a 1.31% increase in the last 24 hours and a 5.86% increase over the past month, according to CoinMarketCap.聽

Bitcoin Price Could Jump Even Higher Than $116,000

Another well-known crypto analyst, identified as 鈥榊oddha鈥?on X has presented a Bitcoin price chart highlighting its next bullish price target. With a caption that reads: 鈥淲hen in doubt, zoom out,鈥?the analyst has expressed his confidence that Bitcoin is set to skyrocket this season.

In the price chart, the analyst pinpointed his next target for Bitcoin, indicating that the cryptocurrency could see its price soaring between $130,000 to $170,000. This price surge is expected to occur around 2025 when the bull market is fully underway.聽

Conversely, Elja, a market expert on X, has projected a more conservative price target for Bitcoin, expecting the cryptocurrency to soar to a new ATH of around $94,000. However, the analyst believes that this massive price breakout will begin in October.聽

Dogecoin Price Flashes Bullish Pennant

Trader Tardigrade revealed in an X post that the Dogecoin price has reached the tip of a bullish pennant on the daily Heikin Ashi chart. With this occurrence, the analyst claimed a breakout was just around the corner. He added that an 鈥渆asy target鈥?measured from the pennant pole is $0.18.聽

The analyst鈥檚 accompanying chart showed that the Dogecoin price could reach this target before the month ends. DOGE has already enjoyed a massive uptrend this month as CryptoRank data shows that the foremost meme coin is up over 22% in October, a monthly performance that has only been topped this year by its price gains in February and March.聽

However, a rise to $0.18 this month would match October鈥檚 price gains with those recorded in February, when DOGE enjoyed a monthly return of 50%. In March, the Dogecoin price recorded a gain of 87% as it rose to a yearly high of $0.22.聽

The Dogecoin price uptrend this month is expected to extend until year-end and even continue in the new year, as crypto analyst Dima James said the price recovery trend will continue into 2025. Interestingly, the analyst predicted that DOGE could rally to as high as $10 and surpass it sometime next year. He made this prediction based on the 2021 bull pattern, which he claimed the meme coin is replicating again.聽

Meanwhile, Trader Tardigrade recently mentioned that the Dogecoin price had replicated a 鈥楻eversal box鈥?move from the 2021 bull run. Because of this pattern, the analyst predicted that DOGE could reach $3.7 next year.聽

The Run To A New All-Time High Of $3

Crypto analyst KrissPax has provided insights into how the Dogecoin price could run to this new all-time high (ATH) of $3. Using the law of diminishing returns, the analyst mentioned that he sees a resistance at $0.22, which, if DOGE breaks above, would send its price to $0.35, another resistance level.聽

He claimed that a successful break above that resistance level would send the Dogecoin price to its current ATH of $0.73. Once that is done, KrissPax predicts that the foremost meme coin will run to a new ATH at around $3 in 2025. In the meantime, DOGE needs to clear the $0.14 resistance, with a successful breakout possibly leading to the rally to $0.20.聽

At the time of writing, the Dogecoin price is trading at around $0.138, down in the last 24 hours, according to data from CoinMarketCap.聽

Analyst Says Ethereum Will Outperform Bitcoin

Ethereum has mostly lagged behind Bitcoin in price performance since the current market cycle began, struggling to gain momentum above the $3,000 mark since July. Ethereum bulls have faced challenges in attracting significant inflows, which has kept the price below key levels while Bitcoin has surged.聽

Bitcoin recently climbed back above $67,000 and is now approaching its yearly high of $73,737.聽 Solana has also found its way above $170 again and could continue on the momentum to break above its yearly high of $202.

However, despite Ethereum鈥檚 underperformance relative to these two crypto heavyweights, crypto analyst @IamCryptoWolf believes the trend is going to reverse in the second half of the cycle.

The analyst provided his Ethereum outlook in reference to its price movements on the 3-day candlestick chart. The chart shows Ethereum rebounding off the bottom trendline of an ascending triangle, indicating the potential for an upward move. Consequently, the analyst projected a full breakout of multiple price resistances when the momentum finally rolls into Ethereum.

