Bitcoin Stalls Below Key Fibonacci Barrier as Bulls Eye Breakout Beyond $122K
Bitcoin remains locked in a tight range between $116,000 and $120,000, with a crucial test looming at $122,056 — the 1.618 Fibonacci extension derived from the 2018 and 2022 cycle lows and the 2021 high. This level, known as the “golden ratio,” is widely regarded in technical analysis as a potential inflection point for trend reversals or accelerations.
The golden ratio is not just a mathematical curiosity — it’s historically aligned with significant profit-taking zones in major crypto bull markets. Bitcoin’s surge past $70,000 in November set the stage for the $122K region to act as a psychological and technical barrier. A decisive move above it could validate further upside momentum, shifting focus toward the next major extension target at $187,929.
Failure to break through could indicate buyer exhaustion, potentially marking a cyclical top as bears begin to assert more control.
BTC Key Levels:
- Resistance: $120,000, $122,056, $123,181
- Support: $116,000, $114,700, $111,965
XRP Defends $2.995 as Chart Forms Bullish Double Bottom
XRP is holding steady above the $2.995 mark — the 38.2% Fibonacci retracement of the June–July advance — with buyers repeatedly rejecting dips below the level. Technical patterns suggest a double bottom formation, with breakout potential emerging on a move past $3.33, the July 28 peak.
A successful breakout could open the path toward a retest of the recent high near $3.65. However, daily MACD indicators remain in negative territory, and short-term moving averages are trending lower, signaling ongoing selling pressure. A break below $2.995 would likely negate the bullish setup and invite further downside.
XRP Key Levels:
- Resistance: $3.33, $3.65, $4.00
- Support: $2.995, $2.65, $2.58
Ether Flirts with Breakdown as Momentum Shifts Bearish
Ether is trading within a narrowing wedge pattern, reflecting indecision amid waning momentum. The MACD histogram has turned negative on the daily chart, while the 50-, 100-, and 200-hour moving averages are flattening — signs that the uptrend is losing steam.
A breakdown below $3,510 (July 25 low) would signal a bearish reversal, exposing ETH to potential declines toward $3,000. On the upside, resistance at the $4,000–$4,100 zone remains a key area to clear for bulls looking to regain control.
ETH Key Levels:
- Resistance: $3,941, $4,000, $4,100
- Support: $3,510, $3,000, $2,879
Solana Faces Key Test as Uptrend Channel Weakens
Solana is at risk of breaking down from the ascending channel that has supported its rally since June 22. A close below this bullish trendline would mark a structural shift, likely prompting a move toward the convergence of the 50-, 100-, and 200-day moving averages near $160–$162.
To regain momentum, bulls must clear the July 28 high at $195. A failure to do so could invite further downside, with $156 (the 61.8% Fib retracement of the June–July rally) and $126 as the next support zones.
SOL Key Levels:
- Resistance: $195, $206, $218
- Support: $160–$162, $156, $126
