XRP’s July Uptrend Threatened as Bitcoin’s $120K Price Resistance Holds
Bitcoin (BTC) continues its range-bound trading between $120,000 and $116,000, failing to break above resistance. The MACD histogram shows a potential bearish shift, increasing the risk of a pullback despite the intact uptrend line from June lows. Key resistance levels are $120,000 and $123,181; support sits at $116,000, $115,739, and $111,965.
XRP (XRP) also displays choppy trading between $3.35 and $3.65. However, a breach of the uptrend line from its rise to record highs strengthens the bearish case. The widening Bollinger Bands, mirroring levels preceding the December correction, indicate heightened volatility and potential for a significant downturn if support at the lower range fails. Resistance levels are $3.65 and $4; support sits at $3.35, $3, and $2.65.
Ether (ETH) has paused its ascent from June lows, pulling back to $3,600 from $3,850. The widening Bollinger Bands, reaching their highest since April-May 2021, and an overbought 14-day RSI (above 70) suggest an overbought market and potential consolidation or “breather.” Resistance levels are $4,000, $4,109, and $4,382; support is found at $3,480, $3,081, and $2,879.
Solana (SOL) has retreated to under $200, yet the bullish outlook remains. Upward-sloping moving averages, widening Bollinger Bands (highest since Q1), and a potential bullish golden cross (50-day SMA above 200-day SMA) suggest a continued uptrend. The price action stays within an ascending channel, reinforcing bullish momentum. Resistance sits at $218 and $252-$264; support levels are $187-$185, $163 (50-day SMA), and $145. In summary, while Bitcoin and XRP show signs of weakening momentum, Ether is overbought, and Solana maintains its bullish trend. The market exhibits significant volatility, indicating potential for both upward and downward movements across these major tokens.
