Bitcoin tests $80,000, BNB and ADA approach key support levels

Bitcoin is once again testing the $80,000 mark after slipping nearly 1.8% in daily trading, with the price dipping to a low of exactly $80,000 before a modest rebound. The world’s largest cryptocurrency currently hovers near $80,100 as market participants monitor whether it can sustain recent gains following a spring and summer rally.

Bitcoin at crossroads as trend softens

After surging from about $63,000 in August to almost $87,500 in late September, Bitcoin failed to establish a new high in early October. Since then, it has given back around 8% from its recent peak, and the chart now shows a clear sequence of lower highs, reflecting increased activity from sellers.

The 50-day moving average, located near $80,300, has been pivotal for the uptrend since August. Bitcoin is currently testing this level, having already dropped below shorter moving averages at approximately $81,200 and $82,400. Market analysts suggest that a daily close below the 50-day line would be an initial sign that upward momentum is fading.

Bitcoin now sits at a crossroads: “If sellers push the price below $80,000 with rising volume, the next potential support is between $77,000 and $78,000, where previous rebounds occurred and both the 100-day ($76,600) and 200-day ($75,600) moving averages converge.”

Despite recent declines, volumes remain low, indicating measured selling rather than panic. Experts point out that a meaningful recovery will require a visible uptick in buy-side volume.

On the upside, if Bitcoin holds $80,000 and reclaims levels above $82,400, market participants could view the current retreat as a routine pullback within a wider bullish trend. Surpassing $84,000 may pave the way for another approach toward the $87,500 high. Conversely, a sharp drop below $80,000 could bring $77,000 into play within days.

BNB and Hyperliquid brace for support tests

BNB, the native token of Binance, is trading near $717 after dropping roughly 1.2% in daily activity. The price briefly touched $708.89 before buyers attempted to stabilize it. This comes after an impressive rally from $540 in June to an $810 peak in October—a gain of almost 50%. The coin has since declined by about 11% as momentum shifted in favor of sellers.

The 100-day moving average, resting at $700, now offers crucial support. Just below, the 200-day moving average at $686 provides another safety net. Resistance remains between $733 and $750, in line with the descending shorter-term moving averages.

If BNB buyers manage to hold the $700 mark, a bounce above $735 could confirm ongoing support and trigger a move toward $780 and possibly the $810 high. A fall beneath that level, however, might see BNB dropping toward $686 or even $660 if selling intensifies.

With sellers currently in control, only a push above $735 would show renewed confidence among dip buyers and potentially set up a retest of previous highs.

BNB is the utility token of Binance, the largest cryptocurrency exchange by trading volume globally, used for trading fee discounts, payments, and ecosystem development.

Hyperliquid (HYPE) is also under pressure, with a daily decline of roughly 4% to near $77.80. It has dropped below its 50-day moving average of $83 and now sits just above its 100-day moving average at $77. A failure to hold this support could threaten the gains achieved since August, as the 200-day moving average at $64.50 becomes the next technical floor.

Recent falling volumes on HYPE suggest sellers are not exiting en masse, but buyers remain cautious. Recovery efforts need a price move over $83 and sustained volume increases to reverse the latest slide.

Mini dictionary: Hyperliquid is a decentralized derivatives exchange and its token HYPE is used for governance, protocol incentives, and ecosystem rewards.

Cardano slips as broader market pulls back

Cardano (ADA) fell approximately 5% to $0.219 after opening at $0.2303 and dipping to $0.2159. Similar to other major altcoins, ADA benefited from a strong rebound over the past few months—rising from $0.14 in June to $0.282 in early October—before correcting about 22% from its high.

The main challenge for Cardano’s buyers is the resistance at the 200-day moving average near $0.241. Recent attempts to break through this barrier ended with sharp drops, reinforcing it as a critical hurdle for upward momentum. Today’s decline brought ADA to its 100-day moving average near $0.220, with the next key support at $0.200.

The current RSI reading near 40 signals soft momentum, but not deeply oversold conditions. Unless buyers step in, a further slide could target the $0.190 region, erasing substantial progress from recent rallies.

Analysts view Cardano’s moves as part of a broader market retreat; Bitcoin’s ongoing struggle to maintain $80,000 has made it tough for ADA and other altcoins to hold support. Bulls need to reclaim $0.230 to restore optimism, while a firm daily close below $0.215 could prompt additional drops.