Market Update: XRP Breaks Trend as Bitcoin Tests Key Resistance; ETH and SOL Chart Diverging Paths
Bitcoin (BTC): Losing Steam Below $120K
Bitcoin’s bullish momentum is fading after reaching a new all-time high of $123,181 on July 14. Since then, BTC has struggled to sustain gains above $120,000, slipping into a tight range between $116,000 and $120,000.
Technical signals suggest buyers are running out of steam. The intraday moving averages have flattened, and the daily MACD histogram is tilting bearish — raising the likelihood of a pullback. However, the broader uptrend from June remains intact, leaving the door open for another breakout attempt.
- Resistance Levels: $120,000, $123,181
- Support Levels: $116,000, $115,739, $111,965
- AI Insight: Consolidation persists, but momentum is fading. MACD indicates risk of a short-term reversal.
XRP (XRP): Trendline Breach Clouds Bullish Outlook
XRP’s July uptrend has broken down, marking a potential shift in momentum. The token has traded sideways between $3.35 and $3.65, but the loss of trendline support — which had tracked XRP’s rise from $2.20 — could be an early warning sign for bulls.
Widening Bollinger Bands add to the caution, signaling rising volatility akin to levels last seen before December’s sharp correction. A drop below the lower end of the current range could open the door to deeper losses.
- Resistance Levels: $3.65, $4.00
- Support Levels: $3.35, $3.00, $2.65
- AI Insight: Volatility is expanding; loss of trend support points to growing downside pressure.
Ethereum (ETH): Cooling Off After Strong Run
After a powerful rally from $2,200 to $3,850, Ether is pausing for breath. The token has pulled back to $3,600 as traders absorb recent gains. Technical indicators suggest a cooling phase: Bollinger Bands have widened to their broadest since early 2021, and the RSI is firmly in overbought territory.
A consolidation range may form as ETH stabilizes before its next major move.
- Resistance Levels: $4,000, $4,109, $4,382
- Support Levels: $3,480, $3,081, $2,879
- AI Insight: Ether remains in a strong trend, but overbought signals hint at near-term consolidation.
Solana (SOL): Bullish Structure Remains Intact
Solana is trading just under $200, yet the broader technical outlook remains bullish. The token continues to track within a defined rising channel, supported by upward-sloping moving averages.
The Bollinger Band expansion and a pending golden cross between the 50-day and 200-day SMAs signal that the recent breakout may have further room to run. A move toward $215 or higher remains on the table if current conditions hold.
- Resistance Levels: $218, $252–$264
- Support Levels: $187–$185, $163 (50-day SMA), $145
- AI Insight: Price action confirms strong uptrend; momentum favors a continued climb toward upper channel resistance.
