- Bitcoin trades above 117176 dollars, eyeing 123680 dollar resistance or a drop to 111964 dollar support.
- Ethereum’s bullish, near 4100 dollar resistance, with a possible run to 4250 dollars or pullback to 3550 dollars.
- XRP rebounds from 2.8497 dollars, aiming for 3.49 dollars, but risks falling to 2.85 dollars if it breaks 3.05 dollars.
Bitcoin Leads Crypto Market Surge
The crypto market is buzzing with a 0.76 percent jump, hitting a 3.89 trillion dollar market cap, even with a 29.61 percent drop in daily trading volume.
Bitcoin is holding steady just above its 20-day average of 117176 dollars, sitting in a consolidation phase with narrowing Bollinger Bands hinting at a big move soon.
The Fear & Greed Index at 64 shows a greedy market, leaning bullish, driven by institutional money, FTX repayments, and DeFi growth. Two big events loom next week: the FOMC meeting on July 29-30 and the SEC’s decision on the Bitwise BITW ETF on July 31, which could shake up bitcoin and the broader market.
Bitcoin’s price is eyeing a tough resistance at 123680 dollars, a level it couldn’t crack earlier this month. If buyers push past it, bitcoin could climb to 127000 dollars. But if it slips below the 111964 dollar support, it might drop to 108000 dollars.
The RSI at 60.62 shows bitcoin isn’t overbought or oversold, so there’s room for movement either way. Traders are watching closely, ready for a breakout that could set the tone for the crypto market.
Ethereum and XRP Join Bitcoin Rally
Ethereum is a standout, trading in a strong uptrend with support at 3550 dollars. Its RSI is high at 79.69, hinting it’s a bit overbought but still has momentum.
Ethereum’s close to breaking the 4100 dollar resistance, and if it does, it could hit 4250 dollars next week. If it gets rejected, it might fall back to 3600 or 3550 dollars.
The low supply on exchanges and strong technicals make Ethereum a favorite for investors betting on the altcoin season, even as bitcoin dominates.
XRP is bouncing back from a 2.8497 dollar support after hitting resistance at 3.49 dollars. Its RSI has cooled to 62.02, leaving room for growth. If XRP breaks 3.49 dollars, it could test 3.60 dollars soon. But if it falls below 3.05 dollars, it might drop to 2.85 dollars.
With the SEC’s Ripple case decision and ETF talks on the horizon, XRP’s moves could ripple through the crypto market, alongside bitcoin’s lead.
Also Read: Crypto news highlights from today’s events.
