Weekly Crypto Update: Price Movements, Resistance Levels, and Predictions

Weekly Crypto Update: Breaking Down the Latest Price Action and Resistance Zones

Weekly Crypto Update – Bitcoin (BTC) has commenced the week with notable strength, currently trading at $108,407, approaching the overhead resistance zone between $109,588 and $111,980. This upward movement may have been influenced by optimistic expectations surrounding the US-China trade talks in London.

Trader Cas Abbe highlighted that a significant surge could trigger the liquidation of approximately $15.11 billion in short positions if BTC surpasses $109,000 to $110,000. Conversely, a 10% decline could lead to the liquidation of $9.58 billion in long positions. While many analysts anticipate a bullish long-term trajectory for Bitcoin, some foresee a short-term dip before the uptrend resumes. Private wealth manager Swissblock predicts a potential drop to $104,000, while analyst Mickybull Crypto expects a decline to $101,500.

Ethereum’s Consolidation: Awaiting Breakout

Ethereum (ETH) is consolidating between $2,323 and $2,738, indicating a tug-of-war between bulls and bears. Currently priced at $2,577, ETH faces resistance near the $2,738 level. A breakout above this resistance could propel ETH toward $3,000 and potentially $3,153. Conversely, a sharp decline below the $2,284 level may lead to a drop to $2,111, favoring the bears.

XRP’s Range-Bound Movement: Key Levels to Watch

XRP is trading between $2.00 and $2.65, with the price currently at $2.29. The flat moving averages and RSI near the midpoint suggest a balanced market. A rise above the moving averages could lead to a test of the $2.65 resistance. On the downside, a drop below $2.00 may retest the critical support at $1.61.

BNB’s Range-Bound Behavior: Awaiting Direction

BNB is oscillating between $634 and $693, with the current price at $659. A move above the $693 resistance could initiate an uptrend toward $732. However, failure to break this resistance may result in a decline below the $634 support, targeting $580.

Solana’s Recovery Faces Resistance

Solana (SOL) has rebounded from the $140 support but faces resistance at the $158 level. Currently priced at $156, a decline below $140 could lead to a drop to $123 and subsequently to $110. Alternatively, a move above the resistance may push SOL toward $185.

Dogecoin’s Struggle at Key Support

Dogecoin (DOGE) is finding support near $0.16, with the current price at $0.1869. The downward-sloping 20-day EMA and RSI in negative territory indicate bearish pressure. A drop below $0.16 may challenge the crucial $0.14 support. Conversely, a breakout above $0.26 could signal a bullish reversal.

Cardano’s Resistance at 20-Day EMA

Cardano (ADA) is facing resistance near the $0.69 level, with the current price at $0.6824. A decline below $0.60 may retest the $0.50 support, while a move above the 20-day EMA could lead to a rally toward $1.02.

Hyperliquid’s Bullish Breakout

Hyperliquid (HYPE) has broken above the symmetrical triangle pattern, signaling a bullish breakout. Currently priced at $37.90, a sustained move above the triangle could propel HYPE toward $42.50 and potentially $46.50. Failure to maintain above the triangle support may lead to a decline to $30.50.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.