Should this breakout occur, @IamCryptoWolf predicts Ethereum will surpass Bitcoin and Solana in performance during the second half of this bull cycle. He further noted a price target range for Ethereum鈥檚 surge, placing the lower boundary at $8,428, with a high-end target reaching up to $12,000. This projected breakout has sparked renewed interest in Ethereum鈥檚 ability to regain a leading position, especially among investors who are still waiting for an altcoin rally phase led by Ethereum.

What鈥檚 Next For ETH?

At the time of writing, Ethereum is trading at $2,472, having lost about 3% of its value in the past 24 hours. This sort of performance has left many ETH investors feeling uncertain about the asset’s near-term outlook. According to data from IntoTheBlock, about 51.40% of addresses that bought in between $2,106.27 and $2,855.96 are in losses, not to talk of those that bought above $2,855.96.聽

Interestingly, @IamCryptoWolf addressed this trend among ETH investors in another post on social media platform X. Here, he highlighted that Ethereum is still bullish despite the underperformance. The analyst explained that Ethereum鈥檚 current price movement appears to be forming either an inverted head and shoulders or an ascending triangle pattern on the charts, both of which are traditionally seen as bullish formations in technical analysis.

With Bitcoin still trading close to its all-time high, this new whale milestone brings into question a better chance of Bitcoin breaking above and creating a new all-time high very soon.

Whale Activity And Holder Count Reaches New Highs

Bitcoin whales have always been one of the most important indicators for ongoing sentiment among traders and long-term holders. According to Glassnode data presented by Andr茅 Dragosch, director and head of research for Europe at Bitwise, the number of addresses that fall into the whale category has been on a steady climb since January 2024, where it stood just below 1,500 addresses.

The current market climate and inflow from institutional investors have allowed this upward trajectory to persist over the past months, pushing it past multiple levels. The most recent figures reveal that the number of Bitcoin addresses holding at least 1,000 BTC has reached 1,678, marking the highest point in whale activity since January 2021, during the height of the last major bull run.

What this suggests is that each of these addresses now holds at least $67 million worth of Bitcoin, given the current price of the cryptocurrency.

New All-Time High Incoming?

Whale accumulation leading up to the previous highest level in January 2021 was one of the key factors that drove the Bitcoin price to peak above $69,000 in 2021.聽

Although the Bitcoin price has now broken above this previous peak to create an all-time high of $73,737 in March 2024, the same accumulation pattern appears to be unfolding. This interesting accumulation of BTC by Bitcoin whales has proven to be the much-needed boost to stop deeper price corrections after a false breakout of a descending triangle earlier in the week.

Even with the false breakout, the overall sentiment around Bitcoin remains optimistic. According to on-chain analytics provider CryptoQuant, it鈥檚 not just the whales driving the market. Retail investors have also joined the action. On-chain data shows a 13% rise in retail demand over the last 30 days, a notable increase that mirrors the retail interest seen in March 2024, just before Bitcoin reached its latest all-time high.聽

Retail on-chain activity returns after 4 months

鈥淚n the last 30 days, retail demand grew by about 13%, highlighting a scenario that was only seen in March, when we were close to the last historical high.鈥?鈥?By @caueconomy

Full post //t.co/VORO90JhVg pic.twitter.com/jHGzjUBgII

鈥?CryptoQuant.com (@cryptoquant_com) October 22, 2024

At the time of writing, Bitcoin is trading at $67,000, having traded between $65,161 to $67,538 in a 24-hour range and $65,441 to $69,227 in a seven-day range.聽

Interestingly, Bitcoin is only about 10% away from surpassing its all-time high once again. With this increased buying interest and whale accumulation, Bitcoin seems ready for another breakout to set a new price record before the end of 2024.

ETH Triangle Breakout Targets $10,000

Trader Tardigrade has predicted Ethereum鈥檚 next price target to $10,000 based on an ascending trendline and symmetrical triangle pattern. To be more precise, the analyst has confirmed that the Ethereum price has been following a distinctive ascending trendline and is now forming a key symmetrical triangle pattern, which often indicates an imminent price breakout.

