Bitcoin Approaches $122,056 Resistance While XRP Holds Above $2.995 Support
Daily analysis of top tokens with CME futures by CoinDesk analyst Omkar Godbole.
Bitcoin
Bitcoin (BTC) trades between $116,000 and $120,000. Key resistance at $122,056 needs to be breached for a bull run continuation. This level corresponds to the 1.618% Fibonacci extension from previous lows and highs.
- Resistance: $120,000, $122,056, $123,181
- Support: $116,000, $114,700, $111,965
XRP
XRP's recent pullback has stalled at $2.995, the 38.2% Fibonacci retracement. A double bottom may be forming, with resistance at $3.33. A move above this level would target $3.65; however, bearish indicators suggest caution.
- Resistance: $3.33, $3.65, $4.00
- Support: $2.995, $2.65, $2.58
Ether
Ether shows indecisive trading in a wedge pattern. The MACD has turned negative, indicating potential for a pullback. A drop below $3,510 could signal a trend reversal, while surpassing $4,000-$4,100 may trigger a rally.
- Resistance: $3,941, $4,000, $4,100
- Support: $3,510, $3,000, $2,879
Solana
Solana (SOL) risks breaking below its bullish trendline established since June 22. A decline could lead to testing support levels around $160-$162. The recent high of $195 is crucial for bullish momentum.
- Resistance: $195, $206, $218
- Support: $160-$162, $156, $126