🔸 Bitcoin (BTC): Uptrend pauses near resistance
Bitcoin remains rangebound near $120,000, with Deribit options data revealing significant positive dealer gamma at the $120,000–$120,500 strikes. This positioning encourages mean-reversion flows—dealers selling into strength and buying on dips—which tends to suppress volatility and limit directional moves.
The $116,000–$117,000 support zone, backed by both price structure and on-chain activity, remains pivotal. A breakdown could trigger a slide toward the May peak near $112,000, while a decisive push above $120,000 would likely open the door to new highs.
Yet, signs of fatigue are building. The three-line break chart logged just a 0.12% gain on July 22—a sign of waning bullish momentum and possible exhaustion.
AI Insight: The negligible move on the three-line break chart is a key red flag. It suggests that BTC’s strong uptrend is stalling, raising the probability of near-term consolidation or reversal.
- Resistance: $120,000, $123,181
- Support: $117,000, $116,000, $114,700, $111,965
🔸 Ethereum (ETH): Rally loses steam after 7-month high
ETH briefly surged to $3,937—its highest level in seven months—before retreating to $3,880, invalidating last week’s Doji indecision candle but failing to maintain momentum.
The 14-day RSI did not confirm the new high, hinting at bearish divergence, while the MACD histogram on the daily chart is close to a negative crossover. On-chain activity, including fees and protocol revenue, remains soft—failing to support the recent price action.
The key support to watch is $3,510. A break below this level could accelerate losses. On the upside, the $3,900–$4,100 zone remains major resistance.
AI Insight: Bearish divergence on the RSI and a looming MACD crossover point to fading bullish strength. ETH may struggle to maintain current levels without a strong catalyst.
- Resistance: $4,000, $4,100, $4,382
- Support: $3,770, $3,510, $3,000
🔸 XRP: Momentum fades below $3.35
XRP gave up early-session gains, pulling back from the $3.35 former support-turned-resistance level. Technical signals have turned negative—the hourly RSI has broken its uptrend line, and the MACD histogram has flipped below zero.
This opens the door for a retest of the July 24 low at $2.96. A break below that would expose the May high at $2.65. Weekly charts also show a tweezer top at $3.65, a bearish reversal pattern suggesting broader weakness.
AI Insight: The reversal from $3.35, coupled with a weekly tweezer top, points to a cooling rally. Downside risks are mounting unless $3.35 is reclaimed.
- Resistance: $3.35, $3.65, $4.00
- Support: $2.96, $2.65, $2.44 (200-day SMA)
🔸 Solana (SOL): Rally at risk beneath $205
Solana has reclaimed the hourly Ichimoku cloud and is printing higher lows, signaling potential for a renewed push toward $200—the top of its ascending channel.
Still, a tweezer top at $205–$206 remains intact on the daily chart. A close below $184 would invalidate the current bullish structure and could trigger a deeper pullback toward the 200-day SMA near $163.
AI Insight: While intraday structure looks constructive, the daily tweezer top casts a shadow over the rally. A break below $184 would tilt the balance in favor of bears.
- Resistance: $205–$206, $218, $252
- Support: $184, $163, $126