In light of these developments, Trader Tardigrade has revealed that, historically, Ethereum has experienced explosive rallies to new highs after breaking out of symmetrical triangle patterns. Sharing an Ethereum price chart confirming this observation, Trader Tardigrade revealed that from June 2022 to the present, the Ethereum price has broken out of multiple symmetrical triangle patterns while playing on an ascending trendline.聽

Before April 2023, the cryptocurrency鈥檚 price broke out of a symmetrical triangle, which led to a massive 70.73% price increase to new highs. Similarly, from around October 2023 to the beginning of 2024, the cryptocurrency experienced its second breakout, triggering a massive 140.4% price rally.

Based on these historical bullish trends, Trader Tardigrade has noted that Ethereum is approaching its third breakout from its current symmetrical triangle pattern. In the last breakout, the cryptocurrency had doubled its gains, jumping 70% from the first breakout to 140%.聽

With this in mind, the analyst has projected that this next breakout could result in a 280% price increase for Ethereum, doubling its 140% jump from the second breakout. Moreover, if Ethereum鈥檚 price increases by this projected 280% rally, then its price could potentially reach $10,000.聽

Update On The Ethereum Price Action

Despite bullish projections suggesting that Ethereum could be gearing up to hit new all-time highs, the cryptocurrency has been under significant downward pressure, experiencing major declines and slow growth. To the dismay of Ethereum investors, the cryptocurrency has declined again by 2.20% in the last 24 hours, after experiencing a 4.1% decrease over the past week, according to CoinMarketCap.聽

The ongoing decline in Ethereum has also prompted significant backlash from many crypto community members, with analysts ranking it as one of the most underperforming assets from the previous market cycle. While other crypto members emphasize how disappointing the cryptocurrency鈥檚 price performance has been lately.聽

As of writing, the Ethereum price is trading at $2,517, with many predicting that the cryptocurrency could drop even lower and possibly trigger a downturn for other altcoins in the market if it fails to maintain the 0.038 BTC/ETH level.聽聽

Bitcoin Price Retesting $65,000 And What Could Come Next

MMBT Trader mentioned in a TradingView post that the $65,000 support zone is now the major daily support, and market participants can expect a valid retest of the channel breakout. The analyst claimed that if the Bitcoin price holds this support, investors can expect a 鈥渉eavy pump鈥? which could lead to a new all-time high (ATH).聽

However, if the Bitcoin price fails to hold the $65,000 bullish channel, such a breakout to the downside would lead to a free fall to the $60,000 support level. MMBT Trader even suggested the possibility of BTC retesting $50,000 if it fails to hold above $65,000. Meanwhile, a breakdown means that the flagship crypto could range for a while before it makes another attempt to break its ATH at $73,000.聽

Analyst Justin Bennett also recently highlighted the $65,800 range as the first test for the Bitcoin price. He had also indicated that BTC could drop to around $63,000 if it fails to hold above this level. However, a successful hold above this price range would invalidate his trade setup.聽

The Bitcoin price has so far held well above $65,000 since it again reclaimed $67,000 after the price crash two days ago. However, Bennett indicated that BTC isn鈥檛 yet in the clear despite the bounce on October 23. He claimed there is no confirmed bottom as long as the flagship crypto is below $68,200.聽

BTC Needs A Weekly Close Above This Level

In an X post, crypto analyst Rekt Capital mentioned that a weekly close above $66,200 would be confirmed as a successful retest. He noted that the flagship crypto was showing promising signs so far, having already produced a wick below the $66,200 price level and returned above it.聽

His accompanying chart showed that the Bitcoin price drop below $66,200 before the weekly close could lead to further breakdown below the $60,000 support level.聽

Meanwhile, bear analyst CrediBULL Crypto predicted that the Bitcoin price could retest the $68,000 range to 鈥渂ait in some final longs鈥?before it suffers a 鈥渞ug pull鈥?to the $60,000 support level. The analyst is one of those who believe that it is still too soon to call for a new ATH for BTC based on his belief that the flagship crypto still needs to retest the lower range.聽

At the time of writing, the Bitcoin price is trading at around $67,000, up in the last 24 hours, according to data from CoinMarketCap.聽