Bitcoin Eyes $120,000 Resistance Amid Market Uncertainty and Altcoin Potential


  • Bitcoin’s recent rally has brought it close to the $120,000 resistance, but sustaining higher levels remains a challenge.

  • Ether is expected to challenge the $4,094 level, where selling pressure may increase.

  • Market analysis suggests that BTC must stay above $116,900 to confirm bullish momentum.

Bitcoin faces a critical resistance at $120,000, with Ether also showing potential for growth. Stay updated with our latest market analysis.

Cryptocurrency Current Price Resistance Level
Bitcoin (BTC) $116,900 $120,000
Ether (ETH) $3,941 $4,094

What is Bitcoin’s Current Market Position?

Bitcoin is currently attempting to break through the $120,000 resistance level. Analysts indicate that maintaining a price above $116,900 is crucial for bullish momentum.

How Does Ether Compare in the Current Market?

Ether has shown strength, recently surpassing the $3,745 resistance. Analysts predict it may face selling pressure as it approaches the $4,094 level.


Frequently Asked Questions

What are the key resistance levels for Bitcoin?

The key resistance levels for Bitcoin are currently at $120,000 and $123,218.

How is Ether performing in the market?

Ether is performing well, with a recent price of around $3,941, and is expected to challenge the $4,094 resistance level.


Key Takeaways

  • Bitcoin’s resistance at $120,000: A critical level for bulls to overcome.
  • Ether’s potential surge: Expected to challenge $4,094, indicating strong market interest.
  • Market dynamics: Sustaining prices above $116,900 is essential for bullish trends.

Conclusion

In summary, Bitcoin is at a pivotal point, facing resistance at $120,000. Ether also shows promise, with potential upward movement. Staying informed on these trends is crucial for investors.


  • Bitcoin has made a brilliant comeback but is expected to face significant resistance at $120,000.

  • Ether looks strong on the charts and is expected to challenge the $4,094 level, where sellers are expected to step in.

  • Glassnode reported that the cost basis of local top buyers is around $116,900, indicating a crucial support level.

Bitcoin is attempting to break through the $120,000 resistance level, while Ether shows strength in the market. Key predictions and analysis included.

Bitcoin Price Prediction

BTC cleared the near-term resistance of $115,720 but is facing selling at the downtrend line.

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BTC/USDT daily chart. Source: Cointelegraph/TradingView

If the price turns down from the downtrend line but rebounds off the neckline, it suggests buying on minor dips. If that happens, the BTC/USDT pair could retest the $120,000 to $123,218 resistance zone.

Ether Price Prediction

Buyers pushed ETH above the $3,745 hurdle, signaling that the corrective phase may be over.

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ETH/USDT daily chart. Source: Cointelegraph/TradingView

The rally rose above the $3,941 resistance but is expected to face fierce selling as it approaches the $4,094 level.

XRP Price Prediction

XRP turned up from the $2.95 support and skyrocketed above the 20-day SMA on Thursday.

01988a5d a481 743a bebd 3bb6278f98ec
XRP/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will try to push the price to the overhead resistance of $3.66, where the bears are expected to mount a strong defense.

BNB Price Prediction

BNB pierced the 20-day SMA on Thursday, indicating that the selling pressure is reducing.

01988a5d a9f5 7d90 b229 f9808254e46a
BNB/USDT daily chart. Source: Cointelegraph/TradingView

Sellers may pose a strong challenge at $794 and again at $815.

Solana Price Prediction

Sellers tried to pull Solana below the 50-day SMA on Wednesday, but the bulls held their ground.

01988a5d af93 73ee a723 ae82048fb128
SOL/USDT daily chart. Source: Cointelegraph/TradingView

The SOL/USDT pair has risen toward the 20-day SMA, which could be a near-term hurdle.

Dogecoin Price Prediction

Dogecoin turned up from the 50-day SMA on Wednesday and has reached the 20-day SMA.

01988a5d b52e 7413 9495 7dc2ff527f00
DOGE/USDT daily chart. Source: Cointelegraph/TradingView

The price could ascend to the $0.25-$0.26 overhead zone if it rises above the 20-day SMA.

Cardano Price Prediction

Cardano has reached the 20-day SMA, indicating solid buying at the 50-day SMA.

01988a5d bafc 7004 9cfa 347e56028383
ADA/USDT daily chart. Source: Cointelegraph/TradingView

If buyers sustain the price above the 20-day SMA, the ADA/USDT pair could rally to $0.86.

Hyperliquid Price Prediction

Hyperliquid recovered to the moving averages, where the bears are expected to mount a strong defense.

01988a5d c095 7f3c 9c7f 606e39325bf0
HYPE/USDT daily chart. Source: Cointelegraph/TradingView

A break above the moving averages suggests that the bears are losing their grip.

Stellar Price Prediction

Stellar broke above the 20-day SMA, signaling that the correction may be over.

01988a5d c640 738e aebf c1da2cab219b
XLM/USDT daily chart. Source: Cointelegraph/TradingView

If XLM price maintains above $0.46, it could soar to the overhead resistance of $0.52.

Sui Price Prediction

Sui jumped from the 50-day SMA and reached the 20-day SMA.

01988a5d cba1 7a20 8479 2e640dc50bbb
SUI/USDT daily chart. Source: Cointelegraph/TradingView

If buyers sustain the price above the 20-day SMA, the SUI/USDT pair could surge to $4.

